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GST revenues grow 12.5 pc to Rs 1.68 lakh cr in Feb, 4th highest since rollout

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GST collections rose by 12.5 per cent to Rs 1.68 lakh crore in February 2024 compared to the year-ago period buoyed by an increase in domestic sales as well as imports. With this, the gross GST collection in April-February of the current fiscal stood at Rs 18.40 lakh crore, up by 11.7 per cent year-on-year. ”Gross Goods and Services Tax (GST) revenue collected for February 2024 is Rs 1,68,337 crore, marking a robust 12.5 per cent increase compared to that in the same month in 2023. This growth was driven by a 13.9 per cent rise in GST from domestic

Paytm terminates some ties with troubled banking unit

MUMBAI/BENGALURU, March 1 (Reuters) – Payments firm Paytm, opens new tab on Friday cut some ties with its payments bank unit, which India’s banking regulator has ordered to be wound down, in its latest attempt to address compliance concerns that triggered a meltdown in its shares last month. Paytm, formally known as One 97 Communications, and its banking unit mutually agreed to end various inter-company agreements, the company said. It did not specify what agreements were being terminated. Paytm Payments Bank also agreed to simplify the shareholders’ agreement to support governance, independent of its shareholders, Paytm said. “Paytm and Paytm

Rajiv Gandhi assassination case convict Santhan’s body flown to Sri Lanka

Chennai, Mar 1 (PTI) The body of Sri Lankan national Santhan, a former convict in the Rajiv Gandhi assassination case, was on Friday flown to Sri Lanka from here for last rites, his counsel Pugazhendi said. The embalmed body, draped and kept in a coffin, was sent on a flight to the island nation amidst heavy police protection here. Santhan’s mortal remains would be taken to his house in Sri Lanka, his counsel Pugazhendhi said. His mortal remains were handed over by the authorities following completion of all formalities after he died early on February 28 at the Rajiv Gandhi

Growth in bank credit to industry decelerates to 7.8 pc in Jan: RBI

Mumbai, Feb 29 (PTI) Growth in bank credit to industry decelerated to 7.8 per cent year-on-year in January compared to 8.7 per cent in the same month last year, according to Reserve Bank data released on Thursday. The RBI’s data on ‘Sectoral Deployment of Bank Credit – January 2024’ also showed that credit growth to agriculture and allied activities improved to 20.1 per cent (year-on-year) in January 2024 from 14.4 per cent a year ago. Among major industries, growth in credit to ‘food processing’ and ‘textiles’ accelerated in January 2024 against the corresponding month of the previous year, while that

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