SECTION 301 TARIFF AUTHORITY
Rs 70,00,000 worth fake Mounjaro injections seized in Gurgaon; Police expose illegal weight-loss drug racket in NCR
Gurgaon Drug Racket: Authorities in Gurgaon have busted a major illegal pharmaceutical racket involving spurious Mounjaro KwikPen (tirzepatide injections) worth over Rs 70 lakh, with two men arrested after a joint operation by the Drugs Control Department and police intercepted a vehicle carrying suspected fake diabetes and weight-loss drugs stored in violation of safety norms. The raid near Super Mart-1 led to the recovery of multiple cartons of injections in different strengths, with officials finding serious issues such as improper cold-chain storage, labelling mismatches, and packaging irregularities, suggesting the products are spurious.
Is tax clearance mandatory before foreign travel? What the Income-Tax Act, 2025 says
The introduction of Form 157 and Form 159 under the Income-Tax Rules, 2026 has sparked confusion over whether tax clearance is now mandatory for all Indians travelling abroad. However, a closer reading of Section 420 of the Income-Tax Act, 2025—read with Section 536 and CBDT Instruction No. 1/2004—makes it clear that no such blanket requirement exists.
Trump tariffs refunds start from Monday. Check timings, online portal, who can apply
Trump Tariffs Refunds: Importers and their brokers will be able to begin claiming refunds through an online portal.
US citizen, NRI detained at Srinagar airport for possessing satellite Phone
A US citizen, Jeffrey Scott Prather, and an Indian national residing in the US, Haldar Koushik, were detained at Srinagar International Airport. Authorities found Prather in possession of a satellite phone. The use of such devices is strictly regulated in Kashmir.
Trump signs bill extending controversial surveillance powers until Apr 30
President Trump signed a bill extending a controversial surveillance program until April 30, averting its expiration. This short-term renewal, approved by the Senate, sets up another congressional showdown over Section 702 of FISA. The program allows warrantless collection of foreign communications, which can incidentally capture Americans' data, sparking civil liberties concerns.
US weighs tougher auto import rules to accelerate reshoring
The Donald Trump administration is considering changes to North American trade rules that could raise tariffs on imported vehicles and push automakers to increase US-based production.
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US Section 301 probe: India textile body TEXPROCIL pushes back on USTR excess capacity allegations
TEXPROCIL has responded to US investigations on excess manufacturing capacity and forced labor. The Indian textile body rejects these claims, highlighting strong domestic demand. India's cotton textile sector is primarily driven by local consumption, with exports forming a small portion. Any negative US action could harm trade ties.
ITR assessment rules change from April 2026: Four key amendments explained
Four key changes to Income Tax Return (ITR) assessment rules will be effective from April 2026 for Tax Year 2026-27. These amendments, introduced in the Finance Bill, 2026, aim to enhance efficiency and transparency in tax assessments. The changes cover tax notices, DIN in communications, assessment completion timelines, and block assessments.
EU trade surplus shrinks 60% as US exports fall due to tariffs
The European Union's trade surplus saw a major drop in February. Exports to the United States fell by over a quarter. This decline is linked to US import tariffs on EU goods. Overall EU exports decreased, while imports also reduced. This situation impacts trade relations between the EU and the US.
Tariff Refund System explained: What it means for consumers as US begins $166 billion payback and who is eligible
The launch of the Tariff refund system represents a significant administrative and legal milestone. It resolves a contentious policy chapter while injecting liquidity back into the corporate sector. Yet, the broader economic impact remains mixed.
Textiles Ministry plans duty cuts to shield industry amid West Asia crisis
In a bid to navigate the turbulent waters of global shipping issues, India's textiles ministry is advocating for lower duties on rayon pulp and certain cotton varieties. Furthermore, there's potential for a postponement of anti-dumping duties on specific yarns, which would significantly aid supply chains.
CCI dismisses complaint against Adani Group entities in solar power tender case
India's antitrust regulator has dismissed a complaint against Adani group entities and others. The Competition Commission of India found no initial evidence of anti-competitive practices. This decision relates to a tender awarded by the Solar Energy Corporation of India. The regulator stated that the Adani Group does not appear to hold a dominant position in the power generation market.
Most Trump tariff refunds facing denial if importers don’t opt in
Most US importers who paid $166 billion in tariffs later struck down by the Supreme Court may miss out on refunds because they have not registered for electronic payments, the government told a court.
Indian envoy to US meets US Trade Representative amid talks on finalising trade deal
India’s Ambassador to the US Vinay Mohan Kwatra met top American officials to advance talks on a bilateral trade agreement, as both sides refine key terms. With tariffs and global trade rules shifting, a deal is expected once the US finalises its new tariff framework.
