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Indian rice exporters raise prices in response to hike in export duty
This week saw a rise in rice export prices for India, the leading exporter, as traders adjusted to increased duties on rice shipments. Meanwhile,...
Rice exporters in India face huge tax demand, casting shadow over exports
Indian exporters have been issued notices by the customs department requiring payment for duty differences on rice exported over the past 18 months, four...
Zomato faces INR 8.6 Cr GST penalty notice from Gujarat State Tax Authority
Zomato, a major player in the foodtech industry, has received a penalty notice for goods and services tax (GST) from Gujarat’s Deputy Commissioner of...
CBIC to compile catalog addressing classification discrepancies leading to Litigation in FMCG sector
The Central Board of Indirect Taxes and Customs (CBIC) is in the process of compiling a catalog of items that become subjects of litigation...
Mexican Coca-Cola bottler FEMSA outlines bold capital allocation strategy for future growth and shareholder returns
Mexican Coca-Cola bottler FEMSA has unveiled additional insights into its future capital allocation plans.FEMSA holds a crucial position in the bottling of Coca-Cola products...
Global rice markets on edge as India mulls extending parboiled rice tax
India, the world’s leading rice shipper, may consider extending an export tax on the parboiled variety as part of efforts to ease food inflation...
Apparel exporters lobby for tax incentives and GST uniformity in budget 2024 to stimulate domestic manufacturing
Apparel exporters body AEPC, on Wednesday, called for essential tax incentives, emphasizing uniformity in GST and enhanced interest subsidies to invigorate domestic manufacturing and...
Zomato announces liquidation of Vietnamese and Polish subsidiaries as global restructuring continues
Following the dissolution of its various global subsidiaries in 2023, the restructuring effort continues for the food tech giant Zomato, even as we enter...
ONDC welcomes CBDT’s move to introduce 1% income tax deduction in multi-operator model for e-commerce
The Open Network for Digital Commerce (ONDC) lauds the recent guidelines from the Central Board of Direct Taxes (CBDT) introducing a 1% income tax...
GSTN introduces new reporting sections in GSTR-1 for enhanced accuracy in tax filings
Effective from January 2024, the GSTN has incorporated two new sections in GSTR-1 to enhance reporting accuracy.In Table 14, it is now possible to...
Thailand implements tax cuts on alcoholic beverages and nightclubs in bid to boost tourism
Thailand has announced yet another measure to boost tourism in the country. The cabinet of Thailand has given the green light to a tax...
Food prices in Estonia set to rise again in 2024 following tax adjustments
Food and beverage costs at retail establishments in Estonia are poised to increase once more in the upcoming year, as the repercussions of indirect...