President Trump made these remarks on Monday while talking to reporters aboard Air Force One on his way back to Joint Base Andrews from Florida.
In a recent clarification, the Central Board of Indirect Taxes and Customs (CBIC) provided insights into the goods and services tax (GST) treatment of transactions involving vouchers. According to the CBIC, vouchers can be categorised into two types.
Following the lacklustre growth numbers in the second quarter (Q2FY25), economists believe the upcoming Union Budget for 2025-26 should focus on reforms that will stimulate consumption, manufacturing and spur employment. India's growth unexpectedly slowed to 5.4 per cent in the second quarter, due to low capital formation, weak consumption, besides adverse weather impact.
As the Union Budget 2025-2026 (FY26) inches closer, the Indian real estate industry is seeking stamp duty cuts, revised home loan limits and updated affordable housing norms through Pradhan Mantri Awas Yojna (PMAY), single-window clearance and eco-friendly policies, among others. Industry leaders and consultancy firms, including Anarock, Raheja, Gaurs, Kanodia Group, Reach, Urban Space, Justo and Eros Group, have shared their expectations.
The Budget should undertake further reductions in import tariffs and seriously consider an announcement of India's intention to join one or both of the two Asian mega-regional free trade agreements, suggests Shankar Acharya, former chief economic adviser to the Government of India.
The number of cyberfraud cases has skyrocketed from 2,677 in 1999-2000 to 29,082 in FY24 -- more than a 10-fold increase. The RBI pegs digital payment frauds at Rs 1,457 crore in FY24, up more than five times in a year. It's not just the number of frauds. What's alarming is the growing sophistication of the fraudsters, exposing the vulnerabilities within the financial system, observes Tamal Bandyopadhyay.
Goods and Services Tax (GST) collections in September, in gross terms, were at Rs 1.73 lakh crore, with a yearly jump of 6.5 per cent, according to data from finance ministry released on Tuesday. In September 2023, the total collection was to the tune of Rs 1.62 lakh crore. CGST, SGST, IGST, and cess all increased year-on-year in September, official data made available on Tuesday showed.
Reserve Bank Governor Shaktikanta Das on Tuesday said the fiscal-monetary coordination was at its best during the last six years even as he thanked Prime Minister Narendra Modi for giving the opportunity to head the monetary authority of the country. Das, in a series of posts on X, on his last day of his six-year term as RBI Governor, also thanked the Finance Minister, various stakeholders and his colleagues at the central bank.
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street.
'Rates go up, revenues go up, and the need for compensation diminishes.'
'IndiGo's position in this argument will depend on whether it has registered '6e' as a trademark.'
'If weak indicators persist, there is a risk that India could slip into a prolonged slowdown similar to the one experienced between 2014 and 2019,' warns Debashis Basu.
The unemployment rate for people aged 15 years and above in urban areas dipped to 6.4 per cent in the July-September quarter, according to the National Sample Survey Survey (NSSO). Joblessness, or unemployment rate, is defined as the percentage of unemployed people in the labour force. The unemployment rate in the September quarter of FY24 was 6.6 per cent.
The Indian Diaspora has been able to carve a niche in their adopted countries as a result of their talent, perseverance and hardworking nature, asserts Rup Narayan Das.
HAL, BEL and MDL feature on Sipri's list of the 100 largest arms producers in the world.
Sources said that Langa and an unidentified employee of the Gujarat Maritime Board (GMB) have been booked on the charges of theft and under relevant sections of the Prevention of Corruption Act.
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.
India's merchandise exports in June increased 2.56 per cent to $35.2 billion from $34.32 billion in the year-ago month, according to government data released on Monday. Imports rose by about 5 per cent to $56.18 billion in June against $53.51 billion a year ago.
Following detailed questioning, journalist Mahesh Langa was arrested by the Crime Branch on Tuesday morning, Deputy Commissioner of Police (Crime) Ajit Rajian said. "The central GST had found some suspicious transactions in bogus firms floated in the name of Mahesh Langa's wife and father using forged documents. Langa has been arrested for further investigation," he said.
