News digest: Budget 2018, GST Council, Sebi bans Price Waterhouse, and more

From Government's likely stake in Air india to GST Council meet, BS brings you up to date with the latest news

GST Council may lower rates for farm gear, electric vehicles next week

The GST Council may take up rationalisation of the goods and services tax (GST) rates for a handful of items at its meeting next week. These items include bio-diesel buses, electric vehicles and irrigation equipment. 

The GST Council meeting will be its last one before the presentation of the Union Budget on February 1. Read more

Sebi curb: Price Waterhouse set to lose 75 listed firms to rivals

The hit on Price Waterhouse (PW) has opened up new business opportunities worth over Rs 1 billion for other auditing firms in the country. The Securities and Exchange Board of India (Sebi) had on Wednesday banned PW from auditing listed companies for two years. Read more

Budget bonanza: Govt likely to do away with dividend distribution tax

The finance ministry is likely to do away with the dividend distribution tax (DDT) in the upcoming Union Budget. Sources in the know have said there have been considerable discussions on the topic among various stakeholders. 

At present, if a company gives dividend to its shareholders, it has to pay DDT of 20.36 per cent. Read more

TCS Q3 net profit dips 4% to Rs 65.45 billion, meets Street target

The third quarter net profit of Tata Consultancy Services (TCS) dipped 3.9 per cent year-on-year to Rs 65.45 billion, while its revenues grew 2.7 per cent to Rs 317.7 billion as the software bellwether met Street expectations. Read more

Govt likely to hold around a 26% stake in Air India after sell-off

India may not fully privatise its beleaguered airline Air India. While policy think tank NITI Aayog had recommended a 100 per cent stake sale, the government may hold on to around a 26 per cent stake to be sold later.

A final call, however, would be taken by the group of ministers looking into the disinvestment process. Read more