GST rate for petrol and diesel cars and hybrid vehicles is already at the highest bracket of 28 per cent plus cess.
Supertech Managing Director Mohit Arora said the company will file a review petition in the SC.
It would be a good idea to create independent oversight committees for each regulatory institution and indeed, even for their appellate bodies, says A K Bhattacharya.
The Supreme Court on Thursday took strong exception of an affidavit filed by the Union home secretary on a plea by gangster Abu Salem, challenging his life imprisonment in the 1993 Mumbai blasts case, and said it is an "attempt to lecture the judiciary".
The Central Board of Direct Taxes, the apex policy making body of the I-T department, has been undertaking a host of steps to bolster the litigation management wing of the department which has come under criticism not only from courts but also successive Finance Ministers and in the audit reports of the Comptroller and Auditor General.
Six years after the rollout of the biggest indirect tax reform in India, Goods and Services Tax (GST) revenue of Rs 1.5 lakh crore every month has become a new normal and tax officers are focusing on dealing with fraudsters who are adopting newer modus operandi to game the system, causing loss to the exchequer. To apprehend black sheep, who operate as syndicates and create fake entities on the basis of forged documents to claim input tax credit (ITC), tax officers have started using data analytics, artifical intelligence and machine learning aiming to curb evasion, which was over Rs 3 lakh crore since inception of GST. It was over Rs 1 lakh crore in 2022-23. Thinktank Global Trade Research Initiative (GTRI) said the most critical pending GST reform is upgradation of GST Network to prevent fake supplies and fraudulent claims of Input Tax Credit (ITC).
The case of the two Shiv Sena factions for legitimacy and the party symbol, 'Bow and Arrow', is now before the Election Commission. Whichever way the EC findings go, the other can be expected to move the Supreme Court. They would need a final verdict before the parliamentary polls, points out N Sathiya Moorthy.
In 1985, Balbir Singh Sr had donated his medals and memorabilia to the then SAI Secretary on being told that they would be displayed in a show window at the then proposed National Sports Museum.
PMO's stance came as part of a reply to the whistle-blower forest officer, Sanjiv Chaturvedi, after he dragged the PMO to the Central Information Commission for denying information under the RTI Act.
They just wanted their angst noticed, and as a symbol of recognition, Jallikattu, restored without the annual ritual of court cases and adjournments, explains N Sathya Moorthy.
Based on repeated appeals from Choksi, who is wanted in the Rs 13,000 crore bank fraud in Punjab National Bank and is holed in Antigua and Barbuda after fleeing from India in 2018, the CCF removed his name from the Red Notice list in November 2022, the CBI said in a statement.
The Budget has unveiled measures that should now pave the way for India to progress from Make in India to 'Innovate in India'.
Since the bankcuptcy law came into effect from December 2016, with every quarter, the recovery rate has progressively been going down, notes Tamal Bandyopadhyay.
Bharatiya Janata Party termed the Haryana government's approval to the land deal between Robert Vadra and DLF as its "parting gift" to the Gandhi family and questioned the Bhupinder Singh Hooda dispensation for displaying "haste" in clearing it.
Asking Indian Institute of Technology Bombay to adopt a humanitarian approach, the Supreme Court on Monday directed the premier engineering institute to allocate within 48 hours a seat to a young Dalit boy, who missed out, as he could not deposit his fees due to the non-functioning of his credit card.
The ED is of the opinion that the authority stepped into the shoes of the trial court and commented on the preliminary investigation done by the CBI in the impugned order.
A bankruptcy appeals court has scrapped billionaire Anil Agarwal-led Twin Star Technologies' winning bid to take over Videocon Industries Ltd on a plea by some creditors that the money offered imposed a steep Rs 62,000 crore haircut upon banks. The National Company Law Appellate Tribunal (NCLAT) asked creditors to initiate the fresh sale of Videocon, a consumer durables company manufacturing products ranging from air-conditioners to washing machines, for recovery of their unpaid Rs 64,637.6 crore. While a majority of lenders had previously accepted Twin Star Technologies' Rs 2,962.02 crore offer, Bank of Maharashtra (BoM) and IFCI Ltd dissented, saying the amount offered was close to the liquidation value of the bankrupt firm and that they cannot be paid less than the liquidation value.
Finance Minister Arun Jaitley takes a protectionist stance in favour of domestic companies, increases customs duty on certain products.
