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BusinessIndian banks will face an 18% GST on taxable services provided by NBFCs in co-lending arrangements. However, interest on the underlying loan remains exempt from GST. A committee decided to align the valuation of NBFC services with the Reserve Bank of India's prescribed methodology, clarifying the tax treatment in these partnerships.
Economic Times·
BusinessAkash Ambani, Chairman of Jio, stated that the Jio IPO marks not just the company's stock market listing but the start of a new growth journey. He emphasized the significant responsibility towards shareholders. After nearly three decades, Reliance Group's first public offering will focus on continuous growth and value creation for shareholders, while maintaining affordable services for customers.
News18Hi Business·
EntertainmentVeteran actor Nana Patekar died of cardiac arrest at his Goa residence. Hours after his death, a video from his last public appearance at the Samraat Club International installation ceremony in Dona Paula emerged. In the video, he reflected on life and time, mentioning his close friend, former Goa CM Manohar Parrikar, and questioned if he was doing enough with his time.
NDTV Movies··Dona Paula
WorldYemen’s Iran-aligned Houthi group claimed a ballistic missile attack on King Khalid International Airport in Riyadh, Saudi Arabia. The attack followed Saudi reports of a fatal strike earlier in the week. Explosions were heard across Riyadh amid ongoing conflict. India condemned recent attacks on Saudi airports, calling targeting civilian infrastructure unacceptable.
Firstpost World··Riyadh
EntertainmentThe official trailer release date for Vijay Deverakonda and Rashmika Mandanna's highly anticipated film 'Ranbali' has been announced. The trailer, releasing on October 8 at 6:03 PM, will be 3 minutes and 47 seconds long, making it the longest trailer in Telugu cinema. The film is set to release on Dussehra, October 16.
News18Hi Entertainment·
PoliticsThe 8th Pay Commission has started discussions in Bengaluru on salary, allowances, and pensions for central government employees, focusing on Levels 6 to 8. The meetings cover employee compensation and work conditions. After finalizing its report, the Commission will implement salary revisions, with dearness allowance calculations based on the updated salaries.
Economic Times··Bengaluru
Economic Times·
Indian banks will face an 18% GST on taxable services provided by NBFCs in co-lending arrangements. However, interest on the underlying loan remains exempt from GST. A committee decided to align the valuation of NBFC services with the Reserve Bank of India's prescribed methodology, clarifying the tax treatment in these partnerships.
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