Business

Sunil Bharti Mittal to pledge Rs 7,000 crore of wealth towards philanthropy

NEW DELHI: The Bharti family, led by industrialist Sunil Bharti Mittal announced on Thursday it would pledge 10 per cent of its wealth, which is approximately Rs 7,000 crore, including its three per cent stake in group flagship Bharti Airtel, towards supporting the activities of Bharti Foundation, the Group's philanthropic arm.

IT department to challenge ITAT order favouring Tatas

Income Tax (IT) authorities are expected to challenge a recent order of the IT Appellate Tribunal (ITAT) here that dismissed a bid to tax the Tatas on capital gains of around Rs 1 lakh crore from the 2006 sale of Idea Cellular shares by a Mauritius subsidiary of the group.

1,500 entrepreneurs/investors from 150 countries for GES 2017 in Hyderabad

INDIANAPOLIS/HYDERABAD: The eighth annual Global Entrepreneurship Summit (GES) will be organized in Hyderabad, capital of Telangana state (India), from November 28 to 30. It was announced by co-hosts  United States of America and the Republic of India. The Summit will highlight the theme Women First, Prosperity for All, and will focus on supporting women entrepreneurs and fostering economic growth globally.

Cabinet approves anti-profiteering authority under GST

NEW DELHI: The Union Cabinet on Thursday approved setting up of the anti-profiteering authority under the Goods and Services Tax (GST) regime to be composed of a chairman and four technical members.

GST Council removes 178 items from 28% slab, only 50 left

GUWAHATI: In a major revamp of the GST tax structure, the GST Council on Friday removed 178 items from the highest 28 per cent category while cutting the tax on all restaurants outside starred-hotels to 5 per cent but withdrawing input credit facility for them. Industry welcomed the changes saying these would boost consumer demand

'GST on 50 items of mass consumption slashed to 18%'

GUWAHATI: The GST rate on 50 items of mass consumption, that were in the 28 per cent tax slab, has been slashed to 18, Bihar Deputy Chief Minister Sushil Kumar Modi, who heads the Group of Ministers panel for tackling IT-related glitches, said on Friday.

PayPal launches India operations

Global digital payments major PayPal on Wednesday announced its India operations, after offering cross-border payments in the country for close to a decade, the company said.

Mukesh Ambani tops Forbes' 2017 list of India's 100 richest tycoons

With a net worth of $38 billion, Reliance Industries Ltd (RIL) chairman Mukesh Ambani has topped Forbes annual list of Indias 100 richest tycoons of 2017, a statement said here on Thursday.

Ask small traders about ease of doing business in India: Gandhi to Jaitley

Congress Vice President Rahul Gandhi on Wednesday mocked at the BJP government over India's improved global ranking in ease of doing business, asking Finance Minister Arun Jaitley to see how small traders were suffering due to the double blow of demonetisation and hasty implementation of GST.

Vigilance Awareness Week in Bank of India

 A clear conscience is the epitome of integrity” with these inspiring words of Shri Atanu Kumar Das, Executive Director, Bank of India, unwrapped the Vigilance Awareness Week-2017 in the Board Room of their Corporate Office at Mumbai.

Did RBI have authority to issue Rs 2,000 and Rs 200 currency notes?

MUMBAI: In what could be a bizarre situation, the Reserve Bank Of India (RBI) does not seem to have any official records to prove that it had authorised the issue of new currency notes in denominations of Rs 2,000 and Rs 200, after demonetisation, according to documents available through RTI.

Genesis Burson Marsteller wins Sabre award for work with Medela

NEW YORK:  Burson-Marsteller, a leading global strategic communications and public relations firm, today announced its Indian operation, Genesis Burson-Marsteller, won a 2017 Global SABRE Award for its campaign with Medela called Back to Work. Presented by leading industry publication The Holmes Report, the Global SABRE Awards celebrate superior achievement in branding, reputation and engagement and recognize the 40 best PR campaigns in the world. The awards were presented at a ceremony during #PRovoke17, The Holmes Report’s Global PR Summit, in Miami on October 25. Back to Work ranked ninth out of the top 40.

Amazon gets 238 proposals for second headquarters

Commerce and Cloud computing giant Amazon has said it has received 238 proposals from cities and regions vying to host its second headquarters.

Jaipur and Srinagar Airports rated Best Airports in the World in 2-5 million Passenger category in ACI-ASQ Survey

NEW DELHI: The Jaipur and Srinagar Airport got First and Second rank respectively in the category of 2-5 million passengers in ACI-ASQ Survey. Dr. Guruprasad Mohapatra, Chairman, Airports Authority of India along with his team received the ACI-ASQ Award at a function held in Mauritius on 17th October 2017. The Chairman congratulated both APDs for their stupendous achievement and challenged more AAI airports to compete and win at ACI-ASQ Awards in their respective categories in future.

Jio customer base risen to 13.86 crores, Reliance incurred loss of 271 crores

CHANDIGARH: The Jio network of Reliance which created a history of largest customer base in telecom sector in India is adding up more customers but it is proving costly for the company. At the end of the quarter ending September 2017, the Jio has incurred a loss of Rs. 271 crores while its customer size has swallon to 13.86 crores.

Capt Amarinder Singh claims US giant GE offers to set up gas power plant in Punjab

CHANDIGARH: Encouraged by the positivity in the state’s environment following the installation of the Congress government, U.S. based multinational General Electric (GE) has offered to set up a 2400 MW Gas based power plant in Punjab, delivering power to consumers at Rs. 4.81 per unit only.

Cab aggregator Ola raises $1.1 bn from venture funds

Leading cab aggregator Ola on Wednesday said it raised $1.1 billion (Rs.7,150 crore) in latest funding round from venture firms led by Tencent Holdings Ltd, a leading Chinese internet firm.

Basic and drastic reforms required in GST rather than now announced gimmick ones

By Madhu Agrawal
It is beyond understanding how going back in reverse direction by providing big reliefs for buyers of artificial and real jewelry in Goods and Service Tax (GST) will help normal members of public and traders who cannot in general afford purchase of jewelry. Even artificial jewelry is luxury item which never required tax-cut. Raising limit of non-requirement of PAN number from rupees 50000 to 200000 will make investment of black money in jewelry convenient.  

BJP Government announces GST sops under public pressure but too little

NEW DELHI: Facing severe criticism over the implementation of Goods and Services Tax, the government on Friday night announced a slew of measures to ease the concerns of traders, exporters and small business while slashing the rates on 27 items of common consumption, including roti, khakra, namkeens, stationery, man-made yarn -- with most of them brought to five per cent category.

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