Hotel Association of India (HAI) welcomes the government’s GST rationalization efforts, viewing them as a catalyst for global competitiveness in Indian hospitality. HAI advocates for a uniform 5% GST rate with input tax credit across hotels, restaurants, and tourism services.
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In protection products, commissions initially range between 35% and 40% before tapering off, averaging about 5-6% over time. On top of this, insurers incur about 10% in other expenses. Currently, service tax of around 2% on such costs is offset…
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Minutes from the MPC meeting revealed discussions about potential rate cuts, but concerns over transmission, trade tariffs, and food inflation led to a pause. External MPC member Saugata Bhattacharya emphasized the neutral stance preserves options, with decisions based on incoming…
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The Income-tax Act, 2025, has been formally notified by the government. President gave his assent on August 21, 2025. The Ministry of Law and Justice issued a gazette notification. The new law extends to the entire country. It will be…
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The GST Council is set to convene in Delhi on September 3-4 to deliberate on a simplified two-slab GST structure of 5% and 18%, alongside a 40% levy for sin goods. Discussions will also include exempting life insurance products and…
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A proposed GST recast in India, aiming to boost the small car market by lowering taxes on ICE vehicles, could inadvertently hinder the growth of the electric car sector. With reduced price advantages, EVs, particularly small models, may face increased…
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