29 Jun 2024 05:57 PM
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Budget 2024: Real-estate sector hopes for high rebates, GST rate reductions, and other reforms | Check wishlist here

Source: https://www.livemint.com/budget/expectations/budget-2024-real-estate-sector-hopes-for-high-rebates-gst-rate-reductions-and-other-reforms-check-wishlist-here-11719454927942.html

As Union Finance Minister Nirmala Sitharaman is all set to table the Budget 2024-25 in the third week of July, India's real estate sector hopes for a series of reforms and incentives that can drive growth and address longstanding challenges. Expectations range from increased rebates on home loan interest rates, GST rate reductions, single-window clearance systems, reduced property prices, and promoting off-centre locations.

28 Jun 2024 06:08 PM
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GST Council to decide on waiving disputed tax liabilities under new provision

Source: https://www.livemint.com/industry/gst-council-indirect-tax-waiver-provision-vat-cgst-online-gaming-liquor-companies-airlines-shipping-11719478616257.html

New Delhi: The goods and services tax (GST) council will take decisions on waiving disputed tax liabilities of certain industries based on a new provision that the federal indirect tax body inserted in tax laws at its meeting last Saturday, according to two persons with knowledge of the matter.

27 Jun 2024 06:43 PM
New

How Budget can unlock potentials in non-life insurance

Source: https://www.livemint.com/money/personal-finance/budget-2024-potentials-in-health-insurance-non-life-insurance-gst-csr-swiss-re-property-insurance-11719454813903.html

The Indian insurance industry's growth trajectory aligns with India's aspirations, with Swiss Re, a reinsurance company, projecting it as the fastest-growing among G20 countries between 2024 and 2028. However, there is still much ground to cover.

27 Jun 2024 06:48 PM

Budget 2024: Affordable loans, investment in research & digital infra—education sector's wish list for FM Sitharaman

Source: https://www.livemint.com/budget/budget-2024-affordable-loans-investment-in-research-digital-infra-education-sectors-wish-list-for-fm-sitharaman-11719477590756.html

The Union Finance Ministry is gearing up to present the full Union Budget for the fiscal year 2024-25 in July. Several stakeholders from the education sector voiced their expectations from Finance Minister Nirmala Sitharaman.

27 Jun 2024 06:40 PM

Seven years on, GST still sparks Centre-state friction

Source: https://www.livemint.com/economy/seven-years-on-new-gst-rates-in-india-spark-centre-state-friction-on-central-gst-state-gst-income-tax-implications-11719401430215.html

New Delhi: July will mark the seven-year anniversary of the introduction of the goods and services tax (GST), one of the biggest economic reforms in India since 1991. GST brought the taxation of goods and services under a single umbrella, replacing a range of state and central taxes, many of which had been in place for decades. The aim was to create a single common market, where sellers and buyers didn’t have to worry about paying a state tax here and a municipal tax there.

26 Jun 2024 06:11 PM

Businesses in Tamil Nadu, Uttar Pradesh, Maharashtra lead in GST return filing

Source: https://www.livemint.com/economy/businesses-in-tamil-nadu-uttar-pradesh-maharashtra-lead-in-gst-return-filing-11719313709381.html

While UP and Tamil Nadu file more returns than Maharashtra on a monthly basis, in the last month of every quarter, when smaller businesses with annual sales of up to ₹1.5 crore also file returns, Maharashtra has an edge

26 Jun 2024 06:18 PM

Budget 2024: Expectations for tax sops under old regime run high

Source: https://www.livemint.com/money/personal-finance/budget-2024-tax-sops-under-old-regime-standard-deduction-deduction-limits-section-80c-homebuyers-11719383739811.html

The finance ministry introduced a new tax regime in the financial year 2020-21 with lower tax rates in exchange for most major tax deductions and exemptions available under the old regime.

26 Jun 2024 06:14 PM

Positive on GDP growth, working to bring inflation under control: RBI Governor Shaktikanta Das

Source: https://www.livemint.com/economy/confident-of-7-2-gdp-growth-in-fy25-working-to-bring-inflation-under-control-rbi-governor-shaktikanta-das-11719327544379.html

India is at the threshold of a major structural shift in its growth trajectory moving towards 8% GDP growth in a sustained manner. We are moving towards an annual growth rate of 8%, said RBI Governor Shaktikanta Das.

25 Jun 2024 05:42 PM

GST Council Newsletter May 2024

Source: https://taxguru.in/goods-and-service-tax/gst-council-newsletter-2024.html

In the GST Council Newsletter for May 2024, it was reported that the gross GST revenue collected for the month reached ₹1.73 lakh crore, marking a 10% increase compared to the same period last year. This growth was driven by a notable rise in domestic transactions, although imports saw a slight decline. After refunds, the net GST revenue stood at ₹1.44 lakh crore, reflecting a 6.9% growth year-on-year. Additionally, the newsletter highlighted the appointment of Justice (Retd.) Sanjaya Kumar Mishra as the first President of the GST Appellate Tribunal (GSTAT), marking a significant milestone in the resolution of GST-related disputes.

25 Jun 2024 05:37 PM

Hybrids have made a comeback in 2024. Will they spoil the EV party in India?

Source: https://www.livemint.com/auto-news/hybrids-vs-evs-toyota-hyryder-gst-tax-cuts-tata-nexon-11719223245300.html

New Delhi: In January, Utkarsh Nigam, a resident of Bengaluru, was convinced his next car would be electric. The 38-year-old had test-driven all the electric vehicles (EVs) in the market, zeroed in on one, and discussed financing options with the dealer. Then, in March, as he was returning from Kodagu (Coorg) after a long weekend, he met a middle-aged couple stranded 80 kilometres from Bengaluru. Their electric car had run out of juice. Fortunately, the battery had died near an eatery that had a charging point, but they would have to wait an hour while it recharged.