Transaction tax

Top Headlines: GST Council meeting starts today, Vedanta turns to LIC and more



At a time when higher US interest rates have made it costly for Indian companies to tap into foreign bond markets, mining major Vedanta Limited has likely entered into a direct deal with Life Insurance Corporation of India (LIC) to raise Rs 4,809 crore 10-year bond. Airbus SE has emerged as favorite to win a $5.5 billion plane order from Jet Airways India, people familiar with the matter have said, cementing the European planemaker’s grip on the market. fastest growing aviation market in the world.




The GST Council meeting will begin on Tuesday with a packed schedule of action

The two-day meeting of the Goods and Services Tax (GST) Council, which begins Tuesday in Chandigarh, is expected to be action-packed. Shrimi Choudhary explains the issues the Council is likely to address:

Remuneration extension

Issue: Although the Center has in principle agreed to extend the suspension of compensation until March 2026 for debt repayment, many states are asking for an extension of at least two years of the regime citing a shortfall . Read more


Vedanta turns to LIC for Rs 5,000 cr as offshore borrowing becomes costlier

At a time when higher US interest rates have made it costly for Indian companies to tap into foreign bond markets, mining major Vedanta Limited has likely entered into a direct deal with Life Insurance Corporation of India (LIC) to raise Rs 4,809 crore in 10-year bonds, multiple sources told Business Standard. “It’s a structured transaction with LIC that they (Vedanta) are doing. They (Vedanta) are rated AA. It is a 10 year old paper. It is a direct exchange with no-coupon auctions; it’s an open tender,” a senior Treasury official said. Read more



SC urges Uddhav government not to disqualify rebel Shiv Sena MPs until July 11

Acting against rebel Shiv Sena MPs, Maharashtra Chief Minister Uddhav Thackeray on Monday stripped the portfolios of nine ministers who jumped ship, while dissenting MPs took their fight to the Supreme Court, which suspended the disqualification procedure against them before the Member of the Assembly. Speaker until July 11. Read more


Airbus set to win $5.5 billion order from Jet Airways: report

Airbus SE has emerged as favorite to win a $5.5 billion plane order from Jet Airways India, people familiar with the matter have said, cementing the European planemaker’s grip on the market. fastest growing aviation market in the world. The talks relate to the A320neo and A220 jets, the sources said, asking not to be identified as the deliberations are private. Read more


The sale of the NMDC steel plant could add up to $4 billion to the company’s valuation

Bankers and shareholders of mining company NMDC are expected to clear the steel mill’s spin-off on Tuesday, paving the way for its sale. Some of India’s largest steel companies are expected to participate in the spin-off entity’s sale process, which could yield a business valuation of up to $4 billion, as competition will be intense due to its access to ore mines. Chhattisgarh iron, according to bankers. Read more

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