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Reactions after India cuts GST on hundreds of items

Sept 4 (Reuters) – India late on Wednesday announced GST cuts on hundreds of consumer items ranging from soaps to small cars to spur domestic demand, and simplified its complicated GST (Goods and Services Tax) structure to two rate slabs from four, with some exceptions for luxury and “sin” goods. The benchmark BSE Sensex and Nifty 50 rose 0.8% each in early sessions. Here is how the industry has reacted so far: ANISH SHAH, GROUP CEO and MD, MAHINDRA GROUP “The next-generation GST reforms… mark a defining moment in India’s journey towards building a simpler, fairer, and more inclusive tax

Gold futures retreats from record high to Rs 1,05,800/10 g on profit booking

New Delhi, Sep 4 (PTI) Gold prices on Thursday eased from their record highs, plunging Rs 1,395 to Rs 1,05,800 per 10 grams in futures trade on the MCX as traders booked profits at higher levels amid a bearish sentiment in the global markets. On the MCX, the most traded gold futures for October delivery declined Rs 1,395, or 1.30 per cent, to Rs 1,05,800 per 10 grams in the morning trade. It had rallied to hit an all-time high of Rs 1,07,226 per 10 grams on the Multi Commodity Exchange (MCX) on Wednesday. The precious metal futures for December

Rupee falls 1 paisa to 88.03 against US dollar in early trade

Mumbai, Sep 4 (PTI) Rupee fell 1 paisa to 88.03 against the US dollar in a highly volatile morning trade on Thursday amid sustained FII outflows and a stronger greenback. Goods and Services Tax (GST) rate cuts, which buyoed market sentiments, and a drop in global oil prices limited losses in the local unit, according to forex traders. At the interbank foreign exchange, the domestic unit opened weaker at 88.09 against the US dollar and rose sharply to 87.85 before slipping again to 88.03, down 1 paisa from its previous close. The rupee recovered 13 paise from its all-time low

GST Bonanza fuels stock markets rally; Sensex jumps nearly 900 points

Mumbai, Sep 4 (PTI) Benchmark equity indices Sensex and Nifty surged in early trade on Thursday as investors became cheerful after the GST Council approved a complete overhaul of the tangled Goods and Services Tax regime. The 30-share BSE Sensex jumped 888.96 points to 81,456.67 in opening trade. The 50-share NSE Nifty surged 265.7 points to 24,980.75. Common use items from roti/paratha to hair oil, ice creams and TVs will cost less, while tax incidence on personal health and life insurance will be brought down to nil after the all-powerful GST Council on Wednesday approved a complete overhaul of the

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