Author: TI Editor

New Delhi, Mar 9 (PTI) The Federation of Hotel & Restaurant Associations of India (FHRAI) on Sunday pitched for delinking the GST on food & beverage services from accommodation charges in hotels. Citing multiple representations made to the authorities, FHRAI emphasized that the current practice of linking F&B taxation to hotel room tariffs is both unfair and operationally challenging for the hospitality industry. Under the prevailing GST framework, restaurants within hotels charging ₹7,500 or more per room per day are subject to 18 per cent GST on F&B services with input tax credit (ITC) benefits, while those in hotels with…

New Delhi, Mar 9 (PTI) The European Union’s (EU) aggressive environmental regulations, particularly the carbon tax, deforestation rules, and supply chain due diligence laws are one of the biggest hurdles in the negotiations for a proposed trade pact with India, economic think tank GTRI said on Sunday. It said that these regulations could impose additional costs on Indian exports. Under the Carbon Border Adjustment Mechanism (CBAM), Indian exports of steel, aluminum, and cement to the EU could face tariffs of 20-35 per cent, even if an FTA is signed, the Global Trade Research Initiative (GTRI) said in its report. This…

With financial year 2024-25 soon coming to an end, only three weeks are remaining before the taxpayers can invest in the tax-saving instruments such as PPF, NSC, KVP, SSY and SCSS.  Taxpayers who wish to claim income tax deduction must invest in these instruments before March 31.Where can taxpayers invest to claim income tax deduction as they file tax return in July 2025?They can invest in the tax-saving instruments mentioned under section 80C, 80CCC and 80CCD(1).Which are the saving instruments one can invest into?Under section 80C, one can invest in small savings schemes such as NSC, Public Provident Fund (PPF),…

(Bloomberg) — As Europe makes defense the bloc’s No. 1 priority, it’s bumping up against its own bankers. Defense industry executives, politicians and senior bankers alike are now calling for an urgent revamp of regulations and internal processes to make it easier for banks to quickly channel funds into arms manufacturers and military contractors.  “Many defense firms have had trouble with simple things like getting a bank account,” said Florian Seibel, the co-founder of Quantum Systems, a maker of surveillance drones that operates in Ukraine. “At a working level the bank staff will say ‘of course we should finance this…

New Delhi [India], March 9 (ANI): Sources in the Central Board of Direct Taxes (CBDT) have sought to clear the air after some concerns were raised that Income Tax authorities have been given additional powers in the Income Tax Bill 2025 to gain overriding access to the electronic records including email, social media, and virtual digital space. Sources in the Central Board of Direct Taxes (CBDT) explained that Section 132 of Income Tax Act, 1961 enables authorised officer to require any person who is found in possession of books, accounts, or other documents in the form of electronic record to…

New Delhi, ONGC PetroAdditions Ltd, a subsidiary of the state-owned Oil and Natural Gas Corporation , has relinquished its ‘only-for-export’ unit status as it aims to tap into the booming local petrochemical market to drive a turnaround. In a stock exchange filing, ONGC said OPaL has received the final approval for its exit from the Dahej Special Economic Zone . “Accordingly, OPaL shall operate as a Domestic Tariff Area unit with effect from March 8, 2025,” ONGC said. “Further, this exit from SEZ will improve the competitiveness of OPaL for supplies to be made to the DTA”. This essentially means…

Mutual fund calculator: The market’s ups and downs can feel like a rollercoaster, but seasoned investors know that true wealth is built through patience and consistency. Imagine watching a seed grow into a mighty tree. That’s the magic of compounding in mutual funds. After navigating the recent market dips, it’s time to understand the power of staying invested. By consistently contributing through SIPs, even small amounts like ₹500 a month, you’re not just investing money but planting seeds for future wealth. And for those with dreams of early retirement, we’ll illustrate how starting early, leveraging SIPs, and understanding step-ups’ power…

New Delhi, Mar 9 (PTI) The US health regulator has pulled up Granules India for failing to maintain buildings for drug storage and avoiding adequate procedures regarding cleaning and maintenance of equipment at its Telangana-based formulations plant. In a warning letter to the company’s Chairman and Managing Director Krishna Prasad Chigurupati, the US Food and Drug Administration (USFDA) stated that the company failed to establish and follow adequate written procedures for maintaining equipment at the Medchal-Malkajgiri-based manufacturing facility. The USFDA inspected the facility from August 26 to September 6, 2024. “Our investigators observed significant contamination in multiple ducts of non-dedicated…

New Delhi [India], March 9 (ANI): Despite the aggressive expansion of quick commerce businesses in India, given that people are increasingly opting to shop through the emerging online platforms, brick-and-mortar retail remains a robust channel in the tier 2 and tier 2 cities, as per a report by global consulting firm PwC. The PwC report argued that independent retailers’ strong sense of service and engagement with their loyal consumer base supported this robustness in physical stores. While several striking findings emerged in the survey, one that caught PwC’s attention was the continued success of brick-and-mortar retail in tier 2 and…

Elon Musk’s Tesla facilities have been the target of violent attacks following the billionaire’s role in Donald Trump’s Department of Government Efficiency (DOGE), which aims to drastically cut federal spending. Protesters have also been angered by a Nazi salute-like sign Musk made on the same day Trump took office.According to a report in the Washington Post, there have been more than a dozen violent or destructive attacks on Tesla facilities since Trump’s inauguration.In one incident, a woman named Lucy Grace Nelson made several attempts to cause serious harm at the Tesla car lot in Loveland, Colorado. Over the course of…