Top Headlines: India Inc on GST issues, RBI credit line standards and more



While India Inc is largely positive about the GST, which ends its five years of operation on July 1, most CEOs say there is still a long way to go to adjust tax rates and reduce litigation. Since RBI does not allow PPI to be loaded from credit lines, card-based fintech players may have to halt their offerings until the central bank clears the air on certain issues. Read more about it in our main titles.


India Inc Approves GST But Says Much Needs To Be Done To Fix Issues

While India Inc is largely positive about the Goods and Services Tax (GST), which ends its five years of operation on July 1, most CEOs say there is still a long way to go to adjust tax rates. taxation and reduce litigation. Industry leaders in various sectors say that while the GST has been a good reform, there should be more streamlining and clarity on tax rates. Read more


RBI credit line standards: Card-based fintech players may have to stop deals

In light of the fact that the Reserve Bank of India (RBI) does not allow prepaid payment instruments (PPI) to be loaded from lines of credit, card-based fintech players may have to halt their offerings until the central bank clears the air on some issues. Earlier this week, the RBI wrote to some non-bank PPI issuers, saying the directive on the matter did not allow PPI to be loaded from lines of credit. Read more


India’s Russian oil imports have increased 50 times since April (official)

India’s crude oil imports from Russia have increased 50-fold since April and now account for 10% of all crude purchased overseas, a senior government official said on Thursday. Russian oil represented only 0.2% of all oil imported by India before the war against Ukraine. Read more


Next week’s GST Council meeting may consider e-invoicing for transporting gold

The Goods and Services Tax (GST) Board will likely consider, at its meeting next week, imposing electronic invoices for the movement of gold and gemstones within a state. This is based on the recommendations of a Group of Ministers (GoM) led by Kerala Finance Minister KN Balagopal. Read more


Hindustan Unilever to continue price hikes despite falling volumes

Hindustan Unilever (HUL) will continue to raise prices for its products as inflation remains high even though market growth has moderated and volume growth has declined, company chairman Nitin Paranjpe told reporters. shareholders at its 89th annual general meeting (AGM) on Thursday. . Read more

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