Market and Business News

- Industrial Guidance : Dhiru Parekh Alumina stands for aluminum oxide chemical compound of aluminum and oxygen = chemical formula AI2O3. Aluminum oxide has proven to be an excellent thermal and electrical insulator. This products crystalline form is called 'corundum'. These products are used to harden abrasives as well as components in cutting tools. These products are extensively used for manufacturing of aluminum metal as well as for furnace refectory. Because these products have heat resist property. 'Corundum' is an aluminum oxide obtained from a natural mineral. Which is also used for quality. Metallic aluminum reacts rapidly with ferric oxygen in the atmosphere. The process of these products is called 'anodizing'. The ancient Greeks and Romans used aluminum salts as dyeing mordants (used to set the dye onto the fabric). The main component of industrial process aluminum oxide is bauxite, the principal 'ore' of aluminium. Among the world's

- Antenna : Vivek Mehta - If the tax payer of Ahmedabad goes to Allahabad for return assessment, the officials there are ready to set up a network and settle corruption cases. Income Tax Assessing Officers, Advocates and Chartered Accountants working as tax consultants across India have colluded to create a system that renders the process of faceless assessment meaningless. Even in faceless assessment, Orissa authorities are contacting the tax payers of Ahmedabad and making the local assessing officers an intermediary to understand their income tax returns. Syndicates of Local Assessing Officers and Local Advocates are also reported to have been formed. Thus, while the government is moving in leaps and bounds, the income tax officers, advocates and chartered accountants are advancing step by step and making the faceless assessment system of the government ineffective. The taxpayers of Ahmedabad have been getting calls like this from outside the village. As a result, the government&#

- Sales Tax : Soham Mashruwala Not all tax credits are recoverable under the GST law. As the law is amended in the matter of tax credit, suffering tax credit is like chewing iron gram. Under Section 16 of the GST Act, a substantial provision has been made and Rule 36 has been framed accordingly. It is further provided that the recipient cannot avail the tax credit unless the correct details are shown in the supplier's GSTR 1 which results in the details appearing in the recipient's GSTR2B. Today's article discusses such an unfair provision regarding tax credits. Situation before 1.10.2019 When the GST law came in, it was suggested to fill the form that until the information of GSTR 2 filled by the supplier is obtained with the information of GSTR1, the recipient will not be able to take his tax credit in the GSTR3 form. Because of this, there was no provision in Section 16 that tax would not be payable unless the transaction was shown in the books. GSTR2A was informatio

- Lokabhimukha Guidance - H.S. Patel IAS (Retd.) - Under Section-73AA of the Land Revenue Act it is mandatory for any non-tribal to obtain permission before purchasing land under Section-73AA. Continued from previous point Restrictions on transfer of lands held by tribals and permissions obtainable As detailed in the previous article, most of the Scheduled Tribe lands in Gujarat lie in the eastern belt, i.e. from Ambaji to Dang. In terms of development of these areas, certain concessions have been given under the Forest Right Act for infrastructure facilities. But for industrial development, where new industries are to be set up, land other than tribal is not available and the permission of the Collector is required for acquisition and that too the Collector can grant permission for industrial purpose or conversion only after obtaining the approval of the Government. According to the guidelines issued by the government in this regard, the collector has to ensure that the tribal own

- Since 2020, the situation along India's long border has become alarming - How China gets the urge to intrude at a time and place of its own choosing is a big question. - Despite hostile behavior, India exports to China four times more than it imports from there - People should remember that even after several rounds of talks, China has not accepted anything Some political observers believe that the Modi government will never be able to take revenge for the insult done to the country by the PLA forces of China by invading the Indian territory in March-April 2020. In an earlier article I wrote, “Modi must have felt guilty for failing to understand what was going through Xi Jinping's mind when Prime Minister Narendra Modi was swinging with Xi Jinping on October 11, 2019 at Malalapuram in Tamil Nadu. While both the leaders were enjoying the swing on one side, on the other hand, the PLA of China was moving ahead with its plan to invade Indian territory. The order for this m

