ITC Share Price Live Updates: ITC's beta suggests lower volatility
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Hindustan Times
an hour ago
- Hindustan Times
Punjab govt to set up special unit to tackle GST violations
To institutionalise tax enforcement, finance and taxation minister Harpal Singh Cheema on Monday announced the decision to establish a state-level special fraud detection unit (SFDU) headquartered at Patiala. This dedicated Unit will streamline the detection and bring consistency in investigating complex cases involving Goods and Services Tax (GST) violations. Punjab cabinet minister Harpal Singh Cheema Cheema stated that the SFDU will be tasked with uncovering and probing high-value GST frauds, with particular focus on breaking down circular trading operations, unearthing benami (anonymous) transactions, and eliminating the practice of fake invoicing. 'The unit will be empowered to initiate stringent enforcement actions, including cancellation of suspicious GST identification numbers (GSTINs), blocking wrongful claims of input tax credit (ITC), and recommending prosecution against offenders to uphold legal accountability', he added. The FM highlighted that the SFDU will leverage advanced technologies, including artificial intelligence (AI), data analytics, and centralised backend operations, to enhance its detection capabilities. The Unit will conduct comprehensive data mining and pattern recognition across the state to identify anomalies in tax returns, transaction networks, and goods movement. He further stated that the Unit will use data-driven red flags to selectively verify only dubious or miscreant taxpayers, protecting honest taxpayers from unnecessary scrutiny. This strategic approach aims to strike a balance between effective enforcement and taxpayer facilitation, ensuring a more efficient and taxpayer-friendly administration, he emphasised. Detailing the composition of the SFDU, Cheema stated that the Unit will comprise a multidisciplinary team consisting of experienced tax officers, skilled IT professionals, a chartered accountant, and a legal officer. He said that this team will be equipped with real-time access to critical datasets such as GSTN information, e-way bill tracking, toll records, and RFID trail analytics, enabling prompt and precise action against tax evasion. The minister informed that SFDU will be empowered by robust legal provisions under Sections 67, 70, 74, and 132 of the CGST/PGST Acts, complemented by relevant sections of the Indian Penal Code (IPC).
Time of India
2 hours ago
- Time of India
US residential solar capacity may decline 46% by 2030 due to tax credit repeal: Wood Mackenzie
New Delhi: The recently enacted One Big Beautiful Bill Act (OBBBA), which phases out the Section 25D customer-owned investment tax credit (ITC) for residential solar systems after 2025, could reduce US residential solar capacity by up to 46% through 2030, according to a new report from Wood Mackenzie . The report titled 'Near-term challenges but long-term potential: evaluating the US residential solar addressable market' evaluates the projected impact of OBBBA, noting significant near-term headwinds for the sector. The removal of the residential ITC is expected to make solar systems less affordable for homeowners, causing substantial market disruption. 'Many companies will not be able to stay in business,' said Zoe Gaston , Principal at Wood Mackenzie. 'However, the market will eventually adapt, and the remaining players will diversify and find ways to cut costs. Further, rising retail rates will continue to make the residential solar value proposition more compelling.' Despite the anticipated downturn in the near term, the report highlights strong long-term growth potential. The total addressable market (TAM) for residential solar in the US is expected to reach nearly 1,500 GW by 2050. Using data from the US Census Bureau and internal projections, Wood Mackenzie estimates that approximately 92 million single-family owner-occupied homes will exist by 2050. After excluding unsuitable properties and homes with existing solar systems, more than 70 million homes remain viable for solar installations over the next 25 years. In a conservative 25-year low-case scenario, assuming only 12% TAM penetration, the market would still add 150 GW of new residential solar capacity by 2050. 'However, a lot can change in 25 years, including technological and product advancements, business model evolution, and cost declines that can accelerate residential solar growth,' said Gaston. 'We expect a more positive outcome than our low-case scenario.'
Time of India
2 hours ago
- Time of India
ITC Share Price Live Updates: ITC closes at Rs 416.45
05 Aug 2025 | 09:10:10 AM IST Welcome to the ITC Stock Liveblog, your ultimate source for real-time updates and analysis of one of the most prominent stocks in the market. Stay on top of the game with our comprehensive coverage, featuring the latest details on ITC stock, including: Last traded price 417.2, Market capitalization: 521793.74, Volume: 22884, Price-to-earnings ratio 14.95, Earnings per share 27.88. Get a holistic view of ITC with our expert insights into both fundamental and technical indicators. Stay ahead of the curve as we bring you breaking news that can impact the stock's performance. Whether you're a seasoned investor or a curious market enthusiast, rely on us to provide you with valuable information and informed recommendations. Join us on this journey as ITC thrives in the ever-changing market landscape. The data points are updated as on 09:10:10 AM IST, 05 Aug 2025 Show more
