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INDIAN (B) | Huewire | Opnion News | Forum |Diversity In America - Part 184

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INDIAN (B)

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INDIAN (B)

IndiGo places engine order worth $20bn

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IndiGo, the world’s largest customer for the Airbus 320/21 new engine option (Neo) aircraft, has opted for CFM engines over the snag-prone Pratt & Whitney (PW) engines for this plane. The low cost carrier has placed an order worth $20 billion for CFM’s LEAP-1A engines for 280 A320 and A321 Neo planes, making it the largest ever single engine order ever.



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INDIAN (B)

Govt tightens noose around tax defaulters

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Tightening noose around several categories of tax defaulters, like those who stash black money offshore, will not be able to compound their offences (a process of paying a stiff compounding fee in lieu of prosecution). On Friday, Central Board of Direct Taxes issued revised guidelines on ‘Compounding of offences under the direct tax laws’ in effect from June 17.



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INDIAN (B)

Jet Airways lenders running out of runway

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While lead lender State Bank of India and government officials have continued to sound hopeful about a revival of the airline, others in the consortium are less optimistic. “As things stand, there is not much by way of assets other than the brand. No one is willing to take on any of the airline’s liabilities for the brand,” said a bank official part of the consortium.



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INDIAN (B)

Builder pulled up for not passing GST gain to buyers

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Nearly two years after the launch of GST, several builders have not passed on the benefit of credits earned for taxes paid on inputs such as steel, cement and paint, arguing that the amount will be settled at the time of delivery. Now, the National Anti-Profiteering Authority has held that homebuyers cannot endlessly wait to get the benefit of the input tax credit.



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INDIAN (B)

What to do with debt funds

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Even as bond funds reel under defaults and rating downgrades, the bond market is witnessing a change in trajectory. Recently, the central bank cut the repo rate by 25 bps—the third straight cut takes the total to 75 bps this year.



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INDIAN (B)

Banks give up on Jet, choose to send it to NCLT

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State Bank of India-led consortium of lenders on Monday decided to send the grounded Jet Airways to the National Company Law of Tribunal as they have not yet received any concrete proposal for the airline. The decision was taken after a meeting of the lenders. The airline, which was grounded on April 17, owes Rs 8.74 cr to Shaman Wheels and Rs 53 lakh to Gaggar.



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