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Showing posts from May 29, 2018

A number of GST amendments likely in Monsoon Session: Official

A number of GST amendments likely in Monsoon Session: Official
According to GST Council special secretary Arun Goyal, the GST e-way bill system will be rolled out across the country by 3 June. Several amendments to the Goods and Services Tax (GST) law is likely to be placed before Parliament in the Monsoon Session, a senior official said in Kolkata on Monday. “There are several amendments to the GST which is proposed to come up during the Monsoon Session of Parliament,” GST Council special secretary Arun Goyal said at a seminar organized by the Merchants’ Chamber of Commerce. Over a dozen pending GST amendments are aimed at easing operational functioning of the indirect tax reform, he added. According to Goyal, the GST e-way bill system will be rolled out across the country by 3 June. A total of 20 states have already implemented the e-way bill system, dates of which has seen several deferments in the recent past The Mint, New Delhi, 29th May 2018

MCX shares continue to surge, up over 4% amid merger talks with NSE

MCX shares continue to surge, up over 4% amid merger talks with NSE Shares of Multi Commodity Exchange of India had surged 14 per cent on Friday also. Shares of Multi Commodity Exchange of India (MCX) continued to gain for the second straight session on Monday, rising over four per cent amid reports of merger with National Stock Exchange (NSE). The stock soared 4.25 per cent to end at Rs 853.60 on the BSE. During the day, it jumped 6.49 per cent to Rs 872. On NSE, shares of the company surged 4.53 per cent to close at Rs 854.85.In terms of equity volume, 244,000 shares of the company were traded on BSE and over 2,200,000 shares changed hands on the NSE during the day. Shares of Multi Commodity Exchange of India had  surged 14 per cent on Friday also. In a clarification to the BSE on Friday, MCX said, “We would like to state that as part of the corporate strategy, the company continuously evaluates various opportunities for enhancing shareholders’ value. If and when any proposal is require…

No major change in number of MF schemes post Sebi rationalisation

No major change in number of MF schemes post Sebi rationalisation
Drop in the number of schemes is less than 3%, despite merger of 38 schemes between Sept 2017 and May this year The Securities and Exchange Board of India's (Sebi's) move to categorise and rationalise mutual fund schemes has resulted in a reduction of less than three per cent in the number of schemes in the MF universe. Between September 2017 and May this year, 38 schemes have been merged, the majority of which are in the debt domain, data collated from Value Research shows. The fund count in the equity category has declined by one and that in the debt category has reduced by 26. Open-ended schemes today number 977, about three per cent lower than the figure before Sebi issued its October circular. Experts believe the number of categories under the new directive provides enough options for fund houses to continue with existing schemes under a different category, which effectively reduces the scope for large-scale co…