Govt sets up expert panel to relook tobacco tax rates

The mandate of the group includes analysing current tax structure of all forms of tobacco, including smokeless tobacco, and suggesting various tax rate models for consideration in the preparation of FY23 and future Union budgets. Key points to note – The idea is to have a road map for reducing tobacco demand as per World … Read more

RBI supersedes Srei’s Board. Appoints administrator.

RBI on October 4, 2021 superseded the struggling NBFC, Srei’s board, appointed an administrator (ex CGM of Bank of Baroda) and intends to shortly put it under the insolvency process (ICBC). Action has covered both Srei Infrastructure Finance and it’s wholly owned subsidiary Srei Equipment finance Ltd. Key points to note – The action came … Read more

Govt provides much needed ‘immediate’ relief to the telecom sector

Cash strapped Indian telecom sector was looking at the govt for long and govt abides… The much anticipated reforms are announced. Broadly they provide deferment of the immediate regulatory payments and a cleaner future process to operate. Key points – 4 year moratorium on all spectrum and Adjusted Gross Revenue (AGR) dues. However, interest would … Read more