CHENNAI/MUMBAI: The GST rate cut is driving MSMEs to seek additional funding from banks for expansion. After the GST rejig, banks have seen a spike in enquiries for advances from the MSMEs. It comes amid lenders having moved closer to their annual targets for the MSME segment in the first half of the current fiscal. […]
New Delhi, GST officers have uncovered a city-based syndicate involved in fraudulently availing ITC (input tax credit) worth Rs 645 crore through a web of 229 bogus GST registered firms, the finance ministry said on Thursday. Directorate General of GST Intelligence (DGGI), Delhi Zonal Unit, conducted coordinated search operations at multiple premises across the city, […]
Hyderabad, Two persons have been arrested for allegedly being part of an inter-state network that created 10 fake GST-registered firms and fraudulently claimed Rs 11.79 crore Input Tax Credit (ITC), the police said on Thursday. According to a release from the Cyberabad Police Commissionerate, the accused used forged documents to register the firms and generate […]
India’s top car makers Maruti Suzuki, Hyundai Motor India and Tata Motors, are gearing up to expand production by 20–40% in the coming months. The ramp up comes after a sharp revival in vehicle demand following the recent Goods and Services Tax (GST) cuts. Maruti Suzuki, the country’s largest carmaker, plans to produce over 200,000 […]
Kolkata: Come Dec, Bengal will have its own GST appellate tribunal, paving the way for faster resolution of tax-related disputes. According to official sources, the tribunal will hear appeals against GST orders passed by adjudicating authorities and commissioners. The move is expected to ease the mounting backlog of cases pending in high courts. Welcoming the […]
Indore: The peak wedding season has brought cheer to Indore’s homegrown garment manufacturers, with production units recording advance enquiries and orders. However, the spike in GST on apparels priced above Rs 2,500 is seen as keeping a lid on the upside. With a high number of marriages lined up in Nov and Dec this year, […]
Coimbatore: Tamil Nadu Traders Federation felicitated Union finance minister Nirmala Sitharaman for the GST 2.0 tax revision and tax reduction measures, at PSG Convention Centre at Neelambur on Tuesday. More than 1,000 traders from across the state participated in the felicitation event. President of Tamil Nadu Traders Federation A M Vikrama Raja expressed gratitude for […]
Demand surge. India’s import dependence in case of edible oils and pulses continues to remain high on growing demand amid changing dietary habits SUSHIL KUMAR VERMA | Photo Credit: Sushil Kumar Verma etail inflation based on the Consumer Price Index (CPI) is expected to dip sharply below 1% in October — possibly as low as […]
According to ICRA, the tractor original equipment manufacturers will maintain their strong credit profiles | Photo Credit: NAGARA GOPAL Tractor sales in October touched the highest ever levels for any month in the last seven years driven by good monsoons and GST rate cut. In October, 1,73,635 tractors were sold as against 1,51,772 in October […]
GST cuts, festive demand spark early revival in vehicle loans India’s vehicle loan growth, which had been slowing through the first half of FY26, is showing signs of revival following the Goods and Services Tax (GST) overhaul in late September. After months of tepid expansion, banks are witnessing renewed traction in car and two-wheeler financing, […]
