The revenue collection in the same month a year ago stood at Rs 94,442 crore.
Record equity divestment by the Reliance Group in its telecom and retail businesses garnering around $23 billion revved up the deal street in 2020, which otherwise would have gone down as one of the dullest on record, and dealmakers are seeing sunnier days in 2021 given the large scope for consolidation in a slew of sectors ravaged by the pandemic. With Jio Platforms alone garnering over $16 billion (Rs 1,18,318 crore) by selling 25.24 per cent stake and Reliance Retail notching up $6.4 billion (Rs 47,265 crore) by divesting around 9 per cent shareholding, the deal street signed off with $85 billion in the deal kitty across 1,270 transactions. This is higher by about 10 per cent over 2019. What is significant is that over a third of the total deal value came from Reliance transactions, say investment bankers.
The e-invoicing system will be rolled out in a phased manner from January 1 on a voluntary and trial basis, beginning with firms with a turnover of Rs 500 crore, while businesses with a turnover of Rs 100 crore or more will be required to do it from February 1.
Increase in surcharge will adversely impact fund managers planning to shift to India. As a matter of fact several fund professionals based in India could also relocate to other jurisdictions, resulting in a brain drain.
Investors say they see large companies going through the grind, as their promoters struggle with liquidity because they are levered up at the holding company level and are starting to get margin calls thanks to the crashes in the stock market, and in the next six months, the targets that will come up for PE companies will make for a harvest season like never before.
This may mean easier access, simplified KYC and documentation requirements, and fewer investment restrictions for a majority of FPIs, especially broad-based funds and pooled vehicles that were earlier part of Category-II.
Amazon's fresh investment in its India entities come at a time when the Seattle-based firm has faced losses in several of its business entities in India, such as seller services, wholesale, transportation services and digital payments, for the 2018-19 financial year.
The ranking has improved marginally from the survey findings in 2015 when India was at the sixth position
A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans.
Prices of two-wheelers, passenger and commercial vehicles are set to rise 15-25%
The domestic deal-making activities were hit by weak corporate governance and a huge liquidity crunch in 2019, while the global deals were also hard to come by due to various factors including uncertainties caused by the US-China trade war, which left many investors in a wait-and-watch mode.
India is often viewed as an aggressive tax jurisdiction by domestic and overseas taxpayers, and making the charter as part of the Act may help restore confidence among taxpayers.
This is due to the newly formed Union Territories of Jammu and Kashmir, and Ladakh, which will get funds from the Centre's share, which means devolution will be for 28 states compared to 29 earlier.
The aim is to replace nearly 40 per cent of its existing last mile fleet of delivery vans with EVs by March 2020. o start with, the company is looking at deploying nearly 160 e-vans by the end of 2019.
With the introduction of the single window clearance provision, pre-production windows are expected to reduce significantly. Not only will it have an impact on the operational cost of the film, it will also allow studios to release films faster.
The first half of 2019-20 will be under pressure, since prices are expected to go up by Rs 7,000-8,000 at a time when sentiment is poor.
The lockdown that crippled the entire logistics, delivery and supply chain network to near zero, was enough to deal a body blow to India's fastest growing unicorn whose very business model saw a severe disruption, like several other firms and sectors.
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
From filing 37 returns a year when the Goods and Sales Tax was first introduced in July last year, the process has undergone major changes as the GST Council considered and implemented various models to ease the pain for assessees. Here's a recap of how the process has changed in 10 months.
Digitisation is changing the banking business. This shift has resulted in a change in banking job profiles.
While the farmers are not getting remunerative prices for their produce, at the same time they are forced to pay high prices for items they consume.
Apart from making your purchases on these platforms expensive, it will also mean sellers will have to face the brunt of reduced cash flows amid already low margins for some. Experts said the proposal, which will take effect on April 1, 2020, and will be inserted as a new section in the Income Tax Act, is expected to affect the working capital of e-commerce companies and reduce cash flows for e-sellers.
Indian firms, which experts say stand to gain from the European Union's upcoming General Data Protection Regulation (GDPR), are struggling to understand the policies.
Korea's second-largest automaker and Hyundai's sister company showcased a line-up of 16 models from its global portfolio at the ongoing Auto Show
Priyadarshini Maji evaluates the impact that payment banks are likely to have on your financial life.
However, economic growth in five years of the UPA and NDA cannot be compared because of the now complex back series data, reports Indivjal Dhasmana.
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
IAMAI in a statement, which represents digital businesses in India, said Trai's recommendation to formulate standards of anonymisation and de-identification was akin to putting the cart before the horse, and till such time the Srikrishna Committee submits the report, making these standards would be like groping in the dark.
The move will help address apprehensions as well as potential disputes on various computational and transitional issues such as the loss of input credits and pricing that were bound to arise on account of the change.
'There's a huge need for advancements in current security incident logging and monitoring practices.'
HUFs are not used for tax evasion but for tax avoidance/to save the tax within the four corners of the law. Experts say that there will be little or almost insignificant change in tax revenues.
Retrospective claims may not stand the test in international courts.
In this era of online commerce and virtual shopping, Raymond Ltd, one of India's oldest textile manufacturers and retailers, has tailor-made an offline strategy to maintain a strong foothold in the tier III and IV towns. Samreen Ahmad reports.
PE/VC investments touched a record $11.2 billion in the first half of 2017 against $8 billion in the same period in 2016
Before participating in such a scheme, do a detailed background check of the company's credentials, especially if the promised returns are unrealistic.
What is worrying is that this year, angel investments and seed funding deals have fallen by 40 per cent, ringing alarm bells in the start-up community in India.
Assembly elections coming up in November and December could offer a window of opportunity to the government to make GST attractive through rate cuts.
Will it benefit you? Or will it lead to an increase in inflation? Bipin Sapra believes it will be some time before GST's benefits reach consumers.
The loss of income has severely dented the loan repayment ability of small borrowers
The thrust will be on improving connectivity in economic corridors and remote and border areas with a view to hike trade and enable faster movement of cargo.
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