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Share Market Highlights 16 October 2023: Sensex sheds 115 pts, Nifty closes below 19,750; Hero MotoCorp, JSW Steel major gainers

Share Market Highlights 16 October 2023: Sensex sheds 115 pts, Nifty closes below 19,750; Hero MotoCorp, JSW Steel major gainers
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JK Paper stocks: Buy JK Paper, target price Rs 400: Nuvama Wealth brokerage

JK Paper, incorporated in the year 1960, is a Small Cap company (having a market cap of Rs 6206.90 Crore) operating in Paper sector.

No service tax on school bus, rules Appellate Tribunal

The Ahmedabad bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has ruled that school buses are not considered "cabs" and therefore cannot be subjected to service tax. This ruling came in response to an appeal by Akshar Travels, who provided buses for rent to a school owned by JK Paper Ltd. The tribunal held that the buses were used exclusively for transporting school children and therefore did not fall under the definition of a commercial organization.

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