It will also be new Revenue Secretary Sanjay Malhotra's first GST Council meeting. He will take charge after the incumbent Tarun Bajaj retires on November 30.
The 47th GST Council meeting that is currently underway is slated to discuss a host of issues, including a mechanism for compensating states for revenue loss, tax rate tweaks in some items and relaxed registration norms for small online suppliers. Further, the meeting of the Council, chaired by the Union Finance Minister Nirmala Sitharaman and comprising state counterparts, will also clear levying the highest tax of 28 per cent on online games, casinos and horse racing, besides, measures to curb tax evasion, especially devising ways to tackle high-risk taxpayers in GST. "The meeting is being chaired by Hon'ble Union Minister of Finance @nsitharaman and many important decisions are expected to be taken at the meet," PIB Chandigarh tweeted.
Industry associations and companies in the United States, including the US Chamber of Commerce, Coalition of Services Industries and the iconic bike company Harley Davidson have called on the Donald Trump dispensation to push India to reduce tariffs, non-tariffs, and regulatory barriers to boost American exports.
The GST Council on Tuesday approved changes in tax rates on some goods and services while allowing states to issue an e-way bill for intra-state movement of gold and precious stones, officials said. The Council, chaired by Finance Minister Nirmala Sitharaman and comprising state counterparts, also cleared a host of compliance procedures for GST-registered businesses along with a GoM report on high-risk tax payers to check evasion. The discussion on the crucial issues of extension of compensation to states beyond June 2022 and the imposition of 28 per cent GST on casinos, online gaming and horse racing, will take place on Wednesday.
The one-size-fits-all approach adopted by the AICTE is not suitable for regulating business schools in India, argues Asish K Bhattacharyya.
Violence erupted in Manipur's Kangpokpi district as Kuki-Zo groups protested a directive allowing free movement across the state. One protester was killed and over 40 others were injured in clashes with security forces. The protests were sparked by Union Home Minister Amit Shah's order, which aimed to restore free movement across the state after ethnic violence erupted in May 2023.
Will allowing business correspondents to hawk insurance products help in reviving 5-lakh strong field agents as a viable channel?
Prime Minister Narendra D Modi's itinerary for his June 21-24 US visit could include an address to a fledgling business advocacy group, the US-India Strategic Partnership Forum.
According to the available information, two Hindu leaders, who were incidentally leaders of Hasina's Awami League party, were killed in north-western Sirajganj and Rangpur, Debnath said, adding that the Council was still gathering more information.
New India Assurance and Niva Bupa have invested in the Bima Sugam India Federation.
The Indian arm of the Norwegian investment company Orkla ASA, which owns spice brands like MTR and Eastern, is exploring the possibility of launching an initial public offering (IPO) in 2025, said a top company executive. "The ASA board just cleared the proposal. "We had done a pre-IPO study last year to understand what we need to do and based on that the board said, 'okay, let's go ahead and explore capital markets'," Sanjay Sharma, CEO, Orkla India, told Business Standard.
As part of Prime Minister Dr Manmohan Singh's state visit to the United States at the invitation of President Barack Obama on November 24, India and the US are endeavoring to announce the convening of a India-US Education Council on the lines of the US-India Business Council, Human Resource Minister Kapil Sibal disclosed in Washington on Friday.
'We are not opposed to any Indian language. We are against Hindi imposition.'
The plane, a PSA Airline Bombardier CRJ700, crashed in the Potomac River near the vicinity of Reagan National Airport, according to officials.
'International cricket is incomplete without Pakistan.'
'The BJP lacks a credible mass leader who matches Mamata Banerjee's popularity.' 'Given the division of votes among Opposition parties, the West Bengal government's dole-giving strategy, and the consolidation of the poor, significant sections of scheduled caste groups and Muslim minorities behind the ruling party, it will be difficult to dislodge the Trinamool from power.'
USIBC has seen exponential growth in the last five years, from just 80 companies as its members to now more than 350 top American companies, including scores of Fortune 500 and global Indian companies.
Kharge claimed that the wording as well as the tone and tenor of the remarks made by the Home minister "are clearly satirical and made in a very bad taste".
Taxing capital less may not lead to more investments but taxing more will drive capital away, Chief Economic Advisor V Anantha Nageswaran on Friday said during a discussion on Inequality, Economic Growth and Inclusion. While it is easy to drive capital out, bringing it back is a lot harder, said Nageswaran.
National Aeronautics and Space Administration will soon provide advanced training to Indian astronauts, with the goal of mounting a joint effort to the International Space Station, a top American diplomat said Friday.
