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Biz EOD: No free rides home; special corona tax on alcohol; JSPL posts highest-ever exports

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

twitter-logoBusinessToday.In | May 5, 2020 | Updated 23:57 IST
Biz EOD: No free rides home; special corona tax on alcohol; JSPL posts highest-ever exports
Top stories from the world of business and economy

Government will charge up to Rs 1 lakh for the evacuation of stranded Indians from foreign countries. After the Delhi government levied a Special Corona Fee of 70 per cent on the MRP of the liquor sold, the Andhra Pradesh government has also increased taxes on liquor by up to 75 per cent. The Naveen Jindal-led Jindal Steel & Power Ltd (JSPL) said it has reported its highest-ever exports of steel and related products amid the lockdown in April. Read for more top stories from the world of business and economy:

1. Coronavirus outbreak: Rs 1 lakh to return home! No free evacuation for stranded citizens

Air India cannot afford to bring back passengers for free at a time when revenues have slumped due to coronavirus lockdown.

2. Tax on alcohol: More states to follow Delhi's 70% special corona fee on liquor

State governments hope for robust collection of taxes from alcohol amid a complete decline in revenues.

3. IPO not necessary, Jio Platforms eyes Rs 1.4 lakh crore strategic investment

By getting financial investors who could own additional 10 per cent of company, Reliance industries could reduce dependence on a future IPO for major cash infusions, a recent analyst report said.

4. GST: Now taxpayers can claim transitional credit until June 30

In the order passed today, the Delhi High Court held that period of 90 days for claiming input tax credit is directory and therefore, period of limitation of three years under the Limitation Act would apply.

5. Jindal Steel's export jumps 109% despite coronavirus lockdown

Jindal Steel & Power exported 2.48 lakh metric tons (MT) of steel and related products during April, registering a month-on-month growth of 109 per cent.

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