Putting rest to concerns whether the 1 July rollout of goods and services tax (GST) is possible, the GST Council finalised rates for various products and services over the last two days. Experts now feel the meeting the deadline will not be an issue, though there are a few more issues to be sorted out.
before ending the week at 30,464.92, showing a gain of 276.77 points or 0.92 per cent. It has gained by 606.12 points or 2.03 per cent in two weeks.
Tata Power Company reported a consolidated loss of Rs 246.9 crore in the fourth quarter of financial year 2016-17 after the company made a one-time exceptional payment of Rs 651 crore towards Tata Sons’ liabilities to DoCoMo. Excluding the DoCoMo payments, the company reported a profit of Rs 389 crore as compared with Rs 89 crore profit a year ago led by strong performance from the coal mines business in Indonesia that further offset the under recoveries from Coastal Gujarat Power that owns the Mundra project in Gujarat.
Budget carrier IndiGo has announced discounted fares under 'Summer Delight' sale offering tickets as low as Rs. 851 on select domestic routes. The last day to book tickets under the IndiGo offer is May 20. Bookings under the scheme can be done for travel between June 5 and September 30. The 851 IndiGo offer is valid on Bagdogra-Guwahati route only. The IndiGo offer is applicable on bookings made at least 20 days prior to travel dates mentioned in the promotional period across all booking channels. A search on the IndiGo's website showed the Rs. 851 fare available in mid-August period.
Grasim Industries on Friday reported a 72.7% (y-o-y) jump in its standalone net profit to Rs 315.5 crore on the back of a 12.4% (y-o-y) rise in revenue to Rs 3,116.6 crore and a 310 bps expansion in earnings before interest, taxes, depreciation and amortisation (EBITDA) margin to 16.9%. Both the top and the bottom lines of the Aditya Birla flagship, however, fell well short of Bloomberg consensus analyst estimates that had pegged revenue at Rs 3,641.3 crore and net profit at Rs 433.4 crore.
The Delhi High Court on Friday sought response from former telecom minister Dayanidhi Maran, his industrialist brother Kalanithi Maran and others, on an Enforcement Directorate’s (ED) appeal in the Aircel-Maxis money laundering case. Justice SP Garg also issued notice to Kalanithi’s wife Kaveri Kalanithi, Sun Direct TV and South Asia FM after ED challenged the special CBI court’s February 2 order that discharged Marans and the two companies of all charges for lack of evidence.
Economy class air travel will become cheaper with tax rate fixed at 5 per cent against the existing 6, under the upcoming Goods and Services Tax (GST) regime from July 1.
In a major development, the Delhi government has declared 89 villages here as urban areas which will help the authorities develop infrastructure projects in those localities. The Urban Development Department of the Delhi government issued a notification in this regard yesterday, after Lt Governor Anil Baijal approved the Delhi Development Authority’s (DDA) Land-Pooling Policy (LPP).
Paytm, India’s leading mobile wallet and payments company, aims to raise its valuation to $100 billion by the year 2025, its founder Vijay Shehkar Sharma said in an interview to CNBC TV18 after his company raised $1.4 billion from Japanese investor SoftBank in its largest funding to date. This happened just months after China’s Alibaba invested $177 million in Paytm Mall, Paytm’s marketplace business unit. Private equity player SAIF Partners also made a $23 million investment in Paytm Mall.
Motorcycles of more than 350 cc engine capacity will attract a total of 31 per cent tax under the GST regime, same as the tax incidence on private aircraft and luxury yachts.