-Livemint.com The simplification process may result in some readjustment of GST rates, including a possible reduction in tax of some items that are in the highest tax slab of 28% New Delhi: Policymakers are considering steps to ease the compliance burden related to the goods and Services tax (GST) on small businesses and to make product classification for taxation less complicated, said revenue secretary Hasmukh Adhia. The simplification process may result in some...

-The Hindu Business Line AIBOC questions legality of mandating UID linking of accounts Coimbatore: The All India Bank Officers’ Confederation (AIBOC) wants Aadhaar seeding of accounts put on hold till the Supreme Court comes out with a clear directive. “The government should make it clear to the people that the seeding of Aadhaar is voluntary and not mandatory,” said D Thomas Franco, General Secretary, AIBOC. He said the Aadhaar Act of 2016 was meant...

-Livemint.com Only RBI has the power to issue directives to banks, says Indian Banks’ Association Mumbai: The Indian Banks’ Association (IBA) has questioned the jurisdiction of the Unique Identification Authority of India (UIDAI) in issuing directions to banks under the Aadhaar Act, according to two people aware of the matter. IBA has written to the ministry of electronics and information technology, the Reserve Bank of India (RBI) and the finance ministry’s department of...

-PTI An Assocham survey shows the 35-40% reduction in gifts from corporate houses was in sync with low-key festivities due to slowdown concerns Lucknow: Reeling under disruptions arising out of demonetisation and goods and Services tax (GST) rollout, corporate India is going rather lukewarm in Diwali gifts, slashing the budget under the head by at least 35-40%, the Associated Chambers of Commerce and Industry of India (Assocham) said. A survey by industry chamber...

-Newsclick.in An average urban family suffers from chronic undernutrition, with its food consumption deficient in protein, energy, and important vitamins and minerals. A recently released report on the Nutritional Status of Urban Population by National Nutrition Monitoring Bureau (NNMB), throws light on the chronic undernutrition faced by India’s urban population, particularly the urban poor. The report compares the average consumption of different food groups by the urban population, to the scientifically calculated Required...