Business

Apex taxation authority has inquired with cryptocurrency stakeholders about the necessity of new virtual digital assets (VDA) legislation, its administrative oversight, and the impact of current tax policies on trade migration. The Central Board of Direct Taxes (CBDT) has also sought feedback regarding the 1% tax-deducted-at-source (TDS) rate, potential adjustments, and the possibility of loss…

Indian refiners usually place orders a month before loading, and it generally takes an additional month for tankers to arrive at Indian ports. (AI image) As US President Donald Trump’s 25% additional tariffs, effective month-end loom, some Indian refiners are adopting a cautious stance towards Russian oil tenders, postponing orders for September-loading shipments. Refiners are…

Proposed changes in the Goods and Services Tax (GST) structure could temporarily push up India’s fiscal deficit, but the growth benefits are expected to outweigh the short-term setback, according to an analysis by Emkay Research cited by ANI.The report projects the fiscal deficit rising to 4.5 per cent in FY26 and 4.6 per cent in…

NEW DELHI: Amid expectations of job losses due to higher tariffs, exporters are seeking support for workers who would be hit by the impact of US President Donald Trump’s actions.At a meeting of export promotion councils convened by the federation of indian export organisations on Monday, most businesses suggested that a package from the Centre…

MUMBAI : The markets regulator is seeking to make it easier for India’s largest firms to go public. Sebi has proposed easing minimum public offer (MPO) norms and extending timelines for meeting minimum public shareholding (MPS) requirements. The proposals have been submitted to the govt for amending the Securities Contracts (Regulations) Rules.Currently, firms with a…

MUMBAI: Reliance Consumer Products (RCPL) bought a majority stake in a joint venture with Naturedge Beverages, marking its foray into the healthy functional beverages space. Naturedge Beverages is from the house of the 108year-old Baidyanath Group, which has a legacy of making Ayurvedic products.The acquisition comes at a time when there is a shift among…

BENGALURU: E-commerce majors Amazon India and Flipkart are expanding their workforce by about 1.5 lakh temporary staff each to handle the surge in orders expected during the upcoming festive season, people aware of the matter said.Amazon on Monday announced that it has created more than 1.5 lakh seasonal job opportunities across its fulfilment centres, sortation…

Govt mulling extra GST over and above 40% proposed on tobacco products (AI image) The government is reportedly considering imposing additional excise or special duties beyond the proposed 40% GST on tobacco products to sustain current taxation levels, following Prime Minister Narendra Modi’s announcement of GST 2.0 reforms that eliminate compensation cess.Several states are requesting…

US Secretary Marco Rubio (File photo) US State Secretary Marco Rubio cautioned on Monday about potential energy price increases if the United States enforces secondary sanctions on China for processing Russian oil.The US secretary was asked, “is Europe still buying Russian oil?”“Well, if you look at the oil that’s going to China and being refined,…

China cautious over approving partnership agreements with Indian firms that require transfer of critical tech (AI-image) As Prime Minister Narendra Modi prepares for his first visit to China in seven years, experts indicate that Beijing is exercising caution and delaying approval of partnership agreements between companies of both nations, particularly regarding critical technology transfers, according…