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Day: December 2, 2024

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GST rate rationalisation: GoM may propose a 35% ‘special rate’, rejig likely for over 148 items, say sources

The GST structure may witness a major overhaul as the Group of Ministers (GoM) on rate rationalisation is set to propose a new “special rate” of 35% on aerated drinks and tobacco products, along with a rejig of rates across 148 items. Key proposals include reduced GST on daily-use items like bottled water and bicycles, higher taxes on luxury goods, and exemptions or reductions on health and life insurance premiums, sources told CNBC-TV18.

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Godavari Biorefineries signs pact with Catalyxx to enhance ethanol

As part of this partnership, GBL will establish and operate a cutting-edge facility aimed at producing 15,000 tonnes of biobutanol and other higher alcohols annually in the first phase. Shares of Godavari Biorefineries Ltd ended at ₹345.30, down by ₹8.35, or 2.36%, on the BSE.

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Advait Energy wins contract to set up 50 MW battery storage project in Gujarat

Advait Energy was declared a qualified bidder by Gujarat Urja Vikas Nigam Ltd (GUVNL) for the development of a portion of the western state’s 500 MW/1000 MWh standalone battery energy storage systems. Shares of Advait Energy Transitions Ltd ended at ₹1,410.50, down by ₹41.30, or 2.84%, on the BSE.