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In a bid to streamline the resolution of Goods and Services Tax (GST) disputes, the Central Board of Indirect Taxes & Customs (CBIC) has introduced a circular outlining a standardized process for reviewing, revising, and appealing Orders-in-Original (O-I-Os) issued by Common Adjudicating Authorities (CAAs) in cases handled by the Directorate General of GST Intelligence (DGGI). This mechanism is expected to benefit sectors such as banking, insurance, e-commerce, and logistics, which have faced increased scrutiny due to complex supply chains and aggressive tax positions. The circular designates the Principal Commissioner or Commissioner of Central Tax as the reviewing authority, allowing appeals to be made within three months under Section 107 of the CGST Act. Experts believe this reform will enhance procedural clarity, reduce litigation, and restore trust in the enforcement process, particularly amid ongoing investigations into tax fraud and compliance issues. 
Published: Jun 25 2025, 9 ameznews.inGulf carriers remain the preferred choice for Indian travelers heading to destinations like Los Angeles, San Francisco, and Seattle, thanks to their superior frequency and connectivity. However, following the reopening of Iran's airspace, many passengers are now considering transit routes through Southeast Asia, including Singapore, Bangkok, and Hong Kong, despite a significant rise in airfares. For instance, fares from Chennai to New York have surged from ₹1.90 lakh to ₹2.55 lakh in just ten days. Travel agencies report increased inquiries for these routes, particularly from those with urgent travel needs. Amid rising tensions in the Gulf region, anxiety among travelers has led to cancellations and rebookings on European airlines. This sentiment extends beyond India, with Australian travelers also experiencing longer flight times as airlines reroute to avoid affected airspace. Meanwhile, Malaysia Airlines has announced a peak surcharge for tickets issued after June 27, 2025.
Published: Jun 25 2025, 4 pmeznews.inThe Union Cabinet, led by Prime Minister Narendra Modi, has approved Phase 2 of the Pune Metro Rail Project, which includes two elevated corridors spanning 12.75 km at a cost of ₹3,626 crore. The new routes, from Vanaz to Chandani Chowk and Ramwadi to Wagholi, will extend the existing Vanaz–Ramwadi corridor and feature 13 stations, connecting key suburbs and enhancing public transport accessibility. Information and Broadcasting Minister Ashwini Vaishnaw highlighted that the project aligns with the Comprehensive Mobility Plan, aiming to improve mass transit in Pune. The corridors will integrate with existing metro lines and intercity bus services, facilitating seamless urban travel. Expected to alleviate congestion on major roads, the project is projected to increase daily ridership significantly over the coming decades. Maharashtra Metro Rail Corporation Limited will oversee the implementation, with pre-construction activities already underway, marking a significant step towards sustainable urban development in Pune.
Published: Jun 25 2025, 5 pmeznews.inBoomitra, a soil carbon project developer, has secured a landmark agreement with Restoration Climate and the Ethereum Climate Platform (ECP) for 500,000 carbon removal credits from its Northern Mexico Grassland Restoration project over five years, marking the largest soil carbon credit transaction to date. CEO Aadith Moorthy emphasized the significance of this deal in showcasing the scalability of soil carbon removal in developing countries and its appeal to diverse buyers as a cost-effective climate solution that benefits agriculture and local communities. ECP, leveraging blockchain technology, aims to enhance climate investments by connecting project developers with investors, while Restoration Climate focuses on navigating climate risks through market-based solutions. Recent visits by Restoration Climate executives highlighted the positive impacts on local ranchers and soil health, underscoring the transformative potential of technology, such as AI and satellite data, in measuring soil carbon and facilitating large-scale restoration efforts.
Published: Jun 25 2025, 1 pmeznews.inThe Solvent Extractors’ Association of India (SEA) has urged the government to reinstate standard packaging for edible oils to protect consumer interests and enhance market transparency. BV Mehta, Executive Director of SEA, highlighted that the removal of Schedule 2 from the Legal Metrology (Packaged Commodities) Rules in 2022 has led to a rise in non-standardized packaging sizes, such as 800 g and 870 g, causing consumer confusion and complicating price comparisons. This lack of standardization not only misleads consumers but also fosters unhealthy competition and unfair trade practices. Mehta emphasized the need for clear labeling and uniform pack sizes to ensure price transparency and maintain market integrity. The SEA has consulted with industry stakeholders and submitted a proposal to the Department of Legal Metrology, advocating for the reintroduction of 'Serial Number 10 of Second Schedule' to benefit consumers, regulators, and the industry alike.
