Ten months. Two states. Countless rejections. Still no GST. Bengaluru-based entrepreneur Pritam Kudev wasn’t exaggerating when he wrote on LinkedIn, “It’s too easy to do business in India. — Someone who has never applied for GST!” Kudev’s startup Mannlich first tried registering for GST in West Bengal—only to be rejected, clarify, get rejected again, and … Read more
An investor’s blunt post on India’s tax burden has reignited criticism of the country’s indirect tax structure, drawing attention to the compounding effects of GST and levies on high-end purchases. “If buy any SUV in India, you have to pay over 50% in taxes to the government of India,” wrote investor A K Mandhan on … Read more
Credit cards, while offering convenience and rewards, often come with fees that are not immediately apparent to the cardholder. These hidden charges can inflate the cost of using a credit card significantly. Understanding these fees can help you save money, budget effectively, and optimise the benefits of your card. Among the most common charges are … Read more
Finance Minister Nirmala Sitharaman has said that GST rates will come down further, with the process of rationalising tax slabs nearing completion. Speaking at The Economic Times Awards, she stated that the Revenue Neutral Rate (RNR) had already dropped from 15.8% in 2017 to 11.4% in 2023 and hinted at further reductions. “It will come … Read more
Finance Minister Nirmala Sitharaman informed the Rajya Sabha on Tuesday that a reduction in goods and services tax (GST) can be expected. She stated that the GST Council is currently working on streamlining the rate slabs for Goods and Services Tax. Additionally, the finance minister highlighted that there has been a significant decrease in GST … Read more
Budget expectations: On February 1, 2025, Union Budget will be presented by Finance Minister Nirmala Sitharaman at the Lok Sabha. Income taxpayers are expecting significant tax breaks. The taxpayers may expect some big changes as PM Narendra Modi and President Draupadi Murmu hinted at some major shakeup. Ahead of the Budget 2025, President Draupadi Murmu suggested … Read more
“The government can be a little more generous in increasing the slab rates and making sure that the starting base on which personal taxes are paid goes higher than what it is now,” says Gokul Chaudhri, President (Tax), Deloitte India.I am going to first start with where do we stand in terms of the tax … Read more
There is a growing demand to reduce or eliminate the current 18% Goods and Services Tax (GST) rate on life and health insurance policies. The high GST rate on insurance premiums poses a significant obstacle, especially for individuals with limited incomes. The combination of high premiums and GST makes insurance products inaccessible to many. Ajit … Read more
The Supreme Court has agreed to hear urgent petitions from online gaming companies this Friday, as they seek a stay on Goods and Services Tax (GST) demands and related proceedings. There are concerns that the final hearing on the constitutional validity of the GST imposed on these companies could be lengthy, potentially leading to adverse … Read more
“Qatar has recently come up with anti-dumping duties on the Morbi Ceramic products, that is one negative thing. Container freight rates are still much-much higher as compared to the last year. Thirdly, credit period crunch is also one more issue based upon our sources it is indicating. And lastly, on the domestic demand is not … Read more