MUMBAI: For value retail players such as Tata Group’s Zudio, Reliance Trends and Vishal Mega Mart, the festive season just got bigger.With apparel and footwear priced up to Rs 2,500 now being moved to the 5% slab, lower and mid-income shoppers can splurge more on fashion. “We will see a big improvement in demand coming…
As govt prepared for the first major rejig of GST rates since its launch eight years ago, investors on Dalal Street followed the classic stock market strategy of ‘buy on expectations, sell on news’.In the run up to the announcement, stocks of several companies that investors expected would benefit from the GST rate changes, had…
Representative Image (AI-generated) MUMBAI: The reduction in health insurance premiums is unlikely to match the 18% GST cut as insurers are expected to pass some of the costs arising from input taxes to customers.While health insurance has seen the biggest drop in GST — from 18% to zero — the loss of input tax credit…
Representative Image (AI-generated) Life Insurance Council, a forum for stakeholders in the sector, has requested the GST Council and the finance ministry to reduce GST on agents’ commissions from 18% to zero. The request comes after GST on premiums and reinsurance were brought down to zero.The council feels that if agents’ commissions continue to attract…
File photo: Union minister Piyush Goyal (Picture credit: ANI) Union commerce and industry minister Piyush Goyal has assured that the reduction in Goods and Services Tax (GST) rates will directly benefit the common man, with industries across sectors committing to pass on the gains.Speaking to news agency ANI, Goyal said, “We have received assurance from…
Industry leaders and experts have said the newly announced GST 2.0 reforms will provide much-needed support to sectors impacted by the recent US tariff hikes, easing costs for consumers and boosting domestic demand. As per news agency ANI, stakeholders from textiles, automobiles, jewellery, exports and finance believe the rationalisation will help offset challenges posed by…
India is strengthening efforts to build a safer and more resilient road network by deploying technology-enabled, data-driven platforms such as the Integrated Road Accident Database (iRAD), according to a report released by FICCI and Crisil.The report highlighted that iRAD, developed by the National Informatics Centre (NIC), has been implemented nationwide across all 36 states and…
Gold rate today: Gold prices soared by Rs 900 to Rs 1,06,970 per 10 grams in the national capital on Friday, edging closer to record highs amid rupee weakness, firm global trends, and expectations of a US Federal Reserve rate cut later this month.According to the All India Sarafa Association, gold of 99.5 per cent…
Tesla CEO Elon Musk could be in line for a payout worth as much as $1 trillion if the electric carmaker meets a series of highly ambitious targets over the next decade, according to a regulatory filing released on Friday, the news agency AP reported.The proposed package includes a dozen share tranches linked to goals…
The Gem and Jewellery Export Promotion Council (GJEPC) on Friday said that recent GST reforms have delivered significant relief to the diamonds and jewellery sector, easing costs for both exporters and consumers.The government’s move to exempt imports of natural cut and polished diamonds up to 25 cents under the Diamond Imprest Authorisation Scheme (DIAS) from…