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BusinessToday.In
July 8, 2018
Last month, petroleum prices were cut 14 times after hitting an all-time high of Rs 78.43 a litre for petrol and Rs 69.31 for diesel on May 29. Petrol price dropped by Rs 2 a litre and diesel by Rs 1.46.


BusinessToday.In
New Delhi, July 6, 2018
As of now, petroleum products including petrol, diesel, crude oil, natural gas and aviation turbine fuel (ATF) have been exempted from the GST.


BusinessToday.In
New Delhi, July 5, 2018
The three state-owned fuel retailers, IOC, Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) had not revised petrol and diesel prices since June 26 before which it was on a steady decline.


Virendrasingh Ghunawat
July 1, 2018
Thousands of GST officials from CGST office have decided to stay away from the one year GST celebration across the country. It indicates though the BJP government is trying to make it a bigger celebration event, everything is not okay within the taxmen fraternity who alleges pressure from seniors to meet the targets.


BusinessToday.In
New Delhi, June 29, 2018
As the Goods and Services Tax at the brink of completing its first year in operations, here's a look at what the taxpayers expect the unified indirect tax regime to achieve.


PTI
New Delhi, June 29, 2018
If petrol, diesel are to be brought into GST, then states will be allowed the levy taxes on top of 28 per cent to prop up revenue. It will take some time to include petrol, diesel in GST as the states have divergent views, Modi said.


Anilesh S Mahajan
New Delhi, June 27, 2018
In the face of widespread criticism over its decision to tax petroleum products heavily, interim finance minister, Piyush Goyal blamed the UPA and its mismanagement of finances.


BusinessToday.In
New Delhi, June 27, 2018
Now apply for passport from anywhere in India: MEA  External Affairs Minister Sushma Swaraj has launched a new scheme under which a person can apply for a passport from anywhere in India irrespective of the place of stay. She also launched a mobile application, available in Android and iOS platforms, that would have the facilities for applying, paying and scheduling appointments for acquiring a passport. A person can now choose the Regional Passport Office (RPO) and the Passport Seva Kendra (PSK) or Post Office Passport Seva Kendra (POPSK) for submitting the application.The police verification, if required for a specific passport, would be conducted at the address specified in the application form.NPA situation likely to worsen further, says RBI  Painting a gloomy picture of the banking sector, the RBI today said gross bad loans as percentage of total advances of banks are likely to rise from 11.6 per cent in March 2018 to 12.2 per cent by the end of the current fiscal. In its Financial Stability Report (FSR), the RBI said stress in the banking sector continues as gross non-performing advances (GNPA) ratio rises further. Referring to the 11 state-owned banks under prompt corrective action framework (PCA), the RBI said they may experience worsening of their GNPA ratio from 21 per cent in March 2018 to 22.3 per cent by this fiscal-end.Ajay Chitkara appointed CEO of Airtel Business  Telecom major Bharti Airtel today said it has appointed Ajay Chitkara as director and CEO of its business-to-business arm - Airtel Business. The company also moved Bharti Infratel chief financial officer Pankaj Miglani as CEO of Global Business. Chitkara has been with Airtel since 2001 and is credited with building brand Airtel in the global wholesale segment. The company said that Global Business arm of Airtel grew in topline to become a billion dollar business, while cash flow margins jumped five-fold since 2013 under Chitkara. In his new position, he will continue reporting to Gopal Vittal, MD and CEO - Bharti Airtel.India's largest telecom entity will be known as Vodafone Idea LtdKumar Mangalam Birla's Idea Cellular and Vodafone India will soon be known as Vodafone Idea Limited. Both the telecom operators are in the process of merging their businesses, and the approval for merger by the Department of Telecom is in final stage. On Tuesday, the shareholders of Idea Cellular approved the name 'Vodafone Idea Limited' for the new -- after merger-- entity.  The change in the name will be effective post completion of merger of Vodafone India and Idea Cellular. Vodafone is expected to own 45.1 per cent, 26 per cent by Aditya Birla Group and Idea shareholders will own 28.9 in the combined entity. Govt to include natural gas, jet fuel under GST in next Council meeting on July 21Petrol and diesel prices will continue to burn a hole in your pocket as the government has no immediate plan to include it under the GST net. The GST Council, which will meet on July 21, however, may give its nod to include 'natural gas' and 'aviation turbine fuel' under the indirect tax regime. Finance Secretary Hansmukh Adhia confirmed to PTI that the next GST Council meeting could decide on including these two items under the Goods and Services Tax. EPFO members can withdraw 75% funds after 30 days of job lossRetirement fund body EPFO on Tuesday decided to give its members an option to withdraw 75 per cent of their funds after one month of unemployment and keep their PF account with the body. The members would also have an option to withdraw remaining 25 per cent of their funds and go for final settlement of account after completion of two months of unemployment under the new provision in the Employee Provident Fund Scheme 1952.


BusinessToday.In
New Delhi, June 26, 2018
A reason the government wants to include jet fuel and natural gas under the GST is low tax incidence on them, which is a safe bet for the government as they can be easily accommodated in the five-slab tax system.


BusinessToday.In
New Delhi, June 25, 2018
Fuel prices continued to either dip or remain stagnant from May 30. On Sunday, petrol prices across the country were slashed by 14-17 paise, while diesel fell by 7 paise.


