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The Economic Times
The Economic Times Developers urge government to reconsider proposal to bring FSI, additional FSI under GST
Realty developers’ body CREDAI has written to the finance minister Nirmala Sitharaman urging a review of the proposal as the move would result in a substantial incremental impact on project costs, pushing housing prices up by around 10% across various property markets of the country.
The Economic Times Cipla faces over Rs 1 crore penalty by GST authority
Cipla Ltd. was fined over ₹1 crore by the GST authority for allegedly claiming inadmissible credit. The company disputes the penalty, calling it arbitrary and unjustified, and plans to appeal. Cipla stated the order won't significantly impact its financials or operations.
The Economic Times Budget 2025: Will FM Nirmala Sitharaman increase 'sin tax'?
The Indian government held steady on sin taxes for tobacco in the latest budget. Cigarette taxes remained unchanged. A proposed 35% GST on sin goods like tobacco and aerated drinks is under consideration. This could hike prices. India's tobacco taxes are below the WHO's recommended 75% of retail price.
The Economic Times RBI board meeting discusses economic situation and outlook, appreciates outgoing Governor's service
As per a statement from the central bank, the Board placed on record its appreciation of the valuable services rendered by Shaktikanta Das during his tenure as Governor. Former RBI Governor Shaktikanta Das has served as the head of the central bank for six years which has ended on December 10.
The Economic Times India must leverage technology to decouple carbon emissions amid economic growth: EDF
India's rapid economic growth needs a green makeover. Technology is key to cutting emissions. India can lead in green tech. We must build our own solutions. Global climate finance must support developing nations. Concessional funding is crucial for a fair and sustainable future.
The Economic Times Stock market today: BSE Sensex ends over 1170 points down; Nifty50 below 23,600
Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, tanked in trade on Friday. While BSE Sensex went below 78,500, Nifty50 was just above 23,700.
The Economic Times Bitcoin taxation: Only Rs 33 lakh income tax liability on Rs 6.64 crore gain by selling Bitcoin for an Infosys employee, rules Jodhpur ITAT
Bitcoin is capital asset: Jodhpur ITAT recently ruled that an Infosys employee who purchased Bitcoin using his salary should pay capital gains tax at 20% rate and also claim section 54F tax exemption after he sold the Bitcoin for Rs 6.69 crore. The Income Tax Department wanted this person to pay 30% tax on that more than Rs 6 crore gains but lost the case. Curious to know why and which legal aspect this person used? Read below.
The Economic Times Adani Group to invest Rs 20,000 cr to set up thermal power plant in Bihar, says Pranav Adani
Adani Group will invest Rs 20,000 crore in a Bihar thermal power plant. The group will expand cement, food processing, and logistics operations. Rs 2,300 crore will be invested in logistics, creating 27,000 jobs. Smart meter manufacturing will receive Rs 2,100 crore. Cement plant capacity will increase. The power plant project will create thousands of jobs.
The Economic Times MobiKwik shares skid 6% as investors book profits after 117% returns in 2 sessions
MobiKwik shares, after a 37% surge post-debut and reaching Rs 605, dipped 5.7% to Rs 510.30 on Friday due to profit-booking. The fintech firm's IPO, oversubscribed 119 times, fueled optimism about its profitability and the digital payments sector. Experts advise profit-booking given high listing gains, suggesting a stop-loss around Rs 400 for long-term holders.
The Economic Times US attorney behind Adani's bribery charges, Breon Peace, to resign as Trump returns
Brooklyn US Attorney Breon Peace, appointed by President Biden, will step down on January 10. His tenure saw high-profile convictions, including singer R. Kelly and former Mexican official Genaro Garcia Luna. Peace's office also secured significant financial penalties from companies like Gunvor Group and RTX Corp. First Assistant US Attorney Carolyn Pokorny will replace him.
The Economic Times SEBI grants LIC three more years to achieve 10% public shareholding
The Securities and Exchange Board of India (SEBI) has granted an additional three years of time to the Life Insurance Corporation of India (LIC) to achieve 10 per cent public shareholding, the insurance company informed stock exchanges on Wednesday.
The Economic Times FAIFA demands withdrawal of 35% GST on tobacco
The Federation of All India Farmer Associations (FAIFA) projects 5.5% CAGR for Indian agriculture, reaching Rs 42 lakh crore by 2030. However, they oppose the proposed 35% GST on tobacco and aerated beverages, citing adverse impacts on farmers. FAIFA celebrated Kisan Divas, awarding farmers for outstanding contributions, and released their agricultural outlook emphasizing digitization and increased irrigation.
The Economic Times Hindustan Unilever faces ₹44.87 lakh GST demand order
Hindustan Unilever faces a ₹44.87 lakh GST credit disallowance and an equal penalty from the Patna tax authority. The company plans to challenge the order, issued under the CGST and IGST Acts, in an appellate forum, according to a regulatory filing.
The Economic Times GST Council meet: Ordering from Swiggy, Zomato may get cheaper; health insurance exemption on cards
The GST Council is set to discuss several changes, including reducing tax on life and health insurance premiums, food delivery platforms, and aviation turbine fuel. It may raise taxes on luxury goods like wristwatches, shoes, and apparel, and introduce a 35% tax for sin goods.
The Economic Times Tolins Tyre appoints Sojan C S as CFO
Sojan’s appointment follows the resignation of Ravi Sharma, who stepped down as CFO and Key Managerial Personnel of the company.
