Indian stock markets edged up on Wednesday, led by the auto and consumer sectors ahead of a GST Council meeting. Nifty 50 increased by 0.15% and Sensex by 0.17%, but analysts warn of potential market weakness due to continued selling and external economic challenges.
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Indian stock market saw gains on Tuesday, driven by Reliance Industries ahead of a key GST Council meeting. The Nifty 50 rose 0.45% to 24,734. Positive sentiment stems from strong GDP figures and potential GST cuts for various products, possibly boosting consumer spending.
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The Indian government has announced a reduction in the indirect tax burden on consumers—to be achieved by rationalizing goods and services tax (GST) rates.
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IDFC FIRST Bank is among private sector banks authorised for GST collections, reaffirming its commitment to offering universal banking solutions and comprehensive financial services to the wider ecosystem.
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The NBDA has urged Finance Minister Nirmala Sitharaman to address GST concerns affecting the news broadcasting industry, advocating for a shift in taxation timing and the allowance of input tax credit on certain business expenses to improve financial health and operational efficiency.
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NEW DELHI (Reuters) -An Indian tax panel has proposed steep increases in consumer levies on luxury electric cars priced above $46,000, a government document showed, a move that could impact sales of carmakers such as Tesla, Mercedes-Benz, BMW and BYD.
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Corporate India, leaner than ever from efficiency gains forged through indirect tax reforms, faces a fresh challenge as the government’s GST overhaul threatens to lock up cash and lengthen working capital cycles, even as weak demand clouds their growth prospects.
Read MoreCorporate India, leaner than ever from efficiency gains forged through indirect tax reforms, faces a fresh challenge as the government’s GST overhaul threatens to lock up cash and lengthen working capital cycles, even as weak demand clouds their growth prospects.
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JK Tyre & Industries share price leading among the gainers jumped nearly 6 per cent on September 2. Meanwhile, MRF and CEAT shares were trading 5 per cent up.
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The Indian stock market closed lower after early gains, with Nifty 50 and Sensex dropping 0.18% and 0.26%. Mid- and small-cap stocks performed well, while banking stocks were the worst hit.
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