JAISALMER: The GST Council on Saturday decided to waive tax on gene therapy used to treat cancer and reduced the levy on fortified rice kernels used in PDS to 5%, but deferred a call on lower rates for health and term assurance and food delivery services as more consultations were required.The all-powerful panel led by…
MUMBAI: Former finance minister Arun Jaitley had encouraged Raghuram Rajan to take decisive action on cleaning up bad loans of Indian banks, the former RBI governor said in a recent interview to a news portal and asserted that the build-up of non-performing assets (NPAs) in the banking sector, worsened by corruption, delayed clearances, and the…
GST council has sanctioned a rate increase to 18% from 12% for transactions involving the sale of old and used cars. GST Council Meeting latest update: The ongoing 55th GST council meeting in Jaisalmer is addressing crucial taxation matters, including revisions for AAC blocks, fortified rice and flavoured popcorn categories.According to ET’s Deepshikha Sikarwar, the…
NEW DELHI: The Andhra Pradesh government and EdTech company PhysicsWallah have signed an agreement to set up a University of Innovation (UoI) at an investment of up to Rs 1,000 crore. The UoI is set to emerge as the first institute of eminence in the state and aligns with Chief Minister N Chandrababu Naidu’s aim…
MUMBAI: Markets regulator Sebi has detected a case of front running by an equity dealer with PNB Metlife India Insurance by which the dealer and his associates had together made illegal gains of Rs 21.2 crore over more than three years. Sebi, through an interim order, has barred Sachin Dagli (the dealer), and his associates…
MUMBAI: Billionaire Nikhil Merchant-owned Swan Energy has joined hands with AG&P Terminals & Logistics of US-based Nebula Energy to form a liquefied natural gas (LNG) and gas logistics ventures in India. Swan will own 51% in the LNG supply unit, while AG&P will hold the remaining 49%. This unit intends to supply LNG within India…
BENGALURU:TCS and Infosys, following the pandemic, have onboarded 12 new clients, each contributing $100 million or more in revenue. Meanwhile, Wipro and HCLTech have shown slower progress, gaining only seven clients within this revenue bracket.By the end of the 2023-24 fiscal year, TCS maintained 62 clients in this category, whilst Infosys reported 40. Wipro and…
JAISALMER: The DND Flyway order by the Supreme Court has come as a blow to shareholders led by IL&FS, who were hoping to garner as much as Rs 2000 crore from the sale of the company, banking on its toll revenue and development rights sought by Noida Toll Bridge Company. While lenders too stand to…
MUMBAI: Across-the-board selling pulled the sensex down by nearly 1,200 points on Friday as foreign funds sold heavily again in the closing hours. This was the fifth consecutive session of losses for the index, losing nearly 4,100 points or 5% during the week.A host of global and domestic factors – a hawkish statement from the…
If one fails to submit a belated return by December 31, 2024, specific consequences apply. ITR filing deadline: December 31, 2024, marks the final deadline for submitting belated and revised income tax returns for FY 2023-24 (AY 2024-25). Whilst various taxpayer categories have distinct ITR filing deadlines, the final date for belated and revised returns…
