India’s goods exports decreased for the third consecutive month, registering $36.43 billion in January and widening the trade deficit to $22.99 billion. Despite this decline, sectors like electronics, engineering goods, and pharmaceuticals showed growth. Imports, particularly gold, increased significantly, contributing to the rising trade deficit. India’s goods exports shrank for the third straight month to […]
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Bank Transactions Rules: The Government is keeping a close watch on high-value transactions with the help of data analytics and various agencies to prevent tax evasion. If a person is transacting large amounts in his bank accounts, investments or property purchases but is not fulfilling his income tax liability properly, then he is more likely […]
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India may implement a temporary 15%-25% tax on Chinese steel imports within six months to protect domestic manufacturers from cheap imports. The investigation to safeguard duties began in December and could last up to two years, aiming to ensure fair competition amidst rising imports from China. India could impose a temporary tax of 15%-25% on […]
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Barely a month after the Reserve Bank of India (RBI) warned of a contagion, lenders, especially non-bank financiers, have also started witnessing stress in their collateral-backed secured loan books. Early signs of stress are visible in micro-loans against property (micro-LAP), and lending for two-wheelers and some other vehicle categories, according to experts. It is more […]
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The Union Budget 2025-26, announced by Finance Minister, Nirmala Sitharaman on February 1, 2025, introduced a host of measures aimed at supporting India Inc., with an emphasis on tax reforms, export promotion and ease of doing business being paramount. A revision in MSME classification, steps to boost India’s share in global trade and improving the […]
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The Central Board of Indirect Taxes and Customs (CBIC) has issued Instruction No. 02/2025-GST, clarifying the procedure for handling Departmental appeals related solely to interest and penalties under Section 128A of the Central Goods and Services Tax (CGST) Act, 2017. Kind attention is invited to the Section 128A of the Central Goods and Service Tax […]
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For Indian manufacturers, tie-ups with Chinese firms are crucial at this stage to develop a resilient world-class supply chain before striking out on their own, S Krishnan has said. India must substantially increase electronics exports to remain competitive in the global value chain, as domestic production alone won’t be enough, S Krishnan, secretary of the […]
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The Ministry of Micro, Small, and Medium Enterprises (MoMSME) has launched the MSME Trade Enablement and Marketing (TEAM) Initiative, a groundbreaking effort aimed at enhancing the digital presence of small businesses across India. With a budget of ₹277.35 crores allocated over three years, the initiative seeks to onboard 5 lakhs micro and small enterprises, with a special focus on women-led businesses. This initiative is […]
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Running a business, like waging a war, goes exactly as planned right until the moment you start. The main thing to remember is that small business owners will face numerous unexpected challenges in their first two years of operation, testing their resilience, adaptability and determination. The challenges will continue, of course, but by then reacting […]
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The Delhi High Court has ruled that a Corporate Debtor that has undergone a successful resolution process under Section 31 of the Insolvency and Bankruptcy Code, 2016 (IBC), cannot be prosecuted for offences committed prior to the commencement of the Corporate Insolvency Resolution Process (CIRP). The Single Bench of Justice Manmeet Pritam Singh Arora made […]
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