Amid the ongoing debate over goods and services tax (GST) rate on hand sanitizers, the Goa bench of the GST Authority of Advance Ruling (AAR) has held that the alcohol-based hygiene product will attract 18 per cent GST. It added that its classification as an essential commodity cannot be a criteria for exemption from GST.

Springfields (India) Distilleries had moved Goa AAR over classification of the hand sanitizer and the applicable rate of GST.

Mukesh Ambani surged past Silicon Valley tech titan Elon Musk as well as Alphabet co-founders Sergey Brin and Larry Page to become the world’s sixth-richest person.

The chairman of Reliance Industries, whose wealth surpassed Warren Buffett’s last week, is now worth $72.4 billion, according to the Bloomberg Billionaires Index. Shares of the conglomerate have more than doubled from a low in March as its digital unit got billions in investments from companies including Facebook, Silver Lake and, most recently, Qualcomm.

Prime Minister Narendra Modi will deliver a keynote address virtually at the Valedictory of High-Level Segment of the UN ECOSOC on July 17 in New York, on the eve of the 75th anniversary of the United Nations. This comes as an important bit of development as it will be Prime Minister Modi's first speech at the UN after India's Security Council win, said TS Tirumurti, the Permanent Representative of India to the UN.

Two indigenous Indian candidate vaccines have got clearance to start early phase human trials this month with both having approximately 1,000 human volunteers each, the Indian Council of Medical Research (ICMR) said on Tuesday.

Speaking a media briefing of the Ministry of Health and Family Welfare on COVID-19 situation in the country, Balram Bhargava, DG, ICMR said 60% of the vaccines supplied in the world are of Indian origin.

The Trump administration on Tuesday went back on his immigration policy and abandoned plans to deport international college students who did not attend certain classes in person amidst the pandemic.

It is to be noted that the United States announced last week that it will not allow foreign students, whose classes have moved online in the fall semester for the coronavirus disease (COVID-19) pandemic outbreak, to remain in the country and might initiate removal proceedings in case the instructions are not adhered to.

The European Union has been briefed by both New Delhi and Beijing on the recent India-China border clashes, with Brussels welcoming the recent de-escalatory steps between the two countries.

An EU official, ahead of the India-EU summit said, We have certainly received detailed information on how the two government see clashes at the border. But what is most important is they are talking to each other--at diplomatic, military and even the political level.

As many as 17 US states and the District of Columbia have filed a lawsuit against the Trump administration's new visa policy for international students, calling it a "cruel, abrupt, and unlawful action to expel them amidst the COVID-19 pandemic.

In its July 6 order, the US Immigration and Customs Enforcement (ICE) declared that the nonimmigrant students with F-1 and M-1 visas attending schools operating entirely online or taking only online courses will not be permitted to remain in the United States.

A total of 1,550 COVID-19 cases and nine deaths were reported in Telangana on Monday, said the state's health department.

The state's total COVID-19 cases now stand at 36,221, including 12,178 active cases and 23,679 recoveries.

The deadly virus has so far claimed 365 lives in the State.

Gold prices on Tuesday jumped to Rs 49,050 from Rs 49,010 per 10 gram, while silver climbed to Rs 52,210 from Rs 52,000 per kilogram, according to Good Returns website.

Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

Shares of 5Paisa Capital were locked in 5 per cent upper circuit at Rs 324.60 on the BSE on Tuesday after the company posted net profit of Rs 3.74 crore in June quarter (Q1FY20), against net loss of Rs 55 lakh in the year-ago quarter.

The company has reported quarterly profits for the first time since the launch of 5Paisa in March 2016. The stock was trading at its 52-week high level.

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