Read more about Priyanka Gandhi demands removal of GST from Covid-related drugs, equipment on Business Standard. Ahead of the 43rd GST Council meeting, the Congress leader demanded that the Centre remove GST from all life-saving medicines and equipment being used in the fight against the pandemic
The existing web portal will be shut for six days between June 1-6. Officials said the new portal will be made more user-friendly. An order issued by the systems wing of the department on Wednesday said the transition from the old portal www.incometaxindiaefiling.gov.in to the new www.incometaxgov.in will be completed and made operational from June 7. In preparation of this launch and for migration activities, the existing portal of the department at www.incometaxindiaefiling.gov.in would not be available for a brief period of six days from June 1 to 6, the order said.
Read more about Income Tax department issues Rs 24,792 cr refunds so far this fiscal on Business Standard. The Income Tax department on Wednesday said it has issued over Rs 24,792 crore refunds to more than 15 lakh taxpayers so far this fiscal.
The domestic indices continued trading with losses in early afternoon trade. The Nifty index traded above 14,550-mark. Mounting COVID-19 cases continued in the country and a negative trend in Asian equities spoiled sentiment.
At 12:20 IST, the barometer index, the S&P BSE Sensex, fell 329.20 points or 0.67% at 48,453.16. The Nifty 50 index lost 75.40 points or 0.52% at 14,555.70.
In the broader market, the S&P BSE Mid-Cap index slipped 0.43% while the S&P BSE Small-Cap index rose 1.14%.
The market breadth was positive. On the BSE, 1,577 shares rose and 1,244 shares fell. A total of 169 shares were unchanged.
Derivatives:
The NSE s India VIX, a gauge of market s expectation of volatility over the near term, rose 1.06% to 23.2725. The Nifty 27 May 2021 futures were trading at 14,606.25, at a premium of 50.55 points as compared with the spot at 14,555.70.
SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slump 188 points at the opening bell.
On the coronavirus front, investors continue monitoring the Covid situation in India as the country continues to battle a deadly second wave of infections. Authorities reported 392,488 new cases in the previous 24 hours to push total cases to 19.56 million. So far, the virus has killed 215,542 people.
On the political front, election results 2021 for West Bengal, Assam, Tamil Nadu, Kerala and Puducherry assemblies were declared on Sunday (May 2). The TMC managed a landslide victory in West Bengal, the same as DMK in Tamil Nadu and Left-led LDF in Kerala. The BJP managed to retain power in Assam and cruised to victory in Puducherry.