On Wednesday, the GST bills cleared the last legislative requirement, with the Lok Sabha assenting to a landmark tax law that has been in the pipeline for ten years. With the bills passing as money bills, the Rajya Sabha is limited to making recommendations to the laws, following which the state legislatures will have to individually give their nod so that GST can be implemented across the country. Given the passing, the GST will likely now meet its July 1 deadline for rollout. 

The Supreme Court ruling banning the sale of Bharat Stage III vehicles after April 1 has left auto companies scrambling to dispose their inventory before deadline. Hero MotorCorp alone has an inventory of over 300,000 vehicles that cannot be sold after April 1. Tata Motors has criticised the move, saying that the ruling amounts to a 'penalty' on the entire auto industry. Automotive firms are evaluating deep discounts that coincide with the upcoming Navratri festivals, and exports to countries that still permit BS III sales - such as countries in Africa and the Middle East. 

Stock in spotlight: Yes Bank, which completed its successful share offering, and has raised $750 million through the sale of new shares at Rs1,500 each. The previous $1 billion offering Yes Bank had attempted last year had failed, after which the company relaunched with a smaller offering. 

Photo of the day: Kids ride to school in Srinagar. Danish Ismail/Reuters