BUSINESS
Centre tweaks airfare cap rules, gives more pricing freedom
According to the Ministry of Civil Aviation, the fare band will now only be applicable for a 15-day cycle. Notably, the ministry in an order issued on Saturday said that if the fare cap applicability date starts from September 20, the fare bands shall be applicable till October 4. However, any booking done on September 20 for travel on or after October 5 shall not come under the fare bands.
Global Anxieties: Rupee to be under tapering fears (IANS Currency Outlook)
Experts opined that US FOMC meet will instil tapering fears, at the same time, imports are expected to rise on weaning impact of Covid 2.0.
Cryptocurrency Hyper Fund under govt scanner
Sources said Hyper Fund, a DEFI by Hyper Tech Group has come under the radar recently. The Group claims to have launched the Hyper Fund to provide a decentralized financial infrastructure. Hyper Fund was announced in mid-2020.
Greed & Fear: Profit booking, global volatility to impact stock moves (IANS Market Forecast)
Accordingly, market observers, pointed out high possibility of profit booking led slide on the back premium valuations and likely absence of positive domestic triggers.
Deadline for PAN-Aadhaar linkage extended till March 2022
"The Central Government, in continuation of its commitment to address the hardship being faced by various stakeholders on account of the Covid-19 pandemic, has, on consideration of representations received from various stakeholders, decided to extend timelines for compliances under the Income-tax Act, 1961," CBDT said in a statement late on Friday night.
Covid might shift India's growth model
In its Ecoscope report, Motilal Oswal Financial Services, said: "With Covid-19 hurting India's 'Household' (HH) and 'Government' sectors adversely, the continuity of strong consumption growth is in question."
GST Council rejigs some rates, extends cess levy, petroleum still out
It also decided to correct inverted duty structure in footwear and textile sectors while deciding to treat food delivery apps such as Zomato and Swiggy as restaurants, thereby, becoming responsible to pay 5 per cent GST on supplies made by them. However, the new system will not make meals dearer since no new tax component has been added.
Parties in commercial litigation should avoid filing mindless appeals, says SC
A bench of Justices Sanjay Kishan Kaul and Hrishikesh Roy said: "In carrying on commercial litigation, parties must weigh the commercial interests, which would include the consequences of the matter not receiving favourable consideration by the courts. Mindless appeals should not be the rule." The bench noted that tender jurisdiction was created for scrutiny of commercial matters.
Council rejigs some rates, extends cess levy, petroleum still out
It also decided to correct inverted duty structure in footwear and textile sectors while deciding to treat food delivery apps such as Zomato and Swiggy as restaurants, thereby, becoming responsible to pay 5 per cent GST on supplies made by them. However, the new system will not make meals dearer since no new tax component has been added.
Majority of Council opposed bringing petroleum products under GST: Sitharaman
Addressing the media after the conclusion of the Council's 45th meeting and the first held in a physical format after start of the Covid-19 pandemic, she said that the issue was deliberated at the meeting, after it was added to the agenda at the last moment on the back of a Kerala High Court order. The Council members did not see find the current situation appropriate to bring petroleum products under the GST.
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