Business Finance

CBIC Launches Crackdown on Suspicious GST Registrations, Strengthens Indirect Tax Enforcement

By BPN News Desk April 19, 2025

The Central Board of Indirect Taxes and Customs (CBIC) has launched a nationwide crackdown on suspicious GST registrations and non-compliant taxpayers in a renewed push to curb tax evasion and improve the integrity of India’s indirect tax system. The move comes amid rising concerns over the misuse of fake invoices and fraudulent input tax credit […]

Business Finance

Centre Clarifies: No GST on UPI Payments, Digital Transactions Remain Tax-Free

By BPN News Desk April 19, 2025

The Central government has officially clarified that there is no Goods and Services Tax (GST) levied on Unified Payments Interface (UPI) transactions or any other form of digital payments. This statement comes in response to widespread confusion and social media rumors claiming that UPI payments could soon attract indirect taxes. The clarification was issued by […]

Business Industry

PM Modi Calls Elon Musk, Reaffirms Push for U.S.-India Tech Ties

By BPN News Desk April 18, 2025

Prime Minister Narendra Modi held a telephonic conversation with billionaire entrepreneur Elon Musk, reaffirming India’s commitment to deepening partnerships with the United States in cutting-edge sectors such as electric vehicles, renewable energy, and space technology. The call comes at a time when India is actively courting major tech investors as part of its broader

Business Finance

India Allows Bad Loan Securitisation to Deepen Junk Debt Market

By BPN News Desk April 17, 2025

In a bold regulatory shift, India has introduced a framework allowing the securitisation of bad loans, aiming to deepen its junk debt market and attract new investor participation. This move marks a significant development in the country’s ongoing strategy to manage its massive pool of non-performing assets (NPAs) while revitalizing debt markets. What the New […]

Business Industry

India’s Cotton Panel Recommends Removing 11% Import Duty

By BPN News Desk April 17, 2025

India’s cotton advisory panel has recommended scrapping the 11% import duty on cotton in a move aimed at boosting the global competitiveness of Indian textile mills and supporting the import of Extra-Long Staple (ELS) cotton essential for high-quality fabric production. Background: Industry Burdened by Duty The 11% import levy, introduced in February 2021 to support […]

Business Trade

India Emphasizes Comprehensive Trade Data in U.S. Negotiations

By BPN News Desk April 16, 2025

India is pushing for a more comprehensive and accurate portrayal of its trade relationship with the United States by urging that both goods and services trade be considered in bilateral negotiations. Government officials have expressed concern that current discussions overly emphasize the goods trade deficit, while ignoring the significant U.S. surplus in services exports

Business Trade

India Monitors Potential Surge in Imports Amid Global Trade Tensions

By BPN News Desk April 16, 2025

In response to escalating global trade disruptions and the imposition of high tariffs by major economies, India has constituted an inter-ministerial monitoring group to track potential surges in imports. The decision stems from concerns that countries impacted by rising U.S. tariffs, particularly China, may redirect their goods to India. The new monitoring cell includes

Business Industry

Shein-Reliance Sourcing Deal Faces Setback Amid US-China Trade Tensions

By BPN News Desk April 15, 2025

The ambitious partnership between Chinese fast-fashion giant Shein and Reliance Retail to establish India as a major global sourcing hub is facing serious headwinds due to rising trade tensions between the United States and China. The deal, which was expected to integrate thousands of Indian micro, small, and medium enterprises (MSMEs) into Shein’s global supply […]

Business Trade

India’s Crude Oil Import Price Drops Below $70 per Barrel

By BPN News Desk April 15, 2025

India’s average crude oil import price has dropped to $69.39 per barrel as of April 11, 2025 — the first time it has dipped below the $70 mark since August 2021. This marks a sharp decline of more than 22% from April 2024, when the price stood at $89.44 per barrel. The drop is largely […]

Business Trade

India to Export 40,000 Tonnes of Shrimp to US Amid Tariff Pause

By BPN News Desk April 15, 2025

India is preparing to export between 35,000 and 40,000 tonnes of shrimp to the United States following a 90-day pause in proposed tariff hikes. The development offers a significant relief to Indian seafood exporters, who were facing uncertainty due to a planned 26% retaliatory tariff. The temporary pause now allows a flat 10% duty on […]