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The Economic Times
The Economic Times Textiles and pharma PLI schemes likely to see longer product list
The cabinet was set to decide on expanding the production-linked incentive (PLI) schemes in sectors like textiles, food processing, and pharmaceuticals to include more products. Meanwhile, the budget for PLI schemes increased to `16,092 crore for FY25. Textile PLI might see a lower investment threshold, with more man-made fabric products and apparel possibly being added.
The Economic Times Surging shipping costs give companies a sinking feeling
The global shipping industry faced significant challenges, with spot freight rates increasing by around 105% in three months. Companies like Bajaj Auto and CEAT experienced disruptions similar to the pandemic era, highlighting severe container shortages affecting various sectors, including agriculture and automotive.
The Economic Times Yes Bank in stake sale talks to give exit to its lenders
"Banks led by State Bank of India had come in to support the reconstruction scheme. As per regulations, banks cannot remain invested in other banks," managing director and chief executive Prashant Kumar told ET in an exclusive interaction.
The Economic Times India will not sign global tax deal until its concerns are addressed: Revenue Secy Sanjay Malhotra
The so-called "Pillar 1" arrangement, part of a 2021 global two-part tax deal, aims to replace unilateral digital services taxes (DSTs) via a new mechanism to share taxing rights on multinational companies, such as U.S. tech giants Alphabet's Google and Amazon and Apple.
The Economic Times DPIIT recognises 1.40 lakh entities as startups as on June 30
The Department for Promotion of Industry and Internal Trade (DPIIT) has recognised 1,40,803 entities as startups as of 30th June 2024 said Minister State for Commerce and Industry minister Jitin Prasdada in a written reply to the Rajya Sabha. The minister also informed under the Startup India Seed Fund Scheme, Rs 90.52 crore was approved to startups by incubators as of June 30 as against Rs 186.19 crore in 2023.
The Economic Times Sebi bars Mallya from accessing securities market for 3 years
Sebi's investigation is based on the findings of Financial Conduct Authority, its counterpart in UK, for the period from January 1, 2006 to March 31, 2008.
The Economic Times SC allows states to levy taxes minerals; holds royalty are not tax
On July 25, The nine-judge Constitution bench of the Supreme Court has held that royalty payable on minerals is not tax. The majority judgment was authored by Chief Justice of India DY Chandrachud on behalf of himself and seven colleagues.The dissenting judgment was authored by Justice BV Nagarathna.
The Economic Times Angel Tax scrapped: FM Sitharaman explains the rationale behind removing the decade-old tax
The Union Budget 2024 brought respite for venture investors as it abolished the decade-old Angel tax. When asked about the reason behind the move, Sitharaman said that it was one of the many steps Centre took to help Indian startups thrive. This move, however, leaves those pending to pay their previously due angel taxes in a tough spot. Sitharaman has stated that the government is working to 'sort this out'.
The Economic Times Budget 2024: No GST demand notice to be issued beyond 42 months from the due date of filing annual return; Know how it will help you
GST: Now demand notices of GST cannot be issued beyond 42 months from the due date of filing GST annual return. Moreover, GST demand orders now have to be issued within 12 months from the date of GST demand notice. Know how this Budget 2024 amendment helps you in GST cases.
The Economic Times Big GST relief in budget 2024: No need to pay interest and penalty for these GST notices
Budget 2024: Relief for GST registered individuals and companies. "The waiver of interest and penalties for tax disputes faced by genuine taxpayers will reduce the financial burden on taxpayers, particularly benefiting small businesses and individual taxpayers who may face cash flow constraints and cannot really afford to litigate," says Siddharth Surana, Director, RSM India.
The Economic Times Budget 2024: Proposal to insert Section 11A in GST Act aimed at exceptional cases only, says Revenue Secretary
The Budget 2024 proposal to insert Section 11A in the GST Act aims to resolve legal ambiguities, ensuring it is used only in exceptional cases, said Revenue Secretary Sanjay Malhotra.
The Economic Times Corporate Insights: Navigating through Budget 2024
In their latest analysis, Rakesh Nangia, Non-Executive Chairman, and Sandeep Jhunjhunwala, Partner at Nangia Andersen LLP, dissect Budget 2024’s strategic moves towards a "Viksit Bharat" and its economic implications.
The Economic Times A tax roadmap for Viksit Bharat
A strong message coming through in the budget is that the government has taken cognizance of some of the critical issues impacting corporate India and is willing to relook at some provisions that have caused concern.
The Economic Times DGFT enhances EPCG scheme to improve ease of doing business for exporters
DGFT’s EPCG Scheme reforms aim to boost the ease of doing business for exporters: extended deadlines for installation certificates, simplified fee structures, and uniform composition fees are the key highlights. These changes streamline compliance, reduce costs, and promote automation.
The Economic Times Banks need to focus on their core business: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman in an interview with ET has emphasized that banks must refocus on their primary roles of mobilizing deposits and providing loans, especially amid concerns about slowing deposit growth. Sitharaman reiterated the need for banks to prioritize their core functions—mobilizing deposits and lending—while still being free to pursue other activities.
