Top headlines: GST Council meet, Trump may suspend H1B visas, and more

Business Standard brings to you a snapshot of events that made it to the headlines today

No fee for late filing of GST returns for entities with nil liability: FM

Finance Minister Nirmala Sitharaman on Friday said no late fee will be levied for delayed filing of GST returns by registered entities with nil liability between July 2017 to January 2020. Read more...

Trump considering suspending H1B visa over US unemployment: Report

US President Donald Trump is considering suspending a number of employment visas including the H-1B, most sought-after among Indian IT professionals, in view of the massive unemployment in America due to the coronavirus pandemic, according to a media report. The proposed suspension could extend into the government's new fiscal year beginning October 1, when many new visas are issued, The Wall Street Journal reported on Thursday, quoting unnamed administration officials. read more...

Clix Capital eyes majority stake in cash-starved Lakshmi Vilas Bank

As time runs out for capital-starved Lakshmi Vilas Bank (LVB) to infuse money, AION Capital-backed Clix Capital is in talks to buy a majority stake in the private lender. Highly-placed sources say the private-equity player through its non-banking financial arm Clix Capital may lead the deal as it looks to buy over a 51 per cent stake and a formal letter of intent will be sent to LVB next week. Read more...

Wage payments during lockdown: No action on employers till July, rules SC

No action will be taken till the end of July against private employers who didn't pay their workers in the weeks-long lockdown to contain the coronavirus, said the Supreme Court on Friday. States should facilitate settlement between companies and employees over wages and then submit reports before labour commissioners, said the court, according to news agency PTI. Read more...

Biocon's Semglee, an insulin glargine injection, gets US FDA approval

Biocon on Friday said that the company’s biosimilar insulin glargine, co-developed with Mylan, has been approved by the US Food and Drug Administration (FDA). The regulator has given nod to the insulin, Semglee, in vial and pre-filled pen format to control high blood sugar in both Type 1 and Type 2 diabetes patients. Read on...

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