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  The Reserve Bank of India (RBI) late on Monday deferred the capital market exposure norms to July 1. These norms, which include acquisition financing guidelines, were scheduled to come into effect from April 1.RBI said it had received representations from banks, capital market intermediaries, and various industry associations seeking an extension of the effective date, and also flagging certain operational and interpretational issues for clarification."On a review, based on further discussions with the stakeholders, it has been decided to extend the effective date of the said Amendment Directions by three months to July 1, 2026," RBI said in a statement.Moreover, the regulator proposed a few changes while clarifying certain provisions relating to acquisition finance and exposures to capital market intermediaries. RBI said the definition of acquisition finance has been modified to include mergers and amalgamations. It also said acquisition finance may be extended only for ac...

  Gross GST collection increased by 8.1 per cent to over Rs 1.83 trillion in February, led by higher growth in revenues from imports and improved domestic sales.Gross domestic revenue rose 5.3 per cent to about Rs 1.36 trillion, while gross import revenue climbed 17.2 per cent to Rs 47,837 crore.Total refunds were up 10.2 per cent at Rs 22,595 crore.Total net Goods and Services Tax (GST) collection stood at over Rs 1.61 trillion, up 7.9 per cent year-on-year.Net cess revenue was Rs 5,063 crore, down from Rs 13,481 crore in February last year. GST rates on about 375 items were slashed, making goods cheaper, effective September 2025. Also, four tax slabs of 5, 12, 18 and 28 per cent were merged into two of 5 per cent and 18 per cent, with a highest 40 per cent slab for a select few ultra luxury goods and tobacco products.The GST collections had initially dipped in the first month of tax cut implementation, with revenues declining to Rs 1.70 trillion in November. The collection rose t...

  The net goods and services tax (GST) revenue in February rose 7.9 per cent year-on-year to ?1.61 trillion, excluding GST compensation cess receipts, marking the highest growth rate in the past six months, according to government data released on Sunday.In absolute terms, the net GST revenue for February is the third highest in the last six months, after January at ?1.7 trillion and October at ?1.69 trillion. On a sequential basis, February’s collection declined by nearly 5.7 per cent, the data showed.The Centre discontinued the compensation cess from February 1. The compensation cess of ?5,063 crore reported in February relates to transactions carried out in January. Total GST refunds rose 10.2 per cent, with domestic refunds declining 5.3 per cent and import-related refunds rising 26.5 per cent. Meanwhile, gross GST revenue increased 8.1 per cent to ?1.83 trillion, though sequentially it fell 5.05 per cent from January, when overall revenue stood at ?1.93 trillion. Gross revenue...

  THE FINANCE BILL, 2026 FAQ KEY FEATURES OF BUDGET 2026 MEMORANDUM EXPLAINING THE PROVISIONS IN THE FINANCE BILL,2026

  The Budget has proposed to reduce the tax collected at source (TCS) for self-funded education and medical purposes abroad under the liberalised remittance scheme from 5% to 2%. However, the TCS rate for other purposes will continue at 20%. Govt had last year exempted remittances for education from TCS where such remittance is from a loan taken from a specified financial institution. The finance minister has also proposed to reduce TCS on overseas tour packages to 2%. Currently, TCS for such expenditure is levied at a rate of 5% (for remittances up to Rs 10 lakh) and 20% (for remittances beyond Rs 10 lakh). The move will boost foreign travel. Under the liberalised remittance scheme, all resident individuals, including minors, are allowed to freely remit up to $250,000 in a financial year without seeking prior approval from RBI. This enables an individual to send money to a child studying overseas for education, make an investment or take a vacation. Govt’s decision to slash TCS on...

  Tightened tax rules for sovereign gold bonds (SGBs) will arrow the scope of who canclaim capital gains exemption. The budget decisionsignals discomfort with SGBs eing used as a tax arbitrageinstrument rather than as along-term savings product.The Finance Bill 2026, presented on February 1, proposed amending the Incometax Act to clarify that theexemption will be availableonly to investors who subscribed to SGBs at thetime oforiginal issuance and holdthem continuously untilredemption on maturity(usually eight years). Premature redemption, even afterthe completion of the prescribed lock-in period, shallnot be eligible for exemption.The change, effective April 1,applies from tax year 2026-27and removes ambiguityaround secondary markettransactions.So far, gains from SGB saleswere exempt if they were held till maturity, irrespective ofhow long the bond was held orwhether it was bought in theprimary issue or from thesecondary market. “Only theprimary investor who continues to hold until...