'The low tax to GDP ratio of the country will go up, helping the government to adhere to fiscal discipline and keep inflation in check.'
Parliament on Thursday cleared the decks for the rollout of the historic Goods and Services Tax from July 1 as it approved four supporting legislations to usher in the one-nation-one-tax regime.
The retail industry witnessed robust top-line growth for the greater part of the previous financial year, but demand has started to show signs of fatigue seen in the January-March quarter (fourth quarter, or Q4) of 2022-23 (FY23), especially in the apparel and innerwear segments. Jewellery, however, has managed to hold on to demand in the quarter. "In the discretionary space, demand moderation in urban markets is expected to impact the quick-service restaurant and apparel categories the most, while paint, luggage, and jewellery should see resilient growth," Systematic Institutional Equities observed in its preview of the sector.
Security and intelligence agencies will soon be provided with a new platform which is technologically advanced, secure and helpful in dealing with new age criminals and anti-social elements, officials said on Wednesday.
The GST Network's chairman Navin Kumar speaks to Dilasha Seth and Indivjal Dhasmana on various aspects of the new tax regime.
Simple takeaways from the Union Budget 2015-16 and how it impacts your life
Some of the players in the GST race are Payworld, Dell, Tally Solutions
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Tax experts are nudging the authorities to figure out why so many assessees are not filing their returns.
Britain's third female prime Minister, Liz Truss, was out of office on Thursday after the shortest tenure at 10 Downing Street in London and without a cherished India-UK free trade agreement (FTA) under her belt as a Brexit prize.
Indian economy about to take-off
'Defence funding is channelled to State-owned research organisations where scientists are merely bureaucrats holding meetings and sending out minutes of meetings and press releases, but have long ago stopped any innovative work.' 'Unless this tragedy is fixed, India's chances to create world-conquering and job-creating new industries are slim,' says Ajit Balakrishnan.
HCL Technologies on Monday announced a special one-time bonus worth over Rs 700 crore for its employees, as the IT giant marked $10 billion (about Rs 72,800 crore) revenue milestone. The special bonus will be paid to employees in February 2021, amounting to nearly $90 million plus payroll taxes in some countries, the impact of which is excluded from FY21 EBIT (earnings before interest and taxes) guidance provided by the company last month, HCL Tech said in a statement. HCL Technologies said it is "issuing a one-time special bonus to employees around the world" worth over Rs 700 crore in recognition of its recent milestone of crossing the $10 billion mark in revenue for 2020.
'If we are to be a contributor to the economy, we have to reduce carbon and imports.' 'We will achieve both -- that's our target.'
Few angels have seen exits; till that happens, they won't be rushing to invest again.
It's time the government accepts that Digital India is too distant.
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
'There are occasions when the prices of individual items like food raise inflation; then supply-side measures must be taken.' 'But if there is continued inflation, it means liquidity is aggravating the situation.'
India's second-largest telecom firm Bharti Airtel on Tuesday reported a net profit of Rs 1,134 crore for the September 2021 quarter, and said it is witnessing strong business momentum with growth in 4G customers and increase in mobile ARPU. This is against a loss (attributable to owners of the parent) of 763.2 crore during the year-ago quarter, the company said in a statement. Its consolidated revenues for the second quarter of FY21 stood at Rs 28,326.4 crore, up 18.8 per cent year-on-year (on a comparable basis) and 13 per cent y-o-y on a reported basis, it added.
In many ways, the 68th Republic Day parade was unique.
India is home to almost 1.3 billion people.
It expects the Indian market to grow to 10 million units annually by 2030 and it intends to control half the market then, like it does now.
Entirely new businesses have been built using data to disrupt traditional companies.
GSTN said those who do not want to give their Aadhaar numbers would have to undergo physical verification.
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
A GST roll-out by April 1 looks difficult, giving the companies some succour.
Gujarat and Karnataka have been ranked as the best performers in developing startup ecosystem for budding entrepreneurs, according to the ranking of states and Union territories by the Department for Promotion of Industry and Internal Trade (DPIIT). Among smaller states having population of less than one crore, Meghalaya has been adjudged as the best performer. The rankings are based on the initiatives taken to develop the startup ecosystem for promoting budding entrepreneurs.
The deposit has been made on account of the rate reductions approved by the GST Council in its November. The rate was reduced on items including shampoo, detergents, chocolates, beauty products, sanitary ware, leather clothing, cookers, stoves, after-shave, deodorant, detergent and washing power. Companies found it difficult to pass on the benefits to consumers immediately at the time of GST rate reduction owing to logistical issues.
Simpler GST structure will be key poll plank, Congress sources tell Archis Mohan.
Ironically, West Bengal, which has been seeking a postponement of the GST roll-out, has fared better among most other states.
This meeting has led to the deferment of the Goods and Services Tax (GST) Council meeting by a day.
Barely 10% of small businesses are in a GST-ready position, say experts
If international crude oil prices zoom past the current level of about $90 per barrel and move towards $100 and beyond, middle-class consumers are not going to keep quiet about their discomfort, points out Arun Balakrishnan, former chairman and managing director, Hindustan Petroleum.
20 Indian CEOs and 350 companies are participating in the Hannover Fair.
Mittal said he discussed a plethora of issues with Commerce and Industry Minister Piyush Goyal and sought the government's support for faster clearances to streamline the group's investment plans.
Panel formed to simplify return-filing process, take feedback from stakeholders, experts
'Dear Business Partner, Kindly note and inform your all customers that Digital Cashback has been revised from 0.75 per cent to 0.25 per cent with effect from August 1, 2018 across oil industry for all loyalty customers,' said the text message sent by State-owned oil companies to petrol pump operators.
Higher costs of car inventories, missing sales targets and manufacturer expectations, and soaring rentals, are eating into dealers' margins.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
Global consultancy firm PwC India on Wednesday said it will invest up to Rs 1,600 crore and create additional 10,000 jobs in the next five years. Announcing its new business strategy 'The New Equation', PwC India said the firm will also increase its campus hiring by over five times in the same time period. The New Equation is based on analysis of trends and thousands of conversations with clients and stakeholders, it said in a release.
