The GST Council lowered the compensation cess rate for merchant exporters to 0.1% and reduced the tax on fortified rice kernels to 5%. The ...

I mean that was awaited for a while now, so that has really come about. So, the penal part has been removed which is a very positive thing ...

The GST Council clarified the tax rates for popcorn. Ready-to-eat popcorn with salt and spices will be taxed at 5% if loose and 12% if pre-...

The notice was issued for fees collected from Indian customers trading in virtual digital assets (VDAs) on the platform, categorized under ...

The Reserve Bank of India's directive to levy penalties only in the form of 'penal charges' is posing a tax dilemma for banks. Banks fear t...

Latest gold loan interest rates: Gold loan can be availed for meeting expenses of sudden medical exigency, margin money for home loan and/o...

Mutual fund SIP has become a popular tool for small retail investors to do small regular savings and get the benefit of higher returns from...

the RBI stated that the transition to the new punitive charges regime should occur on or after April 1, 2024, but no later than June 30, 20...

The Reserve Bank of India (RBI) in August had instructing banks not to use penal interest rates as a revenue enhancement tool but rather to...

Lenders argued in a representation to the RBI earlier this month that penal interest rates lead to better credit discipline. They also said...

Currently, the penal amount levied varies within banks and also among NBFCs. The penal charges levied are arbitrary by the bank i.e, each b...

The Council has reportedly been given a suggestion - by the law committee - to consider increasing the monetary threshold for launching pro...

The proposal, part of the exercise to decriminalise GST law, is likely to be taken up in the next meeting of the GST Council. Once approved...

According to the bank, "The objective of this loan is to provide ease to tide over the liquidity mismatch to existing customers." The custo...

The High Court of Rajasthan had directed the GST Department to accept the filing of GSTR-9 and GSTR-9C till February 12, 2020 without late ...

The fringe benefits are transactions in furtherance of business. "Even if supplied without consideration, the same are deemed supply" and w...

Apart from GST rates, there are other issues like input tax credit, penal interest/charges for delayed remittance of EMI and sale of reposs...