Government to hike import duty on goods that can be manufactured in India

“Why would you import something which can be produced in the country,” said a finance ministry official.

12 Aug 2022

Blow to privacy as airlines told to share international passengers’ info

Under the new regulation, aircraft operators will have to transfer the PNR details to the Customs department in a specified format.

10 Aug 2022

Income Tax Appellate Tribunal reprieve for Anil Ambani in yacht customs duty case

The case pertains to assessment year 2013-14. Reliance Transport and Travels had debited Rs 32.12 crore as customs duty, out of which Rs 26.49 crore was claimed as business expenditure.

06 Aug 2022

Bad bank finds itself jobless; Work may trickle in by September

Banking sources told this newspaper that no bank has begun the transfer of loans, which is likely to start only by the end of the September quarter.

30 Jul 2022

Transfer of bad loans to NARCL likely to start by September

Banking sources told The New Indian Express that no banks have begun the transfer of loans yet and the same is likely to start only by the end of the September quarter.

29 Jul 2022

Administering Covid vaccines in hospital liable to GST: Andhra Pradesh advance ruling authority

The AAR held that inpatient services are covered under the healthcare services extended by the clinical establishments, which are exempt under GST.

26 Jul 2022

From investment portfolio to education abroad: Here is how rupee depreciation impacts your money

As much as 86% of Indian imports are invoiced in dollars. Therefore, when the rupee depreciates against the US dollar, imports become costlier in rupee terms.

25 Jul 2022

Health insurers allowed to choose hospital network

Earlier, only those hospitals that were part of the IIB’s Registry of Hospitals in the Network of Insurers (ROHINI) could be empanelled in the network of hospitals for cashless facilities.

22 Jul 2022

Government proposes changes in GST return filing system, floats out concept note

The Board has also proposed a separate amendment table in GSTR-3B to display the changes made by the taxpayers in GSTR-1, which contains details of all the sales made by a business.

19 Jul 2022

Government likely to table SEZ bill in monsoon session of Parliament

The proposed bill is likely to replace the existing SEZ Act with the new law, which will enable the economic zones to become export hubs, as well as development hubs.

15 Jul 2022

High US inflation may force RBI to raise rates

US retail inflation topping 9.1% in June could have repercussions for India as the Reserve Bank of India may be forced to increase interest rates to keep pace with the US.

14 Jul 2022

Retail inflation likely to be at 7.25% in June

Retail inflation in June is likely to be nearly 7.25%, higher than 7.04% in May, largely due to higher vegetable prices, feel experts.

12 Jul 2022

CPSE capex up 14% in first 2 months of current financial year

The Central Public Sector Enterprises (CPSEs) have so far spent Rs 72,000 crore in Capex in the first two months of the current financial year, sources in the government told TNIE. 

12 Jul 2022

Disputes with Spandana Sphoorty resolved, says ex-MD of microfinance firm after truce

Padmaja, however, did not disclose more on the terms of the settlement as she said that the agreement (with the Spandana board) has a confidentiality clause.

25 Jun 2022

New Central public sector enterprise 'Karmayogi Bharat' may fall in Schedule A category

There are 4 schedules in the categorization of CPSEs which are made on the basis of their importance to the economy and the complexities of problems.

23 Jun 2022