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In India, the state has granted itself wide leeway on GST implementation timelines, but offers taxpayers no respite. While income-tax officials have the discretion to pardon delays by taxpayers who cite good reasons, GST doesn’t. This needs fixing.
Indian stock markets remained largely stable on August 6 as investors awaited clarity on a potential Middle East peace deal. The Nifty 50 edged up 0.05%, while the Sensex gained 0.26%. Mixed performance was seen in broader markets, with sectoral interests varying significantly.
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