Customs regimes can lead to labyrinthine legal disputes. Budget 2026 must recognise that an excessively defensive Customs posture can itself become a trade barrier, point out Mukesh Butani and Shankey Agrawal.
India has managed high government debt-to-GDP, a slowing domestic revenue engine, lower household savings and a more hostile geopolitical environment separately in the past. But together, they threaten to undo the growth narrative on which today's optimism rests, warns Debashis Basu.
As many as 17 cancer drugs, along with medicines and food for special medical needs for seven rare diseases, components for microwave ovens are some of the items that are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duty in the Union Budget 2026-27.
The GST Council at its next meeting may consider a reduction in taxes on air and water purifiers as air quality across the country worsens and access to safe drinking water remains uneven.
Under the new rules, users must take a "live selfie" using software that verifies their presence, typically through eye-blinking or head movement. The measure helps prevent the use of static photos or deepfakes.
UltraTech Cement on Saturday said it has received a GST demand notice for a total payment of Rs 782.2 crore, which it plans to contest before the appropriate forum.
'There is a challenge in repositioning yourself, maybe reinventing yourself.'
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.
Total pending Customs arrears, including amounts under litigation, court stays and cases where the appeal period has not expired, stood at about Rs 1.36 trillion at the end of December 2024.
Rural India outpaced urban centres in passenger vehicle sales in 2025, recording a growth of 12 per cent compared with 8 per cent in cities.
Silver prices rallied sharply by Rs 15,000 to hit a lifetime high of Rs 265,000 per kg in the national capital on Monday, and gold advanced to a fresh record of Rs 144,600 per 10 grams, mirroring strong gains in the global markets.
In the 15 Union Budget presentation days of the Narendra Modi government since it came to power in 2014, the BSE benchmark Sensex has ended in negative territory eight times.
Kerala Chief Minister Pinarayi Vijayan accused Governor Rajendra Vishwanath Arlekar of omitting portions of the state cabinet-approved policy address, specifically criticizing the Union Government's fiscal policies and the pending status of state bills.
'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.'
Two-wheeler (2W) major Bajaj Auto on Friday posted its highest ever quarterly revenue and profit during the third quarter of 2025-26 (Q3FY26). Bajaj Auto's consolidated net profit for the quarter grew by 25 per cent year-on-year (Y-o-Y) to Rs 2,749 crore, with the revenue also growing 23 per cent to Rs 16,204 crore.
'People become guided by emotions, fear of missing out, and greed. They tend to invest in booming sectors that may prove exceptionally expensive.' 'Typically, that represents the peak, and subsequently, they lose substantially.'
Overlap refers to the same stocks appearing across fund portfolios.
Assam Congress alleges CM Himanta Biswa Sarma's family grabbed thousands of acres of land, prompting a defamation case announcement. BJP denies claims as baseless.
Trump called for immediate negotiations for the US to acquire Greenland from Denmark, describing the country as ungrateful, during his speech at Davos.
ICICI Bank on Thursday said tax authorities have slapped a demand notice of Rs 238 crore on it for alleged short payment of GST.
Real GDP growth surprised on the upside in 2025, but weaker nominal growth, trade uncertainty, and soft demand signal a bumpier road ahead.
A GST Deputy Commissioner, Prashant Kumar Singh, resigned in protest against Shankaracharya Avimukteshwaranand's remarks against Uttar Pradesh Chief Minister Yogi Adityanath, citing attempts to divide the nation on caste and religious lines.
'If companies want to hire foreign workers instead of Americans, my bill will hit them where it hurts: Their pocketbooks.'
Tamil Nadu Industries Minister TRB Rajaa claims Uttar Pradesh's development is funded by Tamil Nadu's tax contributions to the central government, sparking a political debate over regional economic disparities.
The country's primary capital markets delivered a robust performance in FY26, emerging as a global leader in initial public offerings (IPOs) despite an uncertain environment, the Economic Survey said on Thursday.
Net direct tax collection dipped 3.95 per cent to Rs 6.64 lakh crore so far this fiscal, mainly on account on higher refunds, according to government data released on Tuesday. Direct tax includes taxes on income paid by companies, individuals, and by professionals, and other entities.
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.
India's high cost of capital due to relatively shallow corporate bond markets, limited institutional investor depth, sovereign risk premia, and regulatory restrictions on capital flows, is a constraint on private investment and long-run growth, the Economic Survey, authored by Chief Economic Advisor (CEA) V Anantha Nageswaran, said.
Supported by strong buoyancy in public sector capital expenditure (capex), growth in infrastructure investment is expected to accelerate in 2025-26 (FY26) compared to 2024-25 (FY25), according to the First Advance Estimates of gross domestic product (GDP) for FY26 released by the National Statistics Office (NSO) on Wednesday.
rediffGURU T S Khurana answers readers' personal income tax queries
This is the second-worst performance by the pack during this period over the last five years since CY20.
'The government, if it deems fit, will incorporate the changes in the Bill, take approval from the Cabinet before moving the bill for consideration and passage in the Lok Sabha.'
Novak Djokovic and Carlos Alcaraz clash in the Australian Open final with history on the line as Djokovic chases a record 25th Slam and Alcaraz eyes a career Grand Slam.
Manas Sood, a Class 12 student from the Delhi Public School, has distributed 2,650 boxes of Tax City Education and empowered over 12,000 students from 52 schools across India. His aim? To help young Indians understand taxes and become financially literate.
The tribunal granted partial relief to the appellants by modifying Sebi's directions on trading restrictions and account freezes, making them conditional on the deposit of the said amount.
FPIs net sold equities worth Rs 1.7 trillion in 2025 -- the highest annual net sale on record.
Business confidence in India Inc rose to a five-quarter high in December quarter of FY26, amid further reform expectations and steady domestic demand, a survey by industry body Confederation of Indian Industry (CII) showed. The CII Business Confidence Index (BCI) rose for the third consecutive quarter to 66.5 in the December quarter from 66 in the preceding September quarter.
'We want to clear these pending refunds so that no issues arise once the new I-T Act takes effect.'
This exercise allows investors to realign their portfolios with changing market conditions and evolving personal objectives.
The Delhi High Court has asked the central government why it cannot reduce the GST on air purifiers, considering the poor air quality in Delhi. The court's concern is that the current 18% GST makes air purifiers unaffordable for the common man.
