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Source: Live Mint South Korean automaker’s Indian arm, Hyundai Motor India Limited, received two goods and service tax (GST) notices from the Government of Tamil Nadu and the Government of Maharashtra, amounting to nearly 16 crore, according to an exchange filing on Friday, February 28. The Deputy Commissioner of the Maharashtra State Tax Department has…
Source: Live Mint PSU-institutional lender Indian Overseas Bank (IOB) received a ₹699.52 crore goods and service tax (GST) notice from the Chennai State Government, according to an exchange filing on Friday, February 28. The Deputy Commissioner of the Large Taxpayers Unit of Chennai has demanded the GST amount from the state-owned bank. According to the…
Source: Live Mint Google Pay starts levying convenience fee on payments made via credit and debit card for utilities such as cooking gas and electricity, reported Economic Times. This used to be free earlier. The fees are subject to Goods and Services Tax and amount to 0.5% to 1% of transaction value. This move by…
Source: Live Mint Stock Market Today: ITC, Godfrey Phillips India share prices decline up to 3% in the morning trades on Thursday on GST hike concerns. The news reports suggest that government may be considering GST hike on cigarettes and other tobacco products Read Full Article
Source: Live Mint The government in its Union Budget for 2025-26 proposed raising the foreign direct investment (FDI) limit for India’s insurance sector to 100% from 74%—meeting a long-awaited industry demand. So why did the stocks of most Indian insurance companies end the day flat to negative? The simple reason for that being that well-established…
Source: Live Mint Focused on managing a home loan and investing in over ten mutual fund schemes, Singh delayed signing up, opting instead for a higher in-hand salary. His decision, influenced by hopes of the old pension scheme (OPS) returning in some form, highlights the financial dilemmas faced by young government employees navigating between immediate…
Source: Live Mint The GST portal has been facing issues related to filing GSTR-1. On Thursday, GST Network posted an update on X, highlighting the problem. A message on GST Network’s social media handle, GST Tech, reads: “GSTN hereby acknowledges the issue being faced regarding GSTR-1 summary generation and its filing. It is to inform…
Source: Live Mint The tax treatment of popcorn has become a huge political ‘hot potato’ after the (GST) Council Meeting, led by Finance Minister Nirmala Sitharaman, notified taxation on salted and caramelised popcorn. Amid huge discussions, there are speculations around how much tax people must pay on the snack while purchasing it in movie theatres….
Source: Live Mint Share prices of cigarette makers ITC, Godfrey Phillips and VST Industries along with Varun Beverages declined on Tuesday after reports suggested that the tax slab on ‘sin goods’ is likely to be hiked. Varun Beverages share price plunged as much as 5.18%, ITC stock price declined 3%, Godfrey Phillips India shares declined…
Source: Live Mint City gas distributors Indraprastha Gas Ltd (IGL) and Mahanagar Gas Ltd (MGL) have suffered two consecutive blows in a month. The government has reduced the supply of cheaper natural gas by 20% for IGL and 18% for MGL, effective 16 November. This follows a previous reduction of 21% for IGL and 20% for MGL,…
