Amid the impending rejig in the goods and services tax (GST) rates, an association representing the country's beverages industry has appealed to the Centre to not classify aerated beverages as sin/demerit good and bring it under the 18 per cent slab while citing their "mass consumption" as a reason.
'Removing Nitish Kumar prematurely risks unsettling both the alliance balance and parts of the social coalition that delivered this victory.'
With lower GST rates taking effect, fast-moving consumer goods players face challenges in setting reduced prices for their products in round figures, but expect the magical price points to be restored within two months.
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
New lower GST rates kicked in from Monday, resulting in a slashing of prices of as many as 375 items ranging from toothpaste and shampoo to cars and television sets, a move seen as an attempt to boost consumption to cushion an economy facing tariff headwinds. Tax rates of 5, 12, 18, and 28 per cent have been clubbed into two rates of 5 per cent and 18 per cent, resulting in a reduced price of 99 per cent of daily use items.
'Having a separate healthcare corpus is extremely important even for those already covered by health insurance.'
The time taken by the income-tax department to process refunds has dropped sharply from 93 days in 2013.
'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.'
A string of welfare schemes and promises tests the state's budget, which is already heavily dependent on central support and spends little as capital outlay.
Marico is expected to post high single-digit volume growth in the India business in the July-September quarter. However, it is expected to moderate sequentially, the company said in its quarterly update on exchanges.
New investors should not allow themselves to fall prey to FOMO and rush headlong into gold.
'States should be compensated for the revenue loss for at least five years or beyond till the revenue stabilises.'
What has surprised the industry is that the Bill has been tabled without any consultation. Critics warn the ban on real-money gaming could fuel black markets, endanger 200,000 jobs and billions in tax revenue.
'With new technology and stricter checks, cheating on taxes is just not worth it anymore.'
'Tax officials view most taxpayers as evaders.' 'The I-T department has a perverse incentive to raise unreasonable demands since the one-fifth tax collected counts towards officials' collection targets,' observes Harsh Roongta.
'Some buyers get carried away by festival offers and purchase higher variants or larger vehicles than they truly need, which impacts running cost and long-term affordability.'
Information technology major Tata Consultancy Services (TCS) on Friday termed the tax demand notices received by several of its employees a "discrepancy," and the tax department will be reprocessing the returns. "We understand that the tax authorities will be reprocessing the returns, post which TDS shall be in sync with Form 26AS issued by the Income Tax Department, and Form 16 Part A issued by TCS. Associates that received the notice will receive a rectification intimation in due course and are not required to pay any demand amount.
Conservative investors seeking equity-like tax benefits with low risk may go for them.
'The hearing is not adversarial but inquisitorial in nature -- it allows Sebi to examine the context, the strategy, and the intent behind the trades, particularly when algorithmic and expiry-day trading are involved.'
The rationalisation of goods and services tax (GST), announced on Wednesday, directly lowers the cost of everyday medical consumables, and also high-end therapies in oncology and rare diseases, helping reduce out-of-pocket patient expenditure and better adherence to medication.
India's corporate bond market, driven by public sector undertaking (PSU) banks and financial institutions last year, is losing momentum since the second quarter of FY26.
Reliance Industries' refining earnings will remain steady, supported by its position as India's largest importer of Russian crude and favourable global supplies, according to analysts at JM Financial and Goldman Sachs. Reliance imported more Russian barrels than any other Indian refiner in the past eight months, according to data from Bloomberg/Kpler.
Who's telling the truth? The government? Or the high-profile group with interests in para banking, aviation, real estate and the media?
Who's telling the truth about the Sahara India group? The government of India? Or the high-profile corporate group with interests in para banking, aviation, real estate and the media?
If he cannot do it this term by using his bureaucracy and experts from different fields, it will be a tragedy, asserts Ramesh Menon.
GST Network on Saturday said beginning the July tax period, GST taxpayers will not be able to file monthly and annual GST returns after three years of the original filing due date. The July 2025 tax period means taxpayers will file
'Experts and stakeholders have raised concern over the refund provision in the draft Bill. That was a drafting error, which will be rectified,' a government official said.
The Supreme Court has sought responses from the Centre and the Ladakh administration regarding the detention of climate activist Sonam Wangchuk under the National Security Act (NSA). Wangchuk's wife has filed a plea challenging the detention, claiming it violates his fundamental rights. The court has given the Centre and Ladakh administration 10 days to respond and has scheduled the next hearing for November 24.
Banks are receiving requests for cancellation of approved car loans, in view of the implementation of GST rate cut, which will lower the price of passenger vehicles and also lead to subsequent reduction in the amount needed to purchase them. It is to be noted that the 56th GST Council meeting earlier this month, approved substantial reduction in the GST rate for cars for up to 1,200 cc to 18 per cent from the existing 28 per cent.
Submitting a late return helps you stay compliant with tax regulations and avoid legal issues.
Recent developments - proposed changes to the goods and services tax (GST) rates and S&P Global Ratings' upgrade of India's long-term sovereign credit rating to BBB, with a stable outlook, - may not be enough to bring foreign investors back to Indian markets in a rush, feel analysts.
'In diabetes remission, you go below a 6.5 HbA1c without medication.' 'And this happens only when you lose 10 to 15 per cent of your body weight with a good amount of lifestyle and dietary changes, exercise and sometimes medication.' 'You have to be able to sustain your HBA1C below 6.5 for at least a year without medication to say that the patient is in remission.'
The tax department has created many circular traps -- flawed reporting formats, penalties for those who point out the flaws, and faceless assessors with no accountability. The result: Millions of taxpayers face needless harassment and procedural dead ends, highlights Harsh Roongta.
'Nearly 10 million people will benefit from the increase in the rebate limit for those earning up to Rs 12 lakh.' 'We expect all that money will come back into the economy in either savings, consumption, or investments.'
'Today is a black day for Nepal -- when bullets respond to the voice of the people, outrage against corruption and demand for justice.'
From the Sensex firms, Tata Motors jumped the most by 5.54 per cent, followed by Kotak Mahindra Bank, Trent, Sun Pharma, Axis Bank, and ICICI Bank. However, Bajaj Finance, State Bank of India, UltraTech Cement and Tata Steel were among the laggards.
Despite similar tax treatment, debt MFs enjoy certain advantages over FDs.
CAG warns most states of fiscal imprudence as March spending overshoots limits, with key departments exhausting large portions of budgets in the last month of FY24.
According to experts, even if an additional 5 per cent of people opt to buy new vehicles, it may bring a huge boost to the sector.
The 2023-2024 figures showed that the size of the industry, excluding those having an annual turnover of Rs 20 crore, could be Rs 30,652 crore, assuming no tax evasion.
