The 5% GST tax slab is the noteworthy one as it includes essential commodities such as food items, footwear and basic clothing. The GST council is expected to increase the tax rate under this slab to 6-8%

The pending dues include Rs 6946.29 core of tax devolution and Rs 8611.76 crore towards GST compensation, says Thackeray

Paytm founder Vijay Shekhar Sharma has resigned as the Director of Paytm Financial Services in wake of Reserve Bank of India's regulation that prohibits a payments bank chairman to also hold a directorial position in an NBFC unless it's a subsidiary of the bank; The Centre has changed the composition of its Group of Ministers (GoM) on the Integrated Goods and Services Tax (IGST) after Union Finance Minister Nirmala Sitharaman decides to opt-out of the ministerial panel headed by her; Sales of passenger vehicles declined 0.84% to 263,773, compared with 266,000 in the year-earlier period, ADB lowers FY20 growth forecast for India to 5.1% and more on the daily business news wrap News Blast.

Paytm founder Vijay Shekhar Sharma steps down as Paytm Financial Services directorPaytm founder Vijay Shekhar Sharma has resigned as the Director of Paytm Financial Services in wake of Reserve Bank of India's regulation that prohibits a payments bank chairman to also hold a directorial position in an NBFC (non-banking finance company) unless it's a subsidiary of the bank. While Sharma in his resignation letter cited \"other preoccupations\" as reasons for his inability to continue...

After Sitharaman's meeting with the FMs of Punjab, Madhya Pradesh, Rajasthan and Deputy CMs of Delhi and Pudducherry, a GoM was constituted to discuss issues related to IGST on December 4; earlier Sithraman was heading the panel

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Responding to a question at an event in Delhi recently, finance minister Nirmala Sitharaman also said that the government was looking at myriad suggestions and the relaxation on personal income tax was one of them before it presents the Union Budget 2020 in February next year

Govt set to amend bankruptcy law to protect new owners of insolvent companiesThe government has begun the process of amending the insolvency and bankruptcy code to protect new owners of bankrupt companies from any criminal accountability concerning the time when the firms were controlled by the erstwhile promoters. The cabinet is expected to approve significant changes to the insolvency law at the earliest to safeguard the companies taking over the broke businesses from prosecut...

Penning down his recommendations to help the ailing Indian economy out of the ongoing slowdown in the India Today magazine, he called for reforms to liberalise capital, land and labour markets, and spur investment as well as growth

Fforeign investors pulled out a net sum of Rs 1,668.8 crore from equities but invested Rs 1,424.6 crore on a net basis in the debt segment, resulting in a total net outflow of Rs 244.2 crore in December so far

Centre yet to pay compensation cess to states since August; GST Council forms a committee to suggest measures to boost revenues

\"We are adopting a direct method and also the method through which we are spending on infrastructure, whose spillover can go to core industries labour and so on,\" says the FM

Centre is yet to pay states' GST share due for the past four months; Kerala had last week threatened to drag the Centre to the Supreme Court over delay in compensation to states

Speaking at India Today's Conclave East, Sanjiv Goenka said that under-utilisation of capacity due to slow demand is holding back investments, not fear

Saudi Aramco raises $25.6 billion in largest-ever IPOSaudi Arabia's state oil company Aramco raised $25.6 billion in its initial stock offering on Thursday. The amount raised has broken the record of Chinese online giant Alibaba's $25 billion-debut on the Wall Street in 2014. The market launch has spiked Saudi Aramco's value at $1.7 trillion. It is now way ahead of the other contenders in the trillion-dollar club.'I condemn this approach': FM Sitharaman says her onions remark take...

Air India reported a record loss of Rs 8,556.35 crore in 2018-19, compared to net loss of Rs 5,348.18 crore reported for 2017-18, says aviation minister Hardeep Singh Puri

The Lok Sabha has already passed the bill, which will replace the ordinance promulgated on September 20, 2019, to cut the rate of base corporate tax to 22 per cent from 30 per cent

Finance Minister Nirmala Sitharaman said that her 'I doesn't eat onions' remark was in response to a specific question

The second and concluding part looks at how the quarterly GDP estimates use the organised sector indicators to measure the unorganised sector, which contributes nearly 50% to the GDP, thereby giving a misleading picture of the state of economic health

Finance Minister Nirmala Sitharaman denied usage of onion at her home, said the onion price issue did not affect her much; Coca-Cola realigns bottling business in North India; Rupee on slippery slope for a year at least, says Reuters poll and more news on News Blast.