Explainer: All you need to know about the GST on EVs
During the 55th GST Council meeting press conference on Saturday, the panel approved an increase in the GST rate on used EVs sold by businesses to 18 per cent from 12 per cent earlier.
Finance Minister Nirmala Sitharaman on Thursday reviewed the current state of the economy at the meeting of the Financial Stability and Development Council (FSDC), a body of financial regulators.
According to a news agency no statement from the government has been announced however, Finance secretary Rajeev Kumar said the entire financial system and other issues came up during the meeting. He did not specify the details but said the RBI along with other regulators is holistically looking at the financial sector issues.
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The Q2 GDP growth is expected in November end and it will be the decider to see what further directions and policy measures are needed. The government has announced several short and long-term measures to boost the economy in three phases between August 23 and September 14.
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The Q1 GDP growth fell to 6-year low in the current fiscal at 5 per cent led by a slowdown in the manufacturing sector.
(With input from agencies)
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