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Missed all the important financial news this week because you were jet-setting? It’s been a busy week. Here’s a curated reading list of the Hindu BusinessLine’s top stories on the economy over the week.
Salary’s safe
The CBIC has thankfully scotched reports that it plans to slap GST on CXO pay
Also read: No GST on salary, says CBIC
AGR pain
Even as the telecom majors pleaded for relief from the massive AGR levy brought on by the Supreme Court ruling last week, the Department of Telecom has asked them to pay up their dues after self-assessment.
Read more: No relief on AGR, Airtel, Vodafone Idea asked to pay dues after self-assessment
RIL argument
In its appeal against SEBI’s disgorgement order against it for unfair trading in RPL shares, Reliance Industries has argued that there’s nothing wrong in a company pocketing gains by shorting a stock on F&O.
Also read: Business decision to sell Reliance Petroleum shares, RIL tells Securities and Appellate Tribunal
Clearing the air
A Supreme Court ruling striking out earlier NCLAT interventions in the Essar Steel case, has upheld the superior rights of financial creditors, and paved the way for ArcelorMittal to take over the distressed steel maker.
Read more: Why the Supreme Court ruling in the Essar Steel case is important
Don’t change it
MSMEs have opposed the Centre’s move to re-define small enterprises on the basis of turnover criteria, rather than the conventional criteria of investment in plant and machinery.
Also read: MSMEs oppose government move to redefine classification based on turnover
More cover
After much lobbying, the insurance cover on bank deposits may be finally set to go up from the current Rs 1 lakh, set in 1993.
Also read: Government mulls over raising insurance cover on bank deposits to above Rs 1 lakh: Finance Minister
Picking up
Steel prices are edging up as inventories began to moderate from November
Also read: Steel companies hike prices by Rs 500-750 a tonne for the first time this fiscal
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