BUSINESS
Maximum GST compensation cess rate for tobacco products capped
The cap is among the 75 amendments made in the Finance Bill, which was passed in Lok Sabha on March 24.
The compensation cess has been linked to the maximum rate of their retail sale price. As per the Finance Bill, pan masala will attract the maximum GST compensation cess of 51 per cent of the retail sale price per unit.
CoC stares at liquidation as IIHL and Torrent pause on bidding
The Supreme Court has listed the matter regarding the second auction for hearing in August. The Supreme Court on March 20 had admitted an appeal by Torrent Investments which was the highest bidder with Rs 8,640 crore against the lenders' decision to hold another round of auction. The court refused to stay the second round of the auction.
Indian-American exec pleads guilty to insider trading
Amit Bhardwaj, 49, the former Chief Information Security Officer at Lumentum Holdings Inc, traded on the misappropriated MNPI himself and tipped his associates with this same information so that they could place profitable trades in Lumentum's acquisition targets, a Department of Justice said in a statement.
Inflation in Pakistan reaches all time high of 46%
Major increase is observed in the prices of food items - tomatoes (71.77 per cent), wheat flour (42.32 per cent), potatoes (11.47 per cent), bananas (11.07 per cent), tea Lipton (7.34 per cent), pulse mash (1.57 per cent), tea prepared (1.32 per cent) and gur (1.03 per cent), and non-food items like georgette (2.11 per cent), lawn (1.77 per cent) and long cloth (1.58 per cent), Samaa TV reported.
Waiting for India's policy to offer OneWeb's satellite broadband services in country: Sunil Bharti Mittal
He also said India has a big role to play as regards OneWeb as the user terminals will be made in the country. Mittal also said the group is setting up two ground stations in India - one in Mehsana in Gujarat and the other in Madurai in Tamil Nadu.
Uncertainty, volatility to dominate last week of financial year's trading
Markets gained on two of the five sessions and lost on three. BSESENSEX lost 462.80 points or 0.80 per cent to close at 57,527.10 points while NIFTY lost 155 points or 0.91 per cent to close at 16,945.05 points. The broader indices saw BSE100, BSE200 and BSE500 lose 0.97 per cent, 0.93 per cent and 0.99 per cent respectively.
Govt working towards taking number of airports beyond 200 in 4 yrs: Scindia
"This effort will give equal importance to large metro airports as well as remote airports providing last mile connectivity," he said, while flagging off the first IndiGo Airline Delhi-Dharamshala-Delhi flight. Speaking on the occasion, Information and Broadcasting Minister Anurag Thakur thanked the Civil Aviation Ministry for.
Murugappa's Tube Investments and Premji Invest to acquire Lotus Surgicals
According to Tube Investments, Lotus Surgicals with a turnover of Rs 116 crore is into manufacturing and supply of surgical sutures and other medical devices. Tube Investments and Premji Invest will acquire Lotus Surgicals from India Medical Consumables Holdings Ltd, a Samara Capital entity, in an all cash deal.
FM reviews PSBs' performance amid banking crisis in US, Europe
The Finance Minister underlined that PSBs "must look at business models closely to identify stress points, including concentration risks and adverse exposures". Sitharaman also exhorted PSBs to use "this opportunity" to frame detailed crisis management and communication strategies.
Torrent Investments unlikely to participate in 2nd auction for Reliance Capital
This is likely to hurt the process to maximise returns from the sale because only the Hinduja Group may be left in the fray. Earlier, while opposing the extension of the auction, in a letter to RBI Deputy Governor M. Rajeshwar Rao, Torrent Investments had sought directions to Nageswara Rao Y, administrator of Reliance Capital.
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