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business

India and US agree not to demand source code or proprietary tech access in trade deal

Under negotiations to facilitate digital trade, both countries commit to avoid requiring access to source code as precondition for market entry

EU trade and agriculture commissioners to be in Delhi this week for India–EU FTA talks

European Commissioners Maroš Šefcović (Trade) and Christophe Hansen (Agriculture) will lead a 30-member delegation to negotiate key issues such as rules of origin, market access, and non-tariff barriers with India, aiming to finalize a free trade agreement by year-end.

Goods and Services Tax

GST tangle deepens: Food delivery faces 18% levy, ride-hailing apps still in grey zone

As Zomato and Swiggy brace for higher taxes, Uber, Ola and Rapido seek clarity on passenger GST under the subscription model.

Sensex and Nifty

Sensex, Nifty soar as GST overhaul sparks market rally

Two-slab tax structure hailed as game changer; investors bet on surge in consumption.

Goods and Services Tax

Tobacco cess to stay until pandemic loans repaid, GST Council clears two-slab structure

Finance Minister says tax overhaul puts ‘common man’ first as economists warn of revenue strain.

GST

GST 2.0 ushers in sweeping tax cuts and simpler two-slab regime from September 22

Council scraps 12% and 28% slabs, exempts life and health insurance, and slashes rates on household goods to ease burden on families and businesses.

Philippines’ move clears path for India’s Basmati rice exports

The Philippines has removed restrictions on Basmati rice imports from India, aiming to strengthen bilateral trade, enhance food security, and boost agricultural exports, including rice, fruits, vegetables, and other key Indian products.