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Biz EOD: KM Birla's Voda Idea concern; Maruti Suzuki recalls 60,000 cars; GST council may revamp tax structure

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twitter-logo BusinessToday.In        Last Updated: December 6, 2019  | 20:31 IST
Biz EOD: KM Birla's Voda Idea concern; Maruti Suzuki recalls 60,000 cars; GST council may revamp tax structure
Top stories from the world of business and economy

Aditya Birla Group Chairman Kumar Mangalam Birla said that the company would not put good money after bad and shut shop if the government did not give relief to Vodafone Idea. Maruti Suzuki India announced a recall of over 60,000 units of petrol Smart Hybrid variants of Ciaz, Ertiga and XL6 models, manufactured between January 1, 2019 and November 21, 2019. The GST council may consider revamping tax structure and raising the existing 5 per cent rate to 6 per cent to shore up the shortfall in collections. Read for more top stories from the world of business and economy:

1. Vodafone Idea crisis: 'Will shut shop if we don't get relief,' says Kumar Mangalam Birla

He echoed Vodafone Global CEO Nick Read who had said Vodafone Idea would head for liquidation if the government did not offer relief to the telcos.

2. Manufacturing capacity utilisation declines to 68.9% in Q2FY20, lowest since 2008

The slowdown in manufacturing activity was reflected in the decline in capacity utilisation to 68.9 per cent in Q2FY20 from 73.6 per cent in Q1, says RBI in its fifth bi-monthly monetary policy statement.

3. 5% GST rate may be hiked to 6% as govt looks to increase revenue

As of now, the GST has four slabs of 5 per cent, 12 per cent, 18 per cent and 28 per cent. The 5 per cent slab includes essential commodities such as food items, footwear and basic clothing.

4. Maruti Suzuki recalls over 60,000 units of these three cars; check out details

Maruti will inspect 63,493 vehicles of petrol SHVS of Ciaz, Ertiga and XL6 for a possible issue with the Motor Generator Unit. Vehicles requiring replacement of faulty part will be retained for part replacement free of cost.

5. Zomato to raise $500-600 million in next six months, says CEO Deepinder Goyal

Zomato Founder & CEO Deepinder Goyal said that the company has hired 2.5 lakh people in the last 18 months alone. He also added that the company now serves 48 million people every month.

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