GST rules to be overhauled; Govt talks to industry bodies : Bulletin: Business Today
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GST rules to be overhauled; Govt talks to industry bodies

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BusinessToday.In | August 29, 2020

IndiGo completes replacing Pratt & Whitney engines in A320neo fleet

IndiGo has reportedly completed mandatory replacement of Pratt & Whitney (PW) engines with modified engines in Airbus A320neo planes it operates before the August 31, 2020 deadline set by Directorate General of Civil Aviation (DGCA). IndiGo has 106 such A320neo aircraft fitted with PW engines in its fleet.

Coronavirus vaccine to be $6 billion market in India

The market for coronavirus vaccine in India could potentially be $6 billion in terms of sales for the coming three years. The public exchequer is expected to pay only about $2 billion to immunise just half the number of people needed to reach herd immunity levels, a global brokerage said. The report further adds that only 30 per cent of the country's approximately 1.3 billion population, would be immunised by the government with two doses. The remaining population will purchase the doses from the private market, it added.

China threatens to boycott iPhones, Apple products if 'WeChat' banned in US

China's foreign ministry spokesman has warned the United States authorities that Chinese consumers could ban or boycott iPhones, Apple products if WeChat is banned in the US. The statement comes after the US President Donald Trump announced a ban from next month for TikTok and WeChat accusing them of threatening national security.

COVID-19 impact: Coca-Cola to halve its operating units, offer voluntary separation to 4,000 workers

Coca-Cola Co on August 28 said it would nearly halve its operating units and offer voluntary separation to 4,000 workers including in the United States, as the world's largest beverage maker battles a hit to sales from the COVID-19 pandemic. The voluntary separation packages would also be offered to employees in Canada and Puerto Rico. The company will also cut jobs, but did not provide details on the total planned workforce reduction.

Decriminalising GST: Govt talks to industry bodies; rules to be overhauled

The government has kicked off mega overhaul of GST laws to decriminalise various offences. The move is set to bring cheers to the industry which has been complaining of harassment by tax authorities. Directorate General of Goods and Services Tax (DGGST) has written to some of the industry bodies seeking their inputs on decriminalisation of certain offences.

Elon Musk's net worth tops $100 billion, half of world's richest man Jeff Bezos

Silicon Valley entrepreneur Elon Musk's net worth topped $100 billion on Friday, according to the Forbes real-time billionaires list, as the shares of electric-car maker Tesla Inc see a more than five-fold surge in value this year. A large chunk of his wealth comes from the 21% stake in Tesla, according to Forbes. Tesla shares, which went public at $17 a piece in 2010, rose as much as 3.5% in morning trade to a record high of $2,318.49.

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