Top headlines: GST cut for auto sector unlikely, Happiest Minds IPO shines

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No easing GST rate, automakers should cut royalty payments: FinMin sources

Finance ministry sources have indicated that there may not be any cut in the goods and services tax (GST) rates on automobiles despite a demand to this effect by the Covid-19 hit sector. The sources said the rates payable by auto firms under the new indirect tax system are lower than those under the old regime of excise duty and value added tax. They have, instead asked the industry to be more efficient by reducing costs and royalty payments to their parents abroad. Read More...

SC rejects SBI