The Indian government has imposed a new windfall gains tax of Rs 3 per litre on petrol exports, while simultaneously reducing the levy on diesel to Rs 16.5 per litre and aviation turbine fuel (ATF) to Rs 16 per litre, effective May 16.
The authority has termed it an unfair trade practice under the Consumer Protection Act, 2019, pointing out that only applicable taxes can be added to the price mentioned in the menu.
Air India and Air India Express are introducing a fuel surcharge on domestic and international flights due to rising jet fuel prices, impacting travel costs for passengers.
Prime Minister Narendra Modi has strongly refuted a media report suggesting the government is considering levying a tax, cess, or surcharge on foreign travel, calling the news "totally false".
The diplomatic intervention follows various media reports which attributed comments to Iranian lawmaker Alaeddin Boroujerdi, suggesting that merchant vessels were being charged USD 2 million for safe passage through the "conflict-hit Hormuz."
Chennai Super Kings captain Ruturaj Gaikwad has been fined after his team maintained a slow over-rate during their IPL match against Gujarat Titans, resulting in a penalty of INR 24 lakhs.
Two members of the People's Liberation Front of India (PLFI), an outlawed Maoist splinter group, were arrested in Jharkhand's Khunti district, police said on Sunday.
Delhi Police busted a counterfeit garment manufacturing racket in Naraina Industrial Area, seizing over 3,400 fake branded jeans, forged labels, and stitching machines.
Yuvraj Sandhu made the cut at the Soudal Open, while Shubhankar Sharma missed out. South Africa's Zander Lombard and France's Tom Vaillant share the lead.
The Economic Offences Wing (EOW) has attached properties worth Rs 4 crore belonging to suspended IAS officer Sameer Vishnoi, an accused in a coal levy scam, for allegedly amassing assets beyond his known sources of income.
Authorities in Chhattisgarh have attached properties worth Rs 4 crore belonging to suspended IAS officer Sameer Vishnoi, an accused in the coal levy scam, for allegedly amassing assets beyond his known sources of income.
The NTA has also confirmed that the upcoming re-examination, scheduled for June 21, 2026, will be conducted entirely free of cost for all previously registered candidates, funded fully through the agency's internal reserves.
Bharti Airtel reported a 33.5 per cent decline in consolidated net profit to Rs 7,325 crore for the March 2026 quarter, primarily attributed to one-time provisions for statutory and tax liabilities.
US President Donald Trump announced a new global levy on imported items, resulting in a lower tariff rate for India, following a Supreme Court verdict against his previous sweeping tariffs.
Commerce and Industry Minister Piyush Goyal announced that a US team is expected to visit India next month for trade talks, following an earlier Indian delegation's visit to Washington, DC, in April to finalise an interim pact and advance negotiations for a broader bilateral trade agreement.
Yuvraj Sandhu carded a 4-under 68 to lead the Indian golfers at the Estrella Damn Catalunya Championship, four shots behind the leader Shaun Norris.
Based on the official NTA statement and government directives issued on Tuesday, May 12, 2026, here is a guide for students and parents about what they can do now.
Despite a sharp increase in import duties on gold and silver to 15 per cent, the precious metals are trading at significant discounts in the domestic market, with gold seeing discounts of up to $200 an ounce and silver up to $6 an ounce.
These new tariffs were imposed by Trump on all countries, including India, on February 24 for 150 days following a Supreme Court verdict that struck down his earlier sweeping levies.
'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
With duties at 15%, GST at 3%, and making charges running as high as 20% -- the gap between a smart purchase and a careless one can easily be Rs 30,000 to Rs 50,000 on every Rs 1 lakh invested. And most of that gap is entirely avoidable. Ramalingam Kalirajan explains the math.
The Indian government has marginally exceeded its indirect tax collection target for fiscal year 2025-26, with strong performances in customs, excise, and GST revenues.
The Indian government has revised the application fee for the Overseas Citizen of India (OCI) card and introduced changes to the application process, including abolishing the six-month continuous stay requirement.
Air India, IndiGo and SpiceJet have told the government that the country's airline industry is under extreme stress and on the verge of "stopping operations", as they sought revision in ATF pricing and financial support.
The Reserve Bank of India has updated its e-mandate framework, allowing card issuers to map existing mandates to reissued cards and clarifying rules around transaction limits and customer grievance redressal.
Police in Lucknow busted a gang that misused the Mudra loan scheme to create fake GST firms and commit input tax credit fraud worth approximately Rs 1.3 crore.
India should not stay on the margins of this initiative. There should be a serious debate about what would be in India's best interests asserts former foreign secretary Shyam Saran.
Finance Minister Nirmala Sitharaman on Monday introduced two bills in the Lok Sabha to levy excise duty on tobacco and tobacco products, and a new cess on manufacturing of pan masala, which will replace the GST compensation cess on such sin goods.
Trump criticised Iran for attempting to use international waterways for leverage, stating that the United States had restrained itself only to allow space for negotiations.
The Indian government has increased the export duty, or windfall tax, on diesel to Rs 55.5 per litre and on aviation fuel (ATF) to Rs 42 a litre, effective immediately, to boost domestic availability and prevent exporters from exploiting global price differences.
An Iranian missile strike on Haifa has resulted in casualties and intensified conflict between Iran and Israel, prompting search operations and ceasefire discussions.
The report said ships must submit full documentation, obtain clearance codes and accept IRGC-escorted passage through a designated corridor.
The Indian government has increased measures to secure fuel and gas supplies following the Strait of Hormuz closure, urging citizens to avoid panic buying. Refineries are operating at high capacity, and sufficient stocks of petrol and diesel are available nationwide.
State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) are reportedly incurring losses of Rs 18 per litre on petrol and Rs 35 per litre on diesel, as they continue to absorb rising crude oil costs without increasing retail prices. This situation is leading to expectations of a fuel price hike after upcoming state elections.
Indian airlines are now required to offer 60% of seats for free and ensure families sit together, as the government strengthens passenger rights and addresses concerns about high seat selection fees.
The Indian government has doubled the daily quota of market-priced 5-kg LPG cylinders for migrant workers to ensure stable fuel supplies amidst global disruptions. This move prioritises household cooking gas and addresses the needs of migrant workers who often lack regular connections.
An analysis of Nitish Kumar's tenure as Chief Minister of Bihar, highlighting his contributions to development and social justice alongside controversies and political shifts.
One of the most uncivilised characteristics of this war has been the total disregard for international law and the laws of armed conflict, asserts Vice Admiral Biswajit Dasgupta (retd).
Lahore Qalandars have fined captain Shaheen Shah Afridi after Punjab police accused him of breaching security protocols at the team hotel.
The government has sharply reduced excise duty on petrol to 3 and diesel to zero, offering major relief to consumers. Here's how the price cut will impact fuel rates and inflation.
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