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Petrol & diesel could face highest GST slab of 28%, plus state taxes (which means no retail relief)

Petrol and diesel are likely to be taxed at the peak GST rate of 28 per cent, plus state sales tax, when the two auto fuels are brought under the goods & service tax regime, a top government official said.
Jun 20, 2018 19:12 IST

Centre open to greater RBI powers

The BJP-led central government is open to considering the Reserve Bank of India's demand for greater powers to regulate state-run banks. "If more powers are needed by the RBI, we are open to giving that," finance minister Piyush Goyal said on Tuesday after a meeting with state-run banks from eastern and northern India.
Our Special Correspondent Jun 20, 2018 00:00 IST

ICICI draws mixed market response

Leading brokerages on Tuesday supported the ICICI Bank board's decision to appoint Sandeep Bakshi as the new chief operating officer (COO), though the move received a lukewarm response from the stock market.
Our Special Correspondent Jun 20, 2018 00:00 IST

Tariff tiff rattles investors

The possibility of a full-blown trade war between the US and China spooked global markets on Tuesday, with its impact being felt on the domestic bourses as well.
Our Special Correspondent Jun 20, 2018 00:00 IST

New Uber local head

Uber, the US-based cab aggregator, has appointed Pradeep Parameswaran as president of its India and South Asia operations.
Our Special Correspondent Jun 20, 2018 00:00 IST

Demand to fuel hotel growth

An increase in demand for rooms coupled with a muted growth in supply will support the hotel industry's recovery trend till 2021-22, according to a report by Icra.
Our Bureau Jun 20, 2018 00:00 IST

India-US meeting to tackle thorny issues

Officials from India and the US will meet next week to find a way out on visa concerns. They will also discuss extension for certain export concessions, duty on steel and aluminium, and prices of certain medical devices.
Our Special Correspondent Jun 20, 2018 00:00 IST

Blue Star strategy tweak

Blue Star Ltd, the air-conditioning and refrigeration company, plans to de-risk its business through a combination of product diversification, higher localisation and expansion in key export markets.
A Staff Reporter Jun 20, 2018 00:00 IST

Paytm buys start-up

One97 Communications Ltd, which owns the digital payments app Paytm, has acquired mobile technology start-up Cube26 for an undisclosed sum.
Our Special Correspondent Jun 20, 2018 00:00 IST

Fresh bid to revive Air India

Union minister Arun Jaitley along with his senior ministerial colleagues and officials on Monday discussed the future course of action for debt-laden Air India, weeks after its strategic disinvestment proposal failed to attract any bidders, sources said.
Our Bureau Jun 19, 2018 00:00 IST

Blame on GSTN for export woes

Bengal finance minister Amit Mitra on Monday said the Goods and Service Tax Network (GSTN) is yet to completely deploy the online system of "auto verification", leading to delay in the refunds of exporters.
A Staff Reporter Jun 19, 2018 00:00 IST

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