- Eight issues could not be discussed in the GST Council meeting - In addition to GST, 22 percent cess on sports utility vehicles was decided in the meeting - Taxes on casinos, horse racing could not be determined - Even after 5.5 years there was no time to constitute the Appellate Tribunal Ahmedabad: In the meeting of the Goods and Services Tax Council held in Delhi today, GST Rs. It has been decided to take court action against the person who stole 2 crores. Under the old system Rs. There was a system of court action against those who stole or messed up GST worth 1 crore. However, making a bogus bill of Rs. It has been decided to maintain the system of taking court action against the tax evader of 1 crore. This limit is Rs. It was earlier directed to increase from 5 crores to 20 crores. Of course, the most shocking thing is that even though five and a half years have come to an end since the introduction of the GST system, the Finance Minister ended today's meeting of the GS

New Delhi: India's Rupee Settlement Mechanism, a means of using rupees instead of dollars and other major currencies for international transactions, is drawing interest from more countries. According to official information, Tajikistan, Cuba, Luxembourg and Sudan have started talking with India about using the mechanism. It has been used by Russia after imposing sanctions on Moscow over the Ukraine war. The Reserve Bank of India set up this mechanism in July. The government is looking to bring countries that are short of dollars into the mechanism, said a source familiar with the matter. Four countries have expressed interest in opening special rupee accounts, known as vostro accounts, but partner banks in India have not yet provided those facilities, documents show. Reserve Bank of India approval is required for opening these accounts. Mauritius and Sri Lanka have also shown interest. India's central banks have approved the opening of 12 vostros to trade in rupees with Rus

Mumbai: Capital market regulator Securities and Exchange Board of India (SEBI) is gearing up to put the process of approval of initial public offering (IPO) documents on a fast track. Sebi plans to reduce the 70 days it takes to approve IPO documents to just seven days, chairperson Madhabi Puri Buch said. About this he said, "It is my desire and we will soon reach a stage where documents for raising capital in Indian markets can be approved in just seven days." Addressing a gathering of investment bankers in Mumbai, the SEBI Chairperson further said that his team is working on putting together the building blocks to reduce the red-tape involved in filing documents and regulatory approvals and the results will be visible by March 2023. Besides, he said, delayed applications do not speak well of us and there will be full transparency with the new structure. Everyone will know who (SEBI or investment bankers) is really delaying. Bankers present at the time said that they ha

Mumbai: The bullion market was officially closed today due to Saturday at the Mumbai jewelery market. Although gold prices continued to rise in the closed market, silver prices also recovered and rose again. World market news was showing bullishness in gold and silver. However, platinum and palladium prices remained under pressure in the global market. Behind the world market, the prices of gold and silver in the Mumbai market were higher today. The price of gold in the world market increased from 1783 to 1784 to 1794 to 1795 per ounce, and at the end of the week there was news that it was 1793 to 1795 dollars. Behind gold, global silver prices also increased from 22.84 to 22.85 per ounce to 23.25 to 23.26 and lastly 23.22 to 23.23 dollars. There was a discussion about the buying of funds in gold in the world market again amid the retreat in the global dollar due to weaker than expected retail sales figures and industrial production figures in America. Meanwhile, as the dollar fell

NEW DELHI: Private businesses will receive $2 billion in financial assistance from the International Finance Corporation to help Ukraine rebuild its war-ravaged agriculture and oil import industries and other companies. The International Finance Corporation is a member of the World Bank Group, which provides financial assistance to the private sector in developing countries. The loan is separate from the billions of dollars in grants Ukraine receives from donor countries. Ukraine will definitely have to pay this amount of debt. At least half a million people have lost their jobs in the country since Russia's invasion of Ukraine in February, according to Ukraine's finance ministry. The National Bank of Ukraine estimates that as of September this year, 11 percent of businesses were closed and half were operating below capacity. Loans to the country's private sector will be critical for years to come. Because the Ministry of Finance of Ukraine is struggling with a budget de

