17 Dec 2024 06:30 PM
New

French auto parts supplier Valeo bets on India EV transition even as demand cools

Source: https://www.livemint.com/companies/news/valeo-india-ev-transition-auto-parts-partnerships-tata-motors-mahindra-oems-ice-passenger-vehicles-tax-benefits-pli-sche-11734427064782.html

New Delhi: Growing adoption of electric vehicles (EVs) in India is unlocking opportunities for the Indian arm of French auto parts supplier Valeo to increase revenue per vehicle, according to a top company executive, even if sales have temporarily slowed for one of its top customers in India.

16 Dec 2024 06:06 PM
New

YouTuber hails restaurant’s ‘no service charges’ policy; netizens aren’t impressed: ‘Jitne ka pudina paratha hai…’

Source: https://www.livemint.com/news/youtuber-hails-restaurants-no-service-charges-policy-netizens-arent-impressed-jitne-ka-pudina-paratha-hai-11734321818837.html

A YouTuber praised a restaurant's ‘No Service Charges’ policy but faced backlash for a bill of ₹10,030 for basic dishes. Users criticised the high prices and questioned the GST rate, suggesting hidden charges may be included in the dish prices.

16 Dec 2024 05:59 PM
New

India’s fiscal deficit will be 4.8 pc in FY25, below budget estimate of 4.9 pc: CareEdge Ratings

Source: https://www.livemint.com/economy/indias-fiscal-deficit-will-be-4-8-pc-in-fy25-below-budget-estimate-of-4-9-pc-careedge-ratings-11734320796474.html

The fiscal deficit of the central government is projected to be 4.8 per cent of GDP for FY25, slightly below the budgeted estimate of 4.9 per cent, according to a report by Care Edge Ratings. The marginal improvement is attributed to healthy tax collections, despite certain shortfalls.

16 Dec 2024 06:08 PM

How to calculate foreign currency conversion mark-up fees on credit cards?

Source: https://www.livemint.com/money/personal-finance/how-to-calculate-foreign-currency-conversion-mark-up-fees-on-credit-cards-11734212016191.html

Credit Cards: In order to cut down on foreign currency conversion mark up fee, it is recommended to look for the cards which charge a lower mark-up fees

14 Dec 2024 06:42 PM

Latest Market News Today Live Updates December 13, 2024: Zomato slapped with ₹803 crore tax demand by GST authorities

Source: https://www.livemint.com/market/latest-markets-today-live-updates-december-13-2024-11734049836086.html

Latest Market News Today Live Updates: Catch today's market wrap-up! Track Nifty 50 and Sensex movements, along with top gainers and losers. See how Asian and US markets fared and which sectors led the charge (or declined). Summary: Follow Mint's market blog for real-time updates on your favourite companies. This blog keeps you informed on all things Dalal Street and global markets.

13 Dec 2024 05:57 PM

GST Council Meeting: Industry eyes tax relief on health insurance premiums, higher levies on luxury items

Source: https://www.livemint.com/economy/gst-council-meeting-industry-eyes-tax-relief-on-health-insurance-premiums-higher-levies-on-luxury-items-11733932778231.html

Industry experts anticipate a reduction in GST rates on health insurance in the upcoming GST Council meeting, potentially increasing coverage.

12 Dec 2024 06:44 PM

Retailers urge FM and GST Council not to go for higher 35 pc tax rate

Source: https://www.livemint.com/focus/retailers-urge-fm-and-gst-council-not-to-go-for-higher-35-pc-tax-rate-11733993359960.html

New Delhi, Dec 12 (PTI) Indian Sellers Collective, an umbrella body of trade associations and sellers across the country, has urged the finance minister and the GST Council not to accept some of GST rate rationalisation suggestions, including the proposal for inclusion of a special rate of 35 per cent on some products.

12 Dec 2024 07:02 PM

GST on Medical Devices And Diagnostics

Source: https://taxguru.in/goods-and-service-tax/gst-medical-devices-diagnostics.html

In response to questions regarding the Goods and Services Tax (GST) on medical devices and diagnostics, the Ministry of Finance clarified the current GST rates. Most medical devices are subject to a GST rate of 12%, while certain medical goods like implants and artificial body parts attract a concessional rate of 5%. The government emphasized that GST rates and exemptions are determined by the GST Council,

12 Dec 2024 06:53 PM

Fake ITC Frauds: Government Measures and GST Guidelines

Source: https://taxguru.in/goods-and-service-tax/fake-itc-frauds-government-measures-gst-guidelines.html

Government of India has intensified efforts to address fake Input Tax Credit (ITC) frauds, focusing on balancing enforcement with ease of doing business. Top revenue officials have directed State and Central GST enforcement chiefs to prioritize genuine tax evasion over interpretative issues. Two National Conferences of Enforcement Chiefs have been held, resulting in detailed guidelines for investigations that uphold business-friendly practices.

12 Dec 2024 06:59 PM

Year-wise and State-wise GST collection (2017-2024)

Source: https://taxguru.in/goods-and-service-tax/year-wise-state-wise-gst-collection-2017-2024.html

Government of India detailed GST collections from its inception in July 2017 to November 2024, categorizing data into year-wise and state-wise segments. GST collections comprise Central GST (CGST), State GST (SGST), Integrated GST (IGST), and cess, with their allocation governed by the Goods and Services Tax Settlement of Funds Rules, 2017. CGST revenue is credited to the Consolidated Fund of India, SGST to state funds, and IGST is apportioned between the Union and States based on consumption.