(FE) The Government is not considering any plan to reduce taxes on cryptocurrency transactions. In a written reply to a query in the Rajya Sabha on whether the Government wants to exempt cryptocurrency transactions from taxes, Minister of State for Finance Pankaj Chaudhary said, “There is no such proposal under consideration.” In Budget 2022, the Government has announced a flat 30% tax on income from cryptocurrencies and also 1% TDS on crypto transactions. Chaudhary said that in order to deter risky crypto transactions the Reserve Bank of India (RBI) has been cautioning users, holders and traders that “dealing in VCs is…
Author: Aruna Sharma
(FE) State-run NTPC and Indian Oil (IOC) signed an agreement to set up a 50:50 joint venture (JV) company that will meet the power requirements of IOC’s upcoming refinery projects. “Going forward, NTPC Green Energy (NGEL), a wholly owned subsidiary of NTPC, will form the JV company for supply of RE-RTC (renewable energy – round-the-clock) power to IOC. NGEL will be an umbrella company for consolidating NTPC’s total renewable energy businesses,” NTPC said in a statement. IOC plans to meet additional power requirement of its refineries using round-the-clock renewable energy to the tune of 650MW by the end of 2024 through…
(PTI) Solar energy, infrastructure, military cooperation and startup ecosystem are four critical areas where India can be a valuable partner to African nations, Commerce and Industry Piyush Goyal. The trade between India and African countries has been pretty balanced with exports of trade and services of about USD 40 billion and imports of USD 49 billion, Goyal said while speaking at the inauguration of 17th CII-Exim Bank conclave here. “And we would like to continue this engagement and partnership where both African nations and India support each other in an endeavour to support each other’s economic growth. “India gives 27 Less…
(ET) Russia has defaulted on the supply of at least 5 cargoes or shiploads of LNG to India after its retaliatory sanctions hit one of the companies that supply gas to India, sources said. India’s largest gas firm GAIL has a long-term deal to import 2.85 million tonnes of liquefied natural gas (LNG) per annum from a Singapore-based unit of Russian gas producer Gazprom. The company has since June defaulted on the supply of 5 cargoes of LNG under that contract citing difficulty in sourcing gas due to sanctions, two sources briefed on the matter said. While the contract provides for making…
(Hindustan) मुख्यमंत्री योगी आदित्यनाथ ने कल अपने मंत्रियों से कहा कि वे अपने राज्य मंत्रियों के साथ पूरा तालमेल रखें। सरकारी बैठकों में राज्य मंत्रियों को भी शामिल करें। भ्रष्टाचार, अनियमितता की एक भी घटना बर्दाश्त नहीं है। निर्णय मेरिट के आधार पर लें। जल्दबाजी में कोई निर्णय न लें। विपक्षी दलों को भी अहमियत देने पर जोर देते हुए मुख्यमंत्री ने कहा कि हम एक लोकतांत्रिक व्यवस्था में रहते हैं। मंडलीय भ्रमण के दौरान हमें विपक्षी दलों के जनप्रतिनिधियों से संवाद कर सुझाव लेना चाहिए। सीएम योगी की ये सीख तब सामने आई है जब उनके दो मंत्री नाराज बताये जा…
(ET) The Centre has reduced windfall tax and exports levy after the oil prices have softened in the international market. The decision was taken after a review on Monday, officials said. The Centre reduced the windfall tax on domestically produced crude to Rs 17,000 a tonne and also cut levy on exports on diesel by Rs 2 and aviation-fuel exports would be cut by 2 rupees a litre. It also exempted special additional excise duty levied on exports, when done from the special economic zone. “Central Government, on being satisfied that it is necessary in the public interest so to do, hereby…
(FE) The electrification for commercial vehicles travelling long-distance may have begin on a very slow start globally given the huge challenges of the size of batteries, charging infrastructure and long charging time among others. But on the other hand, despite having a slow initial start, India is aiming to take a lead in driving adoption of electric vehicles, especially in the two-, three-wheelers and e-buses for public transportation. In what may come as a very interesting update, the joint venture between Indian Oil Corporation (IOCL) and Israel’s Phinergy, which aimed to manufacture aluminium-air batteries in India, will start its maiden pilot…
(News18) सीएम योगी आदित्यनाथ ने आज प्रदेश के 80 हजार सस्ते राशन विक्रेताओं को बड़ी सौगात दी है। उन्होंने गोरखपुर में आयोजित कार्यक्रम में कोटेदारों का कमीशन 70 रुपये प्रति क्विंटल से बढ़ाकर 90 रुपये प्रति क्विंटल करने का बड़ा एलान किया है। इसके के साथ ही साथ 80 हजार राशन की दुकानों पर कॉमन सर्विस सेंटर शुरू करने का भी प्रदेश वासियों को तोहफा दिया है. सस्ते राशन की दुकानों पर सीएससी सेवा शुरू होने से सीधे तौर पर जहां आम लोगों को फायदा होगा. वहीं सस्ते राशन विक्रेता भी इससे आर्थिक तौर पर मजबूत होंगे. इस योजना के…
(ET) The state-run REC Ltd has suggested the government consider selling Power Finance Corporation’s (PFC) stake in the company to Power Grid Corp of India (PGCIL). In a presentation made to the power ministry in the last week of June, REC suggested a non-banking public sector company acquire PFC’s stake in the company. The meeting, chaired by power and renewable energy minister RK Singh, discussed the option of PGCIL acquiring PFC’s stake in REC. The power ministry has asked REC to submit a proposal, a top bureaucrat told.
(ET) Get ready to pay goods and services tax (GST) on a host of pre-packaged food items that were hitherto exempt from Monday. The Central Board of Indirect Taxes and Customs on Thursday notified the decision of the GST Council on ending tax exemption for products including pre-packaged, pre-labelled curd, lassi and butter milk. Such retail packs will attract GST at a rate of 5% from July 18. Also 18% GST will be imposed on the fee charged by banks for the issue of cheques from Monday. Hospital room rents (excluding ICU) exceeding ₹5,000 per day per patient will also be taxed. Consumers…