These losses increase insurance premiums for customers and reduce insurer margins on the other.
Customs duty cannot be levied on electricity supplied from a special economic zone (SEZ) to the domestic market, ruled the Supreme Court on Monday while upholding Adani Power's appeal against a 2019 judgment of the Gujarat high court. The 2019 judgment had denied relief to Adani Power from Customs duty on electricity supplied from its Mundra SEZ unit to the domestic tariff area (DTA).
Banking sector has witnessed healthy growth in advances in the third quarter of financial year 2026 (Q3FY26) against the same period last year, as the full impact of goods and service tax (GST) rate cuts drove growth. Most of the lenders saw their credit growth outpace the deposit growth in the quarter.
NPS Vatsalya offers a disciplined investment avenue that parents can use to create intergenerational wealth by contributing even small sums.
The government has exempted a number of goods like food grains, fertilisers and farm inputs from paying service tax for transportation through railways and waterways.
The Central Board of Excise and Customs (CBEC) has started tightening the noose around tax evaders. This year, the department intends to profile banking and financial services, port services and business auxiliary services to pinpoint taxability of various components to enforce compliance. More services will be profiled in subsequent years.
Though levy of service tax on domestic air travel is negative, given the rebound in air travel, the players can fully pass on the impact to customers through hike in fares
Nearly 96 per cent of new applicants will benefit from this simplified approval route.
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
The government is finalising a major GST overhaul with automated refunds, pre-filled returns, and analytics-based scrutiny to simplify compliance and boost liquidity for MSMEs.
A 500 per cent tariff would effectively shut out India's goods and services exports to the US.
With the scope of expanding excise and customs duties getting increasingly limited, the government would turn to service tax for widening the tax base, mop up from which is expected to fetch over Rs 10,000 crore by 2005.
Billionaire Mukesh Ambani on Thursday termed the second-generation GST reforms as a big booster to consumption-driven growth while his firm promised to pass on the benefit of the cut in tax rates to consumers.
Amazon India unveiled a dedicated marketplace section highlighting products with reduced tax burdens as the goods and services tax (GST) restructuring took effect on September 22, positioning the ecommerce giant to capitalise on lower consumer prices across electronics, appliances, and other categories. Its rival Flipkart, too, has rolled out its own GST-focused storefront, the GST Bachat Utsav, aimed at helping shoppers maximise benefits from the new tax rates across multiple categories.
Recent years have been turbulent for the insurance industry due to direct and indirect tax reforms, regulatory overhaul and other external pressures. The events cumulatively slowed growth rate to single digits from the high teens seen earlier.
Revenue from service tax, which has become a new focus area for Finance Ministry, has grown up substantially by over 300 times in past about two decades.
The Service Tax Department has once again frozen the bank accounts of the national carrier Air India for non-payment of dues running into a little over Rs 300 crore (Rs 3 billion).
'This is not a case of tax evasion but the result of long-standing ambiguities in GST rules and unawareness.'
IT services firm HCLTech on Monday reported a 11.2 per cent decline in consolidated net profit to Rs 4,076 crore in the October-December quarter of FY26.
While GST on ICE vehicles was brought down significantly, for electric cars it remained at 5 per cent.
Amendments to RBI Act likely soon
The court upheld the guidelines and imposed Rs 1 lakh cost each on the petitioners to be deposited with the CCPA towards consumer welfare.
Recalling or relabelling medicines already in the supply chain before September 22 will not be mandatory, the finance ministry said on Tuesday, issuing a fresh set of frequently asked questions (FAQs) to address industry concerns following the announcement of goods and services tax (GST) revisions.
The reduction in the goods and services tax (GST) rates has increased the momentum in India's economic activity both on the supply and demand sides, while robust agricultural activity - reflected in the strong onset of rabi sowing and adequate reservoir levels - has reinforced the outlook for food supply and rural incomes, the finance ministry said on Thursday.
The exemption of individual life and health insurance premiums from the Goods and Services Tax (GST) enables the insurance industry to make products affordable and attractive, said Ajay Seth, chairman of Insurance Regulatory and Development Authority of India (Irdai) at the Business Standard BFSI Insight Summit 2025.
Following Axis Max Life Insurance's second-quarter results for 2025-26, Sumit Madan, managing director and chief executive officer of the company, speaks to Aathira Varier and Subrata Panda/Business Standard about growth aspirations, strategies to offset the impact of the input tax credit (ITC) withdrawal, reverse merger plans, and more.
'We are seeing a lot of people with helmets visiting our showrooms.'
'It will support our growth aspirations. It's very positive as it helps expand the market in a segment that really needs it.'
The July-September quarter (Q2) performance of consumer electricals and durables major Havells India in 2025-26 (FY26) was broadly in line with Street estimates. While the top line was supported by robust growth in the wire and cable, switchgear, and lighting segments, the consumer durables segment restricted overall gains.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
'We currently have new proposals worth Rs 1.48 trillion in the pipeline.'
In the mid-1990s, when the shares of listed companies first began to be held in electronic form, they accounted for less than 1 per cent of the stocks bought and sold on the stock exchanges. This climbed to 99.5 per cent by 2001.
Eighteen new-age technology firms went public during the year, a near triple increase from the five firms that debuted in 2023 and 38 per cent more than 2024's tally of 13.
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
'Foreign capital will continue to come directly into India, but companies have realised that GIFT City is a more cost-efficient way of channelling funds.'
'In case a particular industry has not passed on the benefits and if we receive complaints, we will take up the matter with the industry body concerned.'
For every rupee in the government coffer, the biggest pie of 66 paise will come from direct and indirect taxes, according to the Union Budget 2025-26 documents. Around 24 paise will come from borrowings and other liabilities, 9 paise from non-tax revenue like divestment, and 1 paise from non-debt capital receipts, the Budget documents said.
State-owned insurer LIC on Thursday reported a 32 per cent jump in net profit to Rs 10,053 crore for the second quarter ended September 30, aided by a lower commission outgo. The country's biggest insurer had reported a net profit of Rs 7,621 crore in the year-ago period.
The small sports utility vehicle (SUV) segment - comprising models less than 4 metres in length - could witness the "maximum" growth among all categories in the coming months following the recent goods and services tax (GST) rate rationalisation, Tarun Garg, chief operating officer of Hyundai Motor India (HMIL), said.
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