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These charges are taxed multiple times as they are billed in a circuitous manner, said a senior government official. (Representational image)

Govt forms committee to rationalise additional taxes on Aviation Turbine Fuel

Currently, airlines have to pay charges such as 'throughput charges', 'into plane charges' and 'fuel infrastructure charges.'

18 Aug 2019 11:56 AM

Despite growth being strong, overall, the investment climate was pretty weak, said Prachi Mishra, India Chief Economist, Goldman Sachs in a podcast wherein she discussed the drivers of India's economy. (Photo: File | AP)

Weak investment, muted monetary transmission big challenges for Indian economy: Goldman

India's GDP growth increased from an average of 6.7 per cent during 2010 to 2014 to 7.3 per cent during 2015 to 2019.

16 Aug 2019 1:34 PM

For the ninth month in a row, the bloodbath in the automobile market continues, with sales of all vehicle segments staying in the red in July.

Car sales at 2-decade low

According to Siam in the previous downturns the sector witnessed in 2008-09 and 2013-14, at least some of the segments of the industry were growing.

14 Aug 2019 1:31 AM

A total of 23 banks, including public sector, private sector, foreign and small finance banks, representing over 67 per cent of the banking industry, participated in the survey. (Representational Image)

Banks report reduction in NPA; seek steps to address stress in NBFCs: Survey

Participating banks suggested that government should simplify GST framework and lower GST rates to enhance tax compliance.

13 Aug 2019 6:35 PM

According to the Consumer Electronics and Appliances Manufacturers Association (CEAMA) President Kamal Nandi, the overall industry "was flat in July with no growth in demand."

TV sales dip; manufacturers ask govt to lower GST

Manufacturers are attributing the fall in demand to overall low consumer sentiments.

11 Aug 2019 6:19 PM

I do believe that kick-starting the auto industry with a few short-term measures will serve a greater national purpose, said Mahindra group chairman Anand Mahindra addressing the company's shareholders at its 73rd AGM. (Photo: File)

'Cut taxes or rollback cess as auto gloom deepens': Anand Mahindra

As many as 3.50 lakh jobs have reportedly been lost in the auto industry since the start of the fiscal.

07 Aug 2019 6:54 PM

Yes, we have asked for certain enablers for the auto industry and they have thought on it. I am very hopeful that there will be a stimulus package (for the auto industry) coming soon, said Society of Indian Automobile Manufacturers President Rajan Wadhera.

Auto industry seeks stimulus package from government

In a meeting with Finance Minister, industry representatives drew attention to challenges faced by the auto industry.

07 Aug 2019 5:09 PM

Auto sector employs over 35 mn, contributes more than 7 per cent to GDP and accounts for 49 per cent of manufacturing GDP.

Fund crunch speeds auto slump

Non-banking finance companies (NBFCs), or shadow banks, have dramatically slashed lending following the collapse of IL&FS, in late 2018.

05 Aug 2019 4:28 AM

'Demonetisation and GST rollout are perfect examples of ineptitude and lack of depth in the Modi Government,' (Photo: File)

Modi Govt's 'callous attitude' has brought economy to brink of meltdown: Rahul

'Their callous attitude has sent the Indian economy in tailspin and has brought it to the brink of a meltdown,' Rahul said.

31 Jul 2019 7:38 PM

Super 30 now GST-free in Maharashtra

The Devendra Fadnavis Cabinet on Tuesday decided to exempt the film —released on July 12 — from the state goods and service tax (GST).

31 Jul 2019 2:52 AM

Central Bureau of Investigation. (Photo: Representational image)

CBI arrests GST official in Punjab in bribery case

Searches were conducted at his residential and office premises in Mohali and Khanna, the CBI said.

30 Jul 2019 8:58 PM

The chamber also suggested to the GST Council that sale of scrips issued for different duty drawbacks and market promotion should not be subjected to levy of GST.

Assocham seeks inclusion of petroleum products in GST

The two-year period for keeping petroleum products outside GST is almost over.

25 Jul 2019 1:34 PM

Under the GST regime, already around 70 per cent of auto components have come under the 18 per cent GST slab.

Auto component industry fears loss of 10 lakh jobs due to prolonged slowdown

Vehicle sales in all segments have continued to plummet for the last several months.

24 Jul 2019 3:20 PM

The exemption from GST on maintenance charges charged by an RWA from residents is available only if such charges do not exceed Rs 7,500 per month per member.

18 pc GST on flat owners paying monthly maintenance of over Rs 7,500

Tax liability would be calculated for a person who owns two or more flats in the housing society or residential complex.

23 Jul 2019 8:49 AM

These goods are sold only when approved by the prospective customers abroad.

No GST on goods sent for fairs

Several goods are taken out of India for exhibitions or other export promotion events.

23 Jul 2019 1:07 AM

High-end phones that are getting sold in the grey market are estimated to cause a loss of Rs 2,500 crore annually on account of non-payment of basic customs duty (BCD) and also goods and services tax, said ICEA Chairman Pankaj Mohindroo.

Grey market sales of high-end phones causing revenue loss of Rs 2,500 cr: ICEA

The industry body has suggested imposing a maximum customs duty of Rs 4,000 on handsets priced above Rs 20,000.

21 Jul 2019 3:37 PM

The changes would ensure that indirect taxation-related matter would have greater simplicity and be effective, said Finance Minister Nirmala Sitharaman.

7 indirect tax-related laws being amended: FM Sitharaman

The government would also be bringing changes to seven laws related to direct taxes.

18 Jul 2019 3:00 PM

To a query on tax fraud cases after the goods and services tax (GST) roll-out, Minister of State for Finance Anurag Thakur said 424 cases involving Rs 1,216 crore were detected between July-March period of 2017-18. (Representational Image)

Taxmen detect Rs 37,946 crore fraud in FY19

In 2018-19, 1,620 cases of fake invoicing were detected involving Rs 11,251.23 crore, and 154 persons were arrested.

16 Jul 2019 4:34 PM

The country has a long way to go in setting up a nationwide recharging infrastructure, which will make electric mobility practical even as technology develops more compact batteries as well as quicker charging.

Give more time for switch to electric vehicles

The tax incentive proposals for EVs contained in the Budget were not that substantive as to see customers queue up.

14 Jul 2019 12:02 AM

Finance Minister referred to the government setting fiscal deficit target of 3.3 per cent from an earlier 3.4 per cent and said there should be no anxiety. (Photo: ANI)

Govt committed to fiscal consolidation, boost investment in social sector: Sitharaman

She said that the amount of money spent on central government schemes was higher two years after the implementation of GST.

10 Jul 2019 4:45 PM

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Shobhaa De