New digest: GST collection, GE warns govt, e-vehicle push in India and more

From govt mulling Rs30,000-cr fund to help exporters to about 45% of assessees not having filed GST returns yet, BS brings you up to speed with latest news

GST collections slow down in August

The government collected Rs 90,669 crore goods and services tax (GST) for August, a little lower than the Rs 94,063 crore collected in July. This is also lower than the Rs 91,000 crore which should have come to the Centre and states in a month, given the Budget Estimates and assumed growth rates in receipts for 2017-18. Read More

Govt mulls Rs 30,000-cr fund to help exporters 

The government is mulling a dedicated fund to expedite timely refund of taxes paid on input for export, to address liquidity woes of exporters under the new goods and services tax (GST) regime. A corpus of Rs 20,000-30,000 crore is under consideration to narrow the input tax credit cycle and facilitate their working capital requirements. Read More

Don’t expect economic revival for 2 years: Naik

The economy is unlikely to revive for the next two years, as the government will be in “election mode” and private-sector companies grapple with a Rs 6.5-lakh crore debt problem, said Anil Manibhai Naik, outgoing Group Executive Chairman of India’s biggest infrastructure company, Larsen & Toubro (L&T), on Tuesday. Read More 

GE warns Centre of risk in altering $2.6-billion railway deal

In a blow to Prime Minister Narendra Modi’s pro-industry image, US giant General Electric on Tuesday said any move by the Indian Railways to wind up the company’s Marhowra diesel locomotive factory in Bihar would “undermine the government’s signature Make in India initiative and will put future foreign investment at risk”. Read More

Start-ups charge up for e-vehicle push

Tarun Mehta, the 28-year-old co-founder of Ather Energy, is set to commercially launch his electric scooter by the first half of next year. For Mehta and his 270-odd product development team, it has, of course, been a gruelling experience to build a vehicle from the ground up, including the battery, with hardly any mature vendors available for support. Read More