'Users should protect their savings goals before allocating money to discretionary expenditure.'
The Indian government has marginally exceeded its indirect tax collection target for fiscal year 2025-26, with strong performances in customs, excise, and GST revenues.
'It is not because of the war in West Asia, which began on February 28.' 'Petroleum product prices are already going through the roof. They are bound to have a serious inflationary impact.' 'A country's leadership is tested in trying times. It is here that the current leadership is failing.'
Businesses across sectors are positioning themselves to capitalise on the expected surge in demand.
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.
Despite the Centre's GST 2.0 guidelines aiming to facilitate provisional refunds within seven days for low-risk cases, many large taxpayers are still encountering significant delays in obtaining Goods and Services Tax (GST) refunds under the inverted duty structure (IDS), with experts citing inconsistent state-level scrutiny and subjective interpretations.
HDFC Life Insurance and ICICI Prudential Life Insurance have reported double-digit growth in profitability for the first quarter of FY27, buoyed by healthy premium collections and increased investment income, with HDFC Life's net profit rising 11.9% and ICICI Pru's by 27.8%.
Maruti Suzuki Chairman R C Bhargava is pushing for increased government incentives for biogas-powered vehicles over hybrids, emphasising their net-zero carbon emissions and the valuable organic manure they produce, while also advocating for continued GST benefits for electric vehicles.
He was commenting on a reply given by Jaitley to a question in Rajya Sabha.
ServiceNow Vice Chairman Nick Tzitzon highlights India's potential to develop an AI-native government model, emphasising enhanced public services, data privacy, and economic growth.
ICICI Bank has received a demand notice of 768.6 crore from tax authorities for alleged short payment of GST, related to services provided to customers maintaining minimum balances.
rediffGURU T S Khurana answers readers' personal income tax queries
Stocks to watch: Container Corp, Snowman Logistics & Transport Corp
The Commercial Taxes Department has arrested Mohammed Tauqeer for his involvement in generating and routing fraudulent ITC across multiple states, unearthing a GST fraud worth Rs 410 crore.
Non-banking financial companies (NBFCs) reported encouraging results for Q4FY26 with improved asset quality and earnings, but analysts maintain a cautious near-term outlook due to geopolitical tensions, monsoon risks, and specific portfolio concerns.
Seeking to allay fears of traders who have threatened to go on a nationwide strike opposing the service tax, the government on Tuesday said the liability to pay the tax is on goods transport agencies.
Police in Lucknow busted a gang that misused the Mudra loan scheme to create fake GST firms and commit input tax credit fraud worth approximately Rs 1.3 crore.
The Union Budget, while keeping the service tax rate unchanged at 10 per cent, has expanded its ambit to include services provided by legal consultancy and advisory firms. The tax would, however, not be applicable if the service provider or receiver is an individual.
The World Bank has increased India's economic growth projection for FY27 to 6.6 per cent, citing resilient domestic demand, while simultaneously cutting its global economic growth outlook due to the conflict in West Asia.
Reliance Industries Ltd reported a 22 per cent year-on-year decline in consolidated net profit for the June quarter, primarily because the previous year's earnings were inflated by a one-time gain from the sale of its stake in Asian Paints.
Non-resident Indians (NRIs) in the Gulf region are increasingly purchasing term life insurance policies from India, driven by geopolitical uncertainties in West Asia and the significant cost advantages offered by Indian products, with the GCC region now contributing over half of the total NRI demand.
The government said remittances from abroad will not attract service tax, putting to rest the concerns raised in view of new tax norms.
The trade policy specifies that "for all goods and services exported from India, services received, rendered abroad, wherever possible, shall be exempted from service tax".
The Indian central government has reduced its total expenditure by approximately 60,000 crore in FY26, below its revised estimate, to successfully achieve the fiscal deficit target of 4.4 per cent of gross domestic product (GDP), according to the latest data from the Controller General of Accounts (CGA).
'In India's case, an extended earnings slowdown accompanied by rich valuations have dimmed returns since late 2024.'
Providing relief to exporters hit by the rise in rupee value, the government on Monday announced they would be exempted from tax on services rendered by ports, road transport and railways.
Bharti Airtel added 7.64 trillion in value over the past five years, making it the biggest wealth creator in India's private sector, while the IT sector, including TCS, Infosys, and Wipro, collectively lost 8.5 trillion in value, according to the latest Burgundy Private Hurun India 500 report.
Get ready to shell out more for your movie tickets, cricket matches or visits to amusement parks as all recreation services will come under service tax later this year.
The net liquidity surplus in the banking system fell to Rs 16,875 crore on Thursday the latest data by the Reserve Bank of India (RBI) showed, lowest since 22 January.
State FMs okay list of tax-exempt services with certain riders.
'There has to be a safe harbour for licensed entities, which have followed all the norms prescribed by the RBI.'
ITC reported a 6.1 per cent year-on-year growth in its consolidated adjusted net profit from continuing operations, reaching ~5,469.74 crore in the January-March quarter (Q4FY26), primarily fuelled by strong performances in its cigarettes and non-cigarette fast-moving consumer goods (FMCG) businesses.
To meet liquidity pressure because of advance tax outflows this month, the Reserve Bank of India (RBI) has adopted a measured approach with its latest announcement of open-market operations (OMOs), worth Rs 1 trillion.
Indian insurance companies are bracing for reduced profitability in Q4FY26, primarily due to the rationalisation of GST on retail life and health policies, leading to a loss of input tax credit, coupled with volatility in equity markets impacting investment income.
India Inc on Tuesday sought tax cuts in the forthcoming Budget, even as it asked the government to move towards an effective goods and services tax rate of 15 per cent in the next few years.
Not a single retail outlet ran dry. Every household that wanted a cylinder got one. India faced neither a 1991 moment nor a 2013 one. Macroeconomic stability held. This was not an accident, and it was not luck alone. It was the work of a government that chose to act as it had during the pandemic -- deliberately and gradually, building one measure upon another rather than reaching for a single dramatic lever, explains V Anantha Nageswaran, chief economic advisor to the Government of India.
Move seen as prelude to GST rollout; rules for Cenvat credit also likely to be simplified.
Of course, NOT! Here's why. And here's how you can increase your Rs 1 crore retirement corpus.
'The real Bharat Bhhagya Viddhaata are the citizens of our country.' 'The Delhi government will make the film tax-free in the city so that every citizen is able to watch it.'
