The GST Council recommended exempting gene therapy from GST. Additionally, agriculturists like farmers and plantation workers who sell black pepper and raisins won't face the tax. It also suggested 18% GST on the resale of second-hand EVs by registered car sellers and exemption from GST for transactions between individuals. It also suggested GST reduction to 5% for fortified rice kernels.

The US avoided a government shutdown as the Congress passed a stopgap funding bill, which extends government funding into March. The US Senate passed the bill after the funding deadline, averting a shutdown that would have had widespread impacts. The bill, which was passed by the House on Friday evening, will now be sent to US President Joe Biden.

The 55th GST Council meeting on Saturday (December 21) is expected to consider reducing GST rates on life and health insurance premiums. The council could also lower the tax on food delivery platforms. Meanwhile, luxury items, like high-end wristwatches and shoes, sin goods such as cigarettes, and old and used electric vehicles could attract higher taxes.

The GST Council has recommended varying GST rates on popcorn depending on its flavour and packaging. While pre-packaged popcorn mixed with salt and spices will have 12% GST, the same popcorn will be taxed at 5% GST if sold unpackaged. Popcorn with sugar, like caramel-coated popcorn, will attract a higher GST of 18% as it'll be considered a sugar confectionery.

Amazon delayed its return-to-office mandate in US for unspecified number of its 3.5 lakh employees as it doesn't have enough seats for them, Bloomberg reported. The company informed employees in seven cities that their return dates have been delayed by four months. While announcing mandate in September, Amazon had said work areas for employees would be ready by January 2.

Meta CEO Mark Zuckerberg has clarified that his $100-million (nearly ₹850 crore) underground bunker in US' Hawaii "is just a little shelter". "I think the whole thing got blown out of proportion as if the whole ranch was some kind of doomsday bunker," Zuckerberg said. He added that he ranching in Hawaii and wants to create the world's "highest-quality beef".

Anupam Mittal called work-life balance a "lie" and said it stinks and "is destroying a whole generation". Speaking on 'Humans of Bombay Show', he said he feels bad the new generation hasn't seen a crisis as crises shape entire generations. Interrupting Mittal, Namita Thapar said, "That's b******t." Founders obviously work 20 hours/day as they're making lot of money, she added.

Finance Minister Nirmala Sitharaman on Saturday announced that GST on all used vehicles, including electric vehicles (EVs), will increase from 12% to 18%. The rate will apply to the seller's margin, meaning the difference between the purchase and selling prices. She further stated that no GST will be applicable on used EVs when sold among individuals.

Infosys Founder Narayana Murthy said cities like Bengaluru, Pune and Hyderabad have become "extremely challenging to live in, difficult to navigate and have witnessed rising pollution levels". "They're heading towards becoming unliveable," he said. He added that in case India fails to control climate change, there'll be "mass migration from rural parts of states" to these cities.

US President-elect Donald Trump moved around $4 billion stake he owns in Trump Media & Technology, Truth Social’s parent company, to a revocable trust of which he is the sole beneficiary. Trump transferred 114.75 million shares, which is 53% of the company's stock, as a “bona fide gift” to his trust, according to the US Securities and Exchange Commission's filing.

India’s biotech ecosystem has grown to nearly 9,000 startups from just 50 back in 2014 with the bioeconomy witnessing remarkable growth in the last 10 years, Union Minister Jitendra Singh said on Friday. He said that India’s bioeconomy has seen remarkable growth, growing from $10 billion in 2014 to over $130 billion in 2024 in just about 10 years.

The investments in the urban sector in India have increased 16-fold as the government aims to achieve the 'Viksit Bharat' goal by 2047, the Ministry of Housing and Urban Affairs said on Friday. Under the Smart Cities Mission, work orders have been issued in 8,066 projects amounting to ₹1,64,669 crore, of which 7,352 projects have been completed.

