New Delhi: Televisions and air conditioners are the next in line in electronics and appliances industries to receive a Centre-backed boost—driven by new incentives, revisions to customs duties and public procurement programmes. The most critical part of the new set of moves involves abolition of basic customs duties on open cells for television panels—which can reduce the overall pricing of large-screen TVs by a significant margin.
Read MoreIndia's carbonated soft drink (CSD) sector is struggling to expand due to high taxation under the Goods and Services Tax (GST) regime, revealed a report released by economic think tank ICRIER.
Read MoreGST applicants from Kerala, Nagaland, and Telangana must follow new Aadhaar-based biometric authentication and document verification procedures, effective from October 5, 2024. As per the amendment to Rule 8 of the CGST Rules, 2017, applicants may undergo biometric-based Aadhaar authentication, alongside verification of the original documents uploaded during registration. This process involves receiving an email with either a link for OTP-based authentication or for booking an appointment at a GST Suvidha Kendra (GSK). Applicants opting for the biometric process must visit the designated GSK with essential documents, including original Aadhaar and PAN cards, along with the confirmation emails. After successful authentication, the Application Reference Number (ARN) will be generated. The GSKs operate according to the state guidelines, and it is crucial to schedule biometric verification within the specified period as outlined in the registration process.
Read MoreSpiceJet is signalling its intent to regain a stronger position in the competitive aviation market with plans to introduce new aircraft, expand its routes, and restore its network.
Read MoreRau of Future Generali India Insurance, highlighted India’s potential to become a $30 trillion economy, but flagged challenges in labour reforms, geopolitics, and governance.
He pointed to growth in the insurance sector, led by tech and consumer demand, but called for clarity on GST in healthcare
Experts said the September revenue collection figure, representing August sales, was a tad below expectations.
Read MoreThe anti-profiteering regime was intended as a transitional arrangement when indirect tax reforms were introduced in July 2017.
Read MoreA tiered approach of a lower tax on drinks with less sugar will encourage more such options and boost local production and investment, says industry body.
Read MoreWhile the Government has shown willingness to address the sector concerns, MSMEs are looking forward for additional focus on introducing transformative and progressive reforms for its growth and the economy at large.
Read MoreTop Events of the Day: The second phase of Jammu and Kashmir elections is underway. The Group of Ministers on GST meets in Goa to discuss potential tax slab changes and rate revisions, aiming to refine India's four-tier GST structure.
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