New Delhi, July 11 (IANS) The government on Saturday said the Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) Scheme has surpassed sanctioning of loans to more than two lakh micro food processing enterprises.While crossing 2 lakh loan sanctions, the scheme has leveraged project investments of over Rs 20,300 crore, informed Chirag Paswan, Minister for Food Processing Industries.Speaking at an event here to celebrate the historic milestone, the minister said nearly 90 per…
Latest GST News & Updates
New Delhi, July 10 (IANS) The Forum for Internet Retailers, Sellers and Traders (FIRST) — an association of online retailers under the India SME Forum — has approached the Competition Commission of India (CCI) alleging that Flipkart engaged in predatory and discriminatory business practices that distorted competition on its marketplace, according to a report.NDTV Profit reported that according to the complaint, FIRST alleged that Flipkart’s GST avoidance created a pool of nearly Rs 3,000 crore…
Jaipur, July 9 (IANS) Rajasthan Chief Minister Bhajan Lal Sharma on Thursday directed all revenue-generating departments to intensify action against tax and revenue evasion, stressing that revenue collection is the foundation of the state’s development and public welfare. Chairing a high-level review meeting, the Chief Minister instructed officials to maintain consistent momentum in revenue collection throughout the financial year and ensure that annual targets are achieved. He called for strict…
New Delhi, July 9 (IANS) India Inc’s revenue growth accelerated to 11–11.5 per cent year‑on‑year in the Q1 FY27, marking the fastest pace in two years, a new report has said.Strong domestic demand and price hikes offset the impact of higher input costs triggered by the West Asia conflict, helping corporates to maintain strong growth rate, the report from ratings agency Crisil Ratings.Even as supply disruptions in West Asia pushed up fuel, freight, packaging and feedstock costs, the resil…
Raipur, July 8 (IANS) In a significant boost to ease of doing business and tax reforms, the Chhattisgarh Cabinet, chaired by Chief Minister Vishnu Dev Sai, has approved key amendments in GST and VAT laws along with several industry-friendly measures. The cabinet meeting on Tuesday took 11 major decisions aimed at benefiting taxpayers, investors, industries, and common citizens.The Cabinet gave its nod to the Chhattisgarh Goods and Services Tax (Amendment) Bill 2026 to simplify the GST law and ma…
Mumbai, July 8 (IANS) The Securities and Exchange Board of India (SEBI) has notified amendments to the Foreign Portfolio Investors (FPI) Regulations, replacing the US dollar-denominated fee structure with a rupee-denominated payment mechanism for foreign investors and foreign venture capital investors (FVCIs).The changes will come into effect after six months, giving foreign investors and intermediaries adequate time to transition to the new system.According to a notification issued by SEBI, the…
Mumbai, July 5 (IANS) After ending the week on a firm note, India’s benchmark indices are expected to remain on a positive trajectory, with experts saying the Sensex could move towards the 79,000 mark and the Nifty may target 24,600 if they manage to sustain above crucial resistance levels in the coming sessions.In the previous week, the Indian stock market concluded with solid gains, supported by strong domestic macroeconomic indicators and improving investor sentiment.Robust GST collections, b…
New Delhi, July 3 (IANS) The Securities and Exchange Board of India (SEBI) on Friday proposed that foreign portfolio investors (FPIs) and foreign venture capital investors (FVCIs) pay registration and related fees in Indian rupees (INR), replacing the existing system of payments in US dollars (USD), according to board meeting documents.The proposal is aimed at streamlining fee collection, improving accounting efficiency and reducing operational challenges associated with foreign currency transac…
Amaravati, July 2 (IANS) YSR Congress Party leader and former Andhra Pradesh minister Gudivada Amarnath took a potshot at HRD and IT Minister Nara Lokesh over his reaction to the state’s GST growth figures.Reacting to Lokesh’s post following the release of GST numbers on Wednesday, Amarnath said it was heartening to see that, after 40 per cent of the coalition government’s term was over, Lokesh had found reason to comment on the state’s finances.”Now, with the GST numbers for June 2026 being rel…
New Delhi, July 2 (IANS) The latest economic indicators released by the Union government continue to underline the resilience of the Indian economy despite global uncertainties. Strong GDP growth, expanding manufacturing and services activity, record vehicle sales, healthy GST collections and resilient exports indicate that domestic demand and investment remain robust.India’s economy grew by 7.7 per cent in FY 2025-26, reaffirming its position as the world’s fastest-growing major economy.Growth …