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The government is likely to introduce amendments to Goods and Services Tax (GST) law through the Finance Bill, 2023, denying businesses credit for the taxes paid while procuring goods and services that they provide to the community under their corporate…
The bicycle industry is passing through a recessionary phase and the Central or state governments have failed to address the issue, claimed industrialists. Avtar Singh Bhogal from Bhogalsons said the greatest threat to the cycle industry is from China. “China…
After an estimated dip of 5 per cent in 2022, smartphone shipments in India is forecast to grow 10 per cent year-on-year (YoY) this year, Counterpoint Research analysts have said. Ahead of the Union Budget 2023-24, smartphone companies are eying…
Infrastructure status for the hospitality sector, putting tourism in the concurrent list, export status for tourism earnings and further rationalisation of the goods and services tax (GST) are among the key expectations of the tourism and hospitality sector from this…
The telecom operators reiterated their demand for a reduction in licence fee, removal of Goods and Services Tax (GST) on licence fee, spectrum usage charges, and spectrum payments, customs duty on imports, among others, in the upcoming Budget for 2023-24.…
Businesses may have to wait longer for quicker resolution of Goods and Services Tax (GST) related disputes under the proposed appellate tribunals, as the Finance Bill 2023 is expected to skip crucial amendments needed in this regard. The plan to…
International Road Federation (IRF), a global body advocating for safer roads, on Thursday said that it has made a plea to the government to do away with the GST imposed on helmets. At present a GST of 18 per cent…
Reduction of GST on health cover to 5 per cent, hike in 80D limit and tweaking of norms on pension/annuity products to make them more attractive to people top the wishlist of insurers for the ensuing budget 2023-24. “In spite…
1. Finance Ministry considers reducing tax rates to make new direct tax regime more attractive. 2. Govt. likely to reduce 30% to 25% tax rate under the new regime 3. Fin Min in Discussion with PMO for a Final Nod…
The government may look at rationalising long term capital gains (LTCG) tax structure in the forthcoming Union Budget for 2023-24. As of now, shares held for more than one year attract a 10 per cent LTCG tax. This tax was…