The Centre has proposed exempting life and health insurance policies for individuals from GST, Bihar Deputy Chief Minister and convenor of insurance GoM Samrat Choudhary said on Wednesday. Currently, health and life insurance premium attracts 18 per cent GST.
'If the near-term economic pain is absorbed more by those who have the ability and the financial strength to do so, then small and medium enterprises in downstream industries will emerge stronger from the trade imbroglio.'
When the market is down, you can buy more units, which offers you the rupee cost averaging. But the question here is, with so many options available in the market, which one should you choose? Keep reading to get the answer.
Prime Minister Narendra Modi spoke with Russian President Vladimir Putin, discussing the Ukraine conflict and reaffirming the commitment to deepen the India-Russia strategic partnership. The conversation occurred amid US pressure on India over Russian oil purchases.
Uttar Pradesh's leading export hubs are reeling under the impact of a steep 50 per cent tariff imposed by the US on Indian imports, with exporters warning of job losses, stalled orders and shrinking market access. Industry leaders from Noida, Kanpur and Varanasi said the tariff has put years of painstaking market-building at risk, even as protests and demonstrations erupted in several districts last week.
'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.'
Businesses are testing new markets, tapping into domestic demand, and pushing the government for relief.
Former White House official John Bolton suggests that tariffs imposed on India by the US for purchasing Russian oil may have unintended consequences, potentially driving New Delhi closer to Beijing and Moscow.
'It is a process that takes a certain amount of time and needs to be done keeping legal modalities in mind.'
He added that India sells to the US, its biggest "client", "massive" amounts of goods, "but we sell them very little - Until now a totally one sided relationship, and it has been for many decades."
Describing the India-United States relationship as 'very complicated', US Treasury Secretary Scott Bessent on Wednesday hoped that 'at the end of the day, we will come together.'
United States President Donald Trump has said there will be no trade negotiations with India until a dispute over tariffs is resolved, following his administration's decision to double tariffs on Indian imports.
The Bloomberg report suggests that this backchannel communication from President Xi has laid the groundwork for a broader thaw in relations. This overture has since translated into a series of tangible diplomatic actions leading up to the upcoming Shanghai Cooperation Organisation (SCO) summit.
The number of companies with promoters whose demat accounts were frozen by the stock exchanges due to non-compliance increased over the past year. The BSE froze promoter demat accounts in 457 companies, according to data from the Securities and Exchange Board of India's (Sebi's) 2024-25 annual report released on August 12.
The additional 25 per cent duty will come into effect after 21 days or August 27.
Mexico will face the United States in the CONCACAF Gold Cup final after a second-half strike by Raul Jimenez earned the defending champions a 1-0 win over Honduras at Levi's Stadium in Santa Clara, California, on Wednesday.
Stephen Graham won two awards at the Emmys, including Best Actor for his role in Netflix's hit drama Adolescence as well as Best Writing alongside co-creator Jack Thorne.
President Trump claims American tariffs imposed on India for purchasing Russian oil have negatively impacted Russia's economy, referring to India as Russia's major oil buyer. He also mentioned plans to meet with Putin and Zelenskyy, and claimed to have solved several wars, including the conflict between India and Pakistan.
GST 2.0 may cushion consumers against US tariffs, but like the 2019 corporate tax cut, it risks being another tactical fix rather than a structural growth strategy, expects Debashis Basu.
'The EC should not have let the initiative go into the hands of the political leadership. By allowing this to happen, they have opened a Pandora's box.'
The appliance makers expect a good churn in the festive season, led by the government's proposal to reduce the GST slab on air-conditioners from the current 28 per cent to 18 per cent, which will reduce the price from Rs 1,500 to Rs 2,500 depending on the models.
FIFA boss Infantino also presented President Trump with the very first ticket to the tournament's grand finale.
Images from the English Premier League matches on Saturday, August 30.
Communication channels between India and the US are open to resolve the ongoing tariff issues, and the glitch in trade ties is only temporary, given the long-term relationship between the two nations, government sources said on Wednesday. The US' 50 per cent tariffs on Indian exports to America came into effect from August 27, barring a few sectors.
Simplifying GST rates, removing exemptions, easing disputes, and speeding up refunds can boost investment in India and offer the best reply to Trump's tariffs, observes V S Krishnan, former member, Central Board of Indirect Taxes and Customs.
The relations between New Delhi and Washington are on a downturn after Trump doubled tariffs on Indian goods to a whopping 50 per cent, including 25 per cent additional duties for India's purchase of Russian crude oil.
United States President Donald Trump has said India is 'very close' to China in terms of its purchases of Russian oil and will pay tariffs of 50 per cent as he indicated that 'you are going to see so much secondary sanctions'.
Tata Steel, Maruti, Tata Motors, Infosys, Bharti Airtel and Tech Mahindra were also among the laggards. However, Trent, Asian Paints, Hindustan Unilever, ITC, Kotak Mahindra Bank, and Reliance Industries were the gainers.
'We will be able to anticipate the full picture of the impact after August, which is also the time when demand for a year begins to peak ahead of the December holidays and Valentine's Day.'
Bihar Chief Minister Nitish Kumar announced free power up to 125 units for all domestic consumers in the state, effective from August 1. The move, benefiting 1.67 crore households, comes ahead of the upcoming assembly polls and amid promises from opposition leaders.
'India has intentionally taken advantage of the war in Ukraine to dramatically increase its purchases of Russian crude, when there are roughly 40 major crude providers that could satisfy Indian demand.'
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
Brave statements such as we will continue to be the fastest growing large country are of no consolation, because the direction of trade also determines the flow of investment, points out M Govinda Rao.
India would neither succumb to the Americans on issues of national security, such as its defence ties with Russia, nor cede ground on its domestic interests in the agriculture and dairy sectors.
The proposed 'Next Gen GST' with sweeping reforms, lower tax rates, and just two slabs, aims to boost the economy amid tariff threats and set the stage for a single tax rate regime by the time India becomes a developed nation, government sources said.
Son Heung-min said he is "here to win" after he joined Los Angeles FC for a record Major League Soccer transfer fee, ending a decade-long stint at Tottenham Hotspur.
The United States action of levying 25 per cent additional tariff on Indian goods is 'unfair, unjustified and unreasonable', India said on Wednesday in a firm reaction, signalling increasing tensions between the two strategic partners over New Delhi's energy ties with Moscow.
The Thomas Tuchel-coached Three Lions were handed VIP tickets for the race that has McLaren's Oscar Pilastri on pole.
'The biggest point of contention is market access for US agricultural and dairy products.'
Gandhi alleged that assembly and Lok Sabha polls were being "stolen" across the country and there was a "conspiracy" in Bihar to do the same through the Special Intensive Revision of electoral rolls.
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