United States President Donald Trump has said India is 'very close' to China in terms of its purchases of Russian oil and will pay tariffs of 50 per cent as he indicated that 'you are going to see so much secondary sanctions'.
'In case a particular industry has not passed on the benefits and if we receive complaints, we will take up the matter with the industry body concerned.'
The appliance makers expect a good churn in the festive season, led by the government's proposal to reduce the GST slab on air-conditioners from the current 28 per cent to 18 per cent, which will reduce the price from Rs 1,500 to Rs 2,500 depending on the models.
'The EC should not have let the initiative go into the hands of the political leadership. By allowing this to happen, they have opened a Pandora's box.'
'India has intentionally taken advantage of the war in Ukraine to dramatically increase its purchases of Russian crude, when there are roughly 40 major crude providers that could satisfy Indian demand.'
FIFA boss Infantino also presented President Trump with the very first ticket to the tournament's grand finale.
China on Friday raised its additional tariffs on imports from the United States to 125 per cent in retaliation to the Trump administration's 145 per cent levies on Chinese exports.
India would neither succumb to the Americans on issues of national security, such as its defence ties with Russia, nor cede ground on its domestic interests in the agriculture and dairy sectors.
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
The relations between New Delhi and Washington are on a downturn after Trump doubled tariffs on Indian goods to a whopping 50 per cent, including 25 per cent additional duties for India's purchase of Russian crude oil.
GST 2.0 may cushion consumers against US tariffs, but like the 2019 corporate tax cut, it risks being another tactical fix rather than a structural growth strategy, expects Debashis Basu.
Images from the English Premier League matches on Saturday, August 30.
Communication channels between India and the US are open to resolve the ongoing tariff issues, and the glitch in trade ties is only temporary, given the long-term relationship between the two nations, government sources said on Wednesday. The US' 50 per cent tariffs on Indian exports to America came into effect from August 27, barring a few sectors.
Son Heung-min said he is "here to win" after he joined Los Angeles FC for a record Major League Soccer transfer fee, ending a decade-long stint at Tottenham Hotspur.
The United States action of levying 25 per cent additional tariff on Indian goods is 'unfair, unjustified and unreasonable', India said on Wednesday in a firm reaction, signalling increasing tensions between the two strategic partners over New Delhi's energy ties with Moscow.
'The biggest point of contention is market access for US agricultural and dairy products.'
'We will be able to anticipate the full picture of the impact after August, which is also the time when demand for a year begins to peak ahead of the December holidays and Valentine's Day.'
Stephen Graham won two awards at the Emmys, including Best Actor for his role in Netflix's hit drama Adolescence as well as Best Writing alongside co-creator Jack Thorne.
'With new technology and stricter checks, cheating on taxes is just not worth it anymore.'
Simplifying GST rates, removing exemptions, easing disputes, and speeding up refunds can boost investment in India and offer the best reply to Trump's tariffs, observes V S Krishnan, former member, Central Board of Indirect Taxes and Customs.
Brave statements such as we will continue to be the fastest growing large country are of no consolation, because the direction of trade also determines the flow of investment, points out M Govinda Rao.
The proposed 'Next Gen GST' with sweeping reforms, lower tax rates, and just two slabs, aims to boost the economy amid tariff threats and set the stage for a single tax rate regime by the time India becomes a developed nation, government sources said.
The GST Council on Saturday clarified that guarantees provided by corporate to their subsidiaries will attract an 18 per cent GST, while no tax will be levied if a personal guarantee is given by a director to the company. The council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state ministers, also cut the GST rate on molasses to 5 per cent from 28 per cent. It also ceded the right to tax Extra Neutral Alcohol (raw product for making alcohol for human consumption) to the states.
India's net direct tax collections contracted 1.3 per cent to about 5.63 trillion as of July 10, with corporate taxes dropping 3.7 per cent and non-corporate taxes recording a fractional 0.04 per cent contraction, Income Tax department data released on Friday revealed.
Gandhi alleged that assembly and Lok Sabha polls were being "stolen" across the country and there was a "conspiracy" in Bihar to do the same through the Special Intensive Revision of electoral rolls.
The deal fell through over unresolved disagreements over contentious issues, mainly on agriculture and automotive sector tariffs.
Amid rising consumer complaints, the Central Consumer Protection Authority (CCPA) on Monday barred hotels and restaurants from levying service charge automatically or by default in food bills and allowed customers to file complaints in case of violation. The CCPA has issued guidelines for preventing unfair trade practices and violation of consumer rights with regard to levying of service charge. "No hotels or restaurants shall add service charge automatically or by default in the bill," CCPA chief commissioner said in the guideline.
Donald Trump's tariffs, meant as political punishment, have avoided the predicted chaos, lifting US growth, weakening rivals, and letting him claim victory in a resilient global economy, observes T T Ram Mohan.
'Just as we cannot surrender the interests of our farmers and dairy industry, Trump is also looking for markets for the produce of the farmers in the Midwest, which are his support base.'
Ange Postecoglou ultimately paid the price for an horrendous English Premier League season which saw Tottenham finish 17th.
India's decision to reserve its rights to impose retaliatory duties on the US over imposition of tariffs on auto parts is a procedural move under the WTO agreement on safeguards and it will not affect ongoing negotiations on the proposed trade pact between the two countries, an official said. India on Friday proposed imposing retaliatory duties under the WTO (World Trade Organisation) norms against the US over American tariffs on imports of the country's auto parts in the name of safeguard measures.
Herman Jansen continues to see India as a strategically-important emerging market despite selling the global rights for Maison House and Savoy Club brands from UTO Asia to Allied Blenders and Distillers (ABD). Herman will focus on growing its European and South East Asian market, Diederik Jansen, chief executive officer and seventh-generation owner of Herman Jansen, which has been producing spirits since 1777, told Business Standard.
For India, the challenge is to strike a balance between tactical necessity and economic priorities, point out Pravin Krishna and Monil Sharma.
US President Donald Trump has announced a 25 per cent plus tariff on India from Aug 1. Trump, describing India as a "friend", said the US has done relatively "little business" with the country because of its high tariffs.
Delhi high court ruling on numbers as trademarks could be a trendsetter.
The United States announced a 25 per cent tariff on India as the White House released an expansive list of duties that Washington, DC will impose on exports from countries around the world.
Without changes to the taxation rules, buybacks are expected to remain scarce.
Cole Palmer scored twice as the Chelsea proved too good for the Parisians, fresh off their maiden Champions League triumph last month.
Aviation regulator DGCA plans to implement measures to control excessive air ticket price increases, following concerns raised during a parliamentary panel meeting. The meeting also addressed air safety issues in light of the Ahmedabad plane crash.
On India, the chart showed that the country charged 52 per cent tariffs on the US "including currency manipulation and trade barriers," and America will now charge India "discounted reciprocal tariffs" of 26 per cent.
