Companies with "gas guzzlers" are trying to set up the wrong narrative against small cars getting relaxation in the proposed corporate average fuel efficiency (CAFE-III) norms on the basis of weight, Maruti Suzuki senior executive officer corporate affairs Rahul Bharti said on Monday, bringing to the fore deep division among carmakers regarding the upcoming rules.
The Indian government has expressed its disagreement with the IMF staff's 'baseline' assumption that the 50 per cent US tariffs on its goods exports 'would remain in place indefinitely', based on which the staff pegged the country's GDP growth at 6.6 per cent this year, and pared its 2026-27 projection by 20 basis points to 6.2 per cent.
The 31st meeting of the Goods and Services Tax (GST) Council, held in December 2018, deferred a decision to reduce the GST rate for cement from 28 per cent to 18 per cent. This was despite recognising that cement - along with automobile parts - remained among the few mass-consumption items still taxed at the highest slab, which was originally meant for luxury and sin goods.
Passenger vehicle retail sales shot up 35 per cent year-on-year during the nine-day Navratri period this year, helping the overall registrations last month grow 6 per cent, as offtakes remained muted in the first 21 days of the month and only took off after the roll-out of new GST rates on September 22, dealer' body FADA said on Tuesday.
India's Diwali sales touched a record Rs 6.05 lakh crore -- comprising Rs 5.40 lakh crore in goods and Rs 65,000 crore in services -- buoyed by the recent GST reform and strong consumer sentiment, traders' lobby CAIT said on Tuesday. The Confederation of All India Traders (CAIT) based its findings on a nation-wide survey across 60 major distribution centres including state capitals and Tier 2 & 3 cities conducted by its research wing.
Finance Minister Nirmala Sitharaman on Saturday said the GST rates will come down further and the work on rationalising tax rates and slabs has "almost reached a finale". She said that the revenue neutral rate (RNR) has come down from 15.8 per cent at the time of the launch of GST on July 1, 2017, to 11.4 per cent in 2023.
Mahindra & Mahindra on Tuesday posted a 28 per cent year-on-year increase in its consolidated profit after tax to Rs 3,673 crore for the second quarter ended September 30, 2025, driven by robust performance of the farm sector, while also seeing the impact of the GST transition on the auto sector. The company reported a profit after tax (PAT) of Rs 2,867 crore for the July-September period of the last fiscal.
Recalling or relabelling medicines already in the supply chain before September 22 will not be mandatory, the finance ministry said on Tuesday, issuing a fresh set of frequently asked questions (FAQs) to address industry concerns following the announcement of goods and services tax (GST) revisions.
State-owned insurer LIC on Thursday reported a 32 per cent jump in net profit to Rs 10,053 crore for the second quarter ended September 30, aided by a lower commission outgo. The country's biggest insurer had reported a net profit of Rs 7,621 crore in the year-ago period.
The revised guidelines are aimed at curbing discretionary practices by field officers, especially the tendency to seek documents not mandated under the law.
A day after it received Rs 32,403 crore GST demand, Infosys on Thursday said Karnataka state authorities have withdrawn the 'pre-show cause' notice to the company and directed it to submit further response to the Directorate General of GST Intelligence (DGGI) on the issue. India's second largest IT company had made headlines on Wednesday after GST authorities slapped a Rs 32,403 crore notice on it for services availed by the company from its overseas branches for five years starting 2017.
The change in the government's engagement with the economy's need for reforms is more nuanced than how analysts have so far perceived it, points out A K Bhattacharya.
The consumer price index (CPI)-based inflation hitting an all-time low in October would encourage the six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) to cut the policy repo rate in its upcoming December 3-5 meeting. However, the July-September GDP growth, expected to be above 7 per cent, may act as a deterrent.
Retail inflation slipped to 1.54 per cent in September from 2.07 per cent in the preceding month mainly due to subdued prices of food items, including vegetables and pulses, according to government data released on Monday. The consumer price index (CPI) based inflation was 5.49 per cent in September 2024.
Passenger vehicle dispatches from companies to dealers rose 4 per cent year-on-year in September to 372,458 units, industry body SIAM said on Wednesday. The overall passenger vehicle dispatches last month rose 4.4 per cent to 372,458 units, as against 356,752 units in September 2024.
Gross GST collection grew 9 per cent to over Rs 1.87 lakh crore in October on higher revenues from domestic transactions. The Central GST collection stood at Rs 33,821 crore, State GST at Rs 41,864 crore, Integrated IGST at Rs 99,111 crore and cess at Rs 12,550 crore.
India's second largest IT services company Infosys has been slapped with a 'pre-show cause' notice for alleged GST evasion to the tune of about Rs 32,403 crore. In a BSE filing, the Bengaluru headquartered IT firm said Karnataka State GST authorities have issued a pre-show cause notice for payment of GST of Rs 32,403 crores for the period July 2017 to March 2022, towards the expenses incurred by overseas branch offices of Infosys Ltd, and added that the company has responded to the pre-show cause notice.
