The GST on the margin of sale for used vehicles, including electric ones, has been revised to 18%. GST is payable only on the margin between purchase price and sale price. For depreciated vehicles, GST applies only if the sale price exceeds the depreciated value. Negative margins incur no GST liability.
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Wall Street concluded lower on Tuesday due to continued uncertainty over US President Donald Trump’s tariff policies. Market swings were driven by these uncertainties, with the Dow Jones, S&P 500, and Nasdaq Composite all seeing declines. Despite the downturn, major tech stocks like Tesla and Nvidia showed some resilience. Investors remain concerned about potential economic slowdown and market correction.
Forex spending by Indians declined 14% to $2.4 billion in Oct 2024, with travel comprising the largest share. Simultaneously, domestic electronic spending peaked during the festive season, but saw a sharp decline in Nov 2024, with significant drops in credit, debit card, and UPI transactions.
Global passenger numbers are projected to reach 22.3 billion by 2053, nearly 2.4 times the volume for 2024, as per the Airports Council International's airport traffic forecasts. Key factors include rising middle-class travel demand in emerging markets, strengthened international travel, and investments in airport infrastructure.
Hindustan Unilever Limited (HUL) reported a 1.4% increase in revenue for Q3, reaching Rs 15,408 crore, despite weak demand in urban areas due to high food inflation. The company's net profit surged 19% to Rs 3,001 crore, thanks to gains from the sale of its Pureit business. Consumers have been opting for smaller product packs across various segments.
The Competition Commission of India fined Goldman Sachs AIMPL Rs 40 lakh for not notifying it about a deal that included acquiring optionally convertible debentures in Biocon Biologics, providing significant rights beyond those of ordinary shareholders, which necessitated prior notification under the Competition Act.
Donald Trump paused tariffs on most nations but increased levies on China. China retaliated and called for mutual respect in dialogue. The trade war threatens global supply chains and economic stability. Xi Jinping prepares for long-term confrontation, reducing reliance on the US. Both countries face economic pain, but neither leader is willing to back down. The situation is a deadlock.
In 2024, the Indian stock market experienced significant growth, with the NSE listing 2,671 companies and the market capitalisation reaching Rs 438.9 lakh crore. IPOs and other equity mobilisations contributed Rs 3.98 lakh crore, while the number of investors increased by 27.2 percent to 10.9 crore.
Illegal online betting and gambling in India have surged, with 1.6 billion visits recorded on major platforms. Despite government actions, illicit operators thrive using advanced marketing, frictionless payments, and mirror websites. The report urges a comprehensive approach, including stricter digital media controls, financial regulations, and enhanced enforcement to disrupt illegal gambling operations effectively.
Chinese Christmas decoration makers are facing a sharp decline in US orders after Donald Trump hiked tariffs on Chinese goods by 104%. Factories in Jinhua report stalled or cancelled shipments, with fears of job losses and price hikes in the US. Industry insiders warn American consumers may face shortages and higher costs this festive season.
Aditya Birla Group's UltraTech Cement is set to acquire Wonder Cement's white cement business for Rs 235 crore. This acquisition will enhance UltraTech's production capacity, leveraging Wonder Cement's strategically located plant and booming turnover in the competitive putty manufacturing market.