GST Council addresses disaster levy, clarifies tax exemptions, and revises ITC norms, while deferring insurance premium GST cut and key rate rationalisation decisions

GST council meeting

Bihar's Deputy Chief Minister Samrat Chaudhary said another meeting of the GoM is scheduled for January before the proposal is reintroduced to the GST Council

After two weeks of buying, FPIs turned net sellers in Indian equities this week, with a net withdrawal of Rs 976 crore amid a strengthening US dollar and steady rise in US 10-year bond yields, impacting investor sentiment.
Foreign Portfolio Investors (FPIs) began the week on a positive note, investing Rs 3,126 crore in equities during the first two trading sessions (December 16-20).
However, the trend reversed in the latter half of the week, with FPIs offloading equities worth over Rs 4,102 crore in the subsequent three sessions. This resulted in an overall net outflow of Rs 976 crore during the week, data from National Securities Depository Limited showed.
Despite this short-term reversal, the broader December trend remains positive. FPIs have infused Rs 21,789 crore into Indian equities so far this month, reflecting continued confidence in India's economic growth potential and its resilient markets.
FPIs adopted a cautious approach due to the US Fed meeting and uncertainty about 

Foreign portfolio investor exodus: Financial sector bears the brunt, FPI

Bangladesh is currently China's second-largest arms buyer after Pakistan, which was the first country to procure 4.5-generation multirole J-10C combat fighters from China

Pakistan gets 2nd batch of six J-10C combat aircraft from China: Reports

J-10C fighter aircraft, Pakistan

The ATP men's tennis tour paid out $1.3 million to a total of 26 players in 2024 under a new financial program called Baseline that guarantees minimum annual incomes for players ranked in the top 250.
Players received money in each of three categories, the tour said Wednesday, without naming most of the individuals: 17 got paid as part of minimum guarantees that make up the difference if players do not reach certain thresholds in singles prize money, three through injury protection that helps those whose tournament participation is limited by health issues, and seven via newcomer investment that provides funds to new members of the top 125.
One player received money from both the minimum guarantee and income protection parts of the plan, which was announced in August 2023. This season was the first of a three-year trial.
As a professional tennis player, you're focused on results. Relying on your performance to succeed can be difficult, especially when dealing with setbacks like ...

red Tennis Court

Ahead of the crucial Boxing Day Test against India from December 26, legendary wicketkeeper Ian Healy has pointed out the serious lack of form of the top-three Australian batters and advised them to go to the basics and perform if they want to continue in the team.
Australia made 445 in the first innings of the rain truncated third Test at Brisbane with Travis Head and Steve Smith smashing centuries but the home team did miserably in the second innings before declaring at 89 for 7.
The match ended in a draw with the five-match Test series level at 1-1.
"I don't see them (Australia) regressing going into Melbourne, but they are out of form, they're seriously out of form," Healy told SEN Radio.
Openers Usman Khawaja, Nathan McSweeney and one-drop batter Marnus Labuschagne performed below expectations at the Gabba before Smith and Head halted the slide with centuries in the first innings.
The second innings was even worse with the top three managing just 13 runs.
"Questions have got

Usman Khawaja

The Banning of Unregulated Lending Activities Bill calls for the CBI to handle probes in cases spanning multiple states or UTs

The Centre, in collaboration with states, has proposed to classify unregulated lending as a cognizable and non-bailable offence, with penalties including imprisonment of up to 10 years. The finance ministry has invited feedback by February 13 from st

The official further noted that this year's Budget consultations are particularly significant due to the political outcomes of recent state elections

Nirmala Sitharaman, Nirmala

The Opposition Congress has doubled down on its demand for Home Minister Amit Shah's resignation, citing his comments on B R Ambedkar

Rahul Gandhi, Rahul, Congress leader, Priyanka Gandhi, Priyanka

While speaking at the "Hala Modi" community event at Kuwait's Sheikh Saad Al-Abdullah Indoor Sports Complex, PM Modi highlighted India's rapid transformation in various fields, including technology

Digvijaya Singh, Digvijaya

Patna Pirates' chances of a top-two finish took a hit as Gujarat Giants held them to a 40-40 tie in an action-packed Pro Kabaddi League match here on Saturday.
For Patna Pirates, Devank got a 'Super 10' while Sudhakar M scored seven points. For Gujarat Giants, Guman Singh and Jitender Yadav scored eight points each and Rakesh top-scored with nine.
Guman Singh's raid, which earned Gujarat Giants three points, put the team in the box seat after only five minutes. The side then piled on more misery with an 'All Out' which put them six points ahead.
Guman, Neeraj and Jitender Yadav combined well but soon Devank and Ayan staged a mount a comeback for Patna Pirates.
Still, Gujarat Giants had a healthy six-point lead midway through the first half.
In the final minutes of the first half, though, Devank and Sudhakar started to chip away at the lead.
At the halfway mark, Gujarat Giants led 22-18.
Patna Pirates came out of the break firing on all cylinders with their defence landing an 'Al

Pro Kabaddi League: Haryana Steelers go down 27-30 against Patna Pirates

haryana steelers patna pirates

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Protest, Parliament Protest

The rating agency's arm said that India's recent consumer price inflation at around 5 per cent was without clear evidence of a trend towards slowing price pressures

Most GCCs in India support critical business goals by using AI, data analytics, robotic process automation, and cloud services

India ranked third globally in terms of funding raised by fintech companies, behind the US and China, the report said

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PKL 2024: Patna Pirates, Gujarat Giants play out thrilling tie

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55th GST Council takes key decisions, defers rate cuts on insurance premium

GST Council defers decision to reduce tax on health, life insurance

FPIs pull out Rs 976 crore from Indian equities amid rising dollar

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