State governments have requested the Centre for export incentives, lifting of import duty in the case of cotton for the textile sector and GST exemptions.
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...
If he cannot do it this term by using his bureaucracy and experts from different fields, it will be a tragedy, asserts Ramesh Menon.
The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, while hiking it on high-end wrist watches, shoes and apparels, besides considering a separate 35 per cent tax slab for sin goods. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is likely to discuss rate rejig in about 148 items, besides, it will also deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
The US remains the largest market for IT outsourcing, and for Indian giants TCS, Infosys and Wipro, it contributes around 40 per cent of their top line.
Turkiye and Azerbaijan backed Pakistan and condemned India's recent strikes on terror camps in that country and Pakistan-occupied Kashmir under Operation Sindoor.
'In diabetes remission, you go below a 6.5 HbA1c without medication.' 'And this happens only when you lose 10 to 15 per cent of your body weight with a good amount of lifestyle and dietary changes, exercise and sometimes medication.' 'You have to be able to sustain your HBA1C below 6.5 for at least a year without medication to say that the patient is in remission.'
Traders in Karnataka are raising concerns over GST demand notices based on UPI transaction data. A tax official defends the action, stating it's within the law and recipients can respond with documentation.
The government has no say in where the country's refiners source oil from because these are commercial transactions.
'I am doing the drive in making sure that people pass this on. So the drive is not with distrust. The drive is just in case.' 'Just in case it doesn't get passed on, I am here.'
'It was like rigorously preparing for a solid, good exam...' 'I don't know what marks I will get, but I felt the rigorous preparation of an exam.' 'You may sweat, but I feel rejuvenated.'
Finance Minister Nirmala Sitharaman on Thursday said there are no changes in tax rates for direct and indirect taxes, including import duties. She also said the number of tax filers has swollen 2.4 times and the direct tax collection has trebled since 2014.
The average Indian worker must labour for an extraordinary 160 full working days to afford Apple's latest iPhone 17 Pro.
'Reinvention is not a hugely difficult task. With technology as available today, you can reinvent yourself pretty quickly.'
The decision to hike US H-1B visa application fee to $100,000, trade talks and the GST rate cut will be the key drivers for stock market movement this week, analysts said.
While the economy will wait for a rate cut in December, the banking industry should be happy with the wave of liberalisation -- a big push for growth in bank credit, points out Tamal Bandyopadhyay.
For every rupee in the government coffer, the biggest pie of 63 paise will come from direct and indirect taxes, according to the Union Budget 2024-25 documents.
In a recent clarification, the Central Board of Indirect Taxes and Customs (CBIC) provided insights into the goods and services tax (GST) treatment of transactions involving vouchers. According to the CBIC, vouchers can be categorised into two types.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Victory wrested from regime that only listens when forced, the TMC said on GST exemption on insurance.
CPGRAMS -- an online platform available to citizens 24x7 to lodge their grievances to public authorities on service delivery -- has existed for close to two decades. But it has never been this active, points out Tamal Bandyopadhyay.
These cases are being reopened under Section 147 of the Income Tax Act, which empowers the department to reassess income if it believes that taxable income has escaped assessment.
As chairman of the parliamentary standing committee on finance, former finance minister, Yashwant Sinha, says he is committed to expediting the legislative work associated with important Bills, including the direct taxes code (DTC) and Goods and Servies Tax.
'Today, we have 2 million active drivers earning through our platform every month.'
Full exemption for all health insurance premiums and reinsurance or a reduction in the GST rate from 18% to 5% on health insurance services is likely.
Gross GST collections remained above the Rs 2 trillion mark for the second month in a row, rising 16.4 per cent in May to over Rs 2.01 lakh crore. Goods and Services Tax (GST) collection had touched a record high of Rs 2.37 lakh crore in April. In May, 2024, the mop up was Rs 1,72,739 crore.
India needs Goods and Services Tax (GST) Council-like common platforms between states and the Centre in areas such as land clearances, power, and water to fast-track infrastructure projects to achieve double-digit growth going ahead, said Praveer Sinha, chief executive officer and managing director of The Tata Power Company.
'His campaign reached into every community, every constituency, with a unifying platform of affordability.' 'Zohran began by listening to Trump supporters and brought many of them to his side because they too care about affordability.' 'Care for the poor is a tenet of every faith; this is the best platform to unite us.'
Goods and Services Tax (GST) collection rose 12.6 per cent Y-o-Y to an all-time high of about Rs 2.37 lakh crore in April, which the government said shows resilience of the Indian economy and the effectiveness of cooperative federalism. The gross GST mop-up was Rs 2.10 lakh crore in April 2024 -- the second highest collection ever since GST was rolled out on July 1, 2017. The net mop-up was Rs 1.92 lakh crore.
Leading FMCG maker HUL said that it has received a demand notice of Rs 962.75 crore from the Income Tax Department and will go in for an appeal against the order. The notice relates to non-deduction of TDS on payment of Rs 3,045 crore to GlaxoSmithKline Consumer Healthcare (GSKCH) for the acquisition of Intellectual Property Rights of the Health Foods Drinks (HFD) business consisting of brands as Horlicks, Boost, Maltova, and Viva, according to a recent exchange filing.
Despite the benefits of hybrid technology, a lack of government backing and few launches have kept the segment from gaining ground.
The rising tide of Indian nationalism meant that the people of princely states now were keen to become a part of a united and integrated India rather than remain subjects of a princely state. The Congress too supported the people's wish and it fell upon Patel to get the princes to agree. He did so magnificently, using every trick available, whether it was sweet talk or coercion; the rulers buckled and Patel earned the eternal gratitude of the entire nation.
'I do believe there will be a resolution in the next couple of months on the penal tariff and hopefully on the reciprocal tariff also.'
'There is responsibility to make great games that are played by audiences, that fill the gap from an entertainment perspective.'
Talking to reporters in New Delhi, Angmo challenged authorities to an open debate on the allegations, including those suggesting links to Pakistan, and said neither she has been able to contact Wangchuk nor has she been provided with formal documents detailing the charges against him by the administration.
'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
Experts say the state's economy is grappling with hidden debt, rising welfare costs, and lack of transparency.
'A balanced portfolio mix of domestic and international equity, fixed income, and precious metals is recommended.'
Commerce and Industry Minister Piyush Goyal will accompany Prime Minister Narendra Modi to London for the signing of the free trade agreement between India and the UK on July 24, an official said on Monday. The two countries announced the conclusion of the negotiations for the trade agreement on May 6.
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