GST reforms: 0% GST on individual health and life insurance; reduced from 18%
GST reforms: 0% GST on individual health and life insurance; reduced from 18% Read More »
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GST rate cuts announced by FM Sitharaman! 5% and 18% to be two main slabs; new rates effective September 22
Finance Minister Nirmala Sitharaman announced significant GST rate cuts following the 56th GST Council meeting, implementing a two-tier structure of 5% and 18% effective September 22. The rate rationalization, supported by all states, aims to benefit the common man by consolidating rates and reallocating items across tax slabs.
GST revamps: FM Sitharaman announces special 40% tax slab for sin goods; levied on bidi, tobacco & more
The GST Council has approved a new 40% tax slab for sin and luxury goods, set to replace the existing cess. While the implementation date is pending, 5% and 18% slabs take effect from September 22. Finance Minister Nirmala Sitharaman announced the move, highlighting reduced tax burdens for the common person.
GST revamp: Council meet to weigh big rate rejig; 5% EV tax as opposition states push hard on revenue loss
The Centre is advocating for a 5% GST on electric vehicles as part of a broader tax overhaul, aiming to simplify the GST structure to two main slabs: 5% and 18%. This reform seeks to lower taxes on everyday goods while opposition-ruled states are concerned about potential revenue shortfalls and are seeking compensation.
Budget exercise: Finance ministry to begin FY27 preparations on October 9; GDP growth, demand and jobs in focus
India’s finance ministry will begin the Budget-making exercise for 2026-27 on October 9, amidst global economic uncertainties and new US tariffs. The upcoming budget aims to boost demand, create jobs, and achieve a sustained 8% growth rate. Ministries must submit data by October 3, with the budget expected on February 1.
Sugar stock rally on ethanol push: Rajshree tops chart at 20%; industry cheers govt move
Sugar stocks surged as the government permitted unrestricted ethanol production from the 2025-26 marketing year. This policy change, allowing ethanol production from various sugarcane sources, boosted investor sentiment. ISMA estimates a significant diversion of sugar towards ethanol, aiding stock management and farmer payments, driving rallies in Rajshree Sugars, Shree Renuka Sugars and others.
Sugar stock rally on ethanol push: Rajshree tops chart at 20%; industry cheers govt move Read More »
Yes Bank stake sale: CCI clears SMBC plan for up to 24.99% holding, Japanese lender set to become top shareholder
The Competition Commission of India (CCI) has approved Sumitomo Mitsui Banking Corporation’s (SMBC) proposal to acquire up to a 24.99% stake in Yes Bank. This move will make SMBC the single-largest shareholder in the private sector bank. The Reserve Bank of India (RBI) had previously approved the deal, paving the way for this significant investment.
US market today: Wall Street slides as AI stocks drag; bond yields climb, gold hits record-high
Wall Street experienced a significant downturn on Tuesday, with the S&P 500 facing its worst single-day loss in a month. The Dow and Nasdaq also declined, pressured by rising bond yields and a retreat from AI-related stocks. Simultaneously, safe-haven assets surged, with gold reaching a record high and silver crossing $40 for the first time