The council decided not to levy any additional tax on small petrol and diesel cars of up to 1200 cc as well as on hybrid ones.
No mention of cab aggregators in GST bills
Dr Nagesh Kumar, one of the three new MPC members, wanted the MPC to reduce the repo rate by 25 basis points to 6.25%.
Extending losses for 7th session, Nifty fell below the 8,000 mark for the first time since Nov 25
S&P BSE Midcap index and S&P BSE Smallcap were down 2% and 1.3% respectively
The Nifty has gained 2.6% so far this week, while the Sensex has climbed 2.85%
The stock was the worst hit among Sensex and Nifty components.
The comments from Das assume importance as the government for two consecutive terms have missed its fiscal deficit targets by 10 bps
Electricity has also been kept out of the GST ambit.
Experts said the builders will now factor in their losses arising from the removal of input tax credit when they pass on the benefits to end users while the latter may want the entire GST cut to be given to them.
The broader NSE Nifty, after shuttling between 10,649.25 and 10,782.30 points, finally settled 90.50 points, or 0.84 per cent lower at 10,663.50.
Market benchmarks Sensex and Nifty soared to new peaks on Tuesday, driven by gains mainly in metal, financial and IT stocks amid firm global cues and sustained foreign fund inflows. Tata Steel was the top gainer in the Sensex pack, surging 4.38 per cent, followed by Bharti Airtel 4.37 per cent, Vedanta 3.50 per cent, Tata Motors 3.03 per cent, HDFC 2.46 per cent and Bajaj Finance 2.39 per cent.After surging to its record intra-day peak of 41,401.65, the 30-share BSE barometer settled 413.45 points, or 1.01 per cent, higher at its all-time high of 41,352.17. Similarly, the broader NSE Nifty rallied 111.05 points, or 0.92 per cent, to its record closing high of 12,165.
The upcoming corporate results season and the approaching Union Budget kept investors on their toes
The premium on insurance policies will get costlier by 3 per cent to 7 per cent, depending upon the rate fixed by the GST Council from April 1, 2017, says Harjot Singh Narula.
The surge in export, domestic demand and public spending in infrastructure projects might revive private investment during 2017-18.
Surat houses more than 650,000 powerlooms. Of this, at least 60 per cent have been shut since a month, a loss of Rs 900 crore, finds out Vinay Umarji.
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The GST Bill, introduced in Parliament in 2010, is being vetted by the Standing Committee on Finance. Now, the states and the Centre would together finalise the draft and bring it back to Parliament.
Last week, a Rajya Sabha committee had allocated five hours for discussion on GST.
Financials were the top losers after sharp gains in the previous session along with ITC
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
The finance ministry has asked Infosys to provide within 15 days a plan for quick resolution of glitches on the GSTN portal, as it took strong note of the "unresolved" problems and "tardy" progress made over the last two years on multiple issues faced by taxpayers in filing returns. On Saturday, the revenue secretary A B P Pandey held a meeting with top Infosys officials on the persistent glitches seen on the GST network, and decided to ask Infosys chairman Nandan Nilekani to make an urgent presentation before the GST Council on March 14.
PM Modi on Sunday called upon states to "speed up capital expenditure and infrastructure creation" to spur economic growth.
"After the meeting which took place in Srinagar last week, it is safe to say that GST will be levied across the country starting July 1," Gangwar told ANI.
ICICI Bank extended yesterday gains, rising 10% in two trading sessions
Elections may be a few months away, but the government may get into election mode much earlier than that, predicts A K Bhattacharya.
Bharat Krishak Samaj demanded that the Pradhan Mantri Fasal Bima Yojana should be replaced with a new crop insurance and compensation scheme.
Finance Minister Arun Jaitley appealed to parties to rise above partisan considerations to support it.
The NCP said that all 3 MVA partners are united in running the coalition government in Maharashtra, but no decision has been taken so far on alliance for the 2024 assembly and Lok Sabha elections.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
The Supreme Court on Tuesday stayed the operation of a Delhi high court order holding as "unconstitutional" the imposition of the Integrated Goods and Services Tax (IGST) by the Centre on import of oxygen concentrators by individuals for personal use. A special bench of Justices D Y Chandrachud and M R Shah issued notice on the plea and sought response from the petitioner, who filed a PIL before the high court.
Results of some blue-chip companies exceeded expectations, providing additional thrust, traders said.
Most of the pharma units are failing in documentation, and validation processes, and many don't have full-fledged quality control laboratories.
Maharashtra Chief Minister Uddhav Thackeray met Prime Minister Narendra Modi on Tuesday and discussed issues related to the Maratha reservation, pending GST compensation and the proposed Metro car shed in Kanjur.
Pre-Budget excercise next month should scrupulously avoid adventurism of all types and refrain from making excessively ambitious projections on revenue and expenditure numbers for 2023-24, suggests A K Bhattacharya.
Govt doesn't buy restaurants' input tax excuse and has swing into action and looking into profiteering complaints on social media against prominent restaurant and franchise chains.
Group of ministers to review progress every fortnight.
Fiscal federalism should not be sacrificed at the altar of GST.
Jaitley, while reviewing the security situation of Jammu and Kashmir at a high level meeting, also asked the forces to deal firmly with the inimical elements but ensure safety of the innocent people, officials said.
The deposit has been made on account of the rate reductions approved by the GST Council in its November. The rate was reduced on items including shampoo, detergents, chocolates, beauty products, sanitary ware, leather clothing, cookers, stoves, after-shave, deodorant, detergent and washing power. Companies found it difficult to pass on the benefits to consumers immediately at the time of GST rate reduction owing to logistical issues.
Raghuram Rajan optimistic about passage of GST
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