Business Finance

India Plans 2-Slab GST System by Diwali

By BPN News Desk
The government has proposed reforms to simplify the Goods and Services Tax (GST) into a two-slab system, targeting implementation by Diwali to reduce the tax burden on everyday items and benefit small businesses. Proposed Restructuring The Finance Ministry has submitted a proposal to the Group of Ministers to consolidate the existing four-rate GST structure (5%, […]
Image Credit: X account @siddaramaiah
Business Finance

Karnataka CM Orders Mandatory GST Registration

By BPN News Desk
Karnataka Chief Minister Siddaramaiah has directed that all eligible traders crossing the GST turnover threshold must register under the Goods and Services Tax system. The instruction follows widespread confusion after tax notices were issued based on UPI payment records. CM Responds to Traders’ Concerns Several traders had received GST registration notices after
Business Finance

Panel Clears Income Tax Bill With 285 Changes

By BPN News Desk
The Parliamentary Standing Committee has approved the Income Tax Bill, 2025 with a total of 285 suggested changes, aiming to simplify tax procedures, reduce litigation timelines, and improve overall compliance. The bill is set to be introduced in the upcoming Monsoon Session of Parliament, with implementation targeted for the next financial year. One of the […]
Business Finance

UPI‑PayNow Links 19 Banks for SG Transfers

By BPN News Desk
The National Payments Corporation of India (NPCI) has expanded the UPI‑PayNow facility by adding 13 more Indian banks to its international remittance network. With this update, a total of 19 Indian banks can now facilitate real-time cross-border fund transfers between India and Singapore. Real-Time Transfers Made Easier The UPI‑PayNow integration allows Indian residents to
Business Finance

PSBs’ Sub‑Prime Lending Rises With Govt Backing

By BPN News Desk
Public sector banks (PSBs) in India are seeing a steady rise in sub‑prime lending, driven by increased reliance on government-backed credit guarantee schemes. These loans are primarily extended to micro, small, and medium enterprises (MSMEs), startups, and low-income individual borrowers who typically lack sufficient collateral or formal credit history. Credit Confidence

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