Business
Pakistan Stock Exchange: KSE-100 Slips Below 166,200 as Selling Pressure Deepens for Second Straight Session | The Express Tribune
The Pakistan Stock Exchange witnessed yet another volatile session on Tuesday, with the KSE-100 index shedding 1,578.66 points, or 0.94%, to close at 166,173.75.
After opening on a slightly positive note, the index touched an intra-day high of 168,518.97, but selling pressure resurfaced, dragging the index down to an intra-day low of 165,997.21, nearly revisiting Monday’s bottom.
This marks the second consecutive session of downward movement, following a 0.73% drop on Monday. Despite early optimism, investor sentiment remained cautious, prompting widespread profit-taking across key sectors.
The KSE-100’s inability to sustain gains and its retreat to the 166,000 level highlights the market’s current fragility. With no strong triggers in sight, the index appears to be in a consolidation phase, hovering around key support zones.
Additionally, sentiment remained cautious over the State Bank of Pakistan’s (SBP) Governor Jameel Ahmad’s assertion that inflation is holding steady, although further interest-rate cuts will depend on the impact of the recent floods and the outcome of an ongoing International Monetary Fund (IMF) review, Bloomberg reported.
Market participants remain on alert, watching for any economic or political cues that might break the ongoing selling streak.
Arif Habib Limited (AHL) observed that Tuesday was the second session of selling pressure with the KSE-100 trading down to Monday’s low of 166,000.
Some 26 shares rose while 73 fell with Habib Bank (+3.56%), Engro Fertiliser (+1.54%) and Askari Bank (+3.85%) contributing the most to index gains. On the flip side, Hub Power (-3.75%), Engro Holdings (-2.7%) and Lucky Cement (-3.09%) were the biggest index drags, it said.
In monetary news, the SBP Governor sees inflation holding steady, although further interest-rate cuts will depend on the impact of the recent devastating floods and the outcome of an ongoing IMF review.
We see that 166,000 is setting up as a key level for the index, which will need to immediately regain 167,200 to target the 170,000 level, AHL added.
Overall trading volume slightly decreased to Rs1.26 billion from Monday’s tally of 1.27b. Value of shares stood at Rs54.2b.
Shares of 487 companies were traded. Of these, 183 closed higher, 267 fell and 37 remained unchanged. Pakistan Telecommunication Company was the volume leader with trading in 189.7 million shares, falling by Rs0.27 to close at Rs31.14.
Business
Ineligible ITC refunds? Infosys issued Rs 415 crore showcause notice by DGGI; what the matter is about – The Times of India
Infosys, India’s second-largest IT services exporter, has been issued a showcause notice over alleged ineligible refunds. The GST Intelligence wing (DGGI) has reportedly served Infosys with a notice questioning their claim of input tax credit (ITC) refunds amounting to Rs 414.88 crore for service exports between 2018-19 and 2023-24.According to an ET report, the investigation was initiated based on information indicating that the technology giant had incorporated services delivered by its international offices and external contractors within its zero-rated export turnover from India, resulting in excessive refund claims under Section 54 of the Central GST Act, 2017.
Infosys served notice by DGGI
The DGGI’s investigation revealed that Infosys, which derives nearly 97% of its revenue from exports, submitted numerous refund applications across various GST registrations during this period. The organisation classified these transactions as outward taxable supplies (zero-rated) and sought refunds of accumulated ITC under Rule 89 of the CGST Rules, 2017, in conjunction with Section 20 of the IGST Act, 2017.In the GST framework, zero-rated supply denotes goods or services with a 0% tax rate. Businesses offering zero-rated supplies do not levy GST on their outward transactions but retain eligibility for ITC refunds on input costs, ensuring a tax-free supply chain.The ET report indicates that DGGI commenced their investigation based on confidential information suggesting Infosys had sought improper ITC refunds for services not genuinely exported. The questionable services reportedly involved work conducted by foreign branches and subcontractors for overseas client assignments.The investigation revealed that within Infosys, work performed at client locations overseas is designated as ‘Onsite’, whilst tasks completed at Indian development facilities are termed ‘Offshore’. DGGI contends that Infosys incorporated services delivered by its international branches and subcontractors into its export figures, thereby overstating refund claims on zero-rated supplies without IGST payment under the letter of undertaking scheme.
Business
Aadhaar Update Charges Revised From October 2025: Check How Much You Need To Pay For Address, Identity And Biometric Update
New Delhi: Aadhaar issuing body Unique Identification Authority of India (UIDAI) has announced hike in charges related to Aadhaar services. The revised charges are effective from 1 October 2025 to 30 September 2028.
UIDAI, in an office memorandum has given all the details pertaining to revised charges for Aadhaar related services.
