Experts said the builders will now factor in their losses arising from the removal of input tax credit when they pass on the benefits to end users while the latter may want the entire GST cut to be given to them.
The founding members of The E-Commerce Council of India include Snapdeal, ShopClues, UrbanClap, Shop101, Flyrobe and Fynd, among others.
An industry source said the Act would create high-entry barriers for new service providers and limit customer choice
Currently, the company is present in over 259 Indian cities, with over 8,700 buildings (hotels and homes) and more than 173,000 rooms.
Within 24 hours of the announcement of poll dates, traction on poll-based apps has risen drastically, report Karan Choudhury and Neha Alawadhi.
Among other things, taking note of complaints against several Chinese e-commerce players such as Shein, Ali Express etc for sending shipments as 'gifts' to customers in India and avoiding duties, the government has now mandated that all e-commerce sites and apps must have a registered business entity. This will be the importer on record and subject to customs rules, report Subhayan Chakraborty, Neha Alawadhi and Karan Choudhury.
With the insistence on data centres to be onshore, entities in real estate believe there is going to be a rise in demand for specialised Grade-A commercial spaces to set these up.
While the new norms are part of the draft policy's guidelines to fight counterfeit and fake products on platforms, they might end up helping brands and e-commerce firms sign exclusive sale deals.
Ministry of home affairs and the IT ministry are planning to have a series of discussions with representatives from Facebook, WhatsApp, Twitter, and Google on issues around national security and the problem of fake news. Asking for decryption keys from WhatsApp to track conversations on the chat app is also part of the agenda.
'Co-living is a phenomenon that is bound to strike the right chord with young people everywhere and India will lead the charge as the testing ground for all such ideas.'
Going ahead with its festive sales as per schedule, companies such as Flipkart, Jabong, and Myntra are having week-long Valentines' Day sales, offering discounts of as much as 80 per cent. Amazon India is also offering discounts of almost 40 per cent.
The duo spent almost $400 million in 2018 on rapid expansion as well as discounting to gain new customers, and Uber Eats has managed to edge out Foodpanda by 2 million orders.
While the government's recent moves may have been necessary in some cases, these would have an adverse impact on the investment cycles of some of these companies. The marquee global names are suddenly finding themselves out of favour as local flavour is gaining currency in the run up to 2019 elections.
GST rates on under-construction houses maybe reduced from 12 pc with input tax credit to 5 pc without ITC. Similarly, the rate for under-construction affordable houses could come down to 3 per cent without input tax credit, from the current 8 per cent.
In an otherwise agriculture- and public health-focused Union Budget 2018-19, artificial intelligence, machine learning, blockchain technology, internet of things -- jargons that found little or no mention in the previous Budgets -- managed to make their presence felt.
As Amazon India, Flipkart are forced to shut down 60 categories and push out 45 mn products, a new lobby group comprising sellers is in the making to take up e-com concerns.
Multi apps will be designed by taking core parts of the Hike product and remoulding them into creating new apps, each delivering one service -- Social and Messaging in one and Content in another, report Patanjali Pahwa and Karan Choudhury.
PhonePe via Bharat Bill Payment System (BBPS) plans to get into a number of new verticals, including fee payments in schools and colleges, payments at hospitals and other services
Amazon India is waiting for clarifications from the government on several aspects of the latest FDI guidelines to be able to carry on with business in the country. Sources said, no new investment is likely till at least the second half of 2019.
Paytm Travel claims to have a base of around 13 million customers, a threefold increase over the user base in FY17. While significant, it is but a fraction of Paytm's wallet user base of more than 300 million.
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