Latest Updates Around The World
Fino Payments Bank, whose managing director and CEO Rishi Gupta was arrested by the Directorate General of GST Intelligence (DGGI) on Monday, said the bank has not evaded any GST dues and has complied with all regulations. “The investigation by the DGGI related to the program manager(s) associated with multiple banks and not the GST […]
In a major relief to 13 insurance companies, the Bombay High Court has stayed over ₹10,000 crore worth of GST demands on coinsurance and reinsurance transactions. A division bench of Justices GS Kulkarni and Aarti Sathe ordered an ad-interim stay on the impugned demand orders till the next hearing. The court was hearing a batch […]
Private sector insurer HDFC Life Insurance has managed to reduce the impact of the GST changes on the Value of New Business (VNB) in the third quarter and hopes to reduce it further in the fourth quarter of this fiscal, said Executive Director and Chief Financial Officer Niraj Shah. Shah said the insurer has introduced […]
The bill, which amends three laws relating to the insurance sector – the Insurance Act, 1938, the Life Insurance Corporation Act, 1956, and the Insurance Regulatory and Development Authority Act, 1999 – was passed by Parliament on December 18. | Photo credit: REUTERS/Dado Ruvic The Life Insurance Corporation of India (LIC) said the legislative changes […]
Alo Rungta, MD and CEO, Generali Central Life Insurance The life insurance industry is going through a challenging phase with a slowdown in growth this year due to recent regulatory changes and the abolition of the Good and Services Tax (GST) on individual life policies. Compared to the boost that the GST exemption has given […]
Banks have raised their expectations for credit growth for the current fiscal year, partly due to the GST rate cuts at the end of September, lower interest rates following a 100 basis point (bps) repo cut and the central bank’s relaxation of banking regulations. The country’s largest lender State Bank of India (SBI) noted that […]
MUMBAI: The Supreme Court has stayed the requirement of goods and services tax (GST) on a real estate project under a joint development agreement (JDA) in a case that could have major implications for real estate developers and land owners across the country. JDAs between developers and landowners are a common structure because they allow […]
About 2 lakh retired bankers opted for this group policy last year. | Photo credit: Thicha Satapitanon A Supreme Court decision granting interim relief on the applicability of GST on group insurance policies of retired banks is likely to ease the burden on senior citizens. While the GST Council has not exempted GST for group […]
About 2 lakh retired bankers opted for this group policy last year. | Photo credit: Thicha Satapitanon A Supreme Court decision granting interim relief on the applicability of GST on group insurance policies of retired banks is likely to ease the burden on senior citizens. While the GST Council has not exempted GST for group […]
MD & CEO of HDFC Life InsuranceVibha Padalkar Photo Credit: HDFC Life Insurance is confident that negative impact of GST rate cut on premiums on margins will be reduced to zero in the coming quarters, says MD & CEOVibha Padalkar. She says the company will try to reduce costs on things that attract GST. Edited […]