Mumbai: Prices of various edible oils were calm in the Mumbai oilseeds market today. New demand was slow. Saurashtra news showed narrow fluctuations. In the overnight trade in American agricultural markets, soybean oil prices fell by 45 to 50 points while soybean prices rose by 60 to 65 points. On the other hand, the price of soyabean remained in the range of 75 to 80 points plus. In the Mumbai market, 10 kg of Bhava single oil was being quoted at Rs.1570 and cottonseed oil at Rs.1230. The price of imported palm oil was Rs.935. The price of refined sunflower was Rs.1320 while the price of mustard was Rs.1370 and refined was Rs.1400. Soyatel refined price was Rs.1235. Meanwhile, Mumbai Hakar Diwal prices fell by another Rs.10 today. While the price of castor beans fell further by Rs.50 per quintal. In the Mumbai khol market today, the price of single ton increased by Rs.1000, sunflower oil by Rs.500 and soybean oil by Rs.800. While the price of castor kernels was Rs.200 per ton and t

MUMBAI: With the end of the year economists predicting global economic growth to slow down in 2023, the US has surprisingly overtaken the US. Sentiment has been dampened by the Federal Reserve raising interest rates by half a percentage point at its meeting, signaling that it will maintain high interest rate policy next year, and other European countries also raising interest rates. With this, the year 2022 is about to end, the activity of foreign funds in the market is likely to decrease from the next week in the holiday mood of Christmas vacation. Amidst these circumstances, Sensex may break the resistance level of 61911 at 60777 at 60111 and Nifty spot at 18444 at the resistance level of 17911 at 17911. . Dark Horse : Salzer Electronics Ltd. BSE (517059), NSE (SALZERELEC), Listed, Rs.10 Paid-up, 1:1 Share Bonus Issuer in 1995, ISO 9001:2008, ISO 14001, OHSAS 18001:2007 Certified, 1985 M/S. Established for the design and manufacturing of world class CAM operated rotary switches in

- Increase in foreign exchange reserves in India - Largest foreign exchange reserves in the world in India: Sitharaman New Delhi, 17 December 2022, Saturday Foreign exchange reserves increased for the fifth consecutive week. Foreign exchange reserves increased by $2.91 billion to $564.07 billion for the week ended December 9. RBI has released this data. Foreign currency assets also rose by $3.14 billion to $500.13 billion in the week ended December 9, according to the RBI. The exposure to fluctuations in foreign currencies such as Euros Pounds Yen in foreign currency reserves denominated in dollars is called foreign currency assets. Meanwhile, gold reserves have decreased by 0.29 billion dollars. And it has come down to 40.73 billion dollars. At the same time, special drawing rights jumped by $61 million to $18.10 billion. Referring to a World Bank report, Finance Minister Nirmala Sitharaman recently said that India has the largest foreign exchange reserves in the world and is suf

- Confusion of economics: Dhawal Mehta - The savior or liberator thinking has ended from the world Even though wars of ideology were going on for about 25 years before and after India's independence, there does not seem to have been a single emancipatory thought, emancipatory leader or emancipatory class in India as well as in the world. When the Communist Revolution took place in Russia in 1917, many people believed that a Communist Party and a Communist nation had emerged that would implement a classless society in the world. Even China, the world's most populous country, saw the rise of a communist government under Mao's leadership after the end of World War II, but failed miserably to create a classless, exploitation-free society. The reverse happened. The shackles of the workers were not broken (remember Marx promised that if you bring about a communist revolution, 'you have nothing to loose but your chains') the theory of communism and the transformation of

- Confusion of economics: Dhawal Mehta - The fourth stage of capitalism will emerge as knowledge and new inventions Capitalism has developed in three stages. The first stage was commercial capitalism which started in AD. It started in Italy around 1400 and its center was Geneva, Italy. At the heart of this mercantile capitalism was the vigorous international trade carried on by ships. Commercial capitalism is called merchant or mechantile capitalism in English. This era lasted from 1450 to 1760 in which production was domestic and industries were small and based on handicrafts. But the time came to collect the goods from these small industries and fill them in big godowns (called factories) and then ship them to different places in different countries. Other types of products other than agricultural produce are called cottage industries. In this second phase of industrial capitalism (first on steam and later on electricity) industries became the main centers of production. Agricultu

