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GST Council meet: GoM pitches for ‘specific tax levy’ on pan masala, gutkha
A group of ministers (GoM) tasked by the Goods and Services Tax (GST) Council to look into capacity-based taxation for evasion-prone commodities like pan-masala and gutkha has proposed a “specific tax-based levy”, which is to be linked to their retail prices. At present, these commodities attract 28 per cent GST plus an ad valorem compensation cess. Read More
Tata Consumer, Hindustan Unilever in talks to buy tea major Girnar
Top consumer product companies Hindustan Unilever (HUL) and Tata Consumer Products, among others, are believed to be in the race to acquire Girnar Food & Beverages, the Gujarat-based tea major, at a valuation of Rs 1,000-1,500 crore. The discussions, however, are at an initial stage, according to two sources aware of the developments. Read More
CBDT seeks detailed report on the top 15 taxpayers in each region
The Central Board of Direct Taxes (CBDT) on Thursday directed senior tax officials to submit a detailed analysis of advance tax collections, including the third instalment, and the names of the top 15 taxpayers in each region in the current fiscal year. The directive was given to “maximise direct tax collection” and monitor advance tax collection figures of financial year 2022-23 (FY23). Read More
Five bidders in fray for India’s largest electric bus tender
Five companies have bid for the largest tender for electric buses — 6,450 buses — in the country. They include electric bus makers PMI Electro Mobility Solutions — which has a joint venture with Foton — Switch Mobility (an Ashok Leyland company), the Gurugram-based JBM group which is also into assembling electric buses, Pinnacle (India’s leading commercial vehicle and seating interiors company), and tour operators Travel Times. Read More
Exports record flat growth at $32 billion in November vs $31.8 bn YoY
India’s exports on Thursday recorded a flat growth at $31.99 billion in November as against $31.8 billion in the same month last year. Imports rose marginally to $55.88 billion in November as compared to USD 53.93 billion in the corresponding month a year ago, according to the data released by the government. Read More
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