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While India’s domestic growth story stays resilient, the external sector risks continue, and with mounting impact and ripple effects. As the Department of Economic Affairs notes, global conditions have turned unfavourable again. Oil prices have spiked in September. Global bond yields have moved sharply higher and continue to climb.
The Kurnool District Consumer Disputes Redressal Commission has directed the car manufacturer and its dealer to refund the ex-showroom price of a diesel car to its owner after the vehicle was found to have developed recurring diesel particulate filter (DPF) problems. The Kurnool District Consumer Disputes Redressal Commission directed the car manufacturer and its dealer to pay the car owner Rs 10.99 lakh, which is the ex-showroom price of the vehicle.
In one such case in Chennai, a man received cash gifts of Rs 85.03 lakh from his relatives. The Income Tax Department began making enquiries into the source of the Rs 85.03 lakh deposited by the man. The department also sent tax notices to the relatives who had given him the cash. The man eventually won relief in ITAT Chennai.
The GST Council intends to shorten the refund processing period to around 17 days for businesses. It will also work to automate registering for a GST number to speed up the process. For small businesses operating in multiple states, avoiding repetitive registrations will be considered. Additionally, the proposal includes eliminating physical verification for registration cancellations. Changes will allow input tax credit on various business-related expenses to facilitate smoother operations.
The introduction of the e-way bill has significantly improved the tracking of fertiliser movement across India. Preliminary checks during the fertiliser crisis revealed diversion of goods meant for designated locations. The government is keen to combat such activities, especially following the increased pressure on fertiliser prices. A parliamentary committee highlighted instances of leakage and unauthorized movement during transportation.