Charges Effective for the period from 1.10.2025 to 30.9.2028:
| S. no. | Service | Rate of assistance to registrar* ( , incl. GST) | Fee to be collected from resident by registrar/service provider ( , incl. GST) |
| 1 | Aadhaar Generation of residents in 0-5 age group (ECMP/ UC or CEL Client enrolment) | 75 | Free of cost |
| 2 | Aadhaar Generation of residents more than 5 years age | 125 | Free of cost |
| 3 | Mandatory Biometric Update (5 to 7 years and 15 to 17 years) | 125 | Free of cost |
| 4 | Aadhaar Generation of residents more than 5 years age | – | 125 |
| 5 | Other Biometric Update (with or without Demographic Update) | – | 125 |
| 6 | Demographic update (update of one or more fields) in online mode or at Aadhaar Enrolment Centre using ECMP/ UCL/ UC/ CELC | – | 75 |
| 7 | PoA/PoI Document Update at Aadhaar Enrolment Centre | – | 75 |
| 8 | PoA/PoI Document Update through SSUP (myAadhaar) Portal | – | 75 |
| 9 | Aadhaar Search using eKYC/ Find Aadhaar/any other tool & colour printout on A4 Sheet | – | 40 |
Charges Effective for the period from 1.10.2028 to 30.9.2031
| S. no. | Service | Rate of assistance to registrar ( , incl. GST) | Fee to be collected from resident by registrar/service provider ( , incl. GST) |
| 1 | Aadhaar Generation of residents in 0-5 age group (ECMP/ UC or CEL Client enrolment) | 90 | Free of cost |
| 2 | Aadhaar Generation of residents more than 5 years age | 150 | Free of cost |
| 3 | Mandatory Biometric Update (5 to 7 years and 15 to 17 years) | 150 | Free of cost |
| 4 | Mandatory Biometric Update (7 to 15 years & more than 17 years) | – | 150 |
| 5 | Other Biometric Update (with or without Demographic Update) | – | 150 |
| 6 | Demographic update (update of one or more fields) in online mode or at Aadhaar Enrolment Centre using ECMP/ UCL/ UC/ CELC | – | 90 |
| 7 | PoA/PoI Document Update at Aadhaar Enrolment Centre | – | 90 |
| 8 | PoA/PoI Document Update through SSUP (myAadhaar) Portal | – | 90 |
| 9 | Aadhaar Search using eKYC/ Find Aadhaar/any other tool & colour printout on A4 Sheet | – | 50 |
UIDAI said the charges for Home enrolment services shall be 700 (including GST) and will be charged in addition to the normal fee applicable for demographic/biometric update in Aadhaar. If the service is availed by more than one resident at the same address (as per Aadhaar), 700 service charge (including GST) will be charged for first resident and Rs 350 (including GST) for each additional resident.
Heating engineers across Britain are being urged to take up the offer of a government-funded heat pump to install in their own homes, as part of efforts to roll out the clean technology.
Research and innovation firm Nesta is running a “start at home” initiative to provide heating engineers with a funded heat pump and training on how to install it, so they can learn the ropes before fitting the technology for customers.
The initiative comes after a pilot scheme by Nesta found supporting heating engineers to install their first heat pump in their home boosted their technical knowledge, understanding of living with the technology, and confidence in promoting them to customers.
Experts warn large-scale deployment of clean electric-powered heat pumps is key to replacing the widespread use of gas boilers in homes to reduce carbon emissions as part of targets to cut greenhouse gases to “net zero” by 2050.
That means installing round 450,000 heat pumps in existing homes a year by 2030, requiring 38,000 more installers trained and confident to install heat pumps before then, Nesta said.
The organisation said heat pumps were more efficient than gas boilers, potentially lowering energy bills, and tend to require less maintenance and last longer, keeping homes warm for years.
But Nesta pointed to research by the Department for Energy Security and Net Zero (DESNZ) suggesting only 27% of newly trained installers have gone on to complete an installation within a year, partly due to a lack of a confidence in the technology and the process of putting it in.
So the start at home scheme is being rolled out with partners across England, Wales and Scotland, providing heat engineers with heat pumps for their own homes and expert support, and putting them on the path to the accreditation needed to install the technology for customers under government schemes.
Madeleine Gabriel, Nesta’s director of sustainable future, said: “As more and more households look to switch their home heating, it will be all hands to the pump – and we want to help ensure that Britain’s heating workforce is ready to respond.
“Although lots of heating engineers are curious about heat pumps, many rarely get the chance to see one, let alone install one.
“The ‘start at home’ scheme changes that by beginning where it makes most sense – at home.
“Our message to all heating engineers is simple: secure your future by getting hands-on with the tech with installation yourself.”
Eric MacRae, a heating engineer who took part in the pilot which ran across Scotland, added: “I have confidence now that I’ve got one running in my own property that I have 24/7 experience of.
“Instead of giving people a spiel, I can now speak from personal experience of using it myself.
“It’s giving me an extra edge, and I feel that I can emphasise more of the advantages than I previously would have been able to.”
Ineligible ITC refunds? Infosys issued Rs 415 crore showcause notice by DGGI; what the matter is about – The Times of India
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