Finance - general

CBDT explains Budget proposal on capital gains tax

25 Jul 2024

The Budget, through the Finance Bill, has proposed a rationalisation and simplification of the taxation of capital gains.

India gives a big boost to MRO industry with uniform 5% IGST on aircraft components

17 Jul 2024

India has started levying a uniform 5 per cent Integrated Goods and Services Tax (IGST) on aircraft parts, beginning 15 July

India-US agreement on 2% e-commerce levy expires

02 Jul 2024

A transitional framework agreement on levying a two per cent tax on cross-country digital transactions adopted by India and the United States on 24 November 2021, expires on 30 June 2024

IREDA sets up subsidiary in GIFT City

10 May 2024

Indian Renewable Energy Development Agency Ltd (IREDA), the country’s largest lender for renewable energy projects, has incorporated a wholly owned subsidiary in the International Financial Services Centre (IFSC), in GIFT City, Gujarat.

REC gets RBI nod to set up subsidiary in GIFT City

07 May 2024

REC Limited, a Maharatna central public sector enterprise and a leading NBFC providing finance to the power sector, has received a ‘No Objection Certificate’ from the Reserve Bank of India (RBI)

India’s GST revenue crosses Rs2-lakh cr in April 2024

02 May 2024

India’s gross revenue collection by way of Goods and Services Tax (GST) exceeded the Rs2 lakh crore-mark for the first time in April 2024, the opening month of the current fiscal, hitting a record Rs2.10 lakh crore.

IREDA granted `Navratna’ status

29 Apr 2024

State-owned Indian Renewable Energy Development Agency (IREDA) has been granted 'Navratna' status by the Department of Public Enterprises, the company stated in a stock exchange filing on Friday.

India’s FY24 direct tax mop-up exceed revised estimates by Rs13,000 cr

23 Apr 2024

Net direct tax collection in India increased by 17.70 per cent to an estimated Rs19.58 lakh crore in the 2023-24 financial year, compared to Rs16.64 lakh crore in the previous financial year, provisional figures released by the finance ministry show.

RBI delays implementation of currency derivatives trading norms

05 Apr 2024

Reserve Bank of India (RBI) has pushed back the implementation of its directions on currency derivatives trade from 5 April to 3 May 2024

REC commits Rs1.6 lakh crore for infra projects in Rajasthan

13 Mar 2024

REC Limited has signed a memorandum of understanding (MoU) with the government of Rajasthan committing Rs1.6 lakh crore to finance projects across power and other infrastructure sectors.

RBI bars JM Financial from lending against shares

06 Mar 2024

Days after imposing restrictions on online payments banks Paytm and IIFL Finance, Reserve Bank of India (RBI) on Tuesday directed investment banker JM Financial

Gross GST collection in February up 12.5% at Rs1,68,337 crore

05 Mar 2024

Gross revenue collection by way of Goods and Services Tax (GST) increased by 12.5 per cent year-on-year in February 2024 and stood at Rs1,68,337 crore. The increase in GST collection in February was marked by a 13.9 per cent increase in domestic transactions and 8.5 per cent increase in GST from import of goods.

PFRDA notifies amendments to National Pension System Trust and Pension Fund regulations

22 Feb 2024

The Pension Fund Regulatory and Development Authority (PFRDA) has notified the amendments to the regulations governing the National Pension System Trust and the Pension Funds

Net direct tax collection up 20.25% at Rs15.60 lakh crore so far in FY24

12 Feb 2024

Direct tax collection (net of refunds) in the country increased by 20.25 per cent year-on-year to Rs15.60 lakh crore, so far during the current financial year (2023-24) year (up to 10 February 2024),

Finance minister tables white paper on state of Indian economy before and after 2014

10 Feb 2024

Finance minister Nirmala Sitharaman on Thursday tabled a 'white paper on the Indian economy' detailing the state of the economy prior to 2014 and after

India’s GST collection rises 10.4% to Rs1,72,129 cr in January

01 Feb 2024

Gross revenue collected by way of Goods and Services Tax (GST) in January 2024 stood at Rs1,72,129 crore, recording a 10.4 per cent year-o-year growth over the Rs155,922 crore collected in January 2023

REC raises 61.1 billion yen via medium term notes issue

17 Jan 2024

REC Limited has successfully issued its inaugural 61.1 billion Japanese Yen ($41.56 million) 5-year, 5.25-year and 10-year Green bonds, as part of its $10 billion global medium term notes programme.

Thomson Reuters proposes a $627 million acquisition of Sweden's Pagero

11 Jan 2024

Thomson Reuters has officially put forward a proposition to acquire Pagero, a Swedish company specializing in e-invoicing and tax solutions. The offered amount stands at a noteworthy 6.4 billion crowns (Krona), translating to approximately $627 million.

REC, Bank of Baroda join hands to finance power, infrastructure and logistics projects

05 Jan 2024

REC Limited has signed a memorandum of understanding (MoU) with Bank of Baroda to facilitate joint lending to finance power, infrastructure and logistics projects in the country over the next three years.

India's fintech sector faced a 63% funding decline in 2023

04 Jan 2024

Amid the funding winter, India’s fintech sector experienced a significant setback, with a 63% decline in fund inflows throughout 2023, according to a report by Tracxn.

Chennai tax officials issue a Rs. 663 crore GST demand notice to LIC

04 Jan 2024

The Life Insurance Corporation of India (LIC) stated on Wednesday, 3 January 2024, that tax authorities have issued a demand notice amounting to approximately Rs 663.45 crore, citing short payment of Goods and Services Tax (GST).

Monthly GST collection in April-December averages Rs1.66 lakh crore

04 Jan 2024

Revenue collection by way of Goods and Services Tax (GST) for December 2023 stood at Rs,164,882 crore, while gross GST collection for the first nine months of the current financial year

India hikes windfall tax on crude, eliminates tax on diesel and ATF

03 Jan 2024

Government of India on Monday announced an increase in the windfall tax levied on locally-produced crude petroleum while doing away with the tax on diesel and aviation turbine fuel (ATF).

Hindustan Unilever faces Rs 447.5 crore GST demands and penalties

02 Jan 2024

Leading fast-moving consumer goods (FMCG) manufacturer, Hindustan Unilever Ltd. (HUL), disclosed on Monday, 1 January 2024, that it has been served with Goods and Services Tax (GST) demands and penalties totaling Rs. 447.5 crores by the authorities.