Tag: Business

Jettwings Airways Submits Expression Of Interest For Bankrupt Go First

October 12, 2023 admin

Go First’s total revenue from operations stood at Rs 4,183 crore in financial year 2021-22. New Delhi: Jettwings Airways today said it has submitted an Expression of Interest for the grounded Go First, which is undergoing an insolvency resolution process. The carrier, which has its base in Guwahati, recently received a No Objection Certificate (NOC)…

Business

Sensex rises 393 pts, Nifty closes above 19,800 on gains in energy FMCG shares

October 11, 2023 admin

Sensex rose by 393 points while Nifty closed above the 19,800 level on Wednesday | Photo Credit: Reuters Benchmark Sensex rose by 393 points while Nifty closed above the 19,800 level on Wednesday on buying in energy, FMCG and capital goods shares amid mixed global cues and easing inflation concerns. Rising for the second straight…

Business

18% GST On Corporate Guarantees For Their Subsidiaries

October 7, 2023 admin

GST Council also decided to levy 5 per cent tax on millet-based flour when sold in pre-packaged New Delhi: The GST Council on Saturday clarified that guarantees provided by corporates to their subsidiaries will attract an 18 per cent GST, while no tax will be levied if a personal guarantee is given by a director…

Business

28% GST Already Applied On Online Gaming, Casinos, Not Retrospective: Centre

October 7, 2023 admin

The GST Council decided to clarify levy of 28 per cent GST on online gaming platforms New Delhi: As states like Delhi and Goa raised the issue of tax demand on online gaming companies and casinos retrospectively, Revenue Secretary Sanjay Malhotra on Saturday reiterated that 28 per cent GST was levied on online gaming and…

Business

5% GST On Millet-Based Flour If Sold In Pre-Packaged, Labelled Form

October 7, 2023 admin

5 per cent GST on millet-based flour when sold in pre-packaged and labelled form New Delhi: The GST Council on Saturday decided to levy a lower 5 per cent tax on millet-based flour when sold in pre-packaged and labelled form, Finance Minister Nirmala Sitharaman said. Flour, containing at least 70 per cent millets, will attract…

Business

Morning Digest | FIR links NewsClick case to legal aid for Chinese companies; Canada moves diplomats out of India to Singapore, Malaysia, and more

October 7, 2023 admin

The FIR filed by the Delhi Police cites tax evasion cases being faced by companies such as Xiaomi and Vivo in India. File | Photo Credit: Reuters FIR links NewsClick case to legal aid for Chinese companies The Delhi police have levelled a wide range of charges in their First Information Report (FIR) against NewsClick founder Prabir Purkayastha, American…

World

India Among Top 3 Nations With Highest 5G Base, Remarkable: Nokia CEO

October 5, 2023 admin

New Delhi: The 5G network rollout in India has been remarkable and the country is among the top three nations with the largest 5G installed base in the world, a top Nokia official said on Thursday. Nokia President and CEO Pekka Lundmark was addressing an event during the inauguration of the company’s 6G research lab…

Business

UK’s Superdry To Sell South Asian Intellectual Property Assets To Reliance For $48 Million

October 4, 2023 admin

Superdry’s shares jumped 18% to a near two-month high on Wednesday. Bengaluru: Reliance Retail, India’s largest retailer, will buy UK-based Superdry’s licenses and brand assets in three Asian countries for 40 million pounds ($48 million), expanding its tie-ups with foreign brands and giving the struggling UK fashion retailer much-needed funds. Superdry’s shares jumped 18% to…

Business

Over 30 Lakh Audit Reports Filed On Income Tax Department Website

October 2, 2023 admin

To facilitate the taxpayers, extensive outreach programmes were carried out New Delhi: Over 30 lakh audit reports (TAR) were filed till September 30 on the e-filing portal of the Income Tax Department, the tax authority said on Monday. The Income-tax Department through the release appreciated taxpayers and tax professionals for making compliances on time. Those…

Business

Reliance-Backed Dunzo Co-Founder Dalvir Suri Quits, Startup To Restructure

October 2, 2023 admin

Dunzo has been struggling to strike a funding deal Bengaluru: On-demand delivery platform Dunzo said today one of its four co-founders, Dalvir Suri, would leave and the cash-strapped, Reliance Industries-backed startup. It also announced an organisation-wide restructuring from this quarter. Dunzo has been struggling to strike a funding deal in the past few months and…

Business