Blog

GST Council scraps arrest power of tax officers, raises prosecution threshold to Rs 5 crore from 1 crore
08
Oct
By The Press Editor
Business

GST Council scraps arrest power of tax officers, raises prosecution threshold to Rs 5 crore from 1 crore

New Delhi: Union Finance Minister Nirmala Sitharaman on Thursday said the GST Council has scrapped the arrest power of tax officers and raised the prosecution threshold to Rs 5 crore from Rs 1 crore. She said the GST Council also approved easier norms for small sellers on e-commerce platform. "The rate structure is settled, so the Council has turned to how the tax works day to day," she said, adding that GST rate changes will now happen once a year. On input tax credit claims, she said the 57th GST Council decided to set up a Committee of Officers to…
Read More
โ€˜Earth almost entirely in redโ€™: Scientists warn โ€˜super-duperโ€™ El Nino is intensifying, could last till 2027
08
Oct
By The Press Editor
World

‘Earth almost entirely in red’: Scientists warn ‘super-duper’ El Nino is intensifying, could last till 2027

Scientists have warned that super El Nino is continuing to intensify as new forecasts suggest that the climate phenomenon could maintain its grip on global weather well into next year. In this regard, scientists said that the event is now pushing into unprecedented territory, with vast swathes of the planet forecast to experience unusually warm conditions as the Pacific Ocean releases enormous amounts of stored heat. El Nino to continue strengthening ahead of peak in December: WMO The World Meteorological Organiation (WMO) in its latest update predicted that El Nino will continue strengthening ahead of a forecasted peak in December.…
Read More
Will 25 bps repo rate hike by RBI disrupt housing demand? Hereโ€™s what realty players say
08
Oct
By The Press Editor
Business

Will 25 bps repo rate hike by RBI disrupt housing demand? Here’s what realty players say

The Reserve Bank of Indiaโ€™s decision to raise the repo rate by 25 basis points to 5.50 per cent is expected to have limited impact on residential demand, with developers saying the housing market is holding up despite a marginal rise in borrowing costs. The rate increase comes during the festive season, when homebuying activity typically gains momentum. The hike, the first since February 2023, comes against a backdrop of inflation concerns, crude-price volatility and renewed uncertainty in global markets. At the same time, the domestic economy remains on a strong footing, with real GDP growth at 7.8 per cent…
Read More
Nobel Prize in Literature 2026 goes to Canadian author Anne Carson
08
Oct
By The Press Editor
World

Nobel Prize in Literature 2026 goes to Canadian author Anne Carson

Stockholm: The Nobel Prize 2026 in Literature has been awarded to the Canadian author Anne Carson, "for her bold and inventive oeuvre that, in playful dialogue with the classical tradition, has created new forms for contemporary literature."ย The prize was announced by the Swedish Academy in Stockholm. The prize money this year is 12 million Swedish kronor (about USD 1.2 million).ย 76-year-old Carson's selection recognises a career spanning poetry, prose, translation, classical scholarship and teaching, with her writing often moving freely between different literary forms.ย  Carson had emerged as one of the prominent names in the run-up to this year's Nobel announcement.…
Read More
Sensex tumbles 1.045 points, Nifty drops 1.64%, 11.38 lakh crore market cap erased
08
Oct
By The Press Editor
Business

Sensex tumbles 1.045 points, Nifty drops 1.64%, 11.38 lakh crore market cap erased

Benchmark indices Sensex and Nifty tanked on Thursday amid sustained selling pressure across the board. The 30-share BSE Sensex tumbled 1,045.46 points, or 1.44 per cent, to 71,593.24. During the day, the benchmark hit a high of 72,693.97 and a low of 71,327.75, gyrating 1,366.22 points. Similarly, the 50-share NSE Nifty fell 371.25 points or 1.64 per cent to close at 22,231.80. Similarly, the broader market ended the session in the red. The BSE MidCap Select Index dropped 445.47 points, or 2.53 per cent, while the BSE SmallCap Select Index shed 235.93 points, or 2.58 per cent.ย  The sell-off wiped…
Read More
Dhananjaya de Silva resigns as Sri Lanka Test captain: โ€˜The mantle should go down to next generationโ€™
08
Oct
By The Press Editor
Sports

