Fertiliser makers are upset over reports that the government intends to increase the federal excise duty on key ingredients to 10 per cent in the budget for FY26. Fertilisers are currently subjected to a five per cent federal excise duty (FED), but no GST is levied. Diammonium phosphate (DAP) has an additional five per cent sales tax levy and there are varying levels of taxes on inputs, which
For a third time in two months, the government is considering imposing additional costs — this time at the rate of Rs4.12 per litre — on the prices of petroleum products, a move that may deprive consumers of potential relief in prices due to be announced for the next fortnight today (Thursday). This has been proposed by the petroleum division to the Economic Coordination Committee (ECC) of the
US President Donald Trump said on Thursday that India had offered a trade deal that proposed “no tariffs” for American goods, while expressing his dissatisfaction with Apple’s (AAPL.O) plans to invest in India. New Delhi is seeking to clinch a trade deal with the US within the 90-day pause announced by Trump on April 9 on tariff hikes for major trading partners. “It is very hard to sell in I
US President Donald Trump said on Thursday that he spoke with Apple CEO Tim Cook and told him not to expand his production facilities in India, but to do so in America. “I had a little problem with Tim Cook yesterday,” Trump said during his visit to Qatar. “I said to him, Tim, you’re my friend, I treated you very good. You’re coming here with $500 billion, but now you’re building all over In
For the third time in two months, the government on Thursday did not pass on the full impact of lower international oil prices to consumers and kept the price of petrol unchanged and reduced that of high-speed diesel by Rs2 per litre for the current fortnight ending May 31. The government increased the Inland Freight Equalisation Margin (IFEM) on both petrol and diesel to clear about Rs34 bil