GST hits hurdle

New Delhi, Feb. 11: BJP-led states stalled the government’s plans to bring in constitutional amendments, which could have led to the nationwide rollout of goods and services tax (GST), by objecting to giving Parliament powers to set up the GST council. Finance minister Pranab Mukherjee tried to broker peace by promising “to do justice” to states. The amendment is needed to transfer the right to tax services to states.

EIH rights

New Delhi, Feb. 11: Hospitality firm EIH Ltd will raise over Rs 1,160 crore through a rights issue that will open next month. It will issue 17.86 crore shares on a rights basis to shareholders.

Trai stand

New Delhi, Feb. 11: The telecom regulator has defended its proposal of a six-fold hike in 2G spectrum fees. Trai said recommendations on uniform licence fee and annual charges would help operators save more.

Iran crude

New Delhi, Feb. 11: The government has not given a go-ahead for the Iran crude payment under the new mechanism, HPCL said. The company’s net profit rose six-fold to Rs 211.03 crore in the third quarter.