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PTI
July 16, 2018
FMCG major Hindustan Unilever today reported a 19.17 per cent increase in standalone net profit at Rs 1,529 crore for the first quarter ended June 30, 2018.


Prosenjit Datta and Rajeev Dubey
New Delhi, July 9, 2018
As the Goods and Services Tax turned one, Business Today organised a discussion to understand how the journey had been so far, and what needed to be done in future. The panel, comprising Anita Rastogi, partner, indirect tax, PwC; Abhishek A. Rastogi, partner, Khaitan & Co; Atul Gupta, senior director, Deloitte, Haskins & Sells LLP; Ajay Sahai, Director General & CEO, Federation of Indian Export Organisations; Harpreet Singh, partner, indirect tax, KPMG; and Anil Bhardwaj, secretary general, Federation of Indian Micro & Small and Medium Enterprises held a 90-minute discussion


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.


PTI
July 5, 2018
Unveiling the budget proposals in the Assembly, Kumaraswamy, who also holds the finance portfolio, said he has limited the loan amount to Rs 2 lakh, as it was \"not right\" to waiver higher value crop loan.


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.


PTI
New Delhi, July 1, 2018
Modi said the Goods and Services Tax (GST) has within one year of its launch led to over 70 per cent jump in indirect taxpayer base, demolished check-posts and merged 17 taxes and 23 cesses into one single tax.


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 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
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.


BusinessToday.In
June 16, 2018
According to a report by SBI Research, as many as 16 of the 24 states have seen their revenue increasing over and above the 14 per cent baseline - a mutually accepted minimum tax growth rate between the Centre and the states post-GST rollout below which the states have to be compensated.


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
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. 


Dipak Mondal
New Delhi, June 11, 2018
facing heat for its failure to cope with increasing crude oil prices, the government finally has some respite in the form of its GST collections for April.


BusinessToday.In
New Delhi, June 11, 2018
As per the Indian Oil Corporation data, petrol and diesel prices have been slashed for the 13th consecutive day -- after it touched record high of Rs 78.43 on May 29 -- by over Rs 1.80, while diesel by Rs 1.38.


BusinessToday.In
June 10, 2018
In last 12 days, the petrol price has come down by Rs 1.65 paise - in the national capital -  from its record high of Rs 78.43 on May 29. Before slashing the prices, oil marketing companies had hiked the fuel 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.


BusinessToday.In
New Delhi, June 8, 2018
The diesel prices also dipped 15 paise in all metro cities, except Chennai where the prices dropped by 16 paise. In Delhi, diesel was priced at Rs 68.58, while Rs 71.13 in Kolkata and Rs 73.02 in Mumbai.


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