Nayara Energy, India’s second-largest private oil refiner, is facing a second consecutive month of difficulty in securing non-Russian crude supplies as western shipping companies continue to refuse transportation of cargoes, according to ship tracking data cited by news agency PTI.Part-owned by Russia’s Rosneft PJSC, which holds a 49.13 per cent stake, Nayara has reduced operations […]
Markets this week: Fed policy outcome, US–India trade talks to guide sentiment; inflation, FII flows in focus
Equity markets will closely follow the outcome of the US Federal Reserve policy meeting this week amid heightened expectations of an interest rate cut, along with wholesale price inflation data, analysts said.Any further developments on the US–India trade front will also be a critical driver of trends, as per news agency PTI.“Looking ahead, the key […]
GST has to be paid on discounted price: CBIC
NEW DELHI: The Central Board of Indirect Taxes and Customs issued much-awaited clarifications to address problems faced by businesses when companies offer discounts to sellers. The move follows a discussion in this regard at the last all-important meeting of the GST Council, where GST rates were reduced.Very often dealers are offered discounts to push products […]
DFS secy urges PSBs to boost global competitiveness and governance
NEW DELHI: Public sector banks need to aspire to global competitiveness, strengthen governance and operational resilience, and expand their role as sectoral champions across both traditional and emerging industries, a top official told the two-day brainstorming session of state run banks. M Nagaraju, secretary department of financial services, underlined that public sector banks have moved […]
‘Erratic behaviour’: Ex-US NSA John Bolton slams Trump’s India tariffs; rejects claim of brokering India-Pak peace
John Bolton with Donald Trump (File photo) NEW DELHI: Former US National Security Advisor John Bolton has criticised President Donald Trump’s tariff policy on India, calling it “inappropriate” and an example of Trump’s erratic behaviour. He warned that such measures could strain ties between Washington and New Delhi. Bolton also criticised US President for repeatedly […]
ITR filing deadline: Over 6 crore returns submitted so far; September 15 deadline looms for taxpayers | Financial Literacy News
The Income Tax Department has received more than six crore income tax returns (ITRs) for assessment year 2025-26, it said on Saturday.“Thank you taxpayers & tax professionals for helping us reach the milestone of 6 crore Income Tax Returns (ITRs) as of now and still counting,” the department posted on X.The deadline to file returns […]
Self-reliance gains: Vocal for local push trims import bills for top firms; PLI schemes, duty hikes drive shift
India’s push for self-reliance in manufacturing is beginning to show results, with several consumer-facing companies cutting back sharply on their dependence on imports. As per ET, a study of 20 listed firms in automobiles, electronics and FMCG found that foreign exchange outflows as a share of sales have dropped significantly between FY20 and FY25, mainly […]
Global ambition: India aims to place two PSBs among top 20 banks; ‘Viksit Bharat 2047’ drives long-term vision
India plans to develop at least two public sector banks (PSBs) that can rank among the top 20 global lenders by assets as part of its long-term ‘Viksit Bharat 2047’ vision, a senior government official said during the ongoing PSB Manthan 2025, as per news agency PTI. Currently, only State Bank of India (SBI) and […]
Retail relief ahead: Bank of Baroda report sees CPI easing to 3.1% in FY26; GST cuts to soften prices further
Representative image (Picture credit: ANI) Prices of daily essentials may ease further in the coming months as recent cuts in GST begin to reflect in actual numbers, Bank of Baroda (BoB) said in its latest report. According to news agency ANI, the bank projects retail inflation, measured by the Consumer Price Index (CPI), to average […]
GST revamp: Goods and services tax not applicable on these post-sale discounts; here is what experts say
The Central Board of Indirect Taxes and Customs (CBIC) clarified that post-sale discounts offered by manufacturers to dealers, aimed purely at competitive pricing and driving sales, will not attract Goods and Services Tax (GST).In a circular, the board further explained that GST would, however, apply if such discounts are linked to specific promotional services carried […]