Bank credit grows 16% in FY26, faster than deposits rise
Bank credit saw a significant 16% rise, reaching ₹219 lakh crore. Deposits grew 13.4% to ₹267.8 lakh crore by March 31, 2026. Investments also increased by 4.7%. This year-end surge in deposits and credit is a common trend. In the last fortnight alone, banks gathered ₹12 lakh crore in deposits and lent ₹6.1 lakh crore.
India trade delegation to visit US for BTA talks, first in-person meeting since October
An Indian trade team led by Darpan Jain will visit the US from April 20–22 for talks on a bilateral trade agreement, the first in-person meeting since October. Officials said the deal is being recalibrated amid changing tariff conditions, while India also rejected US allegations in a Section 301 probe.
US’ 301 probes: India denies allegations, seeks termination of both investigations
India has rejected allegations by the US Trade Representative under its Section 301 probe, denying claims of “structural excess capacity” in sectors such as petrochemicals and textiles. It argued that its $42 billion trade surplus with the US is a macroeconomic outcome shaped by multiple factors and not due to unfair practices.
India stands by trade pact with US, trade negotiators to visit Washington next week
An Indian trade delegation will visit the US to discuss a bilateral trade agreement. Negotiations will focus on recalibrating the deal due to recent tariff changes. India aims to secure favorable terms and commitments. This engagement follows a call between Prime Minister Modi and President Trump. Discussions will also cover trade issues and investigations.
US Sec 301 probe: India rejects allegations, requests for terminations of both investigations
India has strongly rejected US allegations of excess structural capacity and production, asserting the USTR's investigation lacks a "cogent rationale." New Delhi has requested a negative determination and termination of the probe, emphasizing that trade concerns should be addressed through bilateral negotiations. India also denies allegations regarding forced labor, seeking termination of that investigation as well.
NCW sets up panel to probe sex abuse allegations at TCS unit in Nashik
The National Commission for Women (NCW) announced on Wednesday that it has constituted a fact-finding committee to conduct a detailed inquiry into the alleged incidents of sexual harassment of women at the Tata Consultancy Services (TCS) BPO unit at Nashik in Maharashtra.
India unveils a power-packed FTA calendar: UK, Oman, New Zealand deals next
In 2026, India will embark on an ambitious journey to amplify its role in global commerce. The commencement of pivotal free trade agreements with the United Kingdom and Oman, alongside an impending partnership with New Zealand, highlights India's strategic focus on fostering robust international connections. This proactive approach demonstrates the nation's dedication to turning diplomatic negotiations into thriving economic collaborations.
Indian official team to visit Washington next week for trade talks
An Indian delegation is heading to Washington next week for crucial trade talks. The meeting focuses on an interim trade agreement between India and the US. This pact was delayed due to changes in US tariff policies. The US has imposed new tariffs affecting global trade partners.
Trump’s tariff rates could be restored by July, says US Treasury Secretary Scott Bessent
US Treasury Secretary Scott Bessent said tariffs introduced by Donald Trump could return to earlier levels by early July, despite a setback in the US Supreme Court that struck down parts of the policy.
SC refuses to quash CBI FIR, chargesheet against Lalu Prasad Yadav in land-for-jobs case
The Supreme Court has refused to quash the CBI FIR in the land-for-jobs case against Lalu Prasad Yadav and his family. While granting the 77-year-old former Bihar CM exemption from court appearances, the apex court allowed him to raise the issue of Section 17A of the Prevention of Corruption Act applicability.
Supreme Court issues notice to Centre on PIL challenging provisions of digital personal data protection law
The Supreme Court has asked the Centre to respond to a petition. The petition challenges parts of the Digital Personal Data Protection Act, 2023. It claims these parts weaken transparency under the Right to Information Act, 2005. The court also ordered Rajasthan to be made a party.
Ghaziabad won't allow building construction without tree plantation anymore: Check new plot approval norms for builders & land owners
Ghaziabad Development Authority has introduced a new rule making tree plantation compulsory based on plot size for all building approvals from April 1. Developers must show earmarked plantation space in maps and deposit a security amount, which will be refunded only after officials verify the trees have been planted.
US trade court weighs legality of Trump 10% global tariff
A U.S. trade court will review a 10% global import tax enacted by the Trump administration. Several states and small businesses argue this tax, imposed under the Trade Act of 1974, illegally bypasses a Supreme Court ruling that limited presidential tariff authority. The administration defends the tariffs as a response to trade deficits.
Trump's trade war with China in focus ahead of May summit
President Donald Trump will visit China in May for talks with President Xi Jinping. This meeting follows a year of trade disputes and tariffs between the two economic giants. Recent developments show ongoing negotiations and reciprocal actions. The visit is highly anticipated as both nations manage their complex trade relationship.
India largely shielded from US tariffs on patented drugs due to generic export strength: GTRI
New US tariffs on patented drugs will not significantly impact India. The country mainly exports affordable generic medicines to America. These generics are currently exempt from the tariffs. Indian firms producing specialized drugs or inputs for patented medicines may face pressure. Future uncertainty exists if tariffs extend to generics.
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