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New Delhi, Sep 12 (PTI) The Enforcement Directorate (ED) on Friday said its preliminary probe into a multi-crore pan-India alleged fake input tax credit (ITC) fraud has found that "big MNCs" were benefiting from these illegal transactions. The Itanagar (Arunachal Pradesh) office of the federal probe agency carried out searches in this case on Thursday and covered about 10 premises in the northeastern state apart from Delhi, Haryana, Tamil Nadu and Telangana. The raids were undertaken in connec ...Read More >
New Delhi, Sep 12 (PTI) The Enforcement Directorate (ED) on Friday said its preliminary probe into a multi-crore pan-India alleged fake input tax credit (ITC) fraud has found that "big MNCs" were benefiting from these illegal transactions. The Itanagar (Arunachal Pradesh) office of the federal probe agency carried out searches in this case on Thursday and covered about 10 premises in the northeastern state apart from Delhi, Haryana, Tamil Nadu and Telangana. The raids were undertaken in connec ...Read More >
New Delhi, Sep 12 (PTI) Union Minister Nitin Gadkari on Friday said the Centre and states could earn up to Rs 40,000 crore in Goods and Services Tax if all 97 lakh unfit and polluting vehicles are scrapped. Addressing ACMA Annual Session 2025, Gadkari further said up to August this year, 3 lakh unfit and polluting vehicles have been scrapped, out of which 1.41 lakh were government vehicles. "According to our estimate, there are 97 lakh (unfit and polluting) vehicles, which we need to scrap...7 ...Read More >
New Delhi: Industry leaders welcomed the recently announced GST reforms, which reduce the number of tax slabs, stating that it will make tax compliance easier while also directly benefiting consumers through lower prices. Jharkhand Chamber of Commerce Joint Secretary Navjot Alang Rubal said that the reduction of the number of slabs from four to two under the new GST structure is a highly positive step. According to Rubal, this reform will greatly benefit the middle and lower-income groups as t ...Read More >
New Delhi, Sep 5 (PTI) Tata Motors on Friday said it will cut passenger vehicle prices ranging between Rs 75,000 and Rs 1.45 lakh effective September 22 to pass on the full benefit of GST reduction to customers. The Mumbai-based auto major said that its small car Tiago will see a price drop of Rs 75,000, Tigor Rs 80,000, and Altroz Rs 1.10 lakh. Similarly, the price of compact SUV Punch will come down by Rs 85,000 and that of Nexon by Rs 1.55 lakh. Mid-sized model Curvv would also see a price ...Read More >
Mumbai (Maharashtra) [India], September 3: Zaggle Prepaid Ocean Services Limited (Zaggle), India's leading spend management company announced a partnership with Standard Chartered Bank. Under the partnership, Zaggle will introduce its innovative prepaid card solutions designed to help Standard Chartered's corporate customers to seamlessly manage expenses and enhance control over corporate spending and therefore offer greater convenience to their employees. The prepaid card offering will cater to ...Read More >
India's outlook remains robust. The country recorded 8 per cent steel demand growth in 2024 and is expected to grow more than 7 per cent in 2025. India is expected to emerge as a major growth centre for global steel demand over the coming decades, even as China's dominance wanes. China, which accounted for 49 per cent of world steel consumption in 2024, is projected to see demand fall by an average of five to seven million tonnes (Mt) annually over the next decade. China's share of global dema ...Read More >
NEW DELHI: Minister of Electronics and IT Ashwini Vaishnaw on Tuesday said that construction of five semiconductor units is currently progressing at a rapid pace. The minister, while speaking at Semicon India 2025, also mentioned that the pilot line of one unit is complete and the first Made in India chip was presented to the Prime Minister at the event. The minister also presented the first test chips from four sanctioned projects to Prime Minister Narendra Modi. The Vikram chip, developed by ...Read More >
Bhopal: Ahead of the Supreme Court hearing from September 23, an all-party meeting was hosted by Madhya Pradesh Chief Minister Mohan Yadav on Thursday at his official residence, where a formal resolution to ensure the full 27% reservation for Other Backward Classes (OBCs) has been unanimously adopted, marking a decisive shift in the state's legal and administrative posture. Backed by all major parties, the resolution affirms that the remaining 13% of the quota, on top of the 14% already impleme ...Read More >
New Delhi, August 28: Nissan stopped the production of its R35 GT-R model globally 18 years. The Nissan R35 GT-R 'Godzilla' was a high-performance sports car made by the Japanese automaker. Despite Nissan Motor ending the production of the units, it is said that the name would return in the future. Nissan R35 GT-R 'Godzilla' had around 48,000 units made during its long-running production course, and with just a team of nine craftsmen called "Takumi", skilled in assembling the R35 GT-R engines i ...Read More >
