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The Economic Times
The Economic Times RBI is unlikely to cut rate or change status in Oct 9 monetary policy: BoB Report
The Reserve Bank of India (RBI) is expected to uphold the status quo on both policy rate and stance for the tenth consecutive time in its October policy meet, says a research report by the Bank of Baroda (BoB).
The Economic Times DGGI sends 300 notices to cos' top brass over input tax credit
The DGGI has issued over 300 show-cause notices to company officials for wrongfully availing input tax credit. Penalties up to 100% have been imposed. Notices target top management where their role in tax evasion is established. Industry argues penalties should only apply in exceptional cases. Recipients challenge the notices in court.
The Economic Times Experts welcome GST anti-profiteering revamp but warn on consumer protection and ongoing litigations
They said the restoration of oversight will enhance decision-making and compliance, highlighting that the initial purpose of anti-profiteering provisions—to ensure that reduced tax benefits reach consumers—has become less relevant as market conditions stabilise.
The Economic Times End of cess may not be blessing for 'sin taxed'
Cigarettes, tobacco products, carbonated drinks, and high-end automobiles in the 28% GST slab might see a rise in taxation as a cess ends in March 2026. Discussions are focused on maintaining high tax rates for demerit goods while possibly lowering GST on essentials such as pharmaceuticals.
The Economic Times Festive season will bring in higher GST collections in coming months: Experts
After the Goods and Services tax collections for September showed a yearly jump of 6.5 per cent, the experts in this domain have expressed optimism for the collections in the upcoming months, citing the continued festive season and the government's focus to ensure a stable revenue trajectory.
The Economic Times Lenders feel heat of climate change
Lenders in India are seeing negative impacts from extreme weather conditions, such as heatwaves, floods, and expected harsh winters, on their loan portfolios, affecting collection efficiency and sales. Financial institutions stress the need for climate-specific solutions and structural reforms to mitigate these risks.
The Economic Times Tax wars over old & new laws await Supreme Court's final verdict
The Supreme Court's impending verdict on the overlap of old and new reassessment tax laws from the pandemic era could affect around 90,000 taxpayers. The ruling will clarify executive power limits and procedural correctness, following significant litigation and challenges against the I-T department's reopening of old tax returns.
The Economic Times Gear makers' poor response to WiFi security mandate irks DoT
The new security mandate was scheduled to be implemented from October 1 but since only a handful of companies have applied, the government has given another one-month extension for companies to apply to avoid any disruption in supplies.
The Economic Times Generative AI raises cybersecurity concerns among companies, finds survey
The survey by Flexential found that nearly all IT leaders (95%) believe that their organisation's increased investment in AI has made them more vulnerable to cyberthreats.
The Economic Times Companies struggle to keep up with rapid pace of AI innovations, cybersecurity challenge
A large majority of US respondents are experiencing heightened concerns around market competition (73%), trust in new technologies (70%) and regulatory challenges (69%), surpassing last year's levels, according to a KPMG survey.
The Economic Times Disciplinary actions are not excessive; audit firms must improve processes and resources: NFRA Chief Ajay Bhushan Pandey
On October 1, marking the sixth anniversary of the NFRA, Chairman Ajay Bhushan Pandey spoke exclusively with ETCFO, addressing how India's auditing standards meet global requirements, investor protection, claims of pressure on auditors, debarment orders, and the organisation’s ongoing commitment to audit quality and compliance.
The Economic Times No new anti-profiteering investigations under GST from April 1, 2025
From April 1, 2025, new anti-profiteering investigations under GST will cease, allowing businesses to set prices independently. Ongoing cases will continue, with the GST Appellate Tribunal taking over from the Competition Commission of India starting October 1, 2024.
The Economic Times Resilient domestic growth, continued policy support give India Inc a strong credit boost
Leading credit ratings agencies on Tuesday highlighted the sustained strengthening of India Inc's credit quality, reflecting resilient domestic growth supported by the government's continued policy support.
The Economic Times Without development of rural India, difficult to achieve Viksit Bharat goal by 2047: CAG
India's Comptroller and Auditor General, Girish Chandra Murmu, emphasized that India cannot become a developed nation by 2047 without focusing on rural development and decentralization of power. He stressed the importance of strengthening local bodies and ensuring proper accounting and auditing standards.
The Economic Times Easier to claim tax refund in delayed ITR: CBDT doubles the limit for tax refund jurisdiction of commissioners for condonation of delay
Income tax refund: The Ministry of Finance has almost doubled the tax refund limit for accepting or rejecting condonation of delay requests. Ramakrishnan Srinivasan, former chief commissioner of Income Tax said, "In my experience as PCIT Chennai and at Kochi I have entertained many bonafide cases (due to flood, natural calamities etc, motor accident victims) by condoning delay. Happy to note CBDT has enhanced limits for senior officers in entertaining claims of higher amounts."
