NITI Aayog plans big push for electric cars
New Delhi | Last Updated: May 8, 2017 | 13:55 IST
Government think-tank Niti Aayog has recommended lowering taxes and interest rates for loans on electric vehicles, while capping sales of conventional cars, signalling a dramatic shift in policy in one of the world’s fastest growing auto markets.
A draft of the 90-page blueprint, seen by Reuters, also suggests the government opens a battery plant by the end of 2018 and uses tax revenues from the sale of petrol and diesel vehicles to set up charging stations for electric vehicles…(see more)
Gear up for supply chain disruption after GST implementation
Tue, May 09 2017. 07 55 AM IST
In the run-up to the implementation of the Goods and Service Tax (GST), distributors and wholesalers in various sectors could be tempted to de-stock, in a bid to avoid losses on the tax credit front. Since product-wise GST rates will be finalized at the end of June, concerns over potential losses arising from mismatch between tax payout and tax refund once GST is in place, has led to traders reducing stock-in-trade.
Media reports state that de-stocking has already begun in the pharmaceutical sector, where some stockists have started maintaining low stock levels and some others have begun returning a big chunk of their stocks to companies…(see more)
Demonetisation did not impede future black money flows: UN report
The Indian government’s demonetisation measures did not impede future black money flows in new denominations, a UN report said on Monday. According to UN Economic and Social Survey of Asia and the Pacific 2017, complementary measures to demonetisation would be required to target all forms of undeclared wealth and assets.
“Broader structural reforms which could also contribute to enhanced transparency include: the implementation of a goods and services tax; voluntary disclosure of income scheme; and tracking of high-value transactions through taxpayer identification numbers,” it said…(see more)