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Dual rated dual GST
The long-awaited meeting of the Empowered Committee of State Finance Ministers (EC) was recently held in Delhi and, as was perhaps expected, the EC has come out with a recommendation on what can legitimately be called a “Dual Rated Dual GST System”. There were expectations in certain quarters that the dual GST would be a single rated one at the Federal and the State level for both goods and services. This has not been possible and the EC has now come out with a dual rate model for goods. There has been no mention of whether there will be a dual rate for services as well but the understanding and expectation is that services will be taxed at just the one rate, at the Federal and State levels respectively. This article discusses the dual rate dual GST model for goods in some detail. http://smallpersonalloans.org.uk

Tata Steel hints at price revision
Tata Steel today hinted at increasing prices of its products.

News of the day

Government to kick off Bt brinjal discussions on January 13
Environment and Forests minister Jairam Ramesh will start public consultations from January 13 in seven different cities in India before deciding whether to give the final nod to commercialisation of genetically modified (Bt) brinjal.
Public Company

Firms raise steel prices on demand expectation

With post-monsoon construction about to take off, major producers of steel have announced a rise in prices across product categories. - Steel cluster withers under power shortage - Steel cluster hopes to gain from sops At Mandi Gobindgarh, India’s largest steel market, the prices of cold-rolled coils and sheets have risen by about Rs 2,000 a tonne. Those of billet and TMT have gone up by Rs 3,000-4,000 a tonne. Another round of price rises may happen in the current financial year if demand rises as much as anticipated. There is a belief that domestic economic activity, in general, will be picking up, particularly in the roads, railways and housing sectors. As if anticipation, prices of sponge iron, also an input in steel-making, have risen by around 17 per cent so far this month. After a stagnant first quarter, demand for it has been rising gradually. Steel makers expect that the other input prices would also be moving up, given the possible rise in the economic activity.


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