Wednesday morning news brief, October 18

Wednesday morning brief Oct 18 2017
Good morning!
Here’s everything you need to know to start your day…
Eating out could get cheaper as GST may be cut to 12% The Goods and Services Tax Council is likely to back a reduction in the levy on restaurants to 12% from 18% , and the withdrawal of the input tax credit facility available to eateries. Currently, in most cases, the tax rate on air-conditioned restaurants is 18%, and that on non-AC onesis 12%. Read more
Bust mutual fund myths, not firecrackers
This Diwali, let us bust some common MF myths instead of firecrackers.

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WhatsApp introduces a new feature – live location sharing. With this, a user can choose to let a contact or a group trace their location or movements on a map in real time for a specified window of time. This is different from the current “share location” feature which shares a static location.
US secretary of state Rex Tillerson will deliver a major India policy speech later today. “Defining Our Relationship with India for the Next Century” will be the subject of his speech. In what will be his first India policy address after becoming the top American diplomat earlier this year, Tillerson’s remarks come ahead of President Donald Trump’s Asia visit which will take him to Japan, South Korea, China, Vietnam and the Philippines.
Financial Planning, more than just money.

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A surge in pre-GST car sales surge took the sheen off of the Dhanteras festival. Car sales didn’t spike as expected on Dhanteras on fears of a price hikes after the implementation of GST. Consumer durables and electronics makers, however, saw healthy buying thanks to new products and attractive offers that were sweetened with easier financing schemes.
US President Donald Trump today celebrated Diwali in the Oval office. Senior Indian-American members of the administration, including Nikki Haley, Seema Verma and community leaders were also present during the celebrations. Trump’s daughter Ivanka also joined the US President in the celebrations.
Copyright @ 2017 Bennett, Coleman & Co. Ltd.

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