Day: April 1, 2020

U.S. Stock Futures Drop With Trump Virus Warning: Markets Wrap

(Bloomberg) — U.S. stock futures declined as investors assessed worsening American coronavirus figures as a new quarter begins. Asian shares traded mixed.

Futures on the S&P 500 Index slid more than 2% after President Donald Trump warned of a “painful” two weeks ahead, with the country grappling to get the outbreak under control and New York City’s death toll now topping 1,000. Stocks in Japan hit session lows in the final hour of trading, while Australia’s rallied more than 3%. Hong Kong shares had a modest retreat, with two of the city’s largest lenders, Standard Chartered Plc and HSBC Holdings

As GST approaches third anniversary, these stumbling blocks still linger implementation

In recent years, the government has given a big push to digital India and it reflects in GST law also.

GST Law is about to celebrate its third anniversary and it has been a roller coaster journey for the law. The GST Council and the government have been very proactive in making amendments in the law to give benefits to various stakeholders including consumers, businesses and field officers. However, there are still some concerns that are turning out to be roadblocks and not allowing the law to settle down completely.

Technological issues
In recent years, the Government has given a

Compounded interest to be charged from borrowers during 3-month moratorium: IBA

The organisation of banks has urged borrowers to avail relaxations only if there is a disruption in cash flows or loss of income due to Covid-19.

By Ankur Mishra

Borrowers opting for the three-month moratorium granted by their lenders will have to pay compounded interest at the end of the period, Sunil Mehta, chief executive, Indian Banks’ Association (IBA), clarified in a frequently asked questions (FAQ) document reviewed by FE. Banks have individually started announcing Covid-19 regulatory package in a response to RBI’s announcement of three months moratorium on term loans including corporate, MSME, agriculture, retail, housing, auto and