Published: Jun 25 2025, 3 pmeznews.inAs of June 24, India's monsoon rainfall has exceeded the Long Period Average (LPA) by 4.0%, marking a promising start to the season. Research from ICICI Bank indicates that this surplus is likely to enhance Kharif crop production, particularly in states like Rajasthan and Gujarat, which have reported rainfall 135% and 134% above LPA, respectively. Other significant agricultural states, including Madhya Pradesh and Uttar Pradesh, have also experienced above-average rainfall. However, regions such as Telangana and Chhattisgarh are facing substantial deficits, which could hinder crop yields. Despite these disparities, Kharif sowing has increased by 10.4% year-on-year, driven by strong growth in rice and pulses. While cumulative rainfall stands at 104% of the LPA, slightly below the India Meteorological Department's forecast, the uneven distribution of rainfall remains a concern as the monsoon progresses. Further developments in rainfall patterns will be crucial for the agricultural sector's outlook.
Published: Jun 25 2025, 3 pmeznews.inThe Indian Institute of Spices Research (ICAR-IISR) in Kozhikode has unveiled an eco-friendly bio-pesticide aimed at tackling the cardamom thrips, a pest that devastates cardamom crops across over 70,000 hectares in India, causing yield losses of up to 48% and financial damages of ₹2-4 lakh per acre. Traditionally, farmers have relied on chemical insecticides, which pose health risks and leave harmful residues. The new formulation, derived from the entomopathogenic fungus _Lecanicillium psalliotae_, effectively controls thrips while promoting plant growth and improving soil nutrients. Field trials in Idukki and Wayanad have confirmed its efficacy, matching that of chemical alternatives. Designed for ease of use, the bio-pesticide can be mixed with farmyard manure and applied directly to the soil, reducing reliance on chemicals and ensuring compliance with international standards. IISR is now seeking industry partners for commercial production and marketing of this innovative solution.
Published: Jun 25 2025, 3 pmeznews.inIndia plans to borrow ₹2.7 lakh crore through the sale of ultra-long bonds in the first half of the financial year, amid growing investor concerns over the supply of long-term government bonds maturing in 30 years and beyond. These bonds, which constitute one-third of New Delhi's borrowing needs, have seen tepid demand, leading to a significant rise in yields. The gap between the benchmark 10-year bond yield and long-term bonds has reached an alarming 80 basis points, the highest in four years. Major investors, including insurers and pension funds, have reduced their market activity due to a slowdown in premium inflows, exacerbating the situation. Experts suggest that a revision of the borrowing calendar may be necessary to alleviate the pressure on long-term bond supply, as the market shows a stronger appetite for bonds maturing within seven years.
Published: Jun 25 2025, 3 pmeznews.inIn a landmark development, coal stockpiles at India's thermal power plants have surged to a record 58.25 million tonnes, sufficient for 25 days of consumption, thanks to the mechanised silo loading process implemented by Indian Railways. This achievement enhances India's energy security, ensuring a stable power supply during peak summer and the forthcoming monsoon season, when coal logistics often face disruptions. Silo loading, which automates the transfer of bulk materials like coal into railway wagons, improves efficiency by ensuring uniform coal sizing and reducing damage to wagons. In a recent high-level meeting, Union Ministers G Kishan Reddy and Ashwini Vaishnaw discussed strategies to accelerate silo loading infrastructure, aiming to boost coal evacuation quality and speed. The share of coal loaded via silos has risen significantly, from 18.8% in 2022-23 to 29% in 2025-26, reflecting a concerted effort to enhance coal logistics across the country.
Published: Jun 25 2025, 12 pmeznews.inA special audit by the Directorate General of Civil Aviation (DGCA) following the tragic crash of Air India flight AI171 in Ahmedabad on June 12 has revealed significant lapses in aircraft maintenance and safety protocols across Indian airlines and airports. The audit, which assessed various aspects including flight operations, airworthiness, and ramp safety, identified recurring defects and inadequate monitoring practices. Notably, unserviceable ground-handling equipment and non-compliance with maintenance procedures were highlighted. The DGCA reported that safety precautions were often ignored by maintenance engineers, and critical defect reports were not properly documented. Additionally, one domestic flight was delayed due to worn tires, and a flight simulator was found outdated. The DGCA has mandated corrective actions within seven days. The findings underscore a concerning aviation safety culture that has not evolved in line with India's rapid industry growth, prompting calls for regulatory reforms, including proposed laws to address building height violations near airports.
Published: Jun 25 2025, 10 ameznews.inIndiGo is set to launch its long-haul flights to Amsterdam and Manchester in July, marking a significant expansion for the airline as it competes with established West Asian and European carriers. CEO Pieter Elbers, who previously led KLM, emphasized that while IndiGo will maintain cost leadership, it will not be a traditional low-cost carrier on these routes. The airline plans to offer hot meals and enhanced services on these 8-9 hour flights, distinguishing its product from typical low-cost offerings. Elbers noted the importance of a fit-for-purpose product and strategic partnerships, such as with Delta, to ensure success in long-haul operations. IndiGo aims to replicate its domestic success internationally, focusing on building a robust network and customer loyalty. The airline is also exploring in-flight entertainment options, initially on domestic routes, as it prepares for its new Airbus A350 aircraft expected in 2027.
Published: Jun 25 2025, 11 am
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