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High value cars, jewellery to become cheaper as TCS to be excluded in computing GST

EY India Tax Partner Abhishek Jain said: “This clarification comes as quite a relief for businesses specifically the automotive sector. While most industry players already believed that GST should not be levied on the Income tax TCS component, given the otherwise clarification by the Government, they were quite apprehensive of litigation on this aspect”.

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AIC chief TL Alamelu appointed as member,non-life,IRDAI

However, the much awaited order on the appointment of chairman of  Life Insurance Corporation(LIC) has not been announced as yet.Though, there is a buzz that  the name of MR Kumar,zonal manger, Delhi and the senior most LIC official, has been cleared by the ACC and PMO on Friday, no notification has been issued by the DOPT on Sunday. Similarly the names of Vipin Anand, zonal manager, Western Zone, and TC Suseelkumar, ZM, Hyderabad,are doing the rounds as newly appointed managing directors of the corporation.

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