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RUPEE DENOMINATED EXCISE LEVY
NRE vs NRO: One account can make your interest tax-free, the other can attract over 30% TDSNRIs and OCIs can use NRE accounts for overseas income and NRO accounts for India-sourced income, but tax treatment differs sharply. NRE in...- Bandhan Bank increases FCNR(B) deposit rates to 7.1 pc after RBI forex swap moveBandhan Bank has raised interest rates on Foreign Currency Non-Resident Bank deposits for non-resident Indian customers. US dollar deposits...
- Yuan or Dollar? Indian businesses explore alternatives as import costs climbIndian businesses, particularly MSMEs, are hesitant to adopt yuan-denominated settlements despite a weakening rupee. They prioritise locali...
- Assam and Arunachal Pradesh strengthen cooperation in excise administrationArunachal Pradesh and Assam held a ministerial meeting in Itanagar. Discussions focused on excise administration and enhancing inter-state ...
- Tamil Nadu's excise revenue lags behind Karnataka, Maharashtra: GovtTamil Nadu's excise duty collections significantly lag behind Karnataka and Maharashtra, showing the lowest absolute collection and slowest...
- India, Sri Lanka collaborate to strengthen trade interactions through local currency settlement initiativesIndia and Sri Lanka are exploring ways to settle trade using their own currencies. This move aims to cut transaction costs and shield busin...
- India, UAE step up efforts to expand rupee-dirham tradeOver 15% of India-UAE trade has been invoiced in local currencies since the rupee-dirham mechanism launched nearly three years ago. Both na...
- Pakistan sees room to improve FY27 outlook after Iran war ends, says Finance Minister AurangzebPakistan's Finance Minister Muhammad Aurangzeb sees potential economic upsides for fiscal year 2027 following the end of the Iran conflict....
- Petrol, Diesel prices today (June 16, 2026): Fuel rates remain unchanged across major Indian citiesFuel prices held steady on June 16, 2026, providing relief after recent hikes. Global oil prices saw a rebound due to supply concerns and g...
- India will do more to boost inflows: Finance Minister Nirmala SitharamanIndia plans further measures to attract foreign capital. Finance Minister Nirmala Sitharaman stated that additional steps will be taken if ...
- India hikes diesel, ATF export levies from June 16India has increased the windfall tax on diesel and aviation fuel exports. The special additional excise duty on diesel exports will now be ...
- Residents tempted to gatecrash FCNR party for NRIsWealthy Indians are finding ways to benefit from a new foreign currency deposit scheme. They are sending money to NRI relatives as gifts to...
- WB liquor retailers allege Rs 300 crore collected as unauthorised transport charges, seek probeWest Bengal liquor traders claim over Rs 300 crore was collected from them between 2022 and 2025. They allege these are unauthorized transp...
- Assam brings in MGR for liquor licences; prices likely to rise from July 1Assam's excise laws have been amended. A new provision, Minimum Guaranteed Revenue, will be introduced for liquor license holders. This wil...
- EU to make it harder to suspend carbon fee on importsEU economy ministers have agreed to restrict the suspension of the bloc's carbon emissions fee on imports, aiming to boost certainty for lo...
- Revised common application form for FPIs notifiedThe government has notified a revised common application form for foreign portfolio investors (FPIs) to streamline registration and account...
- Pakistan budget raises defence spending, squeezes development to meet IMF goalsFinance Minister Muhammad Aurangzeb told parliament the government would allocate 3 trillion rupees for defence in the fiscal year starting...
- India waives excise duty on petrol with higher ethanolIndia's government is giving consumers a break by waiving excise duty on petrol. This move is tied to the increased use of ethanol blended ...
- ATMs hungry, but not for more cashMany Indians face empty ATMs despite ample cash in circulation. This is due to serious disruptions in cash movement. UPI's rapid rise and i...
- Marcellus launches global equities fund in GIFT City, targets AI, defence and luxury themesMarcellus Investment Managers has launched a global equities fund through GIFT City, offering Indian investors access to overseas stocks. T...
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