Most of the public sector banks have already informed their...
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DoT allocates 30 GHz radio frequency for v-to-v communication systems:Gadkari
Union Minister Nitin Gadkari also informed that AI-based road...
Govt approves wage and pension revision for PSU general insurance industry
The wage revision for the employees of PSGICs will be effective...
GST rejig: Sitharaman to address Aug 20 GoM meet to put forth Centre’s rate cut proposal
Nirmala Sitharaman , Union Finance Minister The GoM on Life and Health Insurance is likely to be headed by Bihar Deputy Chief Minister, Samrat Choudhary and will explore full GST exemption on health and life insurance premiums for policies up to Rs 5 lakh,...
As many as 409 companies operating from IFSC GIFT City
Nirmala Sitharaman, Union Finance Minister Over the last 5 years, the government has provided several progressive policy measures for development of GIFT IFSC, such as - setting up of International Financial Services Centres Authority (IFSCA) as a unified statutory...
Bill to decriminalise certain minor offences to be introduced in Lok Sabha on Monday
Over 350 provisions are proposed to be amended through this bill for decriminalising and rationalising offences to further enhance trust-based governance for ease of living and doing business New Delhi: The Jan Vishwas (Amendment) Bill 2025 to decriminalise certain...
Proposed GST rate tweaks on automobiles to end classification disputes
Presently, the total tax incidence on cars, depending on engine capacity and length, ranges from 29 per cent for small petrol cars to 50 per cent for SUVs. Sources said, as per the Centre’s proposal for moving the GST system to a two-tier rate structure of 5 and 18...
‘Next Gen GST’ precursor to eventual single tax slab GST: Sources
“What we have suggested is a ‘Next Gen GST’ keeping the needs of the middle class, poor, farmers, and MSMEs in mind. Also, it has been ensured that tax on daily use items are low,” the official told PTI New Delhi: Describing the proposed GST tax reforms as ‘Next Gen...
GST revamp to see rates of 5%, 18%; 40% tax on 7 items
While essential food items, medicines and education will continue to be taxed at zero rate in the proposed revamped GST regime, 99 per cent of items in the current 12 per cent slab will move to the 5 per cent bracket. Services will continue to be charged at 18 per...
FinMin proposes 2-slab GST rate structure, special rates on select goods
Nirmala Sitharaman, Union Finance minister With regard to reduction in slabs, the Centre has proposed moving towards simple tax with two slabs -- standard and merit. Special rates would apply only on select few items. Currently, GST is a 4-tier structure of 5, 12, 18...
Govt to constitute task force for next-generation reforms: PM
"We have decided to constitute a task force for next-generation reforms. This force will work within a set time-frame to align existing laws with the needs of the 21st century and prepare the nation to become 'Viksit Bharat' by 2047," Prime Minister Narendra Modi said...
GST rates to ‘substantially’ reduce by Diwali: Modi
Prime Minister Narendra Modi addressing the nation on 79th Independence Day in New Delhi on Friday Analysts say, Modi's statements on GST indicate that the much awaited GST reduction proposals in Health Insurance and Term life insurance policies, which is on anvil for...
After 18 yrs S&P upgrades India’s sovereign rating on economic resilience, infra spending, inflation control
"India is prioritising fiscal consolidation, demonstrating the government's political commitment to deliver sustainable public finances, while maintaining its strong infrastructure drive," S&P said in a statement New Delhi: In a landmark development, after 18...