Over 10 crore rural poor households have been mobilised into over 90 lakh Self-Help Groups (SHGs) under the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM), according to a report presented in the Lok Sabha by Minister of State for Rural Development, Chandra Sekhar Pemmasani, on Tuesday.

LinkedIn COO Daniel Shapero revealed that a key job interview question candidates are being asked this year is - "Tell me a story about how you used AI at the workplace or at home". He added that employers are looking for people who're comfortable with AI. "You hear about people planning family trips...[or] summarising meeting notes," he said.

The Supreme Court has set aside a National Consumer Disputes Redressal Commission's (NCDRC) 2008 decision through which it barred commercial banks from implementing an interest rate of more than 30% per year on late credit card payments. This means that now charging interest rates of over 30% per year on late payments won't be counted as an unfair trade practice.

Bengaluru-based space startup Unimech Aerospace and Manufacturing's ₹500-crore IPO will be the sole issue in the mainboard segment next week. The IPO will open on December 23, with a price band of ₹745-785 per share. The SME segment will see IPOs from Solar91 Cleantech and Anya Polytech. The week will also see the listing of eight companies.

A video on social media showing that Union Finance Minister Nirmala Sitharaman is promoting cryptocurrency products to earn daily income easily is fake and was altered using AI, according to PIB Fact Check. In the alleged video, Nirmala Sitharaman was heard saying that investment can help earn from ₹10,000 to ₹30,000.

The National Stock Exchange of India (NSE) will exclude 16 stocks from the futures and options (F&O) segment, effective February 28, 2025. No contracts will be available for trading in these stocks from this date. PVR INOX, Abbott India, Bata India, IndiaMART InterMESH, Dr Lal PathLabs, Coromandel International, Sun TV Network and United Breweries are among the affected securities.

SaaS company Freshworks' Co-founder and Executive Chairman, Girish Mathrubootham, has sold roughly $40 million worth of the company's shares. According to SEC filings, he sold nearly 2.5 million shares in multiple transactions at an average price range of $15.33 to $16.50 per share. Earlier this year, Girish stepped down as the CEO of Freshworks.

Ex-RBI Governor Raghuram Rajan said policy paralysis in the Congress-led UPA government was the reason for bank non-performing assets piling up. Rajan, who was RBI chief from 2013 to 2016, said an asset quality review (AQR) that started in 2015 led to bad loans "tumbling out". He added ex-Finance Minister Arun Jaitley gave him permission to "clean up" the system.

India's foreign exchange reserves dipped by roughly $2 billion to $652.8 billion in the week ended December 13, the latest RBI data showed. The decline for the second consecutive week brought down the reserves to the lowest level since late June. The drop was led by foreign currency assets, which fell by $3 billion to $562.5 billion.

India's food safety regulator Food Safety and Standards Authority of India (FSSAI) has ordered country's licensed food manufacturers as well as importers to submit data of rejected and expired food items on a quarterly basis. The step has been taken to prevent the resale of such food items for human consumption, which is sometimes done under guise of cattle feed.

GST Council on Saturday postponed a decision on tax cuts for life and health insurance premiums. Bihar Deputy Chief Minister Samrat Choudhary said one more meeting of the Group of Ministers (GoM) is required to decide on taxation of group, individual and senior citizens' policies. "We (GoM) will meet in January again," he stated.

Gautam Adani-led Adani Group is planning to invest ₹20,000 crore in setting up a super critical thermal power plant in Bihar. The announcement was made by Pranav Adani, Director, Adani Enterprises Ltd, at the Bihar Business Connect 2024. He stated the "massive project" will create 12,000 jobs in the pre-commissioning phase and 1,500 skilled jobs during the operational phase.

Finance Minister Nirmala Sitharaman said the 55th GST Council meeting has deferred the decision about tax rates on food delivery by online and quick commerce platforms. She added that the Group of Ministers (GoM) will further discuss the topic. Earlier there were reports that GST on food delivery charges could be reduced to 5% from 18%.