The 56th GST Council meeting may finally resolve the long-pending dispute over post-sale discount credit notes. What exactly is the dispute? Will the Council clarify that commercial credit notes without service obligations are not taxable under GST? And can it…
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While merchandise exports are projected to remain under pressure due to US tariffs, India’s services trade surplus is expected to hit a record $205-207 billion in FY26, a report showed on Wednesday.
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The GST Council is set to convene, potentially overhauling India’s tax structure by reducing it to two primary slabs of 5% and 18%, alongside a 40% rate for luxury items. This reform aims to boost consumption and simplify compliance, but…
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The National Restaurants Association of India asks the government to rethink GST rates. Restaurants face high costs from rent, aggregator commissions, and marketing. They pay 18% GST on rent without input tax credit. Food delivery platforms contribute significantly to revenue.…
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Indian government bonds experienced a rise on Wednesday, fueled by optimism that both the government and the Reserve Bank of India would offer support following a recent selloff. The benchmark 10-year bond yield saw a decrease. Traders are hopeful the…
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Finance Minister Nirmala Sitharaman addressed textile industry concerns in Chennai amid economic challenges, including a 50% US tariff. Industry representatives sought financial relief, export incentives, and GST support. Sitharaman assured that the government is actively working on support measures.
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