TMS Ep328: GST Council meeting, vacation trends, IT performance, GM crops

In its meeting on Saturday, the Goods and Services Tax Board agreed to decriminalize some crimes and clarify tax provisions on a number of items, including SUVs. However, the council ran out of time and left almost half of its agenda, including the establishment of a GST Court of Appeal, without discussion. So, what were the key decisions made at the meeting and what will be their impact?

No tax increase was announced on any item at last week’s GST council meeting. This is welcome news for fans. But the men at the helm of government seem unhappy with the long furloughs of the Indian courts. Indian Minister of Justice and Law Kiren Riju recently said that the Indian courts’ vacation period is an inconvenience to the people. The Minister of Law’s remark about the work of the judiciary opened a debate as to whether Indians, in general, take too much leave?

Turning to the markets, despite the company’s first-quarter revenue growth, Dublin-based Accenture Plc left analysts unimpressed as it pegged next-quarter revenue growth below expectations. The company also appeared cautious about customer spending. Does this point to more trouble for Indian IT companies in the future?

The government recently removed the “eco-release” of a genetically modified variety of mustard. This move sparked controversy. It has been challenged in the Supreme Court as well. Environmental activists and many groups representing farmers are bent on genetically modified crops. But are they exactly? Why is all this discussion going on around them? Tune in to this episode of the podcast to find out all about it.