The Goods and Services Tax (GST) Council, in its 55th meeting held in Jaisalmer, took up several contentious issues but deferred decisions on some key matters. This article covers the major updates from the meeting, including discussions on food delivery, insurance premiums, popcorn varieties, and used electric vehicles. Deferment of GST Rate Cuts on Food …
The market regulator Securities Exchange Board of India (SEBI) has identified a case of front-running involving an equity dealer from PNB Metlife India Insurance. The dealer, Sachin Dagli, along with his associates, illicitly gained profits over a span of 3 years through unauthorised trading activities. As a result of the findings, SEBI has issued an …
Popcorn, the quintessential snack for movie lovers, has sparked an online debate—this time not over flavors but taxes. The spotlight is now on caramelised popcorn, which attracts a higher GST rate than its salted counterpart. So, what’s the catch? Let’s dive into the details. The Sweet Divide: Understanding GST Rates Currently, the Goods and Services …
The Goods and Services Tax (GST) Council has approved an increase in the GST rate on the sale of old and used vehicles from 12% to 18%. This revision applies to vehicles sold by businesses that claim depreciation and sell vehicles on a margin basis. However, individual buyers and sellers of old vehicles will continue …
The Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY) is a government-backed health insurance scheme aimed at providing free medical coverage to vulnerable sections of society, including senior citizens above 70 years of age. Beneficiaries can avail of health coverage of up to ₹5 lakh annually, ensuring access to quality medical care without financial burden. …
The fiscal year 2024 marked another milestone for India’s States in managing their finances effectively. By maintaining the gross fiscal deficit (GFD) at 2.9% of GDP, they not only adhered to the Fiscal Responsibility Legislation limit of 3% but also displayed resilience amidst economic pressures. However, challenges such as debt reduction, subsidy rationalisation, and reforms …
On December 19, 2024, the BSE Sensex and NSE Nifty50 experienced significant losses, both dropping over 1%. The decline followed hawkish remarks from US Federal Reserve Chairman Jerome Powell, which triggered a global market sell-off. The BSE Sensex ended the day 964.15 points, or 1.20%, lower at 79,218.05. During the session, it fluctuated between 79,516.17 …
On December 18, 2024, benchmark indices BSE Sensex and NSE Nifty50 ended the day in the red. The Sensex fell by 502.25 points (0.62%) to close at 80,182.20. Throughout the day, it traded between a high of 80,868.02 and a low of 80,050.07. Similarly, the Nifty50 declined by 141.21 points (0.58%) to end at 24,198.85, …
The Karnataka Legislative Assembly recently passed the Karnataka Motor Vehicles Taxation (Second Amendment) Bill on December 17, introducing an additional cess of ₹500 on private two-wheelers and ₹1,000 on private cars at the time of registration. This move, despite opposition protests, aims to support social welfare schemes for transport workers in the state. Objective of …
The Indian pharmaceutical market for FY 2023-24 is valued at USD 50 billion, with domestic consumption contributing USD 23.5 billion and exports at USD 26.5 billion. India stands as the third-largest by volume and 14th by value globally, driven by a diverse product base including generics, biologics, and vaccines. As per the National Accounts Statistics …
