Economy news

• Most GST refunds may be processed within 17 days

  07-10-2026 02:04 via timesofindia.indiatimes.com
  
  The GST Council intends to shorten the refund processing period to around 17 days for businesses. It will also work to automate registering for a GST number to speed up the process. For small businesses operating in multiple states, avoiding repetitive registrations will be considered. Additionally, the proposal includes eliminating physical verification for registration cancellations. Changes will allow input tax credit on various business-related expenses to facilitate smoother operations.
  
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• Gold price prediction: What is the outlook for the yellow metal on October 9, 2026?

  09-10-2026 08:23 via timesofindia.indiatimes.com
  
  Gold price prediction today: MCX Gold December futures are witnessing a strong recovery, with prices trading around Rs 1,51,325 after breaking above the earlier consolidation zone near Rs 1,49,500–Rs 1,50,000.
  
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• Stock market volatility: What should investors do with their portfolios?

  09-10-2026 08:15 via timesofindia.indiatimes.com
  
  The natural question for investors at this point is what to do next. Sticking to their long term strategy is the best course of action, even when it takes real patience. Investors should also remember that the discomfort of waiting is a normal part of investing and not a sign of a wrong decision.
  
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• Rs 2 crore deposit, no ITR, Rs 2.51 crore addition; ITAT quashes because reassessment is 5 days late

  09-10-2026 06:33 via timesofindia.indiatimes.com
  
  The Income Tax Appellate Tribunal (ITAT), Chennai, has quashed a reassessment involving Rs 2.51 crore additionals after holding that the Income Tax Department had issued the reopening notice after the statutory time limit had already expired.
  
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• TCS says Trump's PERM suspension won't affect US plans, targets 15,000 new hires

  09-10-2026 05:29 via timesofindia.indiatimes.com
  
  Tata Consultancy Services (TCS) stated that the US government's suspension of the PERM programme would not affect its workforce strategy. The company emphasized its commitment to hiring local talent across its numerous offices in the US. TCS plans to increase its workforce in the US by hiring 15,000 employees over the next five years. The US government suspended the PERM programme as part of a crackdown on skilled-worker immigration.
  
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• Stock recommendations: Which stocks should you buy or sell on October 9, 2026?

  09-10-2026 05:13 via timesofindia.indiatimes.com
  
  Stock market recommendations: Axis Bank, and Authum Investment & Infrastructure Ltd have been recommended as the top stocks to buy today on October 9, 2026 by Hitesh Rathi, Technical Analyst (Equity & Derivatives) at Angel One.
  
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• Air India group and Akasa hike fuel surcharge

  09-10-2026 03:36 via timesofindia.indiatimes.com
  
  IndiGo, Air India, and other airlines have announced increased fuel surcharges for both domestic and international flights. The new surcharges reflect a range that varies based on the distance of travel involved. Airlines cite rising operational costs primarily attributed to escalating aviation turbine fuel prices. This situation coincides with a decline in air traffic as passengers seek more affordable transportation options.
  
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• As HDFC Bank CEO, Bagchi set for 36 crore target pay

  09-10-2026 03:30 via timesofindia.indiatimes.com
  
  Anup Bagchi will assume the role of MD and CEO of HDFC Bank on October 27. His target annual compensation is set at Rs 35.9 crore, with potential total pay reaching Rs 43.2 crore. The compensation package includes a fixed pay of Rs 9 crore and a variable pay component capped at Rs 26.9 crore. Bagchi's pay significantly surpasses his previous compensation at ICICI Prudential Life.
  
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• India joins US-led group on structural excess capacity

  09-10-2026 03:22 via timesofindia.indiatimes.com
  
  India has officially joined a coalition with the US and several other economies to tackle excess capacity. This coalition focuses on five sectors, including automobiles and semiconductors, that are primarily dominated by China. Countries in this group aim to coordinate actions against non-market practices that disrupt global markets. They plan to meet at a technical level before December 2026 to discuss their findings and strategies.
  
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• MDR on UPI may now take effect in January 2027

  09-10-2026 03:20 via timesofindia.indiatimes.com
  
  The rollout of the merchant discount rate on UPI transactions has been postponed to January 2027. This decision follows requests from trade bodies concerned about potential impacts on festival season sales. The new fee structure was originally set to take effect on October 15, giving stakeholders only a month for preparations. The framework includes a 0.4% charge for transactions above Rs 2,000, but many transactions will remain fee-free.
  
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• Faceless system in place for central GST payers

  09-10-2026 03:16 via timesofindia.indiatimes.com
  
  Finance Minister Nirmala Sitharaman unveiled a faceless GST system to streamline processes for two lakh taxpayers. This new system follows significant rate cuts that reduced the effective GST rate across goods and services. A working group submitted a report to implement a centralized tax administration for multiple CGST jurisdictions. This initiative aims to improve taxpayer experiences similar to reforms in income tax administration.
  