The Indian banking sector could be due for a rise in profitability after several quarters of net interest margin (NIM) compression. The Q2FY26 results suggest NIMs have bottomed out.
'If the targets become unscientific and unjust, Then, just to meet CAFE-III regulation, a small car -- which produces a very low absolute carbon dioxide -- will have to be discontinued.'
Domestic PMI data, US Federal Reserve meeting minutes and the progress on India-US trade deal negotiations are likely to influence movement in the equity market in the week ahead, according to analysts. Moreover, the trading activity of foreign investors would also influence the equity market trends.
These losses increase insurance premiums for customers and reduce insurer margins on the other.
Finance Minister Nirmala Sitharaman on Thursday said the country needs big and world-class banks, and discussions are on with the Reserve Bank and lenders in this regard.
The country's gross GST collections hit a record high of Rs 2.10 lakh crore in April, growing 12.4 per cent year on year driven by a strong increase in domestic transactions and imports. GST collections breach landmark milestone of Rs 2 lakh crore, the finance ministry said in a statement.
The decision to hike US H-1B visa application fee to $100,000, trade talks and the GST rate cut will be the key drivers for stock market movement this week, analysts said.
India's brittle energy security is inextricably linked to two opposing paradigms - fossil fuels, and the transition to green energy. The first powers the present; the second paves the way for Viksit Bharat in 2047.
The BJP flayed Gandhi for "echoing" Trump's "dead economy" jibe at India, calling it a "shameful" insult to the aspirations, achievements, and well-being of the people of the country.
'That is going to have an impact on literally every one, whether you buy a toothpaste, a safety pin, a car, shoes or medicines or you go to a diagnostic centre.'
The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, while hiking it on high-end wrist watches, shoes and apparels, besides considering a separate 35 per cent tax slab for sin goods. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is likely to discuss rate rejig in about 148 items, besides, it will also deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
The gross GST collection increased 8 per cent to Rs 1.74 lakh crore in June, sources said on Monday. The government, however, has discontinued the official release of monthly GST collection data, they added. Sources said the gross Goods and Services Tax (GST) collection so far this fiscal (April-June) stood at Rs 5.57 lakh crore.
'A bus driver should possess a comprehensive road plan: Toll plazas, major hospitals, road conditions, repairs, diversions, and dangerous areas.' 'Only through such preparation can we save lives.' 'Otherwise, simply sitting in the driver's seat and pressing the accelerator -- anyone can do that.'
Among Sensex firms, Tata Steel jumped the most by 5.90 per cent. Titan, Mahindra & Mahindra, ITC, Eternal, State Bank of India, and Trent were among the other gainers. However, Infosys, NTPC, Hindustan Unilever, TCS, Adani Ports and Bharti Airtel were among the laggards.
'Rates go up, revenues go up, and the need for compensation diminishes.'
Banks and NBFCs are launching festival offers, including lower loan rates, cashback, EMI schemes and GST-linked benefits to tap rising demand ahead of Diwali
Congress leader Rahul Gandhi launched a scathing attack on Prime Minister Narendra Modi during rallies in Bihar, accusing him of prioritizing votes over genuine governance and alleging that the BJP is controlling the state government through remote control.
'This is an area where good lending can happen, and that is one of the priorities for the next quarter.'
Growth accelerated for Zomato operator Eternal in the second quarter of financial year 2026 (Q2FY26). Zomato's business to commerce (B2C) operations delivered a strong 57 per cent year-on-year (Y-o-Y) rise in net order value (NOV) to Rs 23,164 crore while consolidated revenue soared 183 per cent Y-o-Y (90 per cent Q-o-Q) to Rs 13,590 crore during the period, with like-for-like (LFL) growth of 65 per cent, and acceleration in the quick commerce (QC) segment, which recorded NOV growth of 137 per cent Y-o-Y (27 per cent Q-o-Q).
Gross GST revenue rose 12.3 per cent to Rs 1.96 lakh crore in January on higher domestic economic activity, government data showed on Saturday. This includes 10.4 per cent growth in revenue from sale of goods and services domestically at Rs 1.47 lakh crore and 19.8 per cent rise in tax revenue from imported goods at Rs 48,382 crore.
The GST Council on Saturday postponed a decision on cutting tax rate on life and health insurance premiums, officials said. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, decided that some more technicalities needed to be ironed out and tasked the GoM for further deliberations.
The World Bank on Tuesday raised India's growth forecast for the current fiscal to 6.5 per cent from 6.3 per cent estimated earlier, and said the country is expected to remain fastest-growing major economy, underpinned by continued strength in consumption growth.
The move offers flexibility in compliance but also places penalties squarely on the designated manager of such a pool.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances