IDFC First Bank has integrated with ICEGATE 2.0 to enable digital payment of customs duty, central excise, and service tax for its customers.
Gross GST collection rose at a slower pace of 0.7 per cent in November at Rs 1.70 lakh crore, as domestic revenues declined, according to the government data released on Monday.
N Chandrasekaran, chairman of Tata Consumer Products (TCPL), stated that India continues to experience credible economic growth, driven by strong demographic fundamentals and accelerating digital public infrastructure, despite a fragmented global landscape.
Banks are receiving requests for cancellation of approved car loans, in view of the implementation of GST rate cut, which will lower the price of passenger vehicles and also lead to subsequent reduction in the amount needed to purchase them. It is to be noted that the 56th GST Council meeting earlier this month, approved substantial reduction in the GST rate for cars for up to 1,200 cc to 18 per cent from the existing 28 per cent.
Prime Minister Narendra Modi lauded the GST Council's overhaul of the Goods and Services Tax (GST) regime, calling it 'GST 2.0' and a significant boost for national growth. He highlighted the simplification of the tax system and the introduction of new rates.
Fuel prices have risen by about Rs 7.5 per litre since May 15, as global crude oil prices surged due to the ongoing conflict in West Asia and supply concerns around the Strait of Hormuz.
Festivals also contribute to the rise in overall automobile retail sales, says dealers association.
Delhi Police have dismantled an organised interstate racket involved in manufacturing and distributing counterfeit life-saving medicines, arresting six individuals and seizing fake drugs worth approximately Rs 2 crore. The investigation also revealed a network of fake GST firms used for generating bogus invoices and laundering money.
A farmer in Uttar Pradesh, India, was shocked to receive tax notices for millions of rupees due to a fraudulent firm operating under his name in Delhi. An investigation has been launched to address the identity theft and tax evasion.
Kanpur Police have dismantled a sophisticated cyber fraud syndicate, arresting eight individuals, including five bank officials, for facilitating mule accounts and hawala transactions worth Rs 125 crore.
'High taxes have kept away art collectors who will now embrace the new GST.'
The life insurance industry recorded nearly 40 per cent year-on-year (Y-o-Y) growth in new business premiums (NBP), aided by the rationalisation of goods and services tax (GST) on individual life insurance premiums, which has made policies more affordable for consumers.
The start of the West Asia conflict has led to a sharp increase in crude-linked raw material prices, pushing up the price of helmets across the country.
Congress leader Rahul Gandhi criticised Prime Minister Narendra Modi and West Bengal Chief Minister Mamata Banerjee, accusing them of favouring the wealthy over the poor and prioritising power.
Tata Motors emerged as the biggest gainer in the passenger vehicles (PV) market in the second half of FY25, following a GST rate cut in September, achieving the highest growth among major OEMs and overtaking Mahindra & Mahindra in volumes.
India's total automobile retail sales recorded a significant 9.55 per cent year-on-year growth in May, reaching an all-time high of 25,31,067 units, driven by strong performances in three-wheelers, passenger vehicles, and tractors, despite prevailing heatwave conditions and fuel price pressures.
A farmer in Budaun, Uttar Pradesh, received tax notices for Rs 14.66 crore due to a fraudulent firm operating in his name in Delhi, prompting an official investigation.
Tata Motors' MD and CEO, Girish Wagh, has identified rising diesel prices as the most significant threat to India's commercial vehicle (CV) industry recovery, despite the sector recently surpassing its pre-FY19 wholesale peak. Diesel costs account for 25-50% of a truck operator's total cost of ownership, making any increase a critical concern for fleet economics.
Prime Minister Modi urged the people of the country to take pride in selling and buying indigenous goods.
Opposition-ruled states warn of steep annual losses; Centre assures higher consumption will offset revenue hit.
The demand for passenger vehicles (PVs) is expected to sustain even beyond the ongoing festival season as a new set of customers, those who gained confidence to buy cars following the recent GST rate cuts, will begin to visit dealerships now, said Shailesh Chandra, president of the Society of Indian Automobile Manufacturers (Siam), on Wednesday.
A five day workshop that allows children to free their imagination and create a portfolio of their stories.
'We are seeing a lot of people with helmets visiting our showrooms.'
The Nifty 50 firms' contribution to the overall earnings of India Inc has steadily declined, reaching its lowest share in at least 21 quarters at 47.1 per cent in Q4FY26, down from 51.8 per cent a year earlier.
Punjab Chief Minister Bhagwant Mann and AAP national convener Arvind Kejriwal met jailed state minister Sanjeev Arora in Gurugram. Arora is in judicial custody in connection with an alleged money-laundering case.
The conflict may disrupt Budget 2026-2027 projections, squeezing revenues and raising subsidies, prompting fiscal adjustments and potential reforms, echoing lessons from the Covid-era shock, points out A K Bhattacharya.
Victory wrested from regime that only listens when forced, the TMC said on GST exemption on insurance.
rediffGURU T S Khurana answers readers' personal income tax queries
'It has always been viewed as a hedge against inflation.'
The Congress party has criticized Prime Minister Narendra Modi's handling of GST reforms, calling them inadequate and demanding an apology for the tax imposed on essential items. They argue that the reforms are merely a 'band-aid' solution and that the government should address the states' demand for extended compensation.
With lower GST rates taking effect, fast-moving consumer goods players face challenges in setting reduced prices for their products in round figures, but expect the magical price points to be restored within two months.
The government's move to cut GST on medicines and medical devices while exempting lifesaving drugs from the levy is a bold step that will bring direct relief to patients and families while significantly reducing financial strain on them, pharmaceuticals and healthcare industry players said on Thursday.
Gross GST collection rose 9.1 per cent to over Rs 1.89 lakh crore in September on the back of increased sales due to rate rationalisation, as per government data released on Wednesday.
'Customers do not recover the original making charges paid on old jewellery. Sentimental value is lost when heirlooms are exchanged.'
Reduction of GST on health insurance premium from 18% to 0% looks like a straight 18% reduction in what consumers pay. The truth, however, is...
Union Minister Nitin Gadkari has called for Indian companies to form joint ventures with US companies to leverage new technologies, while also expressing an ambitious target to make India's automobile industry the world's number one within five years.
Foreign portfolio investors sold stocks worth Rs 1.42 trillion in 2025, with their sales hitting Rs 12,257 crore in the first four trading days of September.
Wholesale price inflation (WPI) fell to (-) 1 .21 per cent in October, driven by a decline in prices of food articles like pulses and vegetables, as well as lower fuel and manufactured items' prices, government data showed on Friday.
Indian carmakers experienced a robust start to the new fiscal year, with an estimated 4.5 lakh passenger vehicles sold in April, marking a 27 per cent increase year-on-year, attributed to factors like GST 2.0, repo rate cuts, and income tax benefits.
New lower GST rates kicked in from Monday, resulting in a slashing of prices of as many as 375 items ranging from toothpaste and shampoo to cars and television sets, a move seen as an attempt to boost consumption to cushion an economy facing tariff headwinds. Tax rates of 5, 12, 18, and 28 per cent have been clubbed into two rates of 5 per cent and 18 per cent, resulting in a reduced price of 99 per cent of daily use items.
