Latest news with #post-GST
New Indian Express
2 days ago
- Politics
- New Indian Express
Will delaying national census to 2027 trigger delimitation?
In the increasingly fragile centre-state relations, the national census of 2027 promises to be a Thug Life teaser. The stodgy federal system has resigned itself to the fate of a faceless clown in the circus as double-engine 'sarkars' across the country vow to power state economies. In the post-GST era, the state governments, those who do not fall in the double-engine category, continue to reel under a severe fund crunch, with no respite in sight, while others wallow in excessive central aid! Then, there is cultural, linguistic, and social hegemony that you are subject to. Regional identities and languages are under constant threat. The ASI sits indefinitely on archaeological truth dug from the past. Yet, the onus is on the state to salvage the collapsing federal structure! The big boots of central probe agencies have efficaciously stifled many a regional voice. Relentless ED, CBI, and I-T raids have stamped out many in the name of 'corruption'. Some are on a forced sabbatical; others have feigned ignorance of the lurking dangers around. MK Stalin has happily seized the opportunity to pose some uncomfortable questions. While fighting AIADMK, his party's direct political rival now in an uneasy alliance with the BJP, Stalin is vying for a return to power in 2026. Not the national census, but its delay has handed Stalin another political delicacy on a platter. What makes it intriguing is the 'deliberate deferment' of the census to 2027, a year after the 42nd Amendment's freeze, which was designed to avoid penalising states (read southern states) with effective family planning and population control, expires in 2026. Unless there is a change initiated, the Constitution demands delimitation (the process of redrawing parliamentary and assembly constituency boundaries as per population data) based on the first census after 2026.
Hans India
24-05-2025
- Business
- Hans India
GST Council's next meeting likely to discuss rate rationalisation, compensation cess
With a focus on simplifying the indirect tax regime and addressing anomalies in the existing Goods and Services Tax (GST) rate structure, the GST Council is likely to take up rate rationalisation and the future of compensation cess in its next meeting. The meeting in New Delhi is anticipated to be convened soon, with states also pushing for clarity on their revenue outlook ahead of the next fiscal planning cycle. According to a report by NDTV Profit, citing sources, the issue of compensation cess — a levy initially introduced to offset revenue losses of states post-GST rollout — is also on the table, especially as its continuation beyond 2026 becomes a point of debate. Union Finance Minister Nirmala Sitharaman in March said that GST rates will be reduced further as the process of rationalising tax slabs is nearing completion. The revenue neutral rate (RNR), which was 15.8 per cent when GST was introduced in July 2017, has now come down to 11.4 per cent in 2023 and will decrease further. FM Sitharaman said that the work on simplifying GST slabs is almost finished and the GST Council, which is led by Finance Minister and includes state finance ministers, is expected to take a final decision soon. The Group of Minister (GoM) was set up in September 2021 to suggest changes in GST rates and slabs. This committee consists of finance ministers from six states and has been working on making the tax system more efficient. The rationalisation process includes reducing the number of tax slabs, streamlining rates, and addressing key concerns raised by different industries. The Union Minister further emphasised that a final review is underway before presenting the proposal at the next GST Council meeting. The gross GST collections for April stood at Rs 2.36 lakh crore, marking a 12.6 per cent increase over the gross collection of Rs 2.10 lakh crore in April 2024. The record GST collection in April showcases the resilience of the Indian economy and the effectiveness of cooperative federalism.
