Top Headlines: TDS levy on cryptos, GST rate of 200 items, and more

From TDS levy on cryptocurrencies to GST rate of over 200 items staying the same, here are the top headlines on Thursday morning

Transactions to paper trail: CBDT clears the air on TDS levy on cryptos

The Central Board of Direct Taxes (CBDT) has issued detailed guidelines on facilitating tax deducted at source (TDS) on virtual digital assets (VDA) or crypto assets, under which date of transfer and mode of payment will have to be specified. Read More

Fitment committee rejects demands to reduce GST rate on over 200 items

Ahead of the crucial Goods and Services Tax (GST) Council meeting next week, a committee of officials has proposed a change in GST rate for a host of items, including tetra-packs, even as it rejected demands for a reduction in levy over 200 goods and services to ease the inflationary burden on consumers. Read More

Account aggregator system for credit access all set to onboard GSTN, PSBs

The account aggregator ecosystem, which went live in September last year with an aim to democratise credit access in the country, is now looking to onboard the GST Network (GSTN). Read More

MPC members indicate more rate hikes to tackle rising inflation

The members of the monetary policy committee (MPC) of the Reserve Bank of India (RBI) indicated more interest rate hike in the coming months to tackle rising inflation, minutes of the June policy review rele¬ased on Wednesday showed. Read More

ITC's luxury project in Colombo hit by headwinds as Sri Lanka economy sinks

ITC’s first foreign venture in the hotel space – a premium and luxury mixed-use development – has been “adversely impacted” by Sri Lanka’s economic crisis, the firm said. Read More