The government proposes to cut custom duties on Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 10 per cent to nil.
The government on Tuesday increased the windfall profit tax on crude oil produced in the country and reduced the levy on exports of diesel. The tax, levied in the form of Special Additional Excise Duty or SAED, on domestically produced crude oil was increased to Rs 9,800 per tonne from Rs 9,050 a tonne, according to an official notification. SAED on the export of diesel was reduced to Rs 2 per litre from Rs 4 a litre and on jet fuel or ATF to nil from Rs 1, the notification said.
Airline systems across airports, which were impacted due to a global IT outage on Friday, have started working normally, and all issues are likely to be resolved by noon on Saturday, Civil Aviation Minister K Rammohan Naidu said. The ministry is constantly monitoring the operations at airports and airlines to ensure travel readjustments and refunds are taken care of, he added.
The hits and misses of the week.
In a relief for foreign firms giving loans to Indian subsidiaries, tax authorities have said goods and services tax (GST) will not be imposed on them, subject to some caveats. Additional fees, commissions, or related payments - over and above the amount charged as interest - on these loans will attract GST at 18 per cent, the Central Board of Indirect Taxes and Customs (CBIC) has said.
Shares of brokerages and market infrastructure institutions (MIIs) witnessed heavy selling pressure following the Securities and Exchange Board of India's (Sebi's) pivot to a uniform fee structure, which analysts fear could dent revenues. Discount brokerages, which currently benefit from a spread between client charges and exchange fees, are expected to be most affected. Shares of Angel One, the third-largest brokerage by active clients, fell 8.7 per cent. Groww and Zerodha, the largest brokerages, are not publicly listed.
With the new government taking charge in Britain, senior officials of India and the UK will hold the next round of talks this month for the proposed free trade agreement to resolve the pending issues and close the negotiations, an official said. The India-UK talks for the proposed free trade agreement (FTA) began in January 2022. The 14th round of talks stalled as the two nations stepped into their general election cycles.
At a time when many Lok Sabha candidates are declaring assets worth crores, 14 candidates in the poll fray in Tamil Nadu, mostly independents, have declared zero assets. They are among 845 candidates of well-established political entities, among whom are 14 contestants with high liabilities of more than Rs five crore, as per an analysis by Association for Democratic Reforms-Tamil Nadu Election Watch.
The Goods and Services Tax (GST) Council, scheduled to meet on June 22, could take a call on ending uncertainty on taxing foreign airlines and shippers as regards certain services, a senior official in the know told Business Standard. He said the Council was expected to decide on exempting the services in question from GST - aircraft lease rentals, maintenance, crew salaries, etc. These services are provided by foreign airlines to their Indian operations.
Manchester City squandered a three-goal lead to draw 3-3 with Feyenoord in the Champions League on Tuesday.
As required, Modi submitted the affidavit while filing his nomination papers Tuesday as an election candidate from the Varanasi parliamentary constituency, a seat he has held twice earlier.
'The local support from our MP is nil. He never comes to see our farms.'
'The wave of terrorism is over in Kashmir. Local people do not support it.'
facilities at Bangalore one understands the financial year end frenzy at these establishments and the slipshod slippages in timeframes, quality of overhaul, servicing and quality control across the board, for aircraft and equipment alike,' says Group Captain Murli Menon (retd).
The government has brought back the windfall profit tax on domestically produced crude oil after international prices firmed up while the levy on export of diesel has been cut to nil, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) is now Rs 6,400 per tonne with effect from Wednesday, the order dated April 18 said. At the last revision on April 4, windfall tax on domestically produced crude oil was cut to nil as international oil prices dipped below $75 per barrel.
The government has cut the windfall profit tax on crude oil produced in the country while the levy on exports of diesel and ATF has been hiked, an official notification said. The tax, levied in the form of special additional excise duty or SAED, on domestically produced crude oil was reduced to Rs 6,700 per tonne from Rs 7,100 a tonne. SAED on the export of diesel was increased to Rs 6 per litre from Rs 5.50 a litre and on jet fuel or ATF to Rs 4 per litre from Rs 2, the notification said.
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
'Ashwiny Iyer comes from a school of Nil Battey Sannata.' 'The writer of the film Nitesh Tiwari made Dangal.' 'So you can see the kind of cinema they have done and how they will treat the film.' 'That will make Bareilly Ki Barfi different.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'Generating employment requires a shift in policy.' 'If not, the country will face economic, social and political challenges in the coming years.'
Prime Minister Narendra Modi would have got a tough fight in Varanasi had Congress general secretary Priyanka Gandhi Vadra contested against him as Indian National Developmental Inclusive Alliance (INDIA) candidate, feel party workers from the temple town.
'My fans always supported me and whenever I was left behind, they pulled me by holding my hand, so I am very grateful.'
All marketplaces in the town were deserted and attendance in government and private offices was nil. Schools and colleges also remained shut, officials said.
'The hardest place to play in the world is India.'
Praggnanandhaa completed a win to book a match against compatriot Erigaisi, making sure an Indian will feature in the semi-final.
After six draws in a row, Praggnanandhaa was relieved after the victory, a result of Gupta's blunder under time pressure.
A day ahead of the interim Budget, India slashed import duty on spare parts, like battery cover, lens and SIM socket, used in mobile phone manufacturing to 10 per cent, from 15 per cent. The duty cut is aimed at boosting local production and exports, as well as reducing prices in local markets. The finance ministry on January 30, notified the cut in duty on all goods for use in manufacture of cellular mobile phones to 10 per cent.
All political parties put together received more than Rs 12,000 crore till last fiscal since the introduction of the now-annulled electoral bond scheme in 2018, of which the ruling BJP got nearly 55 per cent or Rs 6,565 crore, according to the data available with Election Commission and Association for Democratic Reforms (ADR).
Future Gaming of lottery king Santiago Martin was the biggest purchaser of electoral bonds at Rs 1,368 crore, of which nearly 37 percent went to the DMK.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
In a statement later, the White House said Biden and Netanyahu discussed Israel's military campaign in Gaza, including its "objectives and phasing".
'The moment a new election comes, new guarantees are announced.' 'The BJP is adept at diverting people's attention.'
Pakistan's on-field performances not affected by frequent changes in PCB, says acting chairman
India's cement demand has consistently shown double-digit growth over the past few quarters, primarily driven by infrastructure spending. However, dealers and industry executives note that state elections, festival season, and, in some markets, weddings and pollution may temporarily disrupt this demand story. While the festival season typically sees a slowdown in construction activity, some dealers anticipate this lull extending throughout the entire month as multiple states enter election mode.
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
Elections in Jammu and Kashmir can be held "anytime from now" as the work on updation of voters list is almost over, the Centre told the Supreme Court on Thursday but remained non-committal about setting a time-frame for restoration of statehood to the Union territory (UT).
Shareholders have given approval to the appointment of Ambani scions Akash, Isha and Anant on board of Reliance Industries, the company said in a stock exchange filing.
Sacked Rajasthan minister Rajendra Gudha had claimed that the red diary which he had secured from the residence of Congress leader Dharmendra Rathore during an income tax raid in July 2020 on the directions of the chief minister had details of Gehlot's financial transactions.
Both India and Australia will not play a warm-up game ahead of the final beginning at the Oval from June 7.
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