Asian stocks experienced gains driven by dovish signals from the US Federal Reserve and weak US labor data, reinforcing expectations of interest rate cuts. Japan’s Nikkei 225 and Australian shares saw increases, while Chinese equities declined amid regulatory concerns. Oil prices continued to fall ahead of the Opec+ meeting, influenced by expectations of increased output.
The GST Council’s decision to reduce GST rates, effective September 22, will lead to price cuts for small cars, SUVs, and two-wheelers under 350cc. Larger vehicles will also benefit from reduced taxes, though hybrids remain unchanged. This move aims to provide relief to consumers, benefiting companies like Maruti, Hyundai, TVS, and luxury car brands, while…
The government anticipates businesses will pass on the benefits of lower GST rates to consumers. The CBIC will engage with industry to ensure compliance, with indications suggesting a positive response. While the anti-profiteering agency is disbanded, the provision remains, and guidance will be issued for goods already in stock, allowing businesses to claim credit for…
The GST Council has approved significant rate cuts across various sectors, effective September 22nd, providing relief to consumers and farmers. Daily-use items like hair oil, shampoo, and toothpaste will now attract a reduced 5% GST, while health and life insurance are entirely exempt.
The GST Council has approved a major overhaul of the indirect tax system, introducing a simplified two-rate structure of 5% and 18%, along with a 40% slab for select goods. Effective September 22nd, these changes aim to reduce tax burdens on common goods, eliminate classification disputes, and boost consumption.
Finance Minister Nirmala Sitharaman announced significant GST rate cuts following the 56th GST Council meeting, implementing a two-tier structure of 5% and 18% effective September 22. The rate rationalization, supported by all states, aims to benefit the common man by consolidating rates and reallocating items across tax slabs.
The Union Cabinet has approved a Rs 1,500 crore incentive scheme to boost domestic supply chain resilience by promoting e-waste and battery waste recycling for critical mineral extraction. Running from FY 2025-26 to FY 2030-31, the scheme supports both established and new recyclers, offering capex and opex subsidies to build recycling capacity and generate jobs.
Wall Street rebounded Wednesday, fueled by Alphabet’s surge following a favorable antitrust ruling, boosting the S&P 500. Tech stocks rallied alongside a calmer bond market, with Apple also gaining. Macy’s soared on strong earnings, while Dollar Tree dipped despite beating profit expectations. European markets rose, contrasting with weaker sessions in Asia, where Japan’s Nikkei fell…
The Czech government has approved a significant defence acquisition, agreeing to purchase 44 Leopard 2A8 battle tanks from Germany for over 34 billion koruna. This deal, part of a broader military modernization effort spurred by the war in Ukraine, will see deliveries between 2028 and 2031.
