Day: March 3, 2020

Stocks Pare Gains in Asia; Yen Climbs With Bonds: Markets Wrap

(Bloomberg) — Japanese stocks surrendered gains and U.S. futures came off their highs Tuesday after a wave of initial enthusiasm about central banks kicking into gear to protect the global economy from the hit of the coronavirus.

Central bankers from the U.S., Japan and Europe pledged to act as appropriate to address mounting risks from the coronavirus and Group of Seven finance chiefs confer by phone Tuesday. The Aussie gained after the Reserve Bank of Australia cut rates by a quarter point and said it is ready to ease further. A report from South Korea showing another jump in coronvirus

Government detects GST evasion of Rs 70,000 crore since tax’s launch

The tax department managed to recover nearly half of this amount (Rs 34,591 crore), minister of state for finance Anurag Singh Thakur said in Lok Sabha.

The finance ministry on Monday said that the central GST authorities have detected evasion of Rs 70,206 crore between July 1, 2017 launch of GST and January, 2020. The tax department managed to recover nearly half of this amount (Rs 34,591 crore), minister of state for finance Anurag Singh Thakur said in Lok Sabha.

The incidence of GST evasion could be much higher if cases detected by state GST authorities are also taken into

Vodafone Idea AGR Dues: Nick Read seeks meeting with Prasad

“VIL has recently made payment of Rs 3,500 crore towards part payment of self-assessed principal (excluding interest and penalty) dues emerging from the AGR issue.

Vodafone Group’s global CEO, Nick Read, has sought a meeting with telecom minister Ravi Shankar Prasad on March 6. The meeting request was sent on February 28 but so far the minister’s office has not reverted with any confirmation, sources told FE.

Vodafone Plc, which is present in India through its joint venture, Vodafone Idea is currently battling to pay its adjusted gross revenue (AGR) dues totalling Rs 53,039 crore. The company, which has so