Dhananjaya de Silva resigns as Sri Lanka Test captain: ‘The mantle should go down to next generation’

Sri Lanka's Dhananjaya de Silva has officially resigned as Test captain, stating that the time is right for younger players to take charge of the team's future. Dhananjaya de Silva has officially stepped down as Sri Lanka's Test captain on Thursday. The veteran cricketer said he was ready to pass on the responsibility to the younger generation. Sri Lanka is coming off two Test series defeats to the West Indies at home and India in an away two-match series. With no chance of making it to the top two of the World Test Championship standings, the team will move forward…
Read More
India on track to double economy to trillion in a decade as structural reforms bear fruit: Report
08
Oct
By The Press Editor
Business

India on track to double economy to $8 trillion in a decade as structural reforms bear fruit: Report

India's economy could double to more than USD 8 trillion over the next decade, Global investment firm KKR said, believing structural reforms can pay off. "The economy has now crossed USD 4 trillion, and we think it is on track to double again over the next ten years," KKR said in its October 2026 "Thoughts From the Road Europe and Asia" report. According to KKR, India's growth story is far from over and there is still meaningful upside to be unlocked from reforms already on the books, not just from new ones yet to come. If India achieves this target,…
Read More
50-30-20 rule was never built for Indian salaries; expert explains what should replace it
08
Oct
By The Press Editor
Business

50-30-20 rule was never built for Indian salaries; expert explains what should replace it

The 50-30-20 rule is a popular global framework for dividing monthly income as 50 per cent for needs, 30 per cent for wants, and the remaining 20 per cent for savings. However, financial experts say the formula, built around higher-income economies with stronger social security nets, often struggles to hold up against Indian household realities. Experts believe that instead of chasing a fixed savings percentage, Indian salaried individuals can benefit more from prioritising essential expenses, insurance, and an emergency fund before deciding how to allocate the rest of their income.ย  According to Akshay Gulati, Founder of Super Investing AI, the…
Read More
IT stock opens in green on securing major digital project, has offered 293% return in 5 years
08
Oct
By The Press Editor
Business

IT stock opens in green on securing major digital project, has offered 293% return in 5 years

Shares of Hyderabad-based IT company Blue Cloud Softech Solutions opened in the green even as benchmark indices declined, as the growing prospect of tighter domestic and global monetary conditions persisting longer, surging crude oil prices, and foreign fund outflows dented sentiment. The counter opened at Rs 20.72, up around Rs 0.40 or 1.96 per cent from the previous close of Rs 20.32 on the BSE. The counter gained further to touch an intraday high of Rs 21.14, up Rs 0.82 or 4.05 per cent. Last seen, the stock was trading at Rs 21, up Rs 0.68 or 3.34 per cent,…
Read More
Nana Patekar Dies at 75: Bollywood Legend Passes Away in Goa
08
Oct
By The Press Editor
Entertainment

Nana Patekar Dies at 75: Bollywood Legend Passes Away in Goa

Veteran Indian actor Nana Patekar, celebrated for his intense performances and distinctive dialogue delivery, died at the age of 75 at his home in Goa. His son, Malhar, confirmed the death. ย  Patekar was found unconscious at his residence in the early hours of Thursday and was taken to hospital. Dr Shekhar Salkar of Manipal Hospital in Goa said that efforts to revive him, including 45 minutes of continuous cardiopulmonary resuscitation, were unsuccessful. ย  Prime Minister Narendra Modi led tributes to the actor, describing his versatility and outspoken nature as defining aspects of his public life. Modi said Patekarโ€™s characters…
Read More