Dabur flags GST risks even as demonetisation still stings:
Tue, May 02 2017. 08 04 AM IST
Dabur India Ltd’s results suggest it will take at least a few more quarters in fiscal year 2018 (FY18) before it is business as usual. That is a tough message for investors in a sector that trades at premium valuations.
Post-demonetisation, sales have improved but not entirely. The unorganized part of the packaged consumers goods distribution channel faces problems. Rural markets offer hope but only if the monsoon is normal. The new elephant in the room is the goods and services tax (GST) roll-out—the management says large distributors are ready but wholesale and retail channels are living in denial (see more)
Niti Aayog for abolishing 2% duty on mobile phone circuits:
NEW DELHI MAY 01, 2017 20:03 IST
Mobile phones could become cheaper if the government accepts a Niti Aayog proposal to drop the 2% import duty imposed on a critical component for handsets in the Union Budget for 2017-18.
The Aayog, in its draft three year action plan, has said the duty will hurt mobile phone makers in the country and the government must ensure that industries are not built behind ‘a wall of protection.’ (see more)
Alliance Air to lease 10 planes from Dubai Aerospace:
PTI | NEW DELHI, MAY 1
Alliance Air began the first flight under the scheme connecting Shimla with the national Capital last week. Dubai Aerospace today said it has signed long-term lease agreements for 10 ATR 72-600 aircraft with Alliance Air. Generally, an ATR 72-600 plane has around 72 seats (see more)
Vision and strategy document to follow action plan: Arvind Panagariya, Vice Chairman, Niti Aayog
May 02, 2017, 12.40 AM IST
NITI Aayog ’s draft three-year action plan is just a glimpse of the government’s long-term vision for turning around the country’s economy, Arvind Panagariya, vice chairman of the Aayog, says. A bigger and more comprehensive document would follow in the form of 15-year vision and seven-year strategy, which will deal with sensitive issues like defence, internal security and may be even privatisation of banks, he told ET in an interview (see more)
GST not to increase compliance burden, says Hasmukh Adhia:
BY PTI | MAY 02, 2017, 01.35 AM IST
NEW DELHI: The GST would not increase compliance burden on assessees and all apprehensions in this regard are misplaced, Revenue Secretary Hasmukh Adhia said today. “Many people think that implementation of GST would result in increase in compliance cost. This is completely misplaced,” he said while addressing netizens on Facebook.
Explaining the rationale, he said people have to keep different law books for filing return for various taxes like VAT, Excise etc in the present taxation regime. “But with the roll out of GST, there would be a single tax and accounting for this will be very simple. It can be done through an offline excel form provided by GST Network(see more)