Articles published in The Hindu Businessline, The Times of India, Mumbai Edition and Asli Azadi.
Dear all,
Your association SIMA is forwarding herewith Articles published in The Hindu Businessline, The Times of India, Mumbai Edition and Asli Azadi e-paper.
1. Relief for back-office firms: Govt withdraws GST circular on intermediary services: The Hindu Businessline, dated 05.12.2019.
In what could be seen as a major relief for corporates, especially multinational companies, the government has decided to withdraw a circular on intermediary services under the GST.
This circular, issued in July, had created a lot of upheaval in the back-office/IT services industry. Substantial GST refunds were also stuck because of this circular...To read the full article PLEASE CLICK HERE.
2. RBI slashes growth forecast, leaves key rate unchanged: Times of India, dated 06.12.2019.
(Cites Inflation, Lag In Passing On Cuts To Borrowers)
The RBI’s monetary policy committee (MPC) on Thursday slashed its GDP growth estimate but disappointed markets and borrowers by keeping its key policy rate unchanged after reducing it five consecutive times in 2019. It was widely expected that the central bank would reduce its repo rate—at which it lends to banks—by 25 basis points to a 10-year low of 4.9%.
RBI retained the repo rate at 5.15% even as it cut its GDP growth estimate for 2019-20 by 110 basis points to 5% from 6.1% forecast two months ago. Despite the lower growth, RBI said inflation would be higher than expected, in the range of 4.7% to 5.1%...To read the full article PLEASE CLICK HERE.
3. Newspaper article published in Asli Azadi, dated 06.12.2019.
To read the full article PLEASE CLICK HERE.
Thanking you,
With regards,
For Silvassa Industries & Manufacturers Association
Narendra Trivedi
Secretary
