BUSINESS
Vivo may also face I-T probe as SFIO flags profit diversion, findings to be shared with CBDT
The development comes as SFIO prepares to file its chargesheet against Vivo in a suspected diversion of more than Rs 2,000 crore
BUSINESS
Experts flag ambiguity risks in classification and capacity-based cess under tobacco, pan masala duty framework
Revised excise schedules and Health Security se National Security Cess Bill, 2025 could raise classification, valuation, and compliance challenges, say experts
BUSINESS
Cigarettes ‘must not become affordable’, says FM as Centre restores excise duty after GST cess sunset
Move aims to prevent fall in tax burden as GST law caps peak rate at 40 percent
COMPANIES
SFIO set to charge Chinese handset maker Vivo in fund diversion case this month
According to officials, the wider probe into Vivo, Oppo and Xiaomi has uncovered suspected fraud of over Rs 6,000 crore, signalling major compliance issues at the three Chinese smartphone brands.
BUSINESS
Nirmala Sitharaman flags digitalisation tax challenges, pitches for global effort
Tax transparency must be seen as more than a compliance measure, the finance minister has said, describing it as 'foundation of sustainable development and fiscal resilience'
BUSINESS
Textiles, two-wheelers see consumption dip after GST 2.0 reforms
Gross domestic GST revenue sees negative growth of 2.3%, gross import revenue rises over 10%
BUSINESS
Govt likely to draw up mega PSB merger plan to trim state-owned banks to 4 in FY27
Other mid-sized banks – including Indian Overseas Bank (IOB), Central Bank of India (CBI), Bank of India (BOI) and Bank of Maharashtra (BoM) – are expected to be absorbed by SBI, PNB or BoB.
BUSINESS
India’s Q3 GDP to be released in new base year; Q1, Q2 will be revised: MOSPI Secretary
The decision to release Q1 and Q2 estimates in the new series is intended to smooth the transition and provide a coherent framework for analysis.
BUSINESS
Indian CEOs, exporters set to meet Russian delegation during Putin’s Delhi visit
The engagement could take the form of a roadshow or an exhibition featuring select exporters on December 4, and the next day will include meetings between 75 Indian business leaders and a similar number of Russian executives, sources say.
BUSINESS
CBDT flags 25,000 high-risk foreign asset cases; second ‘nudge’ campaign begins
SMS and email advisories to be sent from November 28 as CBDT strengthens voluntary compliance with foreign asset disclosure rules
BUSINESS
Govt developing unified portal for unclaimed financial assets; Rs 1,887 crore already returned
The platform, which will be coordinated by the Reserve Bank of India (RBI), aims to consolidate scattered databases maintained by different regulators into one searchable interface
BUSINESS
Gold, silver mutual funds’ AUM crosses Rs 1 lakh crore, AMFI CEO Venkat Chalasani says investors seeking diversification
Recent research and market reports indicate that industrial demand for silver is expected to grow faster than the supply that will enter the market, creating an anticipated demand–supply gap.
BUSINESS
SEBI mulls unbundling broker fees; MF, broking industry flag risk to research universe
SEBI Board to discuss overhaul of Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 and Securities and Exchange Board of India (Stock Brokers) Regulations, 1992 at December 17 meeting, including proposal to unbundle broking fees.
BUSINESS
Sebi moves to widen REIT market access with early-stage project inclusion, eyes route for index entry
With REITs already classified as equity for mutual funds, the regulator is now working on rules for limited exposure to under-construction projects and preparing conditions for possible index inclusion
BUSINESS
FinMin pushes welfare ministries to accelerate capex to improve quality of spending
Despite overall capex utilisation reaching 51.8 percent by end-September, the Centre has asked ministries such as Social Justice, Minority Affairs and Labour & Employment to accelerate spending in the second half, after their H1 utilisation remained at 35–40 percent.
BUSINESS
Hindustan Aeronautics to begin delivery of 8 Tejas Mk1A jets in next 24–36 months
The HAL–GE agreement signed on November 7 will see a slow initial rollout, with production accelerating from 2029.
BUSINESS
Centre likely to repeal Excise Act, 1944, in Budget
A new law is likely to replace the Central Excise Act, 1944, introducing a modern framework aligned with GST-style processes for six product categories, including crude petroleum, motor spirit (petrol), high-speed diesel, aviation turbine fuel (ATF), natural gas, and tobacco and tobacco products.
BUSINESS
CBDT scrutinising wrongful I-T refunds; assessment to be completed by December, says Chairman
CBDT chief says the department is on track to meet the Budgeted direct tax target of Rs 25.2 lakh crore for FY26.
BUSINESS
Centre may soon clear NHAI’s public InvIT plan to speed up highway monetization
Sources familiar with the matter said the government views a public InvIT as a critical tool to broaden market participation, reduce dependence on budgetary support and strengthen NHAI’s ability to recycle capital.
BUSINESS
CBDT seeks clarifications from MeitY on proposed tax incentives for data centres
'Tax policy must clearly define who qualifies for an exemption. We cannot have a situation where any company with a few servers claims to be a data centre. The definition has to be precise and backed by clear conditions'
BUSINESS
Online prices show 7-10% correction after GST rate cuts: QuantEco Report
These movements as part of an ongoing price discovery process in the post-GST environment.
BUSINESS
MSMEs seek Covid-era relief to beat Trump tariffs in pre-Budget meet with FM Sitharaman
They also urged to make it compulsory for all loans below Rs 50 lakh or Rs 1 crore to be covered under the collateral-free guarantee mechanism for MSMEs.
BUSINESS
Govt confident of meeting FY26 direct tax target despite likely STT shortfall
STT has seen slower growth this year as investor sentiment turned cautious amid market corrections in September and October.
BUSINESS
Security tightened at government buildings, ministries in Delhi after blast near Red Fort
Union Home Minister Amit Shah will chair a high-level security review meeting on November 11.
