The Goods and Services Tax Council on Friday gave its nod to convert GST Network, the information technology backbone of the new indirect tax system, into a government-owned company after concerns were raised about the security of taxpayers’ data on the portal. The Council allowed the Centre and states to acquire the entire 51 per cent equity, worth Rs 50.1 million, held by non-governmental institutions in the GSTN.

The government is looking at reducing the spectrum usage charges (SUC) and other levies in a move to help the stressed telecom sector emerge stronger.

The Department of Telecommunications (DoT) has indicated that as part of the national telecom policy, which is likely to be released next month, various levies and charges including SUC would be reviewed in line with the input tax credit available.

A company engaged in trading in crypto-currencies has challenged an RBI circular, prohibiting banks and financial institutions from providing services in relation to such virtual currencies, in the Delhi High Court.

The plea was yesterday listed for hearing before Justice Rajiv Shakdher, who asked the high court registry to place it before the bench which is already hearing a similar matter.

German luxury carmaker Mercedes-Benz today launched the all new version of AMG E-63 S in India with price starting at Rs 10.5 million (ex-showroom).

With the addition of the new model, the company now offers 14 AMG models in the country.

Sebi has kept HDFC Asset Management Company's proposed IPO in abeyance "for examination of past violations," the latest update with the markets regulator showed.

However, the Securities and Exchange Board of India (Sebi) did not clarify further.

India's leading carmaker Maruti Suzuki has set up the first Institute of Driving Training and Traffic Research (IDTR) in Bihar and was inaugurated by Chief Minister of Bihar Nitish Kumar.

This new IDTR will set standards for quality driving training and also impart driving training, theoretical and practical, to aspiring and existing drivers. Maruti Suzuki says that this initiative will focus on the ‘Train-the-Trainer’ model, to have a multiplier effect and upgrade the driving skills of a larger number of people.

Reliance Jio launched JioInteract, a brand engagement platform, on Thursday. The platform will use artificial intelligence to listen to customers’ queries and respond appropriately.

The platform will start doing live video calls from Friday. It has a unique auto-learning feature that will help improve answering accuracy.

STOCKHOLM: Within a year of setting up its plant, Volvo Car India plans to accelerate its manufacturing footprint in the country. The company expects majority of its product portfolio to be locally manufactured in the coming two years as it aims to compete more strongly with German rivals — Mercedes, BMW and Audi.

MUMBAI: Tata Motors will sell its defence business to sister company Tata Advanced Systems (TAS) for up to Rs 2,475 crore. The sale forms part of Tata Motors’ strategy of monetising its non-core assets and use the proceeds to bring down its debt, while for TAS, the transaction aids in consolidating its presence in the defence sector.

BENGALURU: Wipro Consumer Care and Lighting (WCCL), part of the unlisted entity Wipro Enterprises, has entered the $1-billion-dollar revenue club. The company did Rs 6,630 crore, or just about $1 billion, in 2017-18. That’s a growth of 10% from last year, when it did $908 million.

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