Overseas investors pump over Rs 9,000 crore into Indian capital markets in May

Overseas investors pumped more than 9,000 crore rupees into the Indian capital markets in last month on expectations of more business-friendly measures following the BJP's landslide victory in the general elections.

According to the latest depositories data, Foreign Portfolio Investors (FPIs) infused around 7,920 crore rupees into equities and 1,111 crore rupees in the debt market during second to -31st of May, taking the cumulative investment to around  9,031 crore rupees.

GST collections cross Rs 1 lakh crore mark for third straight month

India's goods and services tax (GST) revenue collections crossed Rs 1 lakh crore for the third straight month in May to Rs 1,00,289 crore, despite slowdown in the industrial activities. However, GST mop-up in May was lower than all-time high of Rs 1.13 lakh crore in the month of April, highest ever since the indirect tax regime was rolled out on July 1, 2017.

GST collections rose by 6.67 per cent over the revenue of Rs 94,016 crore reported in May 2018. The revenue in May, 2019 was 2.21 per cent higher than the monthly average of GST revenue in financial year 2018-19 (Rs 98,114 crore), according to a data released by the Ministry of Finance.

G20 digital tax takes step closer

Global efforts to impose a unified tax policy on Google, Facebook and other internet giants have cleared a major hurdle ahead of a G20 summit in Japan, officials said Friday.

The Paris-based Organisation for Economic Cooperation and Development said that 129 countries had signed off on a roadmap to grab a fairer tax share of the companies' booming sales.