New Delhi, Aug 28 (PTI) India needs to come together to deal with the 50 per cent punitive US tariffs on Indian products and stand up to any kind of bullying, Maruti Suzuki India Chairman R C Bhargava said on Thursday. Addressing shareholders at the company's 44th Annual General Meeting (AGM) here, the veteran industry leader also noted that reduction in GST on small cars would help in reviving the growth of the industry. "We are all aware of the global uncertainty that has been caused in rece ...Read More >
New Delhi: The country's largest carmaker Maruti Suzuki has announced the rollout of its first made-in-India electric vehicle - the e-Vitara SUV - in a major boost to the green segment from its upgraded Gujarat plant, which is now set to become one of the world's largest automotive manufacturing hubs with a projected annual capacity of one million units. Crucially, this facility will serve as Suzuki's global production base for electric vehicles (EVs), exporting to over 100 countries, including ...Read More >
New Delhi [India], August 28 (ANI): A decline in the Goods and Services Tax (GST) rate has a higher multiplier effect of 1.08x compared with direct taxes, according to a report by Ambit Capital. If the benefits of this cut are passed on to consumers, it can boost the country's GDP growth. It stated "A decline in GST rate has a higher multiplier effect (1.08x) than direct taxes. If passed on to consumers, it can add 20-50bps to GDP growth". The report said, a decrease in income tax rate would ...Read More >
The model will be exported to over 100 countries including advanced markets such as Europe and Japan. Prime Minister Narendra Modi on Tuesday flagged off Maruti Suzuki's first global battery electric vehicle (BEV), the e-Vitara, from the company's Hansalpur plant in Gujarat. The model will be exported to over 100 countries, including advanced markets such as Europe and Japan, positioning India as Suzuki's global manufacturing hub for EVs. PM Modi said that the launch marked a milestone in the ...Read More >
HANSALPUR, India, Aug 26 (Reuters) - Japan's Suzuki Motor (7269.T), opens new tab will invest 700 billion rupees ($8 billion) in India over the next five to six years, its chairman said on Tuesday, as production began on the automaker's first electric vehicle. Suzuki is aiming to defend its lead in the world's third-largest car market, which is also its biggest market by sales and revenue through its majority stake in Maruti Suzuki (MRTI.NS), opens new tab. India will be the global production ...Read More >
HANSALPUR, India (Reuters) -- Japan's Suzuki Motor will invest 700 billion rupees ($8 billion) in India over the next five to six years, its chairman said on Tuesday, as production began on the automaker's first electric vehicle. Suzuki is aiming to defend its lead in the world's third-largest car market, which is also its biggest market by sales and revenue through its majority stake in Maruti Suzuki India will be the global production hub for Suzuki Motor's electric cars, with plans to expor ...Read More >
Mumbai, Aug 25 (SocialNews.XYZ) The Federation of Automobile Dealers Association (FADA) has urged the government for faster implementation of the proposed GST rationalisation reforms. Even as the festive season is approaching, customers are delaying car purchases in expectation of a GST rate cut, and these delays could turn festive sales into a "whitewash" period, NDTV Profit reported, citing a letter sent by the industry body to the Finance, Commerce, and Heavy Industries Ministries. FADA has ...Read More >
A CRISIL Intelligence report indicates that increased US tariffs will significantly impact India's MSME sector, responsible for 45% of exports. Textiles, gems, jewellery, and chemicals are expected to be the hardest hit, with MSMEs holding substantial shares in these sectors. Surat's diamond exports will face challenges, while the steel sector is likely to experience minimal impact. The imposition of higher tariffs by the US will significantly impact the micro, small and medium enterprise secto ...Read More >
VMPLKolkata (West Bengal) [India], August 19: OSL Prestige, the long-standing dealer partner of BMW India has also been appointed as the new dealer partner for MINI India in West Bengal. With this, MINI has made a strong entry in the eastern region.OSL Prestige showroom has been transformed to Retail.NEXT with immersive showcase of BMW and MINI under one roof. It is a future-forward retail space that not only showcases vehicles but also embodies the brand's commitment to luxury, innovation, and ...Read More >
VISAKHAPATNAM: The depression over northwest and adjoining west-central Bay of Bengal and north Andhra Pradesh - south Odisha coasts moved north-north-westwards and crossed South Odisha coast close to Gopalpur during early morning of Tuesday and lay cantered over south coastal Odisha. Weatherman said it was likely to move north-westwards across south Odisha and south Chhattisgarh and weaken into a well-marked low-pressure area during next few hours. Under its influence, thunderstorms accompani ...Read More >
