As per the SEZ Act, 2005, and SEZ Rules, 2006, SEZ units are entitled to exemption from duty of customs and excise, exemption from service tax and VAT, exemption from stamp duty and registration fees and exemption from electricity duty, besides income tax exemption on export profits.
How well do you know Amancio Ortega? Here are 10 facts about the reclusive owner of Zara.
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Can the leaky public distribution system, or PDS, deliver the subsidised grain to two-thirds of the population?
In a response to the August 3 order, the Centre, represented by Solicitor General Tushar Mehta, said till the time either the legislature or the poll panel steps in, the top court must lay down "dos and don'ts" for political parties in the 'larger national interest.'
'Who you know today will determine who you know tomorrow.' 'Becoming an expert in your domain will incentivise others to have you in their networks.' 'And the more diverse your network, the better it is.' An enlightening excerpt from Ambi Parmeswaran's All The World's A Stage: A Personal Branding Story.
Unlike private carriers such as Jet Airways and Kingfisher Airlines, Air India has not given any security as insurance against default, the Lok Sabha was informed on Friday.
The Madras high court has ordered the winding up of private carrier SpiceJet Limited and directed the official Liquidator attached to the high court to take over its assets, in a plea filed by a Swiss company over unpaid dues. The court was allowing a company petition from Credit Suisse AG, a stock corporation registered under the laws of Switzerland, which prayed for winding up of the Indian firm under the provisions of the Companies Act, 1956 and appoint the Official Liquidator of the high court as the liquidator with all powers under Section 448 of the Companies Act to take charge of SpiceJet's assets, properties, stock in trade and books of accounts. The "respondent company (SpiceJet) has miserably failed to satisfy the three pronged test suggested by the Supreme Court in Mathusudan Govardhandas & Co v Madhu Woollen Industries (P) Ltd, and hence had rendered itself liable to be wound up for its inability to pay its debts under Section 433 (e) of the Companies Act 1956," Justice R Subramanian said in his order on Monday and directed the private carrier be wound up and the official liquidator take over its assets.
Rajya Sabha was adjourned sine die on Wednesday evening, two days ahead of the scheduled end of the Monsoon session, after the passage of four bills including on the OBC list and state-run insurance companies.
A cross-gender staff deployment -- female officers where male MPs were protesting and male officers where female MPs were protesting -- was made. But this did not deter the MPs belonging to a cross-section of opposition parties -- from the Congress to the Left to the TMC and to the DMK.
The Asian markets are largely trading in the green, taking heart from a positive close on Wall Street.
A Bill has been introduced in the US Congress aimed at enforcing punitive action against companies doing business with Iran that may impact Indo-US nuclear pact and create obstacles for Iran-Pakistan-India gas pipeline.
With a narrow industrial base and dysfunctional politics, and a counter-productive national security agenda, Pakistan could well remain an 'international migraine', observes T N Ninan.
Microsoft chairman and chief software architect Bill Gates will inaugurate the Digital Lifestyle 2005 to be organised in Bangalore by MAIT, the apex body representing the hardware, training and R&D services sectors of the IT industry in India.
Employers will also have the option to pay wages in cash.
New Jersey Senate in US has approved a bill to ban companies, which take government contracts, to move their call centres abroad for cheap labour
An audit conducted by professional services firm Alvarez and Marsal confirms fintech firm's dealings with fake or non-existent vendors.
Having already invested $100 million in companies with significant operations in India over the last three years, Clearstone Venture Partners has now fielded its entire top team in the country to look for venues for investing $250 million it has in i
The report touches on variety of issues including consent, rights of children, data protection authority and right to recall data.
Russian traders have started asking for payments in ruble for their exports to India in a move that could derail trade between the two countries which gathered pace after the war in Europe. This is because Indian importers are unable to pay in ruble. The India-Russia trade gathered pace after Vladimir Putin invaded Ukraine in February this year. In the April-June quarter, India's imports from Russia were valued at $9.27 billion, up 369 per cent year on year.
This challenge has been made a little more daunting with the addition of two new uncertainties.
The per second billing introduced by telecom companies has come as a boon to millions of mobile users in the country but it is proving to be a bane for cellular service providers as it is affecting their revenues, feel industry experts.
Amendments would be required in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 for privatisation, sources said.
India does not have the facilities needed for developing advanced aerospace products. There is only one wind tunnel in the country, the almost six decade old one in the National Aeronautics Laboratory.
Wayward employee behaviour at Uber and Infosys highlights the risk to corporate reputations.
A typical consumer will have to opt for Jio's Rs 499 plan, which is a steep 2.5 times more than what the average user pays at present.
The United States Senate has passed the landmark comprehensive immigration reform bill that will provide a pathway to citizenship to some 11 million illegal immigrants, including over 240,000 Indians.
The Securities and Exchange Board of India (Sebi) has just released a proposal to alter the regulations pertaining to the sponsor system for mutual funds. One of the reasons for the proposed changes is that there are two conflicting regulations that need to be clarified. The other reason is that the sponsor system may itself be outdated as it stands, and the proposed changes would allow new entities such as private equity funds and portfolio management services to enter this space.
'Why does a State that sees a national security issue at every turn not recognise the seriousness of the data from sensitive databases being breached?'
In pursuance to the requirement of the LLP Act, the government had tabled the winding-up rules in Parliament during the first week of July. The LLP, which is a hybrid of partnership firms and companies, provides for another mode of setting up a business.
On February 24, when Vladimir Putin announced a military operation on Ukraine, few would have thought that Indian government-owned GAIL India would feel the impact. The tensions over gas supplies were essentially a Europe-Russia problem, related to the sanctions western economies imposed on Moscow. But the EU depends on Russian imports for 40 per cent of its gas stocks, an over-dependence that Russia has underlined with Kremlin-owned Gazprom cutting its supplies through the Nord Stream 1 pipeline to 20 per cent, citing maintenance issues.
PayMate is here with a mobile payment solution, which offers convenience and flexibility of making payments by simply sending an SMS.
Payments made by any person of an amount aggregating to Rs 100,000 or more in cash towards credit card dues will have to be reported.
Until now, these platforms were either working through an investment advisory (IA) or stockbroking licence.
A bipartisan Bill has been tabled in the US House of Representatives to make companies that move call centres overseas ineligible for grants or guaranteed loans from the American government, a move aimed at stemming the tide of jobs heading to nations like India.
Four companies - Rajesh Exports, Hyundai Global Motors Company, Ola Electric Mobility and Reliance New Energy - are eligible for receiving benefits under the production-linked incentive (PLI) scheme for advanced chemistry cell battery storage, the heavy industries ministry said on Thursday. The allotment was made for a total of 50 GWh of battery capacity to the four successful bidders. These firms, the ministry said, will receive incentives under India's Rs 18,100 crore programme to boost local battery cell production.
"We (at the cabinet) discussed the hijab row, but as the high court is hearing the matter, we felt it is not appropriate for the cabinet to take any further decisions on the issue today. It was decided to wait for the court's verdict before taking any decision," Law and Parliamentary Affairs Minister J C Madhuswamy said.
Three marquee exits accounted for nearly 60 per cent of the total exit value -- BillDesk's acquisition by PayU for $4.7 billion, Paytm's $2.5 billion initial public offering (IPO), and Zomato's public market debut of $1.3 billion.
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