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• Perfect storm: Sensex slips amid rising oil, bond yields

  09-10-2026 03:10 via timesofindia.indiatimes.com
  
  Brent crude prices surged to over $105 per barrel, affecting the Indian stock market negatively. The Sensex dropped 1,045 points, significantly impacting investor wealth by Rs 10 lakh crore. Foreign portfolio investors sold stocks worth approximately Rs 13,000 crore, marking a high level of outflows. The ongoing market decline has led to a nine-week losing streak, which could become the longest on record.
  
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• Starlink entry row: Is Ambani the real boss of India, asks Elon Musk

  09-10-2026 00:05 via timesofindia.indiatimes.com
  
  Elon Musk has raised concerns about regulatory obstacles facing Starlink's introduction in India. He claimed influential figures might be hindering the process and questioned if Ambani controls the situation. In response, India's government reaffirmed its fair and non-discriminatory approach, rejecting Musk's allegations. Other companies like Reliance Jio and Eutelsat OneWeb are also vying for approval to offer satellite services.
  
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• GST Council scraps tax officers' arrest powers, eases refund rules

  08-10-2026 23:51 via timesofindia.indiatimes.com
  
  The GST Council has proposed major procedural changes to enhance business operations and tax compliance. These reforms aim to streamline registration, refunds, and input tax credit processes while lowering compliance costs. Additionally, the council will remove officers' powers for arrests under the GST framework. Processing of refunds will be expedited, with a goal to resolve claims within three days.
  
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• US sanctions Indian firms, individuals as Iran oil crackdown widens

  08-10-2026 21:50 via timesofindia.indiatimes.com
  
  On Thursday, the United States targeted two Mumbai-based companies over their alleged oil trade involvement with Iran. The sanctions affected five Indian nationals connected to SSPL Solutions Private Limited and Samudra Marine Services Private Limited. These measures are part of a broader crackdown on Iran under 'Operation Economic Outcast'. The U.S. government aims to curb Iranian oil revenues fueling military and cyber activities.
  
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• Woman claims 2.5 acres was ancestral after stepmother sold it; why HC rejected plea

  08-10-2026 18:41 via timesofindia.indiatimes.com
  
  The Madras High Court held that the property was not ancestral but self-acquired. As a result, under Hindu law, the man and his mother were legally entitled to execute the gift settlement deed in favour of the man’s second wife, who could subsequently sell the property.
  
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• GST reforms: Top things announced by FM Sitharaman-led GST Council & what they mean for businesses

  08-10-2026 16:38 via timesofindia.indiatimes.com
  
  The GST Council approved a series of changes aimed at easing compliance, including removing the power of tax officials to make arrests and raising the prosecution threshold fivefold to Rs 5 crore. FM Nirmala Sitharaman said the GST Council had largely dealt with anomalies arising from input tax credit (ITC) and addressed the issue of duty inversion.
  
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• As Trump sours H-1B visa dream, which Indian IT professionals face biggest hit?

  08-10-2026 15:41 via timesofindia.indiatimes.com
  
  Three H-1B related changes are stacking on top of each other: the multiple $100,000 fee proposals, the wage-weighted lottery favoring more senior workers, new layoff and compliance scrutiny, and now the OPT/STEM-OPT $70,000 fee proposal for students looking to work in the US. The pathway is set to become much narrower or worse may even disappear!
  
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• GST Council scraps tax officers' arrest powers; prosecution threshold raised to Rs 5 cr

  08-10-2026 14:01 via timesofindia.indiatimes.com
  
  The GST Council made a landmark decision by abolishing the arrest powers of tax officers. They've raised the prosecution threshold from Rs 1 crore to Rs 5 crore, easing the pressure on small sellers using e-commerce platforms. Union Finance Minister Nirmala Sitharaman announced that notices under Rs 10,000 will no longer be issued, aimed at promoting better GST compliance and alleviating burdens on small businesses.
  
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• Tcs Q2 Results: TCS profit jumps 15% to ₹13,884cr, AI revenue tops $3.1bn; board announces ₹12 dividend

  08-10-2026 13:35 via timesofindia.indiatimes.com
  
  Tata Consultancy Services has reported a notable 15% surge in net profit for the September quarter, achieving Rs 13,884 crore. The operations revenue grew by 11.22% year-on-year, hitting Rs 73,188 crore. AI revenue also surpassed $3 billion, contributing over 10% to the total income. With 4,258 new hires, TCS's workforce now stands at 5,98,056 and an attrition rate of 13.3%.
  
