India’s indirect tax system has undergone remarkable transformation. The rollout of the goods and services tax (GST) and the landmark reforms announced on 3 September have established a modern, digital and more predictable framework.
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Union Minister of Commerce & Industry, Shri Piyush Goyal, addressing the 22nd CII Annual Health Summit, highlighted the Government’s focus on affordable healthcare through GST reduction on health and life insurance from 18% to 0%, and lower duties on medical devices and essential drugs.
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The current print is sharply lower than the RBI’s inflation projection of 1.8% for the October-December quarter. This means that unless inflation rises sharply in the next two months, it may end the third quarter undershooting the central bank’s forecast.
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New Delhi: The net direct tax collections rose 7% year-on-year to ₹12.92 trillion as of 10 November, reflecting steady inflows from corporate and personal income taxes despite a moderation in overall growth compared to last year.
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Automobile sales have been robust in October, reducing the inventory levels with automobile dealers from nearly two months’ stock to 53-55 days, according to the Federation of Automobile Dealers’ Association of India (FADA).
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Shares of Britannia Industries Ltd plunged as much as 6.7% on Tuesday after the board accepted Varun Berry’s resignation and relieved him from his position as vice-chairman, managing director and chief executive officer with immediate effect on 10 November. The board appointed Rakshit Hargave as managing director and chief executive officer from 15 December.
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In October, India's economy showed signs of recovery with a 41% increase in vehicle sales and record digital transactions. SBI Capital Markets projects nominal GDP growth at 8.5%, driven by robust domestic demand and festive spending despite global economic challenges.
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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: 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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