Speaking about the crisis in the auto sector, Bhargava said one of the key reasons for this was the government's decision that all standards of cars in India should now match emission standards followed in European countries

The GST Council on September 20 took an in principle decision to link Aadhaar with registration of taxpayers under GST and also examine the possibility of making the 12-digit unique identification number mandatory for claiming refunds.

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Additionally, the GST Council has reportedly decided to increase the tax rate for caffeinated drinks to 28 per cent from 18 per cent. An additional 12 per cent cess would also be imposed on such beverages

GST Council meet: On top of that 12 per cent of cess would be charged under the new Goods and Services Tax (GST) rules.

During the festive season, auto companies may offer discounts of around 5 per cent or so, but in the long run, tax cuts are unlikely to keep the prices down as tax benefits are not fully passed on to consumers

GST Council meeting: \"Several decisions have been taken in order to promote tourism,\" FM Nirmala Sitharaman stated before announcing rate cuts on hotel bills

The GST Council fitment panel has rejected the rate cut demand for the auto sector, saying it would lead to revenue loss of Rs 40,000-45,000 crore

GST Council meet: Although the Council has extended the date for filing the annual return for 2017-18 several times, it doesn't help much as the return form itself seems to have flaws.

Thousands of mining dependents will walk to the venue of the GST council meet on Friday to present their memorandum to Sitharaman, Goa Mining People's Front (GMPF) president said

According to the chairman of Maruti Suzuki India, FM Nirmala Sitharaman is correct in her recent assertion that the ride-hailing companies have impacted auto demand. He backed up his argument saying young buyers don't need to buy cars for commuting and can spend most of their income on electronic gadgets.

The 37th GST Council meeting to be held in Goa on 20 September was supposed to discuss the issue of rate cut in the auto sector. The other proposals to be discussed during the meeting include tax cuts on FMCG goods and hotel industry.

The GST Council meeting, as per the agenda paper, may take up automobiles, hotels, biscuits, matchsticks and outdoor catering segments for resetting of the GST rates. However, all listed items may not see GST cut due to various complexities involved

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BSE auto index fell 3.8 per cent to close at 15,783.39, as against 1.73 per cent decline in the BSE Sensex. Meanwhile, the Nifty Auto index ended at 7,020.75, down 3.83 per cent, as compared to 1.69 per cent fall in Nifty 50 index

GDP figures were worse than predicted, says RBI Governor Shaktikanta DasThe Reserve Bank of India (RBI) Governor Shaktikanta Das said on Monday that India's gross domestic production (GDP) growth at 5 per cent came as a surprise and was much lower than anticipated. The RBI Governor said that bringing back the economy on growth trajectory should be the highest priority of the government. Last week, International Monetary Fund (IMF) had said that India's economic growth is \"much we...

I don't know what is happening in India, but theoretically, when there is uncertainty people are reluctant to invest. Or, (if) some policy changes (are) coming, people wait to see, said Nobel laureate Muhammad Yunus

Amazon India has flagged off the Amazon Festive Yatra - a unique 'house-on-wheels' featuring a large variety of products available on Amazon India

Harshbeena Sahney Zaveri, vice chairman and managing director of the listed company, said NRB, which makes 500-plus types of bearings for vehicles, has intensified operations in the international markets

The hefty discounts come amid an unprecedented slump in the auto sector. Sale of automobiles crashed by 23.5 per cent to 18,21,490 units in August, the worst ever decline in a month on a year-on-year basis since 1997-98