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Sushil Modi, the deputy chief minister of Bihar, has replaced Finance Minister Nirmala Sitharaman as the convener of a Group of Ministers on Integrated Goods and Services Tax (IGST), as per sources from the GST Council.The sources revealed on December 11 that the finance minister was 'inadvertently' named as the convenor of the panel. It happened after Sitharaman had had a meeting with deputy chief ministers of Puducherry and Delhi, and finance ministers from Rajasthan, Madhya Pradesh and Punjab on December 4.The finance minister cannot head the panel since she is the chairperson of the GST Council, the sources further said.Close The GoM will deliberate on IGST issues of the states and submit its recommendations to Sitharaman. related news 52,720 Integrated GST refund claims pending for more than one year: Anurag Thakur IGST settlement: Sushil Modi to head GoM, FM Nirmala Sitharaman opts out of panel RBI had no objection to issuance of electoral bonds through SBI: FM … [Read more...] about Sushil Modi replaces FM Nirmala Sitharaman as head of IGST Group of Ministers

General Motors Co (GM) could expand the lineup of vehicles using its large truck and sport utility vehicle (SUV) architecture and sees big opportunities in over-the-air software updates, President Mark Reuss told Reuters on December 10.GM, which controls about 70 percent of the large SUV market in North America with six models, unveiled the redesigned Chevrolet Tahoe and Suburban. These are the first of a new generation of large SUVs whose profits will help fund the development of electric vehicles (EVs) from the automaker in the future.The 2021 Chevrolet Tahoe, revealed at the arena where the Detroit Red Wings hockey team plays in downtown Detroit, is 6.7 inches longer than the current Tahoe and can carry as much as 122.9 cubic feet of cargo. Passengers in the third row of seats get 10 inches more legroom and a better ride thanks to a more car-like independent rear suspension.Close The new Chevy Suburban will grow by 1.3 inches to 225.7 inches long - making it one of the … [Read more...] about General Motors doubling down on big SUVs, unveils longer Chevy Tahoe, Suburban

The Citizenship (Amendment) Bill, 2019 will be introduced in the Rajya Sabha on December 11. The Bill is likely to be taken up for consideration and passing following a debate.After having been debated for many hours, the contentious Bill was passed in the Lower House on December 9, with 334 members favouring it and 106 voting against it.Several amendments brought by opposition members, including one by a Shiv Sena Member of Parliament (MP), were defeated either by voice vote or by division.Close The Bill seeks to amend the Citizenship Act, 1955. According to the Bill, members of Hindu, Sikh, Buddhist, Jain, Parsi and Christian communities, who have come from Pakistan, Bangladesh and Afghanistan till December 31, 2014, facing religious persecution in their respective native countries, will not be treated as illegal immigrants and stand eligible for Indian citizenship. related news Manmohan Singh among 8 parliamentarians honoured by Venkaiah Naidu Six dead, including a cop … [Read more...] about Citizenship (Amendment) Bill in Rajya Sabha today: Protests rock Northeast; BJP confident of passage

Erik Hon“If you always do what you’ve always done, you’ll always get what you’ve always got” – AnonymousNever, perhaps, has the pressure to change been as strong for Indian advisers as it is today. While the retail investor market in the country remains attractive, independent financial advisers (IFAs) with the traditional commissions-driven distribution business model feel that their livelihood is being threatened, both by regulators as well as zero-cost platform challengers.Close For a retail investor today, online platforms offering investments at zero or no costs have become an attractive starting point. Most platforms offer direct plans, pre-empting informed investors’ questions on commissions and bias, and also offer several tools around SIPs (systematic investment plans), fund switching, rebalancing and goal-based planning. As a result, the gamut of basic, transactional services around investments is fast being commoditised, and IFAs, … [Read more...] about How IFAs can withstand the onslaught of zero-cost platforms