Businesses across the country may soon be required to issue electronic invoices, or e-invoices, directly to consumers for the sale of goods and services. The Goods and Services Tax (GST) Council, in its forthcoming meeting on Monday, is expected to discuss extending the e-invoicing mandate to cover business-to-consumer (B2C) transactions. Currently, e-invoicing is compulsory for businesses with a turnover of Rs 5 crore and above, but only for their business-to-business (B2B) transactions.
Gold imports more than doubled in August to a record high of $10.06 billion, mainly on account of a drastic cut in customs duty and ongoing festive demand, according to the Commerce Ministry data. Gold imports stood at $4.93 billion in August 2023. On record high imports, Commerce Secretary Sunil Barthwal said that the tariff rates on gold have been reduced drastically so that smuggling and other activities can come down.
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.
The tax would create a single market in India for the first time.
It will be the second Budget of the Modi 3.0 government and eighth straight Budget for Nirmala Sitharaman, rare in Indian polity.
India's merchandise exports in October rose by 17.25 per cent to $39.2 billion against $33.43 billion a year ago, according to government data released on Thursday. Imports increased by 3.9 per cent to $66.34 billion in October compared to $63.86 billion in the year-ago period.
The highest-ever goods and services tax (GST) evasion has been done by the online money gaming industry.
'This case is not a good example of intellectual property strategy for either sector.'
India Inc on Tuesday sought tax cuts in the forthcoming Budget, even as it asked the government to move towards an effective goods and services tax rate of 15 per cent in the next few years.
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
The Securities and Exchange Board of India (Sebi) has intervened in the matter concerning alleged irregularities by Trafiksol ITS Technologies, which had come out with a Rs 45 crore initial public offering (IPO) last month. In an ex-parte order, the market regulator has said it will undertake a detailed examination into the disclosures made by the small and medium enterprise (SME) company in its draft offer document. BSE had halted the listing of Trafiksol, a software provider for traffic systems, amid complaints around use of the issue proceeds and wrongful disclosures.
India's services sector activity fell to a 10-month low in September as new businesses, international sales and output growth moderated, a monthly survey said on Friday. The seasonally adjusted HSBC India Services Business Activity Index fell from 60.9 in August to 57.7 in September, indicating that though the output registered an increase, the pace of growth was the slowest since November 2023. In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
Sri Annapoorna Hotel on Saturday appealed to the people to put to rest unnecessary assumptions and political misunderstanding after a video of its owner apologising to Union Finance Minister Nirmala Sitharaman over his remarks on Goods and Services Tax (GST) went viral on September 13.
'Within India, people want high-quality, personalised banking services, and the demand for such services has exploded.'
In a relatively rare occurrence, the growth in manufacturing jobs exceeded the pace of sector growth in 2022-23 (FY23). The number of persons engaged in the segment grew by 7.43 per cent in FY23, according to figures from the Annual Survey of Industries (ASI) released on September 30. The gross value added for the manufacturing sector grew by 4.24 per cent in current prices and declined by 2.2 per cent in real terms for FY23, according to earlier annual figures released by the government.
No great achievement or discovery or invention has been achieved without hard work. While the inspiration may have been an insight, it needs work to flesh the insight which requires hard work, asserts Mudit Jain.
There are reports that the government will soon cut income taxes by about Rs 50,000 crore to boost consumption.
Prime Minister Modi, I suggest that, instead, you distribute about one lakh crore rupees per year to the 80 crore poor, which will boost both consumption and economic growth, suggests Kalyan Singhal, McCurdy Professor of Business at the University of Baltimore.
GST collections in July rose 10.3 per cent to over Rs 1.82 lakh crore, mainly driven by domestic transactions in goods and services, according to official data released on Thursday. This is the third-highest-ever monthly collection recorded since the indirect tax regime was rolled out 7 years ago on July 1, 2017. According to the data, total refunds stood at Rs 16,283 crore in July.
'We can hope to see a lot of creation of jobs in the days to come.'
The two countries also signed a 'Memorandum of Agreement regarding the Assignment of Liaison Officers', which will facilitate the posting of one military officer from each country with the military of the other.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances