Shanghai Motors Analysis

8/8/2015

1. Global electronic manufacturing giant Foxconn today announced it will invest $five billion over the next five years in Maharashtra, which has given the Taiwan-based company 1,500 acres of land for its plant. Foxconn will create direct employment of 50,000 people through this MoU.

2. Why GST cannot be passed by calling both the houses? - Also, there cannot be a joint session for such a Bill as Article 368 of the Constitution requires each House to pass the Bill by the prescribed special majority. So, the Bill can only be taken up when the House is in order. Once, both Houses approve the Bill, it will need a nod from at least half of the State Assemblies, after which the President will give his assent. After that, three legislations, one for CGST, one for SGST and one for IGST, need to be enacted. Only then will the new indirect tax reform be implemented.

3. On the 1percent extra tax on Corporates in GST- Rather than recommending its (1 per cent additional tax) removal from the GST Bill, the Panel has instead pitched for a definition of ‘supply’ that would only bring inter-State sales — and not branch transfers — to the 1 per cent additional tax levy.

12/8/2015

1. Greece 3rd bailout agreed upon of USD 94Billion.

2. South Korean steel giant Posco signed an agreement with Shree Uttam Steel and Power Ltd. For 3million tonnes per annum production in Maharashtra.

3. PayTm crossed 100million users for its mobile wallet service. CEO Vijay shekhar Sharma(DTU Passout).

4. India Inc joins 17,000-strong online plea to end Parliament logjam. Major Industrialists were Kiran Mazumdar Shaw(Biocon), Rahul Bajaj(Bajaj Group) and Adi Godrej.

5. Central Govt’s salary expenditure for its employees to exceed 1 lakh crore in FY16 after the recommendations of 7th pay commission.

6. Consumer Affair Ministry has imposed a fine of Rs 640 Cr on Nestle and the amount will be deposited in consumer welfare fund.

7. Sanctions will not be lifted until Iran has complied with...