Moody's Ratings has sharply increased India's GDP growth forecast for fiscal 2026-27 to 7 per cent, making it the fastest among G20 economies, driven by economic resilience despite the Middle East conflict. However, the agency flagged significant inflation risks stemming from elevated oil prices and potential El Nino disruptions.
President Donald Trump has announced a promise to issue a USD 5,000 dividend to every adult US citizen if Republicans secure victory in both the House and the Senate in the upcoming midterm elections, citing the nation's economic success under his administration.
Gujarat ATS intercepts a large silver consignment worth 5 crore at Rajkot Airport, suspecting tax evasion.
He was commenting on a reply given by Jaitley to a question in Rajya Sabha.
Left parties have strongly condemned the government's decision to impose charges on UPI payments exceeding Rs 2,000, with CPI General Secretary D Raja alleging the move was made under "US pressure" to favour foreign payment companies. Both CPI and All India Forward Bloc demand the withdrawal of this "anti-people decision," arguing it burdens consumers and merchants while undermining UPI's role as a public digital infrastructure. They highlight concerns that the charges weaken India's digital sovereignty and serve commercial interests of foreign corporations like Visa and Mastercard.
It is important to understand that the rupee's appreciation, driven by the 2013 special swap scheme, reduced India's import costs for petroleum, oil, and gold, points out Dr Ashwani Mahajan, National Co-Convenor, Swadeshi Jagaran Manch.
Indian passenger vehicle manufacturers are significantly increasing production and stocking dealerships in anticipation of strong festival season demand, with new launches planned and supply bottlenecks being addressed. However, the industry faces potential moderation in growth during the second half of FY27 due to a high base from last year's post-GST surge, commodity inflation, and elevated inventory levels.
Lawyers on Tuesday observed a strike to protest against the imposition of service tax on them by Finance Minister Pranab Mukherjee.
The Supreme Court has said that selling land or property is not a service under the Finance Act, 1994, so such sales cannot be charged with service tax.
Do not share OTPs, PINs, authentication codes, card numbers, card verification values (CVVs), KYC details, security answers, Internet-banking passwords or Aadhaar-based authentication credentials through SMS, e-mail or phone calls.
Indian crypto exchanges and companies have expressed strong support for the Central Board of Direct Taxes' (CBDT) new Crypto Asset Reporting Framework (CARF), which mandates reporting and due-diligence obligations for crypto service providers on all transactions starting 2026.
'Every period of excessive optimism eventually gives way to a correction, while periods of extreme pessimism often create the best investment opportunities.'
Economists highlight that resolving domestic policy bottlenecks, particularly through land reforms and improving the ease of doing business, will be critical for Prime Minister Narendra Modi's 'next-generation reforms' and India's economic transformation towards its 'Viksit Bharat' vision for 2047.
DBS Bank India has launched a direct tax payment facility after authorisation from the Central Board of Direct Taxes (CBDT). Utkarsh Small Finance Bank partners with Mumbai Indians as banking partner for T20 League 2026.
Salaried taxpayers should not use these forms blindly to file their income-tax returns.
While top officials of the force, which protects the country's vital installations like nuclear plants and airports, say the service tax is to be paid by its clients and not by CISF and hence there is nothing to be worried about, middle level and ground personnel say they are upset on being 'compared to guards of other private security agencies'.
A viral video showing a woman tourist complaining to security personnel at a Ladakh checkpoint has ignited widespread criticism from military veterans. The woman's tirade, allegedly over vehicular movement restrictions, has been condemned as disrespectful to soldiers and ignorant of the region's security sensitivities.
IDFC First Bank has integrated with ICEGATE 2.0 to enable digital payment of customs duty, central excise, and service tax for its customers.
GSTN has put on hold its planned enhancements to the e-way bill system, providing businesses with crucial time to adapt to the proposed changes amid widespread industry concerns.
The Central Board of Excise and Customs (CBEC) have tightened noose on commercial renting of immovable property and telephone companies by receiving information through other sources to detect any possible evasion of service tax.
While clarifying the provisions of service tax to be levied on services provided by air conditioned restaurants with licence to serve liquor, the CBEC said the value added tax excluded from the taxable value.
'Improved law and order and transparent governance have helped change UP's investment image.'
Mahindra & Mahindra (M&M) Ltd reported a significant 34 per cent year-on-year increase in Profit After Tax (PAT) to Rs 5,455 crore for the June quarter, driven by strong performance in its Auto and Farm segments despite challenging macro-economic conditions.
Many of the legal outfits, which provide consultancy services to corporates that include drafting merger and acquisition agreements, preparing MoUs, rendering advice etc, operate as sole proprietorships.
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As of September, account for bulk of applications for availing of the government's amnesty scheme.
Fitch Ratings has affirmed India's sovereign credit rating at 'BBB-' with a stable outlook, acknowledging robust growth prospects and strong external finances. However, the agency highlighted concerns over elevated government debt, lagging structural metrics, and potential fiscal spending pressures due to rising youth unemployment.
A World Bank report highlights how Artificial Intelligence-powered weather forecasts have enabled small farmers in Telangana, India, to save up to USD 560 by adapting their farming practices to specific risks. The report, "The Promise of Artificial Intelligence," advocates for developing countries to rapidly adopt small, low-cost AI tools to enhance productivity, improve government services, and avoid missing out on the AI revolution.
Tax treatment depends on the activity and manner of earning income.
Traders on Tuesday threatened to launch a nation-wide agitation to protest against imposition of service tax.
The National Stock Exchange of India Ltd (NSE) has received regulatory approval from SEBI for its long-awaited Rs 30,000-crore initial public offering (IPO), positioning it to potentially become the country's largest-ever public issue.
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.
Election-related freebies and populist measures are other factors crimping the revenue profile of these states.
India's gross GST collections increased by 3.2 per cent to over Rs 1.94 lakh crore in May, driven by improved supplies of goods and services and a continued expansion in collections from imports.
A farmer in Budaun, Uttar Pradesh, received tax notices for Rs 14.66 crore due to a fraudulent firm operating in his name in Delhi, prompting an official investigation.
The Indian government has informed the Lok Sabha that the income-tax return (ITR) e-filing portal is functioning in a 'largely stable and efficient manner' despite a significant increase in traffic during the peak filing season. However, it acknowledged transient technical issues and disclosed that contractual penalties have been imposed on Infosys for project delays and service-level agreement failures.
Uttarakhand GST officials conducted an elaborate undercover operation, creating fake firms to expose a company evading over Rs 150 crore in taxes.
