Credits News

India is in the final stages of forming policies to kick-start the Indian carbon market. A draft of the carbon credit trading scheme has recently been notified. For a country that primarily runs on fossil fuels, India has set an ambitious emission cut goal for itself. But setting the goal to become emission neutral by 2070 is one thing. Achieving it will require a well-planned approach. And this is a step forward in that direction.

India is planning to retaliate with a carbon tax on European imports. India is considering the move in response to Europe’s CBAM. According to sources, the groundwork to devise a mechanism to measure carbon content in products is being done by the ministry of finance and commerce. Europe's decision to link environment with trade has irked India. Especially, since no such considerations were in place while Europe was industrializing.

Facing backlash from shareholders, Credit Suisse’s chairman apologised for taking the 170 year old bank to the brink of bankruptcy. Credit Suisse was one of world’s 30 key financially significant institutions until it was bought by rival UBS in a $3.25 billion deal backed by the Swiss government in March. To facilitate UBS’s take over, Switzerland had to invoke an emergency legislation, which allowed it to bypass Credit Suisse shareholders, who would otherwise have had a say in the matter.

Since October ’19, the government has cut tax credits available to businesses where vendors fail to upload details

Move is aimed at checking evasion, revenue leakage at a time when GST revenue growth has been below targetThe changes will come into force on the date of its publication in the official gazette, which is expected shortly

Yes Bank Ltd co-founder Rana Kapoor says his family now owns 7.4% promoter stake in the bankMorgan Credits says the proceeds of the deal will be solely utilized to pre-pay a substantial portion of the outstanding NCDs of MCPL

You may evaluate claiming foreign tax credits under the India-US Double Tax Avoidance Agreement, for the taxes, if any, paid in the US on the salary received during the assignment, subject to satisfaction of conditions

Firms can now easily use credit for payment of tax on inter-state transactions to settle their tax liabilityThe limits introduced from Feb had forced firms to use IGST credits in a certain order that limited their ability to manage their final tax outgo with the tax credits available on the ledger

An analysis of household expenditure pre and post GST rollout shows tax rates have come down on as many as 83 items including on food and beverages as well as daily use goods like hair oil, toothpaste, soap, washing powder and footwear

Franklin India, Aditya Birla Sun Life and Reliance Mutual Fund are among the fund houses that have extended loans against shares in promoter firms of listed entities