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The budgetary allocation for the popular export benefit scheme, Remission of Duty and Taxes on Exported Products (RoDTEP), is likely to get a 10 per cent increase in 2024-25, over the Rs.15,070 crore allocated last fiscal, which may allow the Commerce Department to extend the scheme for the iron & steel, pharmaceuticals and chemicals sectors for the entire financial year, sources said.
Read more at: businessline
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The Tamil Nadu government has reduced the Local Bodies Entertainment Tax (LBET) from 8.6 per cent to 4 per cent. The move comes in after actor Kamal Haasan appealed to the government, stressing on the struggles that the Tamil film industry is going through financially post the pandemic.
The government is estimated to have forgone around ₹99,000 crore in revenue in the 2023-24 fiscal on account of tax incentives extended to corporates, Minister of State for Finance Pankaj Chaudhary said on Tuesday (July 22, 2025).
India’s financial crime agency has filed a complaint against Myntra Designs Pvt Ltd and its affiliated firms for alleged violations of foreign exchange rules involving ₹1,654.35 crore, according to a statement on Tuesday.