Pump & dump, GeeST

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 Article 7: Pump and dump, Source: economic times

  • As the economy is reviving, the stock market is running like a Ferrari. Therefore SEBI has stepped up its surveillance on companies who indulge in somewhat shenanigans.
  • SEBI has asked exchanges to closely watch on any misstatement in financials, Accounting policies, the resignation of key managerial personnel, a sharp jump in profits, etc. to push up the stock prices.
  • For this, a separate team has been formed to monitor the following checks mentioned in the previous point.
  • SEBI’s finance investigation department is also responsible for carrying out probes on fraud, diversion, laundering, or misappropriation of funds.

Article: 8 Gee ST, Source: economic times

  • Inverted duty structure- a situation where inputs attract a higher duty than the one applicable on finished goods. Because of this GST credit has increased where businessmen won’t be able to collect from government and cost has to bear by the businessman.
  • Technically GST was applied so that the end consumer could bear the cost of GST but unfortunately, it is not happening. 
  • To overcome such instances, the Government has spiked the rate by 12% of GST on apparel, textiles, footwear, so that cost of GST would be transferable to the end consumer.
  • The problem here rises for the business who were earlier paying 5% and now they have to pay 12%. Therefore businesses are opposing these new changes.

 Gee ST | FinnacleShahClasses

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