- The size and timing of future interest rate hikes will depend on economic conditions In line with market expectations, the Reserve Bank's Monetary Policy Committee hiked the policy repo rate by 35 basis points to 6.25 percent. The standing deposit facility and marginal standing facility rates have also been increased to 6 and 6.5 percent respectively. The committee raised the policy rate by 225 basis points during the year, the highest level since February 2019. The policy rate is still negative in real terms and is expected to turn positive only in the fourth quarter of the current year. The Reserve Bank estimates that the quality rate will decline to 5.9 percent in the last quarter of the current financial year. This rate is said to be 5 and 5.4 percent in the first and second quarters of the next financial year respectively. Talking about policy measures, while the pace of rate hikes has slowed down, the central bank has still not reached the final rate of the current cycle

- Smile Index : Vanity - If you get an intra-day tip from an ATM in Gujarat, there is a queue Bhukhkhalal gave the news to Lukhkhalal. 'Did you hear that? An ATM has been installed in Hyderabad that dispenses gold coins.' 'like this? So there must be a lot of lines, right? Is one coin given to each person or is it taken in the name of familiarity?' 'That is as many coins as the expenses.' 'Hey! So, money has to be paid to buy coins. So what does that mean?' 'That means it's not a gold bar, it's an ATM.' 'Oh...' Lukhkhalal let out a sigh. 'I feel like some danveer has installed a new type of machine so that whoever goes there and presses his finger gets a gold coin. In fact, this country needs such ATMs from which you can get a coin of rupees - two rupees or five - ten rupees even if you want it. Man, Lotta has a lot of problem. If the rickshaw puller wants this, let him tell him to take it to the machine. To take out a

- led by some leaders, who appear to be more satisfied than dissatisfied with the ruling of that party - Political parties with the foresight to strengthen their organization have started making extensive use of technology In many past elections, governance was considered an achievement wrapped around the neck of the ruling party. After the influence of the Congress era ended in 1967, regional party governments began to form in the states, and non-Congolese party governments came to power. The era of non-Congress government at the Center has started since 1977. The state of alternate governments began in Kerala. Since the 1990s, we have seen a succession of governments in Rajasthan, Himachal Pradesh, Uttar Pradesh, Madhya Pradesh, Bihar, Andhra Pradesh, Karnataka and Tamil Nadu. Discontent against the regime is invisible However there are some instances where there is no discontent against the rule of popular leaders. M. in Tamil Nadu until he died in 1987. G. Ramachandran and hi

- Marginal growth in production in first two months of new season starting October: Market eyes Christmas demand Sugar markets and industries in the country have recently witnessed a rapid reversal of equations. After the last two years of the corona period, instead of the lockdown this year, the process of reopening has progressed rapidly, and the people have celebrated the various festivals this year with great enthusiasm and gaiety. Recently Dussehra-Diwali festivals also witnessed a similar situation after two years and now the sugar market is focusing on Christmas festivals. Market sources said that sugar demand during Dussehra-Diwali was encouraging this year. This year, especially during the festivals, bulk consumer purchases were particularly prominent. Market experts were showing the possibility of such demand increasing even in the coming Christmas festivities. During Christmas, the demand for sugar increases all over the world. Meanwhile, the new sugar season 2022-23 seaso

If 'reforms' are not done as needed, the problems of the economy will increase Jaipur: With the Indian economy, the coming year may be difficult for the entire world. If 'reforms' are not done as required, the problems of the economy may increase, said Raghuram Rajan, Governor of the Reserve Bank of India. Former Reserve Bank Governor Raghuram Rajan joined Rajasthan in the 'Bharat Jodo Yatra' held under the leadership of Rahul Gandhi. Meanwhile, in a conversation with Rahul Gandhi, he said very clearly, 'Private sector has to be encouraged because not everyone can get a government job.' Jobs can be created in agriculture sector if technological intervention is increased. Rajan also advocated creating an enabling environment for small and medium scale enterprises and promoting a green revolution in the field of sustainable energy. The next revolution in the country could be in the service sector. Along with this, he said about the growth rate metrics