Category: Business

Business

Gross GST revenues hit their second-highest level of ₹1,78,484 crore in March

April 1, 2024 admin

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…

Business

India’s hydropower output records steepest fall in nearly four decades

April 1, 2024 admin

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…

Business

India needs to become economically self-reliant: PM Modi

April 1, 2024 admin

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…

Business

Sensex, Nifty hit all-time high in early trade

April 1, 2024 admin

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…

Business

No new change in income tax regime from April 1: FinMin

April 1, 2024 admin

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…

Business

Now, GST probe into big corporates, major MNCs needs a ‘written approval’

March 31, 2024 admin

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…

Business

Gas price for Reliance trimmed to $9.87; rate for gas that feeds CNG, PNG supplies still at $6.5

March 31, 2024 admin

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…

Business

Infosys to receive ₹6,329 cr tax refund from I-T dept

March 31, 2024 admin

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…

Business

Telangana to raise ₹16,000 crore market borrowings in the first quarter of FY 2024-25

March 31, 2024 admin

The logo of the Reserve Bank of India. File | Photo Credit: Reuters The Telangana Government has decided to raise ₹16,000 crore through market borrowings in the first quarter of the upcoming financial year 2024-25. The Government has submitted an indent for raising the amounts through the auction of securities during the April-June quarter. It…

Business