Overall, GST collections, after refunds and excluding cess, stood at Rs 1.52 lakh crore in November as against Rs 1.50 lakh crore, up 1.3 per cent from last year. Including cess, net GST mop-up was Rs 1.56 lakh crore in November, down 4.2 per cent from last year.
With Q2 growth also exceeding expectations by a wide margin — the RBI had predicted a growth rate of 7 per cent for July-September — the central bank could raise its projection again next week after the Monetary Policy Committee’s (MPC) meeting.
This comes after multiple units in the SEZs, particularly those which entirely cater to the US market, have written to the Commerce Ministry seeking that they be de-notified due to sudden tariff pressure that has left exports uncompetitive in the US market.
50% US tariff expected to weigh on growth next year…manufacturing to export could create the millions of jobs India needs: Bank South Asia Chief Economist
FMCG major Hindustan Unilever has already flagged the risk of “near flat to low-single digit” consolidated business growth in Q2, which it sees spilling over till October as well.
The field offices have been asked to treat this price compilation exercise “on priority”, with the monthly report to be sent to the Central Board of Indirect Taxes and Customs (CBIC) by the 20th of every month
An industry executive who did not wish to be named said that if there is a risk of substantial amounts getting stuck within the refund process, it gives way to tendencies of evasion
India can learn from Chinese expertise in manufacturing Naushad Forbes, Co-Chairman of industrial machinery manufacturing company Forbes Marshall, says the challenge triggered by US tariffs should be an opportunity to push for reforms wherein the Centre devolves powers to states, and states in turn empower cities.
The current account deficit is the difference between exports and imports of goods and services. It is a key indicator of the country's external sector.
According to the Chief Economic Advisor, online sales and digital transactions need to be monitored to better understand the state of private consumption in the country.
The IT Ministry had sought Microsoft’s response on why it had suspended services to Nayara Energy, which resulted in its employees not being able to access their own data and communication channels.
He said the RBI has ensured ample liquidity in the banking system and will take all necessary steps to support economic growth, especially in sectors that may be more severely impacted.
Six days ago, Prime Minister Narendra Modi, in his Independence Day address, announced the next big phase of reforms under the GST regime by Diwali, a gift for the common man, small entrepreneurs and MSMEs, in terms of reduced tax burden.
Speaking at the All About Music conference, IMI Chairman Vikram Mehra urged the government to mandate disclosures whenever generative AI models ingest copyrighted materials during their machine learning processes
Inside Nidhi Shah’s Mumbai house: White closet, mangrove views from balcony
Lifestyle22 min ago
Nidhi Shah, famous for her role in Anupamaa, shared a glimpse of her Mumbai home on social media. The house is a perfect blend of vintage and modern styles, with Indian-inspired elements. The living room has a six-seater sofa, TV cabinet, and two balconies overlooking mangroves. The kitchen has a clay pot and a fridge decorated with magnets from Nidhi's travels.
