Telecom equipment from China may face fresh curbs after the Cabinet on Wednesday cleared a proposal to secure telecom infrastructure by designating a "trusted source" for the purchase of equipment by service providers. Briefing reporters after the meeting of the Cabinet Committee on Security headed by Prime Minister Narendra Modi, Law, Telecom and IT Minister Ravi Shankar Prasad said a National Security Directive on Telecommunication Sector has been framed keeping in mind the national security.
E-commerce firms and sellers including Amazon and eBay have made recommendations to the government for a differentiated policy framework for e-commerce in the revised Foreign Trade Policy (FTP) which is expected to come into effect from April 1, 2021. This is because the existing policies on exports have catered largely to traditional, offline and business-to-business exports. Suggestions have been made to the government that through the FTP, it is important to create a conducive policy framework for e-commerce exports that lowers the entry barrier for small businesses to start exporting, according to the industry sources.
'The first year of the Modi government's second term has laid the roadmap for the future and we will embark on it with gusto,' promises Gopal Krishna Agrawal, the BJP's national spokesperson on economic affairs.
The GST Council's agenda includes trimming the number of items in the 28 per cent slab by 75 per cent, easier compliance for assessees and small taxpayers, and a presentation on bringing real estate under GST.
Google LLC has contended that the information technology rules for digital media are not applicable to its search engine, and urged the Delhi high court on Wednesday to set aside a single judge order which applied the rules on the company while dealing with an issue related to removal of offending content from the internet.
The ministry of home affairs has made the use of Aarogya Setu app mandatory for all employees, both private and public, and pinned the responsibility for compliance on the head of respective organisations.
In the year-long crackdown on tax evasion, the GST authorities have unearthed over Rs 35,000 crore of tax fraud committed by misuse of input tax credit provision under the Goods and Services Tax (GST) regime. During the 2020-21 financial year, the CGST zones and the Directorate General of GST Intelligence (DGGI) booked about 8,000 cases involving fake ITC of over Rs 35,000 crore, a statement from CBIC said. Under the GST regime, at the time of paying tax on output, entities can reduce the tax they have already paid on inputs.
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
Experts consider Sebi's takeover code in its present form to be on a par with any foreign code governing public mergers and acquisitions.
Cyber crimes in 2016-2017: 1,372 cases. Cost: Rs 423 million.
Apart from a stake buy, some other options on the table include a merger of the entertainment businesses of Sony and Network18 Media.
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.
Taxmen have come across instances where global firms - charged a withholding tax of 6 per cent - are underreporting the exact income they earned from an Indian user.
The move to allow payments through digital wallets could give a fillip to distribution and reach for these investment vehicles, say experts.
Professionals with sharp technical skills and knowledge of emerging markets will continue to be in demand, says Nikhil Barshikar, founder and CEO of Imarticus Learning, a tech learning and training company.
The Ministry of Information and Broadcasting (MIB) also told Justice Navin Chawla that on October 9 it issued an advisory to all private satellite TV channels to adhere to the programme code provided under the Cable Television Networks Rules.
The photograph/s that we post, the comments and likes that we share on other people's timelines are all important reference points for hiring managers and recruiters, says Aashish Taneja.
The government is planning to extend the electronic modes of tax payment to its own payments platform, Unified Payments Interface (UPI), credit cards of banks, or even a mobile wallet like Paytm.
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
Rs 3,050-crore penalty on Airtel, Voda Idea gets nod. Final decision will be taken by DoT.
If raters get away by moving from AAA to D overnight after companies default, as happened with DHFL, YES Bank, RCom, and IL&FS, it shows a complete breakdown in the rating system. It calls for exemplary punishment, not kid glove treatment, says Debashis Basu.
'If Indians are to be truly protected, Parliament must review and address these dangerous provisions before they become law.'
Fresh guidelines issued by the Union home ministry on Wednesday permit industries operating in rural areas to run from April 30 with strict social distancing norms.
Compliance requirements, valuation, input tax credit transfers are likely to lead to tax litigation, says Sayan Ghosal.
Demonetisation and GST are the main reasons for the job losses.
If the Personal Data Protection Bill gets passed in its present form, a new class of companies and entities could emerge. The sole job of these new entities would be to manage the consent for data usage of a user.Banks, healthcare firms and fintech companies, among others, fear that sharing non-personal data with the government may hurt business interests. Banks also fear the threat of data misuse.
The government, in February, had released the draft national e-commerce policy proposing setting up a legal and technological framework for restrictions on cross-border data flow and also laid out conditions for businesses regarding collection or processing of sensitive data locally and storing it abroad.
A government report revealed that fake companies floated with fake addresses, issued fake GST invoices and generated fake e-way bills, with fake vehicle registration details without supplying any goods causing huge loss to the exchequer.
Tele/video-consults have been effective for patients requiring post-hospitalisation follow-up, especially if they are from outside the city; patients with chronic diseases that need periodic monitoring; and pregnant women who require routine checkup with minimum exposure.
Though many students attended school, with letters of consent from their parents, some chose to continue education online with their guardians anxious about the pandemic situation and the emergence of a new strain of the novel coronavirus.
Amazon CEO Jeff Bezos is in India this week and is expected to meet top government functionaries, business leaders and SMBs.
Gold sales were reported at 40 tonnes last year; this might have been surpassed this year.
After being closed for over five months due to the COVID-19 pandemic, metro services will be resumed in three stages from September 7-12, but stations located in containment zones will remain closed.
He said the Fourth Industrial Revolution will have more importance than the capital.
New risks have been identified, which include risk of non-compliance, business investment risk and legal regulatory risk.
India has too many small companies and this is inefficient. It should instead have only a handful of very large players running its economy and these giants can then compete with the world, observes Aakar Patel.
The app, which has close to 1 million users per day, its lawyer, is losing close to Rs 4.5 crore in revenues every day.
In an address at the Council of Heads of Government meeting of the eight-member SCO, Vice President Venkaiah Naidu said the most important challenge faced by the region is terrorism, particularly cross-border terrorism, and that India remained concerned about threats emerging from ungoverned spaces as well.
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Currently, the Shannon Development Centre employs over 200 professionals, delivering IT and business process services' offerings to marquee retail banking and insurance customers across Ireland and the UK.
Executive lounges with happy hours, complimentary hors d'oeuvres, and complimentary services have been the norm - but not anymore.
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