'I clearly recall how you immediately directed your administration to identify and allocate land, water, and other clearances in the shortest time possible.' 'That was the fastest decision-making process I have ever witnessed.'
Religious rights of every person are subject to "public order", the Supreme Court said on Monday while dismissing the plea of a man seeking to exhume the body of his son, who was dubbed a terrorist and killed in an encounter in Kashmir in November 2021, so the family could conduct his last rites in the same graveyard.
Vice President Dhankar's and Law Minister Rijuju's recent interventions have the danger of destabilising the Constitutional equilibrium, cautions N Sathiya Moorthy.
The bench, headed by Justice Patil, however, allowed a significant leeway for the developers in the judgment by permitting the state-level RERA Authority and the Appellate Tribunal to consider delays on a case-to-case basis, and not to cancel such projects or developers' registration in cases where the delay was caused due to "exceptional and compelling circumstances."
Prime Minister Narendra Modi scored 62.3 per cent in his masters in Political Science, Gujarat University's Vice Chancellor M N Patel has said.
The ED has attached assets to the tune of Rs 9,003 crore and filed 173 charge sheets in the financial year 2014-15.
Debt-ridden mortgage firm DHFL's shares would be delisted from stock exchanges post acquisition by Piramal Capital and Housing Finance, which has emerged as the successful bidder for the company. As part of resolution process under the Insolvency and Bankruptcy Code (IBC), lenders led by Union Bank of India in January this year favoured the bid by Piramal Capital and Housing Finance to take over the beleaguered housing finance firm. According to sources, shares of DHFL would be delisted post acquisition as per the IBC guidelines and Sebi delisting norms.
'There are three pillars of concern: The expansion of Hindu majoritarianism, the concentration of executive power and decay of independent institutions, and curbs on free expression and dissent.'
Amtek Auto was among the first list of 12 companies which were referred by the RBI in 2017 to respective banks for initiation of insolvency process for defaults.
Such was the terror created by the ATS, that all their relatives stayed away.
Geetanjali Krishna explains why this may slow down India's fight against corruption.
The ISRO spy case is dead. And yet, not dead.
Dependence on advertising remains absolute, with about 90 per cent of revenues coming from it.
Till such time that a new governance framework comes into being, the progress of reforms in health, education, land, labour, electricity and agriculture could remain fraught with problems, agitations and delays, observes A K Bhattacharya.
The petition was mentioned on Tuesday by Income Tax counsel Beni Chatterjee and Vodafone lawyer Fereshte Sethna before a bench headed by Chief Justice Mohit Shah.
State real estate regulators are the best option for home-buyers when it comes to seeking relief. The cases are disposed much faster, and the individuals don't need to engage lawyers as the process is simpler, says Tinesh Bhasin.
Simplicity will make the Budget investment-friendly
Wanted diamond merchant Nirav Modi, whose extradition to India was ordered in April by UK Home Secretary Priti Patel in the estimated USD 2-billion Punjab National Bank (PNB) scam case, has lost the first stage of his extradition appeal in the high court in London.
If raters get away by moving from AAA to D overnight after companies default, as happened with DHFL, YES Bank, RCom, and IL&FS, it shows a complete breakdown in the rating system. It calls for exemplary punishment, not kid glove treatment, says Debashis Basu.
Recently, an Air India flyer sent a legal notice to the airline seeking damages of Rs 30 lakh for the breach of personal data of 4.5 million passengers, including her husband and herself. Air India had informed the complainant of the data leak a month earlier, after it emerged that its passenger service system provider fell prey to a cyberattack in February. However, in the absence of a data protection law, India lacks a mechanism for compensation or grievance redress of consumers in such cases, say experts. Advocate Virag Gupta, a New Delhi-based cyber law expert, explains that a legal notice is a good beginning in the Air India case, but it raises many questions. These include whether sensitive personal information has been leaked and whether the airline is responsible or not, given that a passenger service system provider was also involved.
It's been a decade of ordeals for the residents of the plush Mayfield Gardens in Gurgaon who are living in their crore plus apartments without basic amenities of water, power and sewage. A Ganesh Nadar reports.
There is no reason for keeping an entire ministry with a total staff strength of 2,300, just for the oversight of a few aviation sector laws and regulatory bodies, notes A K Bhattacharya.
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