State FMs to hold GST meet in Shillong in Novemberhttps://indianexpress.com/article/news-archive/web/state-fms-to-hold-gst-meet-in-shillong-in-november/

State FMs to hold GST meet in Shillong in November

Some states had also expressed reservations to the inclusion of ‘entry tax’ in the GST fold.

The Empowered Committee of State Finance Ministers on GST will meet in Shillong on November 18 and 19 and may firm up views on issues concerning the taxation of liquor and petroleum products in the proposed Goods and Services Tax (GST) regime.

At its last meeting on October 21,several states had opposed the inclusion of petroleum products and liquor in the proposed regime. Some states had also expressed reservations to the inclusion of ‘entry tax’ in the GST fold.

Hedge fund SAC Capital to pay fine of $1.8 bn

NEW YORK: Hedge fund giant SAC Capital Advisors has agreed to plead guilty to fraud charges and to pay a $1.8 billion financial penalty,federal prosecutors said Monday.

The government said in a letter to judges presiding over the Manhattan case that it believed the financial penalty is the largest in history for insider trading offences. The company will pay a $900 million fine and forfeit another $900 million to the federal government. It also will terminate its investment advisory business. AP