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Driven by robust demand for sports utility vehicles, passenger vehicle sales in India soared to a record high in FY24 with dispatch of more than 42 lakh units. Overall vehicle dispatches from maker to dealers rose to 42.3 lakh units in FY24, an increase of 9%, compared with 38.9 lakh units in FY23. SUV’s share…
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File. | Photo Credit: Paul Noronha Stock markets started the new fiscal on a high with benchmark Sensex and Nifty scaling fresh record high levels in intra-day trade before settling in the green on April 1, backed by firm trends in Asian markets and foreign fund inflows. Extending its winning momentum to the third day…
Read More “Stock markets start new fiscal on a high; Sensex, Nifty scale new lifetime highs” »
India’s gross GST revenues hit their second-highest level in March. File | Photo Credit: Reuters India’s gross Goods and Services Tax (GST) revenues hit their second-highest level of ₹1,78,484 crore in March, even as the growth rate in tax collections slowed to 11.5% from 12.5% in February. This lifted the total tally from the indirect…
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Hydro output in India, the sixth-biggest hydropower producer, fell nearly seven times faster than the global average, Ember data showed. File | Photo Credit: NISSAR AHMAD India’s hydroelectricity output fell at the steepest pace in at least 38 years during the year ended March 31, a Reuters analysis of government data showed, as erratic rainfall forced…
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RBI Governor Shaktikanta Das presented a memento to Prime Minister Narendra Modi during a ceremony to mark 90 years of the Reserve Bank of India in Mumbai on April 1, 2024. | Photo Credit: PTI Prime Minister Narendra Modi on April 1 said India needs to become economically self-reliant in the next ten years so…
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The BSE Sensex reached its all-time high of 74,254.62 and the NSE Nifty hit the lifetime peak of 22,529.95 on April 1, 2024. Benchmark equity indices started the new fiscal on a bullish note on April 1, with the Sensex and Nifty reaching all-time high levels, amid firm trends from Asian markets and foreign fund…
Read More “Sensex, Nifty hit all-time high in early trade” »
The Finance Ministry said there is no change in the new income tax regime for individuals for the current fiscal year and individual taxpayers can opt out of the regime at the time of filing their income tax return (ITR). Clarifying on social media posts claiming certain changes in the new tax regime effective April…
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For all investigations, tax officials have been asked to ascertain if any inquiry has already been initiated on the same subject matter or with respect to the same taxpayer or GST Identification Number by another investigating office or tax administration. File | Photo Credit: The Hindu The Department of Revenue has asked the Central Goods…
Read More “Now, GST probe into big corporates, major MNCs needs a ‘written approval’” »
Reliance Industries KG-D6’s control and raiser platform is seen off the Bay of Bengal. File | Photo Credit: Reuters The government on March 31 cut the price of natural gas produced from difficult areas like deep sea KG-D6 block of Reliance Industries, marginally to $9.87 per million British thermal unit in line with softening of…
Photo used for representation purpose only. | Photo Credit: Reuters Infosys expects a refund of ₹6,329 crore from the Income Tax Department, the country’s second largest IT services company said. It also informed the stock exchanges about tax demand to the tune of ₹2,763 crore, citing various assessment orders. Infosys Ltd said it has received…
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