25 Aug 2025

The Goods and Services Tax (GST) Council is preparing to review a major change in India's indirect tax structure. The council, headed by the Union finance minister and comprising finance ministers from states and union territories, will meet in New Delhi to consider reducing the current four-tier system into a simpler two-slab structure. A Group of Ministers has already given in-principle approval to the plan, which proposes 5 % and 18 % rates, along with a 40 % levy on ultra-luxury and sin goods. The meeting will also deliberate on cess rationalisation and insurance-related relief.Read more

25 Aug 2025

Centrum Capital Ltd has announced the divestment of its entire stake in its affordable housing finance business, Centrum Housing Finance Ltd (CHFL), to new-age lender Weaver Services for INR 430 crore. The sale, which is subject to regulatory and shareholder approvals, is a strategic move for Centrum to streamline its operations and focus on its core businesses. For Weaver Services, an entity backed by prominent investors like Premji Invest, Lightspeed Ventures, and Gaja Capital, the acquisition provides a crucial entry point into India's booming affordable housing finance market.Read more

25 Aug 2025

Tembo Global Industries Ltd has successfully raised INR 316.7 crore through a mix of preferential equity and share warrants to fund its aggressive growth strategy. The capital infusion, which saw strong participation from promoters and strategic partner Mohammed Abdul Nayeem of Saudi Arabia's Masah Construction, will be used to scale up the company's EPC operations and accelerate its recent foray into the high-potential defence manufacturing and infrastructure sectors. This move aligns the company with the Indian government's 'Make in India' and 'Atmanirbhar Bharat' initiatives, positioning it as a key player in the nation's industrial build-out.Read more

24 Aug 2025

The Phoenix Mills has acquired the Canada Pension Plan Investment Board's (CPP Investments) 49% stake in their joint venture, Island Star Mall Development (ISMDPL), for a total of INR 5,449.16 crore. This strategic move, which has been approved by the Competition Commission of India (CCI), gives Phoenix Mills full ownership and sole control of ISMDPL. The acquisition will be funded over three years and is intended to consolidate ownership of key retail assets, enhancing operational flexibility and positioning the company for long-term growth.Read more

23 Aug 2025

EZTax launched a new version of its self-service income tax e-filing portal with artificial intelligence features designed to simplify filing, reduce errors, and save time. The update is expected to cut e-filing duration by about 30% while helping taxpayers find savings and ensure accuracy. EZTax, an authorised e-Return Intermediary since 2016, has steadily expanded its technology, including AI planning tools introduced in 2017. The platform supports a wide range of filings, from standard ITR forms to complex cases such as crypto, overseas income, and capital gains, serving both Indian residents and NRIs in over 42 countries.Read more

22 Aug 2025

The Panvel City Municipal Corporation (PCMC) has extended its property tax amnesty scheme until September 30, 2025. This decision, influenced by a protest rally from opposition parties, offers a 90% fine exemption until September 15, and a 75% rebate from September 16 to September 30. The extension replaces a four-tier system and aims to recover a significant portion of the INR 1,842 crore in outstanding property tax dues, which represents 47% of the civic body's 2025-26 budget.Read more

22 Aug 2025

The Kerala state cabinet has approved a loan of INR 1,500 crore from the Housing and Urban Development Corporation (HUDCO) through the Kerala Urban and Rural Development Finance Corporation (KURDFC) to fund the LIFE Mission housing scheme. The loan, spread over two years, will finance the construction of over 127,000 houses for homeless and landless families, with priority for Scheduled Caste and Scheduled Tribe beneficiaries. Alongside, the government has announced welfare measures such as Onam gifts for elderly tribal members and the creation of new teaching posts in nursing colleges to strengthen social support and education in the state.Read more

22 Aug 2025

The Indore Municipal Corporation (IMC) recently sealed 36 shops on the first floor of Siddhi Vinayak Market 2 on Jail Road due to non-payment of property tax and garbage collection fees. Officials clarified that the action followed repeated notices and ample time given to shopkeepers to settle their dues. Shopkeepers can have the seals removed by submitting registration documents, opening property tax accounts, and paying the pending amounts. The IMC emphasized that timely tax compliance is essential to maintain municipal services and infrastructure.Read more

22 Aug 2025

Weaver Services, a technology-driven housing finance company, has successfully raised approximately INR 1,482 crore (USD 170 million) in a new funding round. The investment was co-led by Lightspeed and Premji Invest, with additional participation from Gaja Capital. The funding will be used to acquire assets, enhance its technology platform, and expand its services to provide affordable housing finance to self-employed individuals in smaller Indian cities.Read more

22 Aug 2025

Cube Highways Trust, managed by Cube Highways Fund Advisors Pvt. Ltd., has completed a bond issue worth INR 820 crore through privately placed non-convertible debentures. The issue was split into two tenors, with bonds maturing in about three and a half years at a coupon of 6.93% and in ten years at 7.3015%. With this, fixed-rate borrowings now account for over 33% of the trust's obligations. The proceeds will mainly go towards repayment of existing borrowings. Backed by a strong investor base, the issue has received AAA/Stable ratings from leading credit rating agencies.Read more