News digest: GST rate cut, toxic assets, Koramangala, and more

Finance secretary says onus of passing on the benefits is on companies

Act fast on GST rate cut or face action: Adhia

Companies, including FMCG firms, might be prosecuted if their retailers do not immediately cut the prices of products whose goods and services tax (GST) rates have been slashed. Union Finance Secretary Hasmukh Adhia says the retailers or the companies cannot continue with higher prices on grounds that the old stocks have not been exhausted. Read more

Soon, ordinance to block defaulters from bidding

The government is taking steps to disallow defaulters from bidding for toxic assets by amending the insolvency law and, at the same time, asking all