Fri, Feb 9, 2024 2:01 PM
Rs 40,000 cr blow! FPIs dumped stocks in 7 sectors January!
A Flip by Avya Verma
Airlines — as part of the ongoing consultations with the Ministry of Finance and the Ministry of Civil Aviation (MoCA) — have requested the government to extend the cut of excise duty on blended aviation turbine fuel (ATF) to 2 per cent for domestic flights before making the use of blended ATF mandatory, multiple government officials told Moneycontrol.
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Tax officers have detected 18,000 fake companies under GST, involved in tax evasion of Rs 25,000 crore, following a nationwide drive against fake registrations. The drive identified 73,000 suspect companies, with 18,000 found non-existent, and voluntary GST payments of Rs 70 crore were made. Tax officers have been taking targeted action to prevent fake registrations.
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Indonesia's automotive industry association Gaikindo has slashed its 2024 sales forecast by 15% to 850,000 units due to declining wholesale deliveries, with high interest rates hindering consumer spending. Indonesia's government is seeking to attract foreign investment in the sector and may reintroduce tax incentives for electric vehicle purchases to stimulate the market.
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