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From 226 at launch, only 35 goods left in highest tax bracket of GST

Monday, July 23, 2018, 11:31 AM

The GST Council has pruned the 28% slab by cutting rates on 191 goods over the past one year, leaving just 35 items in the highest tax bracket. The items remaining in the 28% bracket include automobiles, digital cameras, tyres, yachts, aircraft, aerated drinks and cigarettes. The Council on Saturday cut rates on TV, fridge and washing machine among others.
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Maran loses Rs 1,323-cr arbitration against Spicejet; Rs 571 cr refund

Monday, July 23, 2018, 11:16 AM

An arbitration tribunal has rejected media tycoon Kalanithi Maran's Rs 1,300 crore claim for loss on account of non-issue of share warrants by SpiceJet. The tribunal, however, awarded Maran a refund of Rs 579 crore, the subscription amount he made for the warrants. Maran sold his 58.46% stake in SpiceJet to current chairman Ajay Singh for a nominal Rs 2 in 2015.
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1500% rise in number of complaints against e-commerce platforms

Monday, July 23, 2018, 11:05 AM

The number of complaints against e-commerce platforms has gone up by 1,500% over the last four years, according to government data. The complaints have risen from just 5,204 in 2013-14 to 78,000 in 2017-18. Most of the complaints are related to the delivery of fake products, damaged or substandard items, and delay in refund of money.

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