GST at 5-month low; auto sales crash; MSMEs to get relief package

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GST at 5-month low; auto sales crash; MSMEs to get relief package
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twitter-logo BusinessToday.In   New Delhi     Final Up to date: April 1, 2020  | 22:31 IST

Items and Companies Tax (GST) assortment has slipped under Rs 1 lakh crore mark in March, hitting a five-month low of Rs 97,597 lakh crore, as a consequence of impression of coronavirus outbreak on the economic system. Market chief Maruti Suzuki recorded a steep 47.Four per cent decline in gross sales final month at simply 76,976 models in opposition to March 2019, whereas different producers posted equally distressing gross sales figures. Reeling beneath coronavirus disaster, exporters and MSMEs might count on interim monetary reduction with authorities readying a bundle for the 2 key sectors. Learn for extra prime tales from the world of enterprise and economic system:

1.Coronavirus impact: GST assortment slips under Rs 1 lakh crore mark in March, hits 5-month low

The GST assortment for March embrace CGST (Central GST) of Rs 19,183 crore, whereas SGST (State GST) and IGST (built-in items and companies tax) have been recorded at Rs 25,601 crore and 44,508 crore, respectively.

2. Coronavirus impression: Maruti Suzuki’s gross sales crash 47% in March, others might carry out worse

Maruti was one of many first firms to shift its manufacturing from BS IV to BS VI emission norms that come into impact throughout the nation from at this time.

3. Coronavirus impression: Sensex sinks 1,203 factors in first session of FY21, Nifty under 8,300

International indices got here out of the worst quarter ever skilled as a result of coronavirus pandemic. Q1 efficiency for the US market was the worst ever whereas Europe noticed its worst Q1 in 18 years. Equally, the 30-share index recorded its largest quarterly fall of 28.7% within the Jan-March quarter.

4. Coronavirus-hit MSMEs, exporters to get reduction bundle

MSME sector representatives had final Saturday sought authorities assist for fee of salaries saying they’d not have the ability to disburse salaries and retain workers.

5. Govt might lengthen Air India bid deadline as coronavirus disrupts financial exercise

The aviation sector has been hit laborious by COVID-19 with airways cancelling worldwide flights and asserting pay cuts for workers.

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