Search

Goods on India GST Exempted List May Qualify for Lower Tax Rate

Jul. 2 – India may allow lower tax rates for goods taken out of the tax exemption list when the new Goods and Services Tax (GST) is implemented next year. The tax exemption list currently names 350 goods. Goods taken out of the list will be considered to be the same level as essential goods, […]

India GST Rate Favored at 16 Percent

Feb. 9 – India’s Finance Ministry is considering a rate of 16 percent for the proposed Goods and Services Tax (GST) for both Center and states combined on companies and traders with annual turnover of US$21,609 and above. The new tax will help simplify goods production by setting one tax structure instead of India’s current […]

GST in India Implementation Delayed

Jan. 8 – The set April 1 deadline for the introduction of the new Goods and Services Tax (GST) is likely to be rescheduled government officials said yesterday. The mechanism for revenue sharing between the central government and the states have not been finalized yet in addition to the need for constitutional amendments for the […]

Orissa State Wants GST Deferred to 2011

Jan. 7 – The east coast state of Orissa has requested that the Goods and Services Tax (GST) set to be implemented in April 1 be deferred to April 1,2011 and its Purchase Tax on foodgrain continued instead. Local officials say the state is not ready to adopt the new GST. “We are not at […]

P.M.’s Advisory Committee Wants One Rate Each for Goods, Services Under New GST

Dec. 21 – The Indian Prime Minister’s Economic Advisory Committee favors a single tax rate each for goods and services or one common rate for both under the proposed goods and services tax (GST), according to the committee’s chairman. “The Centre could follow the pattern in which there is only one rate for goods and […]

Indian Imports to Attract GST from Next Year

Oct. 9 – Imports into India will attract goods and services tax (GST) under the new tax regime to be ushered in from next year. The Empowered Committee of State Finance Ministers has endorsed in principle the levy of GST on imports and mandated a Joint Working Group to prepare a report in four weeks […]

EU Investment in India Highest Amongst BRIC Countries

May 20 – The flow of European cash into Indian firms surged more than fourfold last year, jumping to 10.9 billion euros (US$17.0 billion) last year, up from US$2.5 billion in 2006, Eurostat told AFP. Among the BRIC (Brazil, Russia, India, China) countries, India emerged as the largest source of foreign direct investment for the European Union in 2007, thanks to high value takeover deals like Tata-Corus.

Meanwhile, the flow of EU foreign direct investment (FDI) into China — excluding Hong Kong — slumped last year to 1.8 billion euros from 6.0 billion euros in 2006 despite intense media interest in the country as an emerging Asian economic power.

New Financial Rules in India Effective July 1, 2025: What Businesses Need to Know

India is introducing key financial rules from July 1, 2025, including mandatory Aadhaar for new PAN cards, stricter GST return rules, and an extended ITR filing deadline. Learn how these updates can affect businesses and taxpayers.