Business

Goods and Services Tax (GST) will usher in a very simple and less burdensome taxation regime as it will be a single rate indirect tax which can be paid by debit/credit cards, cheque and NEFT, Revenue Secretary Hasmukh Adhia said on Wednesday.

The benchmark Sensex remained range-bound in choppy trade on Monday, ending about 33 points down as investors preferred to stay light ahead of earnings season and macroeconomic numbers amid estimates of slowdown in the country's GDP growth.

Finance Minister Arun Jaitley on Monday released tax collection figures that showed that demonetisation has not affected the economy. However, the reason the figures show an increase may be because the government allowed advance tax to be paid in Demoneti...

The 50-share Nifty edged down by 6.30 points, or 0.08 per cent, to close at 8,179.50. It shuttled between 8,212 and 8,133.80 intra-day.

Piling on Tuesday's massive loss, the rupee on Wednesday fell by another 18 paise to close at a 4-week low of 68.24 on month-end dollar demand from importers coupled with sustained foreign capital outflows.

Foreign investors withdrew Rs 1,095 crore on net basis from stocks markets on Monday.

Trying to calm the jangled nerves, FM Arun Jaitley went to great lengths clarifying that there is no intention of the govt to impose tax on long-term capital gains from share transactions.

Markets may see volatile trading sessions amid derivatives expiry, while muted FII activity and global markets will dictate market trend this week, say experts.

India criticised Moody's ratings methods and pushed aggressively for an upgrade, documents reviewed by Reuters show, but the US-based agency declined to budge citing concerns over the country's debt levels and fragile banks.

It's a matter of satisfaction that for the three consecutive years, Indian investment was the highest (by a foreign country) in the UK, where this country was also the largest employment provider.

"Analjit Singh, Non - Executive Independent Director of Tata Global Beverages Ltd has resigned from the Board of the company with immediate effect," the company said in a BSE filing.

"NITI Aayog and the ministries of IT and Telecom have devised a two-pronged approach for communicating with and enabling as many citizens as possible, a plan which will be executed with the active support of Nasscom and Nasscom Foundation," the letter sai...

Coal imports, which dropped by 16 per cent to 14 million tonnes (MT) in November, are likely to decline this month as well due to factors like demonetisation and higher prices in global markets.

Taking positive cues from global markets and covering-up of short positions by speculators, the benchmark BSE Sensex recovered by over 75 points in early trade on Friday on the back of widespread gains in blue-chips.

The demand destruction unleashed by the November 8 demonetisation drive saw the bank credit shrinking by a whopping Rs 61,000 crore, or 0.8 per cent, during the fortnight to November 25, show the latest RBI data.

Seeking support of shareholders of Indian Hotels Co Ltd (IHCL), ousted Tata Group Chairman Cyrus Mistry has said several steps taken to turnaround the hospitality chain will bear fruit only in future.