TAX, EFP, GST, ITR news
The food and beverage (F&B) industry is integral to the growth of the economy, contributing approximately 3% to the country’s GDP and employing over 7.3 million people. However, the industry has been grappling with many challenges in recent times, pertaining to spikes in raw material prices, logistics and utility costs, which have adversely impacted profit …
Mumbai: Domestic rating agency Icra on Wednesday said small finance banks (SFBs) will see an uptick in delinquencies in FY25, and the asset growth will slow down to 18-20 per cent. The slowdown in growth from the 24 per cent in FY24 was attributed to the industry-wide concerns in the microfinance segment, where almost all …
SFB NPAs to go up, loan growth to slow to 18-20 pc in FY25: Icra Read More »
With Indians holding massive savings in gold, Kotak Mutual Fund MD Nilesh Shah believes that if Finance Minister Nirmala Sitharaman thinks creatively about utilizing these frozen savings to raise resources for futuristic investments, then this step will truly bring ‘sone pe suhaga’ (the cherry on top).As the global economy shifts from globalization to protectionism, with …
Goods and Service Tax (GST) registered taxpayers who wish to apply for the GST Amnesty Scheme 2024 under section 128A announced in Budget 2024, should note about a procedural change in filing its application. Without submitting a request for withdrawal of appeal, the taxpayer cannot apply for the GST Amnesty Scheme under section 128A. The …
It has not been an easy time for the gems and jewellery sector in the backdrop of geopolitical uncertainties, rising interest rates and demand slump in major consumer markets playing spoilsport. The overall gems and jewellery exports fell 8.14 percent year-on-year in December to Rs 18,281.49 crore ($2,195.23 million), as per data released by the …
In the rough: India’s Gem and Jewellery industry loses shine, pins hope on budget Read More »
Bank of India is marketing its first dollar syndicated loan since 2012 of as much as $400 million, people familiar with the matter said, at a time when more Indian borrowers are tapping global credit markets. The Indian lender is raising the loan — split into three- and five-year tranches — via its branch located …
Bank of India seeks its first dollar loan in more than a decade Read More »
Markets regulator Sebi has renewed its recognition of AMC Repo Clearing Ltd as a clearing corporation for one year till January 16, 2026 for clearing and settling transactions in repo and reverse repo in debt securities. The regulator has granted renewal of recognition for one year starting January 17, 2025, according to a notification uploaded …
Sebi renews recognition to AMC Repo Clearing for 1 year to clear transactions Read More »
The Central Board of Direct Taxes (CBIC) has extended the deadline to file monthly GST return using GSTR-1 and GSTR-3B form, both by 2 days each. The deadline for those who are filing monthly GSTR-1 return is now January 13, 2025. For those taxpayers who are filing GSTR-1 on a quarterly basis the new deadline …
India has passed four new Labour Codes with the objectives of promoting labour welfare by way of “universalisation of wages and social security, ensuring safe and healthy workplace, formalisation of employment, higher female labour force participation, skill development of workers, portability of benefits for migrant workers” and other means. While not yet notified, the Labour …
Analysing the new labour codes: Impact on employee work hours, leave and overtime Read More »
The government has set up a crisis management group to deal with nationwide strikes by public sector bank employees. Apart from managing exigencies of strikes lasting three days or more, the group will work with banks to strengthen their standard operating procedures (SOPs) for ensuring business continuity, said a senior government official. The All India …
Government forms crisis management group to tackle bank strikes and ensure continuity Read More »
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