The Indian government has exempted import duty on cotton from August 19 to September 30 to ease supply shortages and support the textile sector. Industry leaders had advocated for the removal of the 11% duty, both to lower input costs…
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Industry executives told ET that they would soon be writing to the government seeking a lower GST rate for telecom services. They contend that the telecom industry continues to be highly taxed and around 30% of its earnings are paid…
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Indian stock market anticipates GST simplification, potentially benefiting autos, cement, consumer goods, retail, hotels, and financials. Auto sector, especially two-wheelers, could see increased demand due to lower tax rates and potential RBI rate cuts. Financials may indirectly gain from credit…
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The Income Tax Department is investigating US investor Jane Street. It has summoned EY, Jane’s auditor in India. The department seeks details about Jane’s Indian operations. They want to know who controlled the trading and where instructions originated. The tax…
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Former RBI Governor D Subbarao cautioned against ‘Make in India’ becoming overly protectionist, potentially deterring investments and harming productivity. He highlighted concerns over the US imposing 50% tariffs on Indian exports, which could significantly impact India’s competitiveness in its largest…
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Indian mutual funds experienced a 5.6% decrease in overseas assets, reaching USD 8.3 billion in FY25, primarily due to reduced holdings in foreign equity securities. Despite global market volatility and geopolitical tensions, flows into domestic equity schemes surged by nearly…
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