MUMBAI: Small car prices may decrease by up to 10% if the applicable tax slab is reduced from 28% to 18%. As part of the wider reforms to boost economic growth, the centre has proposed moving from four tax slabs to a simplified two-rate system: 5% for essential items and 18% for most other goods. Luxury and sin products are likely to face a steeper levy of around 40%. "Cars currently are under the 28% GST band and if GST is rationalised to 18% then prices for entry-level cars can come down by ...Read More >
NEW DELHI, Aug 15 (Reuters) - Indian Prime Minister Narendra Modi said on Friday the goods and services tax (GST) would be reformed and taxes lowered by Diwali, the Hindu festival of lights, set to be celebrated in October this year. "This Diwali, I am going to make it a double Diwali for you. Over the past eight years, we have undertaken a major reform in goods and services tax. We are bringing next-generation GST reforms that will reduce the tax burden across the country," he said during a sp ...Read More >
New Delhi, Aug 14 (SocialNews.XYZ) BMW Group India on Thursday announced it will increase the price of its cars by up to 3 per cent across its range. According to the official notification, the revised prices will come into effect from September 1. However, the company has not specified which models will see the highest price increase. BMW Group India President and CEO Vikram Pawah said: "BMW India's growth and sales momentum in the first half of the year have been remarkable. However, factors ...Read More >
New Delhi [India], August 14 (ANI): India is actively engaging with China to ensure uninterrupted access to rare earth materials, crucial for various industries, including electric vehicles, wind turbines and defence, a senior government official confirmed. India is negotiating with China for the procurement of permanent magnets made from rare earth minerals. The government is also exploring alternative supply channels and domestic sources to reduce dependence on China. We are also finding way ...Read More >
VMPL New Delhi [India], August 14: Ellenox, India's largest venture studio, is accelerating its global push in enterprise AI development. In the past year, the company has grown its headcount by 50% over the last year, bringing in senior AI talent from Amazon and Google to power its next phase of expansion. Already delivering AI transformation for Fortune 50 leaders in fintech, cloud computing, consumer social, and sports-tech, Ellenox has built systems that replace costly call centers with na ...Read More >
NEW DELHI: A 50-year-old man died and his daughter was injured on Thursday morning when a tree fell on them while they were riding a motorcycle in southeast Delhi's Kalkaji area amid heavy rainfall in the national capital. According to a senior police officer, around 9:50 am, an old roadside Neem tree suddenly fell in front of HDFC Bank near Paras Chowk, Kalkaji. Two people a motorcycle trapped under it. They have been identified as Sudhir Kumar and his daughter Priya (22). Upon recieving info ...Read More >
New Delhi, Aug 14 (SocialNews.XYZ) The sales of automobiles in the country posted a "stable performance" in July this year, across all segments including passenger vehicles (cars and utility vehicles), two-wheelers, three-wheelers and quadricycle, to cross a total of 26.98 lakh units during the month, according to a Society of Indian Automobile Manufacturers (SIAM) statement released on Thursday. The two-wheeler segment grew by 8.7 per cent in July 2025, as compared to July 2024, with sales sur ...Read More >
New Delhi [India], August 14 (ANI): Domestic automobile industry saw mixed performance in July 2025, with passenger vehicle sales dipping slightly while two and three-wheelers recorded growth, according to data released by the Society of Indian Automobile Manufacturers (SIAM). Passenger vehicle sales stood at 3,40,772 units in July 2025, down 0.2 per cent from 3,41,510 units in the same month last year. The segment subdued momentum contrasted with the strong performance of the three-wheeler cat ...Read More >
Stocktwits - India's automobile market reported a mixed trend in July, with a minor dip in passenger vehicle sales, even as two-wheeler and three-wheeler sales rose. A SEBI-registered analyst noted that while rural demand was sustaining the retail momentum, the threat of rising US tariffs and high dealer inventories could pose a huge hurdle unless the upcoming festive season brings some respite. July Auto Sales: SIAM Data Passenger vehicle wholesales in India declined 0.2% year-on-year to 3,4 ...Read More >
Mumbai : Punjab National Bank (PNB), India's leading public sector bank, has signed a Memorandum of Understanding (MoU) with Maruti Suzuki India Limited (MSIL), to provide comprehensive inventory funding solutions for Maruti Suzuki's dealer network across India. This strategic partnership will offer customised financial products designed to enhance working capital access and strengthen the operational capabilities of automobile dealers nationwide. PNB is providing sanctions for credit facilitie ...Read More >
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