New Delhi, Sep 8 (PTI) The Central Board of Indirect Taxes and Customs (CBIC) will be engaging with the insurance industry to work out a transition mechanism for the accumulated input tax credit (ITC) of those policies which have been exempted from tax with effect from September 22, Finance Minister Nirmala Sitharaman has said.
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Audi India has slashed prices across its lineup after GST 2.0 reduced the overall tax on passenger vehicles. Customers benefit between ₹2.60–7.80 lakh, with models like Q3, A4, Q5, A6, Q7, and Q8 seeing major cuts.
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Investing in bonds is essential for portfolio diversification and stability, especially during equity market volatility. Recent economic changes and interest rate trends in India present a favorable opportunity for bond investments, with yields now more attractive than traditional fixed deposits.
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Morgan Stanley expects select steel stocks to outperform the broader India Materials sector over the next few months. The brokerage upgraded its ratings on JSW Steel, Tata Steel, and SAIL, while maintaining an Equalweight stance on Jindal Steel & Power.
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Indian stock markets edged up on Wednesday, led by the auto and consumer sectors ahead of a GST Council meeting. Nifty 50 increased by 0.15% and Sensex by 0.17%, but analysts warn of potential market weakness due to continued selling and external economic challenges.
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The Indian government has announced a reduction in the indirect tax burden on consumers—to be achieved by rationalizing goods and services tax (GST) rates.
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Indian stock market saw gains on Tuesday, driven by Reliance Industries ahead of a key GST Council meeting. The Nifty 50 rose 0.45% to 24,734. Positive sentiment stems from strong GDP figures and potential GST cuts for various products, possibly boosting consumer spending.
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The NBDA has urged Finance Minister Nirmala Sitharaman to address GST concerns affecting the news broadcasting industry, advocating for a shift in taxation timing and the allowance of input tax credit on certain business expenses to improve financial health and operational efficiency.
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JK Tyre & Industries share price leading among the gainers jumped nearly 6 per cent on September 2. Meanwhile, MRF and CEAT shares were trading 5 per cent up.
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IDFC FIRST Bank is among private sector banks authorised for GST collections, reaffirming its commitment to offering universal banking solutions and comprehensive financial services to the wider ecosystem.
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