Since items in the 12% category account for only about 5% of total GST, the additional boost to consumption may not be significant, points out M Govinda Rao.
Given that a sizeable part of this money is part of the coveted current accounts and savings accounts, it is surprising that banks are not in a hurry to revive these accounts, notes Tamal Bandyopdhyay.
Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.
'Money moves in a web of transactions and payment addresses keep changing for offshore companies, which requires heightened monitoring measures.'
'It was like rigorously preparing for a solid, good exam...' 'I don't know what marks I will get, but I felt the rigorous preparation of an exam.' 'You may sweat, but I feel rejuvenated.'
The biggest risk for investors isn't the market, but their own minds, biases and emotions often lead to poor financial choices.
'With new technology and stricter checks, cheating on taxes is just not worth it anymore.'
The tree, about seven years old, will be transplanted near the Prerna Sthal, which houses the statues of national icons and freedom fighters that were earlier at different places on the premises.
'Employers increasingly want candidates who can take AI pilots from proof-of-concept to production-ready systems.' 'That requires governance, monitoring, and ROI measurement -- skills that go beyond coding and into business impact.'
The Supreme Court has ruled that motor vehicle tax is not applicable if a vehicle is not used or kept for use in a 'public place'. The ruling came on an appeal challenging a judgement of the Andhra Pradesh High Court.
'Things may get much worse before they get better,' predicts Ajay Chhibber.
GST, net of refunds, now yields close to 20 trillion to both the Centre's and states' exchequer.
Organise your PAN, Form 16, Form 26AS, AIS, and all other proofs before e-filing.
'Ek baar aap GST dekh lo!' - Prime Minister Narendra Modi's gentle nudge to Finance Minister Nirmala Sitharaman in December last year sparked the beginning of a mammoth exercise to overhaul the tangled goods and services tax regime. And the final outcome is a significantly simplified system with lower tax rates and easier compliance for businesses.
Fraudsters lure individuals with false promises of recovering bonuses or maturity proceeds from lapsed policies.
The Enforcement Directorate (ED) has frozen Rs 110 crore and seized 1,200 mule credit cards following searches against the Indian operations of Parimatch, a Cyprus-based online betting platform, for alleged money laundering and cheating investors.
Although most high-frequency traders (HFTs) prefer to set up shop close to stock exchanges to enjoy better latency, a few are willing to sacrifice proximity to save a few bucks. Two HFTs have already established their offices at the GIFT City (Gujarat International Finance Tec-City) IFSC while many more are likely to follow suit.
Many buyers skip or misread critical provisions in builder-buyer agreements.
Arjun Erigaisi had to face involuntary downgrade from business class, rude staff and above all baggage loss.
Master the online ITR filing process and then learn the differences between the old and new tax regimes to pick your best option.
Air India Pune-bound flight from Delhi suffered a bird hit on Friday, forcing the airline to cancel its return journey.
Consequently, the return flight AI142 from Paris to Delhi of June 18 also stands cancelled, it said.
One of the most exploited provisions is Section 10(13A), which permits exemption on HRA.
Air India's flight to London from Ahmedabad, which has started operating with a new code post the June 12 crash of AI-171, was cancelled on Tuesday due to "operational issues", an airport official said.
Images from Day 5 of the fifth Test between England and India at The Oval, London, on Monday.
Air India will begin operating flights between Ahmedabad and London Heathrow from August 1, replacing the Gatwick route. The airline is also partially resuming domestic and international services suspended after a fatal plane crash. Some routes will remain suspended until September 30, while others will see increased frequency.
VF 7 and VF 6, as the models are called, will go on sale in August after the inauguration of VinFast's plant in Thoothukudi in Tamil Nadu, and deliveries will follow later.
A consumer redressal commission in Mumbai has said if meat-based food hurts a "strictly vegetarian" person's religious sentiments, why should the individual opt to order from a restaurant serving both veg and non-veg items.
Net direct tax collection so far this fiscal stood at Rs 4.59 lakh crore, 1.39 per cent lower compared to the mop-up during the corresponding period of last fiscal, as advance tax collections slowed, government data showed. Advance tax collection during April 1-June 19, 2025 grew a meagre 3.87 per cent to Rs 1.56 lakh crore.
Air India on Wednesday said it has cancelled its Lucknow-Mumbai flight scheduled for June 17 due to 'operational reasons' and the ripple effect of flight diversions.
Gross GST collections increased by 6.2 per cent to over Rs 1.84 lakh crore in June but slipped below the Rs 2 lakh crore mark recorded in the previous two months. Gross GST collections stood at Rs 173,813 crore a year ago, as per government data released on Tuesday.
Gross GST collections remained above the Rs 2 trillion mark for the second month in a row, rising 16.4 per cent in May to over Rs 2.01 lakh crore. Goods and Services Tax (GST) collection had touched a record high of Rs 2.37 lakh crore in April. In May, 2024, the mop up was Rs 1,72,739 crore.
Ruling that Flipkart cannot "escape liability" as "mere intermediary" in an online purchase, a consumer commission here has found the e-commerce platform and television manufacturing company Thomson guilty of deficiency in service after a defective TV was delivered to a customer.
The flight was delayed post midnight because of a "technical glitch" and passengers remained seated inside all the while, an aggrieved traveller said in a video that has gone viral on social media.
Goods and Services Tax (GST) collection rose 12.6 per cent Y-o-Y to an all-time high of about Rs 2.37 lakh crore in April, which the government said shows resilience of the Indian economy and the effectiveness of cooperative federalism. The gross GST mop-up was Rs 2.10 lakh crore in April 2024 -- the second highest collection ever since GST was rolled out on July 1, 2017. The net mop-up was Rs 1.92 lakh crore.
Two of these flights were cancelled after the passengers had already boarded the aircraft, the airline said.
While Air India cancelled six international flights due to aviation regulator DGCA subjecting its Dreamliner fleet to enhanced checks, the Ahmedabad-London Gatwick one was cancelled due to unavailability of aircraft, the airline said.
The National Stock Exchange (NSE) has offered to pay Rs 1,388 crore to the Securities and Exchange Board of India (Sebi) to settle the colocation and dark fibre cases, potentially clearing the way for its much-awaited initial public offering (IPO). This is the biggest-ever settlement plea made with the markets regulator.
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
Destinations like Coorg, Munnar, the Western Ghats, and parts of the North East, are at their scenic best in the monsoon.
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