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• India's GDP is booming, but stock market is crashing: What's going wrong?

  08-10-2026 12:49 via timesofindia.indiatimes.com
  
  India is experiencing impressive GDP growth of 7.8%, while the World Bank revises its growth outlook to 7.1%. Yet, Dalal Street faces turbulence as benchmark indices suffer losses exceeding 1%. This is largely due to foreign investors offloading shares and rising bond yields globally, fostering a cautious sentiment in the market.
  
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• AI regulation consultation paper next month, says IT minister Vaishnaw

  08-10-2026 12:22 via timesofindia.indiatimes.com
  
  Union minister Ashwini Vaishnaw announced plans for a Consultation paper on AI regulations to address specific concerns. The focus will include AI safety, deepfakes, user harm, and the need for skilling. The government aims to establish a regulatory framework while involving various stakeholders in the process. This initiative follows recent amendments in IT Rules to combat AI-generated harmful content more effectively.
  
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• Mumbai-Pune in 48 min, Delhi-Varanasi under 4 hours: 7 bullet train routes

  08-10-2026 11:31 via timesofindia.indiatimes.com
  
  Seven new bullet train corridors in works: In the coming years, Indian Railways is looking to make that a reality with seven new bullet train corridors in the works. Bullet trains typically operate at speeds of around 300 kmph, while some definitions of high-speed rail cover services operating at around 220-250 kmph.
  
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• RBI rate hike impact: Bond yields may hold near 7.25% after policy shift

  08-10-2026 10:36 via timesofindia.indiatimes.com
  
  In a significant policy change, the Reserve Bank of India has upped its key interest rate to 5.50% with a 25 basis point hike, the first in nearly four years. This adjustment reflects a shift to a calibrated tightening approach, hinting at potential future increases. However, contrary to market expectations, no new liquidity measures were introduced.
  
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• No MDR on UPI from October 15? Government considers delaying rollout of fees: Report

  08-10-2026 09:51 via timesofindia.indiatimes.com
  
  MDR on UPI: Last month, the government ended the zero-fee regime for UPI by allowing merchants to be charged 0.4% on transactions above Rs 2,000. UPI is used by more than 500 million people across the country for payments ranging from roadside cups of tea to iPhones. The chargeis scheduled to take effect on October 15, coinciding with the annual festive season.
  
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• Gold price prediction: What is the gold price outlook on October 8, 2026?

  08-10-2026 09:05 via timesofindia.indiatimes.com
  
  Gold price prediction today: Gold and silver prices are expected to trade with a negative bias in the coming days. On the lower side, MCX Gold is expected to gradually move towards the Rs 1,45,000 level, which remains the key downside target. A decisive break below the immediate support zone could accelerate the decline towards this level.
  
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• Why BSE Sensex, Nifty50 are crashing on October 8, 2026? Top reasons

  08-10-2026 08:43 via timesofindia.indiatimes.com
  
  Stock market crash today:At around 12:02 PM, Nifty50 was trading at 22,357.85, down 245 points or 1.08%. BSE Sensex was at 71,947.85, down 691 points or 0.95%. Sustained selling in large-caps by the FIIs have contributed significantly to this trend. With the US 10-year bond yield hovering above 5.3%, FIIs will continue to sell on every rally.
  
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• Russia eyes return to Europe's gas market despite sanctions, Ukraine war: Report

  08-10-2026 08:39 via timesofindia.indiatimes.com
  
  Reports indicate that Russia is looking to reestablish gas supplies via the Nord Stream pipelines by negotiating with US investors, including Jared Kushner and a Russian adviser to Putin. This effort faces formidable challenges due to existing US and EU sanctions. Germany has taken a hard line against restoring gas imports while evaluating its military readiness regarding Russia. Additionally, the complexities surrounding gas ownership could impede any potential agreements.
  
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• Man got leave encashment, but exemption limit was hiked later; ITAT allows full Rs 12.27 lakh relief

  08-10-2026 08:31 via timesofindia.indiatimes.com
  
  The ITAT Chennai bench viewed the increase from Rs 3 lakh to Rs 25 lakh as an enhancement of an existing benefit, rather than the creation of a new exemption. The Tribunal also found the change beneficial and remedial in nature and said it was intended to reduce hardship and bring parity between government and non-government employees.
  
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• Rupee rises 10 paise against US dollar: What is supporting the currency?

  08-10-2026 06:26 via timesofindia.indiatimes.com
  
  The rupee opened at 96.71 against the dollar but improved to 96.65 thanks to intervention from the Reserve Bank of India. External factors, like a robust US dollar and climbing crude oil prices, are still putting pressure on the currency. Additionally, India's forex reserves are diminishing, leading to unease about the rupee's consistency.
  
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