The men with guns tend to know little finance, and establishing such a conspiracy then involves leakage of information, which is also dangerous, Ajay Shah points out.
Hospitals to recover from sluggish Q3; diagnostics' growth rate at pre-Covid levels.
Taiwan in 1951 came up with an ingenious plan to improve tax compliance: citizens taking receipts for purchases could use them as lottery tickets. Customers were incentivized, and businesses found it hard to evade taxes. The plan's success prompted other countries, Slovakia and Greece among them, to launch similar initiatives. India doesn't seem to find the need yet for such schemes amid surging goods and services tax (GST) collections.
While it is very difficult to ascertain the total number of such screens across the country, a study, commissioned by a film company, projects an annual revenue loss of Rs 436 crore (Rs 4.36 billion) to the film industry from just 500 such screens, which charge only Rs 15 a ticket.
The Maharashtra government on Wednesday announced a ban on the production, sale, distribution and storage of gutkha and paan masala in the state.
Two sub-committees, set up by the government to resolve the issues of compensation to states for revenue loss on account of a reduction in central sales tax and the final design of GST, are also likely to miss the December 31 deadline.
Avenue Supermarts, the operator of DMart retail chain, reported good results for the July-September quarter (Q2FY24) with strong earnings before interest before interest, taxes and depreciation (Ebitda) and profit before tax (PBT) growth, but lower PAT due to higher tax incidence. The operating margin improved, and like-to-like store sales growth was strong. Average bill value also increased though this may be a seasonal effect to some extent. Analysts are assuming this means the slowdown in retail may have bottomed out.
'However, we have seen weakness in our active pharmaceutical ingredients business.'
Uber Chief Executive Officer (CEO) Dara Khosrowshahi sees India as one of the toughest markets and a standard to succeed in any other part of the world. One of the biggest challenges for the ride-hailing firm, according to Khosrowshahi, is the expectation of Indian consumers for more services at lower spending. "India is one of the toughest markets out there.
Edtech major Byju's is learnt to have closed $250 million fundraising from Davidson Kempner Capital and is in the process to close another funding round of $750 million by the end of this month, sources aware of the development said on Friday. The company has raised $250 million at a flat valuation of $22 billion, sources said. "Byju's has successfully closed a $250 million fundraising from Davidson Kempner Capital Management.
Relief seen from easing global crude oil prices, phased diesel decontrol and capping of LPG cylinders.
While questions may arise over the sheer dominance of a single corporate group in running airports in the country, it pretty much fits into the government's plan to get out of this space and earn revenue without working for it.
Ministry caps number of flights out of Delhi, Mumbai.
A lot depends upon the crucial decision-making skills of the management. If you have any doubts about the management then you always have the choice of selling your shares or not buying stocks of those companies at all.
The Cabinet on Wednesday approved amendments to the GST bill to compensate states for revenue loss for five years on introduction of the uniform nationwide indirect tax regime.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
The ED had attached Sai Resort NX, constructed over the land located at Gut no: 446, Murud in Ratnagiri's Dapoli, in January.
Finance Minister Arun Jaitley on Tuesday assured Rajya Sabha that the Centre will fulfill all commitments made towards Andhra Pradesh in 'letter and spirit', following protests by some Congress members.
The government on Tuesday ruled out any further increase in diesel and cooking fuel prices even though the current retail rates are lower than their cost of production.
It argued that the duty reduction will not lead to revenue loss for the government.
The airline reported a loss of over Rs 1,000 crore last fiscal which is five times higher than its 2013 loss.
Besides, it loses Rs 15.46 per litre on kerosene and Rs 158.78 per domestic LPG cylinder as the government has not allowed them to revise retail prices.
In a major embarrassment to the Inter-Services Intelligence, United States-based Kashmiri separatist leader Syed Ghulam Nabi Fai, on Wednesday pleaded guilty to federal charges of spying for the Pakistani spy agency and illegally lobbying the Congress to influence the American policy on Kashmir.
As the heavy rains continued on Wednesday also, Orange alert was sounded in 12 of the 14 districts of the state for the day.
The ministry of finance has shot off a missive to the Department of Telecommunications stating there could be a revenue loss in 2006-07 to the national exchequer, owing to reduced license fee from international and national long distance services.
The DoT and CAG developments come in the wake of reports of revenue loss and misuse of WiMax licences.
Chaudhari was released from Arthur Road Jail in central Mumbai after completion of formalities, including furnishing of a cash bail of Rs 1 lakh, his lawyer Mohan Tekavde said.
The combined debt of Indian Oil, Bharat Petroleum and Hindustan Petroleum has risen to Rs 115,000 crore (Rs 1,150 billion) as they borrowed to make up for revenue losses on fuel sales during the first half of the current fiscal.
The huge loss at Merrill follows Citigroup Inc's write-off of $18 billion against sub-prime exposure. Citigroup, on Tuesday, had reported the biggest loss of almost $10 billion in its 196-year history.
Formula One drivers expressed shock after the sport's governing body quadrupled the amount stewards can fine them to a maximum of one million euros ($1.06 million).
Sun Pharmaceutical Industries (Sun Pharma) reported a turnaround in the January-March quarter of the 2022-23 financial year (Q4FY23), declaring a profit after tax (PAT) of Rs 1,984 crore versus a loss of Rs 2,277 crore in Q4FY22. However, that loss in FY22 was due to several exceptional one-time items -- with Rs 3,723.15 crore allocated to settlement of lawsuits in the US and other Exceptional Items adding up to Rs 3,935.75 crore. Adjusted for exceptional items, PAT in Q4FY22 amounts to Rs 2,155 crore, which is a year-on-year (YoY) growth of about 36 per cent.
Some serious cost-cutting has resulted in significantly lower losses at JLR.
About a dozen states cutting across party lines on Wednesday pitched for extending the mechanism to compensate states for revenue lost from the implementation of GST beyond June 30, but no decision was taken. Briefing reporters about deliberations at the two-day meeting of the GST Council in Chandigarh, Union Finance Minister Nirmala Sitharaman said finance and other ministers of 16 states spoke on the compensation issue. Of the 16 states, 3-4 spoke of evolving their own revenue stream to break from the compensation mechanism, she said.
Delhi high court judge (retired) Shiv Narayan Dhingra, who is heading commission probing the grant of licenses to entities in Sector 83 of Gurgaon, on Thursday said Sonia Gandhi's son-in-law Robert Vadra may be called to record his statement "if required".
Last month, Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum were losing Rs 390 crore (Rs 3.9 billion) per day on sale of petrol, diesel, kerosene and domestic LPG. This month, losses have come down to Rs 352 crore (Rs 3.52 billion) per day, an industry official said.
GST Council has also reached consensus on the definition of revenue to compensate states for revenue loss
The stock of the retail chain Avenue Supermarts (Dmart) was the biggest loser in the BSE 100 Index shedding 4.35 per cent on Thursday and added to these losses on Monday by falling an additional 1.3 per cent. The Street was reacting to lower than expected operational performance by the company in the March quarter. The country's largest listed retailer by market capitalisation reported a 20 per cent year-on-year (y-o-y) growth in its top line to Rs 10,337 crore.
States also demanded that Budget for 2015-16 should make adequate provisions for central sales tax compensation for early roll out of Goods and Services Tax, a Constitutional Amendment Bill for which was tabled in the Lok Sabha last week.
