Business
Curd, lassi, cheque books, ink among things to turn costlier
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Come July 18, 18 per cent Goods and Services Tax (GST) will be applicable on bank cheque book/loose leaf cheques and 12 per cent on maps, atlas, and globes.
Similarly, unbranded but pre-packed curd, lassi, butter milk, food items, grains etc will be brought under the GST net from the exemption list.
Writing, printing, or drawing ink will also become costlier.
The rate rationalisation decision was taken at the two-day 47th GST Council Meeting, chaired by Union Finance Minister Nirmala Sitharaman, that started in Chandigarh on Tuesday.
On the other hand, the GST rates on medical items like ostomy and orthopaedic appliances – splints and other fracture appliances, artificial parts of the body, other appliances which are worn or carried, or implanted in the body, to compensate for a defect or disability, and intraocular lens- has come down to five per cent from 12 per cent.
The GST for transport of good and passengers by ropeway is down to five per cent from 18 per cent and the renting of truck/goods carriage where cost of fuel is included brought down by six per cent to 12 per cent.
The other items for which GST rates has been increased are printing, writing or drawing ink (12 per cent to 18 per cent), knives with cutting blades, paper knives, pencil sharpeners and blades therefor, spoons, forks, ladles, skimmers, cake-servers etc (12 per cent to 18 per cent), power driven pumps primarily designed for handling water such as centrifugal pumps, deep tube-well turbine pumps, submersible pumps; bicycle pumps (12 per cent to 18 per cent).
The rate on machines for cleaning, sorting or grading seed, and grain pulses, machinery used in milling industry or for the working of cereals etc, ‘pawan chakki’, or air-based atta chakki, wet grinder goes up from five per cent to 18 per cent.
Machines for cleaning, sorting or grading eggs, fruit or other agricultural produce and its parts, milking machines and dairy machinery will have rates going up from 12 per cent to 18 per cent.
LED lamps, lights and fixture, their metal printed circuits board, drawing and marking instruments move up from 12 per cent to 18 per cent and solar water heater and systems, prepared/finished leather/chamois leather/composition leathers from five per cent to 12 per cent.
In respect of the services, the rates have been revised upwards in the case of services supplied by a foreman in a chit fund, job work in relation to processing of hides, skins and leather, leather goods and footwear, manufacture of clay bricks, and works contract for roads, bridges, railways, metro, effluent treatment plant, crematorium and others.
The concessional rates for electronic waste, petroleum, and coal bed methane has also been increased.
Exemption on transport of passengers by air to and from North East states and Bagdogra is being restricted to economy class.
Hotel accommodation, priced upto Rs 1,000 per day, shall be taxed at 12 per cent and room rent (excluding ICU) exceeding Rs 5,000 per day per patient charged by a hospital shall be taxed to the extent of amount charged for the room at five per cent without input tax credit.
Tax exemption on training or coaching in recreational activities relating to arts or culture, or sports is being restricted to such services when supplied by an individual.
Exemption on following services is being withdrawn – transportation by rail or a vessel of railway equipment and material, storage or warehousing of commodities which attract tax (nuts, spices, copra, jaggery, cotton etc.), fumigation in a warehouse of agricultural produce, services by the RBI, the IRDA, the SEBI, and the FSSAI, GSTN, renting of residential dwelling to business entities (registered persons), and services provided by the cord blood banks by way of preservation of stem cells.
Business
Mumbai: MahaRERA To Launch New ‘MahaCRITI’ Website On September 1, Existing Portal Offline For Migration On August 30-31
![Mumbai: MahaRERA To Launch New 'MahaCRITI' Website On September 1, Existing Portal Offline For Migration On August 30-31](https://mumbaipress.com/wp-content/uploads/2024/08/Untitled-1-64.jpg)
The Maharashtra Real Estate Regulatory Authority’s (MahaRERA’s) new website ‘MahaCRITI’ will be launched on September 1 at 00.00 hours. To enable the migration to the new portal, the existing MahaRERA’s website will go offline on August 30 and 31.
During this transition period, the back-end team will perform various technical tasks to provide better user experience.
MahaRERA will also conduct classroom and virtual training for all real estate stakeholders to facilitate familiarity, easy navigation and user friendliness of MahaCRITI.
The training, that commenced on Thursday, will continue on August 30 and September 1 at MahaRERA’s head office situated in Bandra-Kurla Complex. The housing regulator has announced training schedule on the website. Videos on the training demo shall also be made available on MahaRERA’s portal.
The stakeholders are encouraged to participate in these sessions for a hands-on experience with the new system.
The training’s second phase will be available for two weeks after the website goes live on September 1. The training module will also guide the complainants as well as lawyers on complaint registration and its further process.