BusinessToday.In
June 20, 2018
The tax structure for petrol and diesel is likely to be a peak tax rate of 28 per cent plus states levying some amount of local sales tax or value added tax (VAT).


BusinessToday.In
June 19, 2018
The upcoming OPEC/non-OPEC Joint Ministerial Monitoring Committee meeting in Vienna on June 22 will play a major role in determining the trajectory of fuel prices here on.


BusinessToday.In
June 19, 2018
The Tata Nano is all set to come in a new avatar, the all-new Jayem Neo EV. Not only that, the new Nano will also be incorporated in the cab service company Ola, where 400 units of the new car will initially be supplied.


BusinessToday.In
New Delhi, June 18, 2018
Nirav Modi holds six Indian passports; agencies to file fresh FIRAbsconding jeweller Nirav Modi, wanted in the Rs 13,600 crore PNB fraud case, is reported to be in the possession of at least six Indian passports and the investigative agencies are likely to file a fresh FIR against him for this offence, senior officials confirmed. It is a criminal offence to possess more than one valid passport and also to use a revoked passport. Modi, who was earlier holed up in the UK, is now reported to have flown to Belgium, according to Indian intelligence agencies. His move to Belgium follows the pressure that India was building up on the Theresa May government to get him extradited. Challenge before government is to take growth rate to double digit: PM Modi at Niti AayogThe challenge before India is to take the economic growth rate to double-digits for which many more steps need to be taken, Prime Minister Narendra Modi told a meeting of chief ministers. Speaking at the Niti Aayog's fourth meeting of Governing Council, Modi stressed that the world expects India to become a USD 5 trillion economy soon. As many as 23 chief ministers and one Lt Governor attended the meeting. The notable absentees however were chief ministers of Odisha, Jammu and Kashmir and Delhi.Walmart deal will be cancerous to retail trade, says CAIT  The Walmart-Flipkart deal will be cancerous for the Indian retail industry, the Confederation of All India Traders (CAIT) has said in a letter to Finance Minister Piyush Goel. CAIT said today that its letter has also drawn the attention of Goel towards the inaction of the Commerce Ministry for not taking any steps so far in connection with Walmart Flipkart deal, despite sending communication to the trade minister. The trade body also apprehended that if no action is taken, other foreign e-Commerce majors like Amazon and Alibaba will also engage companies like Flipkart and the result would be consolidation of retail trade in very few hands which will be detrimental to offline retailers. The e-Commerce spectrum will also be vitiated to a great extent, it added.Trump favors long strike in Washington Post  US President Donald Trump has supported a proposed strike by The Washington Post workers demanding an increase in their salaries and other benefits, saying a really long strike would be a great idea. The President has been at loggerheads with several US mainstream media outlets, including the CNN, ABC News, The New York Times and the Washington Post. He has quite often described these popular media houses as \"fake media\".More than 400 employees of the Post have written to Amazon head Jeff Bezos seeking an increase in their salaries. Bezos owns the leading US daily.Almost 1 mn people 'testing' WhatsApp payments service in India  Almost one million people in India are \"testing\" WhatsApp's payments service, and the company is working with the Indian government, NPCI and multiple banks to further expand the feature to more users, a company official said. WhatsApp payment service, which rivals the likes of Paytm, has been in beta testing over the last few months. The Facebook-owned company hasn't yet announced a launch date but industry watchers expect it to happen in the next few weeks. WhatsApp had received permission from NPCI to tie up with banks to facilitate financial transactions via Unified Payments Interface (UPI). The Reserve Bank of India has mandated all payment system operators to ensure that data related to payments is stored only in India giving firms six months to comply with it.Excise duty cut in oil to impact India's fiscal deficit badly: Moody'sRating agency Moody's has sounded a note of caution that any reduction in excise duty on petrol and diesel would adversely affect fiscal deficit unless it is matched by a commensurate cut in expenditure. Pressure has been mounting on the government to cut excise duty on petrol and diesel to bring down their prices which have gone up following a spike in crude prices in the international market. According to government estimates, every rupee cut in excise duty on petrol and diesel will result in a revenue loss of about Rs 13,000 crore.


PTI
June 17, 2018
Pressure has been mounting on the government to cut excise duty on petrol and diesel to bring down their prices which have gone up following a spike in crude prices in the international market.


PTI
New Delhi, June 14, 2018
After hitting an all-time high of Rs 78.43 a litre for petrol and Rs 69.31 for diesel on May 29, rates have been cut on 14 occasions thereafter as international oil prices softened and the rupee strengthened against the US dollar.


BusinessToday.In
New Delhi, June 14, 2018
Inflation in vegetables climbed to 2.51 per cent in May, while for 'fuel and power' basket, inflation rose sharply by 11.22 per cent in May from 7.85 per cent in April.


Mail Today Bureau
June 13, 2018
Oil is India's biggest import item and an increase in oil prices push inflation up and widens the trade deficit, putting pressure on the rupee. So far in 2018, retail prices of petrol have climbed 9.2 per cent and diesel by 13.7 per cent in Delhi.


BusinessToday.In
June 12, 2018
This is the fourteenth cut in a row. Before slashing the fuel prices, the petroleum companies had hiked the cost for 16 consecutive days - from May 13 to May 29, petrol price was raised by Rs 3.8 and diesel by Rs 3.38 per litre. 


C.V. Raman
New Delhi, June 11, 2018
India will need a bouquet of technologies and fuel diversity to make growth sustainable.


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