Goods-and-service-tax Business Featured National 

Goods and Service Tax Council increases exemption limit for SMEs

The Goods and Services Tax (GST) Council in its 32nd meeting took the decision to reduce the tax and compliance burden on the small and medium enterprises, including increasing the threshold limit below which companies are exempt from Goods and Service Tax, extending the Composition Scheme to small service providers, and allowing small companies to file annual returns. On Thursday, Finance Minister Arun Jaitley announced that that the limit for eligibility for the Composition Scheme would be raised to an annual turnover of Rs.1.5 crore from April 1, 2019. He also added…

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Air-India-Truecolumn Business Featured National 

Government Eyes about Rs.7,000 crore from Air India sale

The government is keeping an eye around USD 1 billion (about Rs.7,000 crore) from the sale of national carrier Air India in the next financial year, said the government official on Wednesday. The government will initiate the process of strategic disinvestment of Air India in the second half of 2019-20 and in between it would work towards selling some of its subsidiaries and monetise assets. Air India has a debt burden of Rs.55,000 crore. Last year in November,  The Finance Minister Arun Jaitley had approved transferring Rs.29,000 crore debt to…

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Business Featured National 

Supreme Court Put Stay Order on Maggi

The Supreme Court on Thursday raised a stay on the proceedings of a case filed by the Center in the National Consumer Disputes Redressal Commission against the maker of Maggi, Nestle India, seeking damages of Rs 640 crores on charges of unfair trade practices, false labelling and misleading advertisements. Now the National Consumer Disputes Redressal Commission (NCDRC)  can continue proceedings against Nestle India, based on the results of tests of Maggi noodle samples conducted by the Central Food Technological Research Institute (CFTRI) in Mysuru. In December 2015, the top court had…

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bigbasket-truecolumn Business Featured 

Government sets New Rules for Food Delivery Platforms

On Friday, The Food Safety and Standards Authority of India (FSSAI) has implemented new guidelines for online food and grocery operators such as Grofers and Big Basket as well as food delivery platforms like Swiggy and Zomato. The national food inspector said food products which are offered for sale are liable to sampling at any point in the supply chain. Companies will also need to provide a sample of the food on their platforms so that consumers can recognise the product. All mandatory information mentioned in the Food Safety and Standards…

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Business Featured National 

Bank-led resolution of NPAs set to begin

Indian Banks’ Association (IBA) along with former deputy governor of Reserve Bank of India has set up an oversight committee with to kick start bank-led resolution of stressed assets under the inter-creditor agreement. The association has now asked the 34 lenders to initiate and send the resolution proposals under the scheme. According to the senior official of Indian Bank’s Association, banks have been told to provide forensic reports and credit rating of the borrower along with the resolution plan “Under Project Sashakt”, an overseeing committee (OC) is to be set…

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Business Featured Technology 

Government tightens norms for e commerce platforms

Wednesday evening was the shocking evening for E-Tailers after the Government came up with a review of the policy on foreign direct investment (FDI) in the e-commerce sector and barred online marketplaces like Flipkart and Amazon from selling products of companies where they hold stakes and banned exclusive marketing arrangements that could influence the price of the product. The ministry of commerce and Industry said that the revised norms are aimed at protecting the interest of domestic players, who have to face tough competition from e-retailers having deep pockets from…

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Business Featured National 

ALL INDIA BANK STRIKE: SERVICE TO BE AFFECTED

On Wednesday, the various public sector and some of the private and foreign banks had undergone a day-long strike to protest against the amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda. However, some of the new private sector banks will remain unclosed. Most of the banks have already informed customers about the strike. The strike was called by the United Forum of Bank Unions (UFBU) including the All India Bank Officers Confederation (AIBOC), All India Bank Employees’ Association (AIBEA), National Confederation of Bank Employees (NCBE) and the…

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google-duo-truecolumn Business Featured International Technology 

Google Duo crosses 1 billion mark on Google Play

Google Duo the video calling and messaging app of Google which was launched on August 2016 and with instant messaging app Allo has crossed one billion marks on the google play store. Google’s video chat app Duo has now been downloaded more than 1 billion times on Google Play by the people. In the year 2018, the video calling app has launched Duo support for iPad, Android Tablet, Chromebook, and Smart Displays.                                    …

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Business Featured National 

GOODS AND SERVICE TAX Council cuts rates on 17 items and 6 services, rationalises 28% slab

The Goods and Service tax council on Saturday cut the tax rate on 17 items including televisions, movie ticket, monitors and other electronic items and on 6 services, excluding cement in the 28% bracket. The finance minister of India Mr Arun Jaitley said that it is the Christmas Bonanza for every man and the reduces rate will come to an effect from January 1st, 2019. The goods on which GOODS AND SERVICE TAX has been lowered to 18 per cent from 28 per cent at present include pulleys, transmission shafts…

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LALU-YADAV-TRUECOLUMN Business Featured National 

RJD CHIEF LALU PRASAD YADAV GETS INTERIM BAIL BY DELHI HIGH COURT

On Thursday, the Delhi High court granted Interim Bail till January 2019 to former Bihar Chief Minister and RJD chief Lalu Prasad Yadav who is serving in jail term in Ranchi in two cases, Indian Railway Catering and Tourism Corporation (IRCTC) scam case And fodder scam case. Both the cases were filed by Central Bureau of Investigation and the Enforcement Directorate. Relief was granted to Lalu Prasad Yadav by the special judge Arun Bharadwaj after he was produced before the court through video conference from a Ranchi jail, where he…

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