3 Things The Catch Up: 4 September
Sep 4, 2025
Catch up on the latest with key global headlines. Economic decisions from the GST Council could have lasting impacts. A high-profile money laundering case involving a former cricketer sends shockwaves through sports. International updates include the latest developments in the Ukraine conflict and a significant ruling on Harvard's research grants. Also, hear about a tragic railway accident in Lisbon that has drawn attention.
AI Snips
Chapters
Transcript
Episode notes
GST Rate Hike Affects Multiple Industries
- The GST Council raised coal GST from 5% to 18% and ended the compensation cess to restructure taxation.
- This aims to simplify taxes and lower input costs across cement, metals, textiles and fertilizers.
Rate Rationalisation Targets Industrial Inputs
- Rate rationalisation covers key industrial inputs like cement, man-made fibers and chemicals.
- The move is expected to improve cost efficiency across construction, textiles and fertiliser sectors.
Respond Carefully To ED Money-Laundering Summons
- Expect authorities to record statements under the Prevention of Money Laundering Act.
- If contacted in such probes, cooperate and seek legal counsel before giving statements.