GST Clinics to help traders in smooth transition for new tax regime

The Confederation of All India Traders (CAIT) said it is working with HDFC Bank, Tally Solutions and Mastercard for the endeavour, which will attempt to reach out to six crore traders.

"The first phase of the nationwide awareness campaign will begin on July 1 and will help the trading community transition smoothly from the current tax regime to the Goods and Services Tax," CAIT said in a statement.

The clinics will inform traders about the fundamentals of GST, the designated role of technology for its compliance, requisite information about mandatory compliance obligations, linkage of digital payments with GST and the changes required to make business compatible with its provisions.

Daily Commodity Market Update or Share Market News visit www.marketmagnify.com or missed call 7879881122.

Gold hits near four-week low as dollar firms

Gold edged lower on Monday to touch a near four-week low as the dollar held firm, with the market waiting on comments from a top U.S. Federal Reserve official after last week's soft economic data.

Spot gold fell 0.1 % to $1,252.40 per ounce as of 0428 GMT. It hit a fresh low of $1,250.80 during the session, its lowest since May 24.

U.S. gold futures for August delivery fell 0.2 % to $1,254.20 an ounce.

more click herehttps://www.marketmagnify.com/freetrial.php or just give a Missed call @7879881122.

Technically market is under fresh selling as market has witnessed gain in open interest by 2.47% to settled at 4679 while prices down -78 rupees, now Gold is getting support at 28643 and below same could see a test of 28597 level, And resistance is now likely to be seen at 28767, a move above could see prices testing 28845.

                           Trading Ideas

* Gold trading range for the day is 28597-28845.

* Gold prices dropped and ended the week with weakness in the wake of signals from the Federal Reserve for another increase to interest rates this year.

* Downbeat U.S. data, with construction for new houses down in May and a June drop in consumer sentiment, underpinned prices as well.

SHARE MARKET NEWS :- TOP STOCK OF THE DAY

The Sensex was up 21.25 points at 30592.22, while the Nifty was up 5.30 points at 9443.55. The market breadth was narrow as 447 shares advanced against a decline of 312 shares, while 39 shares were unchanged.

Results Today :- Reliance Comm, Prakash Industries,Godrej Industries,GAIL ,SRF,Sharda Cropchem

Reliance Comm Says

CARE Downgrades Co’s Long-Term Loans To BB From A-; Put On Credit Watch

CARE Downgrades Co’s Short-term Loans From A2+ to ‘A4;

CARE Puts Co’s Loans On Credit Watch With Developing Implications

Prakash Industries

Issuance of New FCCBs

Shipping Corporation of India (SCI)

Has given physical delivery of its 1 container vessel m.v. ‘Indira Gandhi' to its buyer

Godrej Industries

Cons Net Profit At Rs 95.2 Cr Vs Loss Of Rs 57 Cr (YoY)

Cons Revenue Up 6.9 percent At Rs 1,982 Cr Vs Rs 1,854.2 Cr (YoY)

GAIL

Net Profit At Rs 260 Cr Vs CNBC-TV18 Poll Of Rs 1,122 Cr.

Revenue At Rs 13,674.1 Cr Vs CNBC-TV18 Poll Of Rs 12,888 Cr.

SRF

Cons Net Profit At Rs 129.2 Cr Vs CNBC-TV18 Poll Of Rs 111.4 Cr.

Cons Revenue At Rs 1,416.4 Cr Vs CNBC-TV18 Poll Of Rs 1,188 Cr.

Sharda Cropchem

Cons Net Profit Down 1.6 % At Rs 98.7 Cr Vs Rs 100.3 Cr (YoY).

Cons Revenue Up 13.7 % At Rs 594.9 Cr Vs Rs 523.4 Cr (YoY).

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