Supreme Court refuses to grant interim relief on RBI circular on Cryptocurrency
The Supreme Court of India has refused to grant any temporary stay against RBI Circular dated 6 April 2018 which restricted banks and prepaid payment instruments (“PPIs”) from providing their services to entities that deal with cryptocurrencies.
Jaitley hints at rationalising GST Rates as revenues surge
Finance Minister Arun Jaitley has hinted at rationalising goods and services tax (“GST”) rates as the one year old tax regime stabilises. “We will be busy in the process of shifting a large number of items from (the top rate of) 28% to the lower rate. The weighted average of the total taxation basket has significantly come down and therefore we are in the process of rationalising the rates itself,” said Jaitley, who was addressing an event to mark one year of GST.
Odisha Govt To Partner With Google To Boost Its Startup Ecosystem
The Odisha government is looking to collaborate with Google to boost the startup ecosystem in the state. The government has selected 250 startups, which will partner with Google for guidance. Odisha had announced in June that it would recognise 20 startups every month in order to boost the state startup initiative.