Category: Business

Business

Arunachal committed to support GST reforms for economic growth: Deputy CM

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The Union Minister (L) said that the State remains dedicated to supporting reforms that simplify the GST framework, ensure fairness, and cater to the unique needs of Arunachal Pradesh. | Photo Credit: X/@ChownaMeinBJP Arunachal Pradesh Deputy Chief Minister Chowna Mein stated that the government is committed to support GST reforms for fostering economic growth and…

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U.S. consumer spending rises in November; monthly inflation subsides

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Customers wait in line to check out at a Costco store on December 11, 2024 in Novato, California. According to a Bureau of Labor Statistics report, the consumer price index increased 0.3 percent to a 12-month inflation rate of 2.7 percent in November, 0.1 percentage point higher than October. | Photo Credit: AFP U.S. consumer…

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55th GST council meeting in Jaisalmer on December 21, 2024: Finance Minister Nirmala Sitharaman media briefing

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Union Finance Minister Nirmala Sitharaman chairs the 55th meeting of the GST Council, in Jaisalmer, on December 21, 2024. | Photo Credit: PTI Finance Minister Nirmala Sitharaman on Saturday (December 21, 2024) said that States did not agree on bringing aviation turbine fuel under the ambit of Goods and Services Tax. “States did not feel…

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Soaring inflation pushes up health insurance premiums; makes standardised care costlier

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Representative image | Photo Credit: Getty Images Since the COVID-19 pandemic, India is witnessing a surge in health care cost inflation making assured and standardised health care unviable for several sections of the society and pushing up health insurance premiums. Last year the country witnessed a health care cost inflation of 14% even while general…

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Proposed GST hike for Kashmiri shawl will finish craft: Mehbooba Mufti

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Mehbooba Mufti. File | Photo Credit: PTI People’s Democratic Party (PDP) supremo Mehbooba Mufti on Saturday (December 21, 2024) said the proposed increase in GST for Kashmiri shawl would finish the craft and appealed to Jammu and Kashmir Chief Minister Omar Abdullah to address the issue. She also alleged that the Centre was trying to…

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GST Council meet to decide on lower taxes on insurance policies, ATF inclusion

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Several proposals of Fitment Committee, comprising officials from the Centre and States GST Department would come up for review before the Council. File | Photo Credit: The Hindu The 55th GST Council meeting which is expected to decide on reducing tax rate on health and life insurance, besides considering rate rejigs on 148 items began…

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Honda Cars to hike vehicle prices by up to 2% from January

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From left, Vice President of Marketing and Sales of the Honda Cars India Ltd. Kunal Behl, the company’s President and CEO Takuya Tsumura, the company’s Marketing and Sales Director Ryuto Shimizu, and Product Development Team representative for the All-New Amaze from Honda R&D Asia Pacific Peerachet T at the global debut of the All-New 3rd…

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Cipla faces over ₹1 crore penalty by GST authority

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Pharma major Cipla Ltd on Friday (December 20, 2024) said a fine of over ₹1 crore has been imposed on the company by GST authority for alleged inadmissible credit claim. The company has received an order dated December 18, 2024 passed by the GST authority, imposing a penalty of ₹1,11,94,324 under applicable provisions of the…

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Business

Government hikes copra MSP by up to ₹420 to ₹12,100 per quintal

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The total financial implication of the copra MSP hike would be ₹855 crore. | Photo Credit: The Hindu The government on Friday (December 20, 2024) announced an increase in the minimum support price (MSP) for copra by up to ₹420 to ₹12,100 per quintal for 2025 with a budget outlay of ₹855 crore. A decision…

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U.S. recognition of tea as a healthy beverage hailed

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Tea (Camellia sinensis) leaves. | Photo Credit: K. Ananthan The North Eastern Tea Association (NETA) has hailed the United States Food and Drug Administration (FDA)‘s recognition of tea from the plant Camellia sinensis as a healthy beverage. On December 19, the FDA issued a final rule to update the “healthy” nutrient content claim to help consumers identify…

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