New Delhi, Jan 31 (IANS) From February 1, the government is bringing a new tax structure for cigarettes, tobacco products and pan masala, aiming to tighten regulation and keep tax levels high on these so-called ‘sin goods’.An additional excise duty will now be charged on cigarettes and tobacco products, along with a new health and national security cess on pan masala.These new levies will replace the earlier system under which these products were taxed at 28 per cent GST along with a compens…
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New Delhi, Jan 22 (IANS) The Union Budget 2026 will maintain fiscal prudence and prioritise strategic, capex‑heavy sectors — making defence sector the top beneficiary, a report said on Thursday.The report from investing platform smallcase said that nearly 40 per cent of respondents flagged defence sector for higher allocations driven by indigenisation, modernisation, export potential and sustained government spending.A pre‑budget survey of over 50 investment managers found that infrastructu…
New Delhi, Jan 7 (IANS) India’s tax collections could surge in FY27, with gross tax buoyancy rising to 1.1 from a projected 0.64 in FY26, a report said on Wednesday.The report from HDFC Bank said that nominal GDP growth is expected at about 10.1 per cent in FY27 after an estimated 8.5 per cent in FY26. It said that capital expenditure is expected to grow by 10.5 per cent to about Rs 11.5–12 lakh crore while revenue expenditure may rise 9.5 per cent to Rs 41.9 lakh crore.The government’s fiscal…
New Delhi, Jan 1 (IANS) India’s GST (goods and services tax) collection recorded a 6.1 per cent increase to Rs 1,74,550 crore in December 2025 compared to Rs 1,64,556 crore the same month of the previous year, reflecting the increase in economic activity during the month, official figures released on Thursday showed.Central GST collections rose to Rs 34,289 crore, state GST collections to Rs 41,368 crore, and integrated GST collections to Rs 98,894 crore.The government raised Rs 4,551 crore vi…
New Delhi, Dec 26 (IANS) Pakistan has become chronically dependent on bailouts from the International Monetary Fund (IMF) as it has been plunging from one fiscal crisis into another over the years. It is, however, ironic that the country been getting these loans despite Islamabad’s failure to meet the IMF conditions to revive the economy.Pakistan is now headed for its 25th IMF loan with the latest $7 billion Extended Fund Facility (EFF), stretched over 37 months, and the accompanying $1.4 bill…
Taxation on rental income in India for NRIs can be a complex subject—but understanding it is crucial for compliance and…