News digest: GST collections, GES 2017, data privacy, and more

The government has announced the 15th Finance Commission and it will be chaired by former parliamentarian and revenue and expenditure secretary N K Singh

I-T dept moves against hoarders: Unsold realty inventory may be taxed

In a bid to curb hoarding of unsold inventories by real estate developers, the income-tax (I-T) department is set to tax unsold flats that have been lying with developers for more than a year. According to a senior I-T official, the fresh tax would be applicable on such inventories from the next financial year. The move would reduce developers’ strategy of hoarding constructed property in anticipation of price escalation in future. Read more

Best year for IPOs leaves investors high and dry

Ace investor Rakesh Jhunjhunwala