India-US Ties: Prime Minister Narendra Modi and President Donald Trump have agreed to strengthen the Indo-US economic partnership in a way that results in a win-win for the two major economies, while cordially working on resolving differences.
Natural Gas May Be Included in GST: The GST Council may decide to include natural gas in the Goods and Services Tax (GST) regime as a measure to provide some relief to the oil and gas sector. Currently, crude oil, petrol, diesel, jet fuel or aviation turbine fuel (ATF) and natural gas are not included in the new indirect tax structure, which is set to kick in on July 1.
Fewer Mobiles: Handset makers have cut local production by 10-15% this month to avoid oversupply when the goods and service tax (GST) kicks in on July 1, even as distributors are refraining from stocking up for want of adequate clarity on the impact of the new tax regime.
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