Over the last few weeks, the press has been rife with the recent clarification given by the CBDT. In fact, CBDT had recently clarified that companies that shift to the new 22% tax formula will not get the MAT credit. That had created a sense of panic among a lot of large corporates. Here is why!
On the day RIL results were announced, the company touched a record market cap of Rs.900,000 crore. This is a record of sorts and immediately led to worries in the market about rich valuations. Currently, 3 Indian companies; RIL, TCS and HDFC Bank are the most valuable in terms of market cap. The big question is if the troika is overvalued and what is it that differentiates them from the pack.
When the UK House of Commons voted to put off the BREXIT vote on Saturday, it was the umpteenth time that the deal has been left in the limbo. After more than 3 years of beating round the bush, it is time for UK to take decisive action. After all, BREXIT was the will of the people and that has to be respected.
The problems with the GST system were apparent when the tax collections for September dropped to Rs.91,000 crore. Somehow, the GST has not been able to convincingly sustain above the Rs.1 trillion mark; forget about the ambitious budget target of Rs1.15 trillion a month. After 2 full years, it is time to think in terms of a revamp of the GST basics.