Mumbai-based developer Godrej Properties has announced a partnership with Taj Hotels to launch a new flagship property at Vikhroli, Mumbai. The new project 'The Trees', Godrej said, would be located off the Eastern Express highway in Vikhroli, and would include 150 guest rooms and suites, as well as dining and other facilities. 

The government has adopted a four-tier tax slab for the GST regime, consisting of 5%, 12%, 18% and 28% tax rates for goods and services, and expects that the rate applicable on most products will be 18%. Now, the government is trying to minimise the tax rate variations within each tax slab, so that an entire category has only one rate applicable to it. Most countries around the world have two GST rates, and four is likely to increase inefficiencies in the system. Additional variations, the government said, could result in a highly cumbersome regime. 

Stock in spotlight:  Bajaj Corp. Ltd share price fell over 6% after the company reported weak results below analyst estimates, with a 2.9% drop in its net profit and 2% drop in its revenue for the March quarter. Erratic results for the company over FY17 has resulted in weak market performance overall - the stock has sharply underperformed the BSE Mid cap and BSE FMCG indices over the last one year. 

Photo of the day: Celebrations of Poila Baisakh - the Bengali New Year. Anoop Menon