New Delhi: India’s fast-moving consumer goods sector navigated a challenging second quarter as the implementation of new goods and services tax rates on 22 September disrupted trade channels and led to temporary moderation in sales across key categories such as personal care, oral care, foods and beverages.
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The Bajaj Auto Ltd stock is down 12% from a year ago at a time the Nifty Auto rose 12%.
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India’s retail inflation likely hit a record low of 0.3% in October, driven by continued food deflation, the statistical effect of a favourable base, and the impact of goods and services tax (GST) cuts, according to a Mint poll of 16 economists.
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New Delhi: There’s an interesting twist in this story, though perhaps not entirely unexpected. As buyers thronged showrooms in October in the thousands to snap up petrol and diesel cars after steep GST (goods and services tax) cuts, electric vehicles—which didn’t get a tax break—ended up as an inadvertent casualty.
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Source: https://www.livemint.com/companies/lic-gst-impact-insurance-policies-premiums-11762505355077.html
While some private insurers are reconsidering commission payouts to offset the loss of input tax credit, LIC said it will pass the full benefit to customers through premiums and will not shift any GST burden onto intermediaries.
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Mumbai: After the insurance industry lost input tax credit benefits from the recent goods and services tax (GST) exemption, the sector's intermediaries are drumming up support for a ‘zero-rate’ tax structure that could ease insurers' costs, stem their own commission cuts as also any looming premium hikes. Yet, the industry is divided on the prospects as the proposal may struggle to take off, given the sweeping policy changes it would entail.
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About the Webinar
As the due date for filing GSTR-9 and GSTR-9C approaches, professionals are gearing up for one of the most challenging GST compliances of the year.
Delhivery seeks to boost profit margins after acquiring Ecom Express, reducing the need for heavy discounts. The company reported a 16.3% revenue increase, while logging a net loss of ₹51 crore. Its express parcel volumes rose 32% year-on-year in the September quarter.
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HSBC India Services PMI eased to 58.9 in October, but manufacturing regained momentum on GST relief and stronger productivity.
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If you’re shopping for a new car, the decision just got trickier. Electric or petrol?
A recent cut in Goods and Services Tax (GST) on certain internal combustion engine (ICE) vehicles and strategic price cuts by carmakers has made some petrol and diesel SUVs ₹2 lakh cheaper or more. That’s good news for car buyers, but it also complicates one of today’s biggest financial decisions: does an electric vehicle (EV) still make economic sense? The debate gains importance as air quality deteriorates sharply in the capital city and nearby, partly due to vehicle emissions.