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.
The GST will be a national sales tax that will be levied on consumption of goods or use of services
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.
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-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.
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.
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.
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.'
He was commenting on a reply given by Jaitley to a question in Rajya Sabha.
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.
Of course, NOT! Here's why. And here's how you can increase your Rs 1 crore retirement corpus.
'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.
'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.'
Stocks to watch: Container Corp, Snowman Logistics & Transport Corp
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.
Kumar Mangalam Birla urged young people to 'build in India, build for India and build for the world'.
Major life insurers in India reported close to double-digit growth in the value of new business (VNB) last financial year, primarily driven by increased sales of high-margin protection and non-participating (non-par) products.
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.
The best time to buy health insurance is when you don't think you need it.
The Adani Group-owned Navi Mumbai International Airport is slated to commence international passenger and freighter operations from July 15. This marks a significant expansion for the airport, which began domestic services last December. Air India Express and IndiGo are expected to operate international flights, with customs readiness reviews already completed. The airport anticipates a substantial increase in daily passenger footfall and air traffic movements by the year-end.
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.
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.
The post-mortem report of a senior IRS officer's daughter, who was murdered in her Delhi residence, reveals strangulation as the cause of death, along with multiple injuries indicating a struggle and assault. A former domestic help has been arrested in connection with the crime.
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 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".
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.
This Budget positions India's taxation ideology as not merely a revenue source but as a strategic catalyst for growth, inclusion and long-term confidence.
The proposals outlined in Budget 2026-27 represent a carefully crafted, multi-year strategy designed to strengthen India's big bets on the path to Viksit Bharat 2047, says Sameer Gupta.
Automobile manufacturers have informed NITI Aayog that they face significant challenges in tracing 20-25-year-old vehicles due to multiple ownership changes, hindering their ability to meet Extended Producer Responsibility (EPR) targets for end-of-life vehicles (ELVs). They are seeking government support, including access to updated Vahan registration records, to locate these vehicles and encourage owners to use authorised scrapping centres.
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.
After the last Budget's announcement of a major tax relief for those earning an annual salary of less than Rs 12 lakh, there is not much that individuals can look forward to in the forthcoming Budget, points out A K Bhattacharya.
Meerut police have uncovered a Goods and Services Tax (GST) fraud involving crores of rupees, leading to the arrest of one individual. The investigation revealed a network of fake firms used to illegally claim input tax credits, causing significant losses to the government.
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.
'When I look at India's relative valuations, these are by far the lowest I have seen in my 35-year career.' 'The relative 12-month trailing performance is among the weakest I have seen, and foreign investor positioning is at a 16-17 year low.'
"There is a sharp jump that we have seen in bookings of EVs... The jump, at least in our case, in just two months, it is about 2 to 2.5 times of what it used to be"
Fino Payments Bank's MD and CEO, Rishi Gupta, has been arrested for violating Goods and Services Tax laws, prompting the appointment of Ketan Merchant as the interim head.