Developers, promoters and their self-regulatory bodies will be guided on how to use the website effectively for routine tasks such as registration of new housing projects, corrections, extensions as per requirement, quarterly progress reports, annual progress reports and project completion Form 4.
Business
2025 Yamaha YZF-R15 Launches Globally with Exciting New Features and Color Choices
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Yamaha has launched an updated version of its YZF-R15 in Indonesia, enhancing its entry-level sports bike with new features and a fresh look. The updated model now offers smartphone connectivity, similar to the version available in India. It also introduces a striking-black color option, along with grey/silver/, grey/black, and blue. Despite these upgrades in features and appearance, the bike maintains its original mechanical design, ensuring reliability while appealing to new and existing riders.
The 2025 Yamaha YZF-R15 for the Indonesian market maintains its familiar 155cc single-cylinder engine with VVT, producing 18.1 bhp and 14.2 Nm of torque, and is paired with six-speed transmission. It features a monoshock rear suspension and inverted telescopic front forks, along with dual-channel ABS and disc brakes on both wheels. While it lacks the traction control found on the Indian model, it retains its Deltabox frame, an 11-liter fuel tank, and a total weight of 141 kg, all supported by 17-inch alloy wheels.
The 2025 Yamaha YZF-R15 comes equipped with a range of advanced features, including dual-channel ABS, traction control, a slipper clutch, and a quick shifter. It also features a fully digital instrument cluster that provides not only essential ride information but also ride tracking, onboard diagnostics, and periodic maintenance reminders, enhancing the overall riding experience.
India Yamaha Motor has marked a notable milestone in its manufacturing history with the success of the Yamaha Ray ZR 125 Fi-Hybrid in Europe. This scooter, produced in India, has gained considerable traction across several European nations. From January to July this year, approximately 13,400 units of the Ray ZR 125 Fi Hybrid were sold across 27 European countries.
Consumers have responded positively to the Yamaha Ray ZR 125 Fi Hybrid, appreciating its well-rounded design and features. The scooter has received a positive response across major European markets such as the UK, Spain, France, Italy, Germany, Turkey, Switzerland, Greece, and Portugal.
Business
Markets Continue To Trade In Red; Sensex & Nifty Decline Further
![](https://mumbaipress.com/wp-content/uploads/2024/08/Untitled-1-54.png)
The Indian markets opened flat on Monday, with Sensex at 79,571.37, down by 77.55 points or 0.10 per cent, and Nifty at 24,320.50, also down by 26.50 points or 0.11 per cent.
Nifty Bank in the morning session was trading low at 50,483.90, down by 94.05 points or 0.19 per cent.
From the Sensex pack, ICICI Bank, NTPC and Kotak Bank were among the major gainers in the morning session, whereas HDFC Bank, Asian Paints and Titans were among the laggards.
From the Nifty tranche, Apollo Hospital, ICICI Bank and Axis Bank were among the gainers, while Shriram Finance, BPCL and Tata Motors were among the losers.
The Indian rupee opened at 83.96 against the dollar.
Markets on Monday
The stock markets ended Friday on a lower note for both the BSE Sensex and the NSE Nifty.
On Monday, August 12, the BSE Sensex decreased by 25.46 points or 0.03 per cent, ending the day at 79,680.45. Similarly, the NSE Nifty dropped by 20.50 points or 0.08 per cent to close at 24,347.00.
Gainers and Losers
Gainers: On the BSE tranche, at the time of writing, major gainers included Axis Bank, JSW Steel and Infosys with gains of over 1 per cent. Voltas made mammoth gains of 10.40 per cent.
Losers: Amongst the losers, NTPC, Power Grid and Adani Ports made gains of over 1 per cent.
Energy and International Markets
U.S. West Texas Intermediate crude (WTI) decreased by 0.90 per cent to USD 79.34 a barrel at 09:08 IST. Brent crude prices also decreased by 0.92 per cent to USD 81.54 a barrel at 09:08 IST.
On Monday, both the S&P 500 and Nasdaq saw a collective jump in their numbers, meanwhile, Dow Jones Industrial Average also saw a drop its value.
The S&P 500 closed at 5,344.39, gaining 0.0043 per cent. The Dow Jones Industrial Average ended at 39,357.01, gaining 0.36 per cent.
Additionally, the Nasdaq Composite saw a rise of 0.21 per cent to reach 16,780.61.
The Asian indices started in Green, while Japan’s Nikkei 225 index gained 2.17 per cent to reach 35,785.55, at the opening of the day’s trade. Hong Kong’s Hang Seng index rose by 0.23 per cent to reach 17,150.75 points. South Korea’s KOSPI observed a drop in its numbers, as it decreased by 0.048 per cent to reach 2,617.05.
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