Combining their respective strengths in creativity and research, Indian and US firms can grow their business relationship in the coming years and contribute to the global economy, says a study.
The weather in Washington is balmy, but Finance Minister Pranab Mukherjee, in the US to attend a meeting of the International Monetary Fund and the World Bank, would feel a distinct chill as he readies to meet corporate America.
'Our fractured world has been embroiled in wars and hatred, and many sessions reflect these concerns.'
Life insurers shifted their focus to selling high-value policies in October as the transition to new surrender value norms, effective October 1, limited their ability to roll out all products in their portfolio. This led to a 40 per cent year-on-year (Y-o-Y) drop in the number of policies sold in October. Additionally, distributors engaged in a fire sale of policies in September due to uncertainty about the impact of the new norms on their commission structures.
After being elected president of the Inter-Parliamentary Union (IPU) in 1999, Najma Heptulla rang up the then Congress chief Sonia Gandhi from Berlin to convey the news but had to hold the phone line for an hour as a staff told her that 'madam is busy'.
We must bring a laser focus on our own interests, and define our friends and foes more clearly instead of trying to live by somebody else's rules. We must grow up, think for ourselves, think India First, asserts R Jagannathan.
Gold sales on Dhanteras are estimated to drop 10 per cent in volume terms year-on-year on sharp 33 per cent annual rise in rates of the yellow metal, according to industry players. Since Dhanteras -- the most auspicious day in the Hindu calendar for buying items ranging from precious metals to utensils -- is celebrated on two days till 1.11 pm on Wednesday, jewellers are expecting more footfalls in both online and offline stores.
Notably Trump had withdrawn from the Paris Agreement immediately after his first inauguration in January 2017. Joe Biden reversed that decision later.
Lulu Retail announced on Wednesday that its initial public offering (IPO) was oversubscribed 25 times across all tranches, excluding cornerstone investors, generating demand exceeding $37 billion-a record for a private sector IPO in the United Arab Emirates. The company is controlled by Kerala-based business tycoon MA Yusuff Ali. The final offer price for Lulu shares was set at AED 2.04 per share, raising a total of $1.72 billion (AED 6.32 billion), making it the largest IPO in the UAE in 2024 to date.
'Spend, but create assets, spend but make sure that people benefit from it.' 'This has been a beautiful guiding principle. And I think as a finance minister I owe so much to the prime minister for keeping this path clear before us.'
The UK India Business Council expects more emphasis to be put on improving bilateral economic ties.
The Board of Control for Cricket in India (BCCI) has made its stance clear about not travelling to Pakistan for the ICC Champions Trophy 2025. On the other hand, the PCB has been firm about hosting the entire tournament in Pakistan.
Valli Chettiar, charter member of The Indus Entrepreneur, Vancouver feels the Pravasi Bharatiya Divas was a wasted effort.
Of the two rate structures on the table, one suggests tax slabs of 8 per cent, 16 per cent, and 24 per cent. The other proposes tax slabs at 9 per cent, 18 per cent, and 27 per cent.
The Life Insurance Corporation of India has the wherewithal to acquire a composite license, a top source aware of the development told Business Standard, adding that the insurance behemoth may look into entering the health and general insurance segments. "LIC has the scale, capacity, IT infrastructure, and the distribution reach to take advantage of the composite license. "LIC is looking at organic as well as inorganic growth opportunities.
With the completion of the US-India civilian nuclear cooperation agreement, India's Minister for Power Sushil Kumar Shinde has said that India is open for business and American companies can avail themselves of the opportunities by contacting the Indian embassy or the consulates across the country for the necessary guidance.
For the first time, the event will take place across three locations in Delhi: Bharat Mandapam at Pragati Maidan, Yashobhoomi Convention Centre at Dwarka, and India Expo Mart at Greater Noida.
The Indian Council of Medical Research was in talks with the Serum Institute of India for local manufacturing of monoclonal antibodies (MABs). However, it did not take off, as the volume was much less in India.
The Manipur government has accused Mizoram Chief Minister Lalduhoma of stoking hatred and division through "unwarranted comments" and called on him to display "better statesmanship" by being a "good neighbour". In a statement, the Manipur government alleged that Lalduhoma's comments were part of a "greater agenda" to carve out a Kuki-Chin Christian nation from contiguous areas of Myanmar, India, and Bangladesh. It also warned against any attempt to "push" illegal Kuki-Chin immigrants from Mizoram into Manipur for land grabbing and the creation of a "Greater Mizoram." The Mizoram government could not be reached immediately for comment.
USIBC had hosted a executive committee briefing.
