Logistics Monday News Updates dated 15/05/2017

Logistics News Article

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GST cloud hangs over excise mop-up as dealers hold up tight

By: PTI | New Delhi | Published: May 14, 2017 | 2:34 PM

Excise collections may take a hit as dealers are refraining from purchasing goods from manufacturers as they are not sure about tax credits and rates under GST, which is slated for July 1 launch. The GST Council will meet on May 18-19 to decide on the rates, and sources said tax rates of as many as 6,000 products have to be decided.

In view of this uncertainty and also the transitory mechanism for availing of credit on tax paid prior to the GST kick-off, dealers are choosing to wait and watch rather than buy and holding on to inventories. This state of flux will have a direct bearing on excise collections during April-June, said experts…(see more)

Govt owes Rs 451.75 crore to Air India for VVIP flights, reveals RTI

Wed | 10 May 2017-09:20pm | New Delhi | PTI

The Central government owes Rs 451.75 crore to Air India for VVIP flights carrying the president, vice president and the prime minister, as well as special missions, according to the latest data provided under the Right To Information Act.

As per the information provided in response to the RTI query filed by retired Commodore Lokesh Batra, senior officials of the Civil Aviation Ministry, including Union minister Ashok Gajpathi Raju, had written 31 letters between 2014 and 2017 to various ministries asking them to make timely payments to the national carrier for accruing dues at various points in time…(see more)

Adani plans to begin extracting coal from Carmichael project in 2020-21

PTI | NEW DELHI | MAY 14  

Adani Group plans to begin extracting coal from the $16.5-billion Carmichael project in Australia in 2020-21, its Chairman, Gautam Adani, has said.

The Group, which has interests from ports to power, would finalise by June an investment decision for the project, which has been delayed due to protests from environmental groups. In an interview to PTI, Adani said his group is not just investing in coal but also in renewable energy in Australia, seeking to develop 1,500 MW of solar projects by 2022.

“Like in India, we are investing heavily in renewable energy in Australia too,” he said. It has signed pacts to build two solar farms, each with a capacity of 100-200 megawatts in Queensland and South Australia. Adani said the company has scaled down the coal mine capacity in the first phase…(see more)

Stocks on BSE’s SME board make big gains in FY17

May 14, 2017

Investors who were willing to take on higher risk and invest in mid- and small-cap stocks should have reaped good returns in 2016-17. The S&P BSE Mid and Small Cap Index gained 34 per cent in this period.

While this appears bountiful, another set of stocks did much better — those listed and traded on the BSE SME platform. A comparison of the performance of stocks with market capitalisation of less than ₹1,000 crore traded on the main board of the BSE with those listed on the BSE SME platform throws up some interesting facts.

The top gainer in FY17 on the SME platform was Umiya Tubes, which gained over nine times. Tejnaksh Healthcare came next, recording an almost eight-fold price increase. Thirumalai Chemicals, which was the top gainer among the smaller stocks on the main board, only trebled. The BSE SME IPO index rallied an impressive 67 per cent in FY17. This index tracks the performance of the stocks on the exchange’s SME platform in the three years immediately after listing…(see more)

 

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