Business Standard
20-05-2025
- Business
- Business Standard
Hindustan Foods edges higher after Q4 PAT rises 34% YoY; crosses Rs 100-cr PAT mark in FY25
Hindustan Foods added 1.92% to Rs 542 after the company reported 34% rise in consolidated net profit to Rs 30.7 crore on a 27% increase in total revenue to Rs 936.3 crore in Q4 FY25 over Q4 FY24. Total operating expenses for the period under review added up to Rs 856 crore, up 28% YoY. EBITDA improved by 25% to Rs 80.3 crore in the fourth quarter from Rs 64 crore recorded in the same period last year. Profit before tax in Q4 FY25 stood at Rs 40.6 crore, up by 47% from Rs 27.7 crore in Q4 FY24. For FY25, Hindustan Foods has registered a consolidated net profit of Rs 109.6 crore (up 18% YoY) and total revenue of Rs 3,578.9 crore (up 30% YoY). The company stated that the strong performance in seasonal categories such as ice cream and beverages drove turnover to a record high. The shoe business recorded operational profit in Q4 FY25. The company launched commercial operations at its expanded facilities in Mysuru (Beverages) and Lucknow (Ice Cream), strategically timed to meet peak seasonal demand. It commenced commercial production at the new greenfield ice cream plant in Nashik in May 2025, enhancing capacity to serve a key new customer. The board of Hindustan Foods has granted its approval to acquire a significant minority stake in The Kabadiwala, a leading player in plastic scrap collection and recycling. Ganesh Argekar, executive director, said: From an operational standpoint, we delivered our highest-ever volumes across our beverages, ice creams, and footwear segments. This was achieved despite ongoing deflationary pressures and persistent volume softness in other categories. Our supply chain teams worked tirelessly to ensure efficiency and output even under challenging conditions. Specifically, the shoe business had a good quarter, and we are cautiously optimistic that we should be out of the woods now. While the division had the highest ever turnover in this FY, importantly, the new investments have started yielding results and we are confident that with the support of our customers, we should be able to turn around the business completely in FY26. Our bet on the beverage segment is finally paying off with Mysuru recording its highest ever output. We are eager to expand in this segment and continue to look for new opportunities. We have some interesting developments in the OTC Pharma division and are eager to scale this up. Our Home and Personal Care categories continue to perform resiliently in the face of the headwinds of slowing consumption." Hindustan Foods (HFL) offers dedicated and shared manufacturing services to FMCG corporates who are looking to minimize costs while maximizing product quality in the post-GST environment. In 2013, Vanity Case India bought a controlling stake in HFL and since then, the company has diversified across various FMCG categories with manufacturing competencies in food & beverages, home care, fabric care, beauty & personal care, wellness & OTC pharma, leather & sports footwear, and household insecticides, amongst others.
News18
12-05-2025
- Business
- News18
Understanding The Flexi Staffing Industry: Growth, Taxation, And Benefits
Expert notes a 5.9% rise in flexi staffing jobs in FY24-25, boosted by GST, tax relief, social security, and upskilling. Authored by Lohit Bhatia, President of Indian Staffing Federation (ISF): Flexi staffing, commonly known as temporary workforce or contractual workforce, are those who are hired for a particular time period. In recent times, the new employment in the flexi staffing industry has surged massively. In the second quarter of FY24-25, the number increased to 5.9%, which shows a positive rise in new job opportunities. It attracts new talents to work with a dynamic and evolving workforce. In addition to the increased job demands, the flexi-staffing industry offers several benefits to its workers in terms of tax relief, social security, long-term financial benefits and more. Taxation framework Flexi-staffing companies, as service providers, are subject to the Goods and Services Tax (GST) regime in India. Research indicates that manpower supply services, including those provided by flexi-staffing firms, attract a GST rate of 18%. The introduction of GST has been a boon for the industry, with input tax credits enabling companies to reduce costs, thereby boosting growth. The staffing industry reported a 60% growth post-GST rollout, attributed to formalization and tax compliance incentives. advetisement However, with moving times, and GST collections doubling up, it's time to revisit the category of taxation for the staffing industry, thereby allowing more sectors to adopt formal employment structures, if they are using contract staffing, albeit with informal players. The Indian Staffing Federation (ISF) has engaged with policymakers, discussing reduced GST rates, indicating ongoing efforts to optimize tax structures. ISF reports suggest significant contributions, with member companies contributing to provident fund and ESIC, indirectly supporting tax collections. Other benefits For employees, the staffing industry offers opportunities to gain experience across multiple companies and projects, enhancing employability and career growth. Notably, the industry facilitates upskilling, particularly for freshers and dropouts, making them industry ready. Employees also benefit from formal employment perks, including registration under the Employees' Provident Fund Organization (EPFO) and Employee State Insurance Corporation (ESIC), ensuring social security and standard wages, distinguishing them from gig workers. Employers on the other hand benefit by engaging with formal players who ensure compliance and manage the workforce employed on their behalf. Conclusion Navigating the fiscal landscape of the flexi staffing industry requires a comprehensive understanding of tax obligations and other benefits. Moreover, the staffing companies play the critical role of matching job seekers and job givers free of charge to employees and enable mobilization, skilling, deployment and then compliances of such personnel. It is authored by Lohit Bhatia, President of Indian Staffing Federation (ISF). The views expressed in this article are those of the author and do not represent the stand of this publication. Watch India Pakistan Breaking News on CNN News18. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! Location : New Delhi, India, India First Published: May 12, 2025, 15:08 IST Latest News India Confirms Downing Of Pakistani Mirage Fighter Jet During Operation Sindoor | Video India Movies Fans Can't Get Enough Of Vijay Varma's Adorable And Hilarious Mother's Day Video Movies Shah Rukh Khan-Suhana's King Shoot Faces Delay Due To India-Pakistan Tensions: Report India 'It Is For Them To Answer...': Indian Army's Response To Pakistan's Misinformation Warfare Breaking News Omar Abdullah Exposed Pakistan's Propaganda, Questions "Shellings Near Religious Sites" | N18S latest news
