Profit booking pushes down Indian benchmark indices
Sensex dipped 104.91 points to close at 28668.22 and Nifty was down35.90 points to close at 8831.55.
Reliance Industries, HDFC, TCS, HDFC Bank and Dr Reddy's Labs were some of the key gainers while Axis Bank, Infosys, ICICI Bank, SBI, Lupin, Power Grid, Tata Motors and Tata Steel were some of the key stocks that declined.
The Goods and Services Tax (GST) Council, which concluded its two-day meeting on Friday, fixed the annual turnover limit for exemption at rupees twenty lakh and said that all cess will be subsumed in the GST, media reported.
The Council will hold the next meeting on Sep 30 where it will finalise draft rules on exemption.
The draft rules for GST rates and tax slabs will be decided in another meeting scheduled on Oct 17, media reported.
Image:wikimedia commons
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