Hindustan Levers Ltd, India's top consumer goods firm, is likely to report first-quarter net profit fell nearly 13 per cent and revenue dipped as distributors held off on new orders due to uncertainty over a new value-added tax.
Petrol price on Friday crossed the Rs 100- per-litre mark in Chennai as well as in some places in Punjab and Kerala after fuel prices were hiked yet again. Petrol is priced at over Rs 99 a litre in Delhi and Kolkata -- the only metro cities which haven't seen the Rs 100 mark yet. Petrol price was hiked by 35 paise per litre on Friday but there was no change in diesel rates, according to a price notification of state-owned fuel retailers.
A crucial meeting of the empowered committee on state-level value added tax will be held in New Delhi on Tuesday to thrash out the problems that have stalled the implementation of the system from April 1.\n\n\n\n
The nation-wide two-day bandh by traders against introduction of the much-touted value added tax evoked a mixed response on its opening day on Monday affecting commercial activities to a great extent.
Jet fuel prices on Monday were hiked by a steep 6.5 per cent on the back of a rally in international oil prices. Aviation turbine fuel or ATF price was hiked by Rs 3,663 per kilolitre, or 6.5 per cent, to Rs 59,400.91 per kl in the national capital, according to a price notification of state-owned fuel retailers. This is the third increase in jet fuel prices since February. Rates were increased by 3.6 per cent on February 16, and by Rs 3,246.75 per kl on February 1. The increase in rates will add to the margin woes of airlines who continue to operate flights at less than capacity, amid pandemic-driven travel restrictions.
CNG price in the national capital and adjoining cities on Tuesday was hiked by Rs 0.50 per kg, while an imminent increase in petrol and diesel price has been put on wait-and-watch mode for more clarity on global oil prices. CNG price in NCT of Delhi has been increased to Rs 57.51 per kg from Rs 56.51, according to the information posted on the website of Indraprastha Gas Ltd - the firm which retails CNG and piped cooking gas in the national capital. Following the firming up of international gas rates, IGL has been raising CNG rates by up to 50 paise (Rs 0.50) per kg periodically. Prices have gone up by about Rs 4 per kg this year alone.
In nine hikes, petrol price has gone up by Rs 5 per litre and diesel by Rs 4.87 a litre.
One of the grey areas is whether the anti-profiteering provisions can provide for a comparison of tax rates between the pre-GST and post-GST eras, says Niraj Bagri.
In one of the steepest increases since daily price revision was started, petrol price on Thursday was hiked by 25 paise per litre and diesel by 30 paise as oil companies raised rates for the third straight day to pass on to consumers the increase in international oil prices.
He also said GST will take about a year to stabilise.
Top military officers, including Chief of Defence Staff General Bipin Rawat, had been summoned to make presentations on military uniforms.
Petrol price on Tuesday was increased by 15 paise per litre and diesel by 18 paise as State-owned fuel retailers started passing on the increase in international oil prices to consumers after an 18-day hiatus.
The California-headquartered firm also updated MacBook Pro with Retina display with faster processors
In 13 hikes, petrol price has gone up by Rs 7.11 per litre and diesel by Rs 7.67 a litre.
AAP is working on its new strategy to build a strong organisational set-up with leaders from all sections of society, reports Nitin Kumar.
The OTT treasure is brimming again with tons of treats in various genres and languages. Sukanya Verma suggests what you can catch this week.
Talks with government officials on VAT waiver fails.
Airports levy charges such as FTC, infrastructure charge, and into-plane charges on sale of jet fuel. The levy is passed through to airlines, pushing up costs.
In 12 hikes, petrol price has gone up by Rs 6.55 per litre and diesel by Rs 7.04 a litre.
The Indian economy is on the path of a durable recovery on the back of conducive monetary and credit conditions, the global headwinds notwithstanding, said a Reserve Bank of India (RBI) article on the state of the economy. Domestically, there have been several positives on the COVID-19 front, in terms of reduced infections and faster vaccinations, the article published in the RBI Bulletin November 2021 added. The Indian economy, the article said, is clearly differentiating itself from the global situation, which is marred by supply disruptions, stubborn inflation and surges of infections in various parts of the world.
The bereaved son also expressed disappointment over the country's pompous 'VIP culture'.
In its essence, GST is a national level system of value added taxation of goods and services, says Shankar Acharya.
5 commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of GST's purview given the revenue dependence of state governments on these sectors.
All subsidies will be eliminated by March 2018
The Delhi high court has asked Delhi police to file a status report on a plea seeking a direction to authorities to take action against Facebook and its senior officials for their alleged criminal acts and 'digital conspiracy'. The court was informed by the counsel for the Delhi Police Commissioner and its Cyber Crime Cell that the complaint made by the company Vas Data Services, which was running its operations through its website www.yepme.com, has already been closed. Justice Anu Malhotra, in its March 24 order, asked the state to submit its status report in this regard before the next date of hearing and listed the matter for further hearing on April 15.
Four-time champions and title contenders India stormed into the Super League quarter-finals of the Under-19 World Cup after thrashing minnows Ireland by a whopping 174 runs in a league game.
Diesel rates had gone up by Rs 12.55 a litre between June 7, when oil firms resumed revising prices in line with cost, and July 25.
Parliament has passed a bill to extend the tenure of the director of the Central Bureau of Investigation (CBI) to a maximum of five years from the present two years.
If international crude oil prices zoom past the current level of about $90 per barrel and move towards $100 and beyond, middle-class consumers are not going to keep quiet about their discomfort, points out Arun Balakrishnan, former chairman and managing director, Hindustan Petroleum.
Petrol price was on Friday hiked by 75 paisa a litre and diesel by 50 paisa with effect from midnight tonight.
Petrol price in the national capital neared the Rs 85 a litre mark while diesel rates in Mumbai were close to Rs 82 as fuel prices were raised by 25 paise per litre each on Monday. Petrol now costs a lifetime high of Rs 84.95 per litre in Delhi while diesel comes for Rs 75.13, according to a price notification from oil marketing companies. The price hike on Monday came after three days of unchanged rates. Prices were last hiked by 50 paise a litre in two instalments on January 13 and 14.
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