India could consider a significant shift in the Goods and Services Tax (GST) including a jurisdiction-free regime as part of the next set of reforms for the five-year-old indirect tax system. New Delhi, which raised the import duty on gold recently, is not looking at any further administrative measures immediately to clamp down imports. “The… Continue reading GST 2.0 may be free of jurisdiction: Vivek Johri, chairman, CBIC
Author: Economic Times of India Online News
Former Niti Aayog CEO Amitabh Kant is India’s new G20 Sherpa
India will take over G20 presidency from Indonesia on December 2. Former Niti Aayog CEO Amitabh Kant has been appointed as the new G20 Sherpa as India takes over the G20 presidency later this year. He replaces Union minister Piyush Goyal. Kant was Niti Aayog CEO for almost six years, completing his extended term last… Continue reading Former Niti Aayog CEO Amitabh Kant is India’s new G20 Sherpa
Schumer plans classified briefing for U.S. senators on chips, technology
Senate Democratic Leader Chuck Schumer has scheduled an all-senators classified briefing on the global innovation and technology race and a proposed bill to boost U.S. semiconductor manufacturing, his office said on Thursday. Senate Republican Leader Mitch McConnell threatened last week to try to block the bill that would provide $52 billion to subsidize U.S. semiconductor… Continue reading Schumer plans classified briefing for U.S. senators on chips, technology
Vulcan Energy partners with Enel Green to develop Italian lithium project
Vulcan Energy Resources Ltd signed a binding agreement with Enel Green Power, the renewable energy unit of Italian electricity manufacturer Enel SpA , on Friday to jointly develop Vulcan’s Cesano license near Rome. Under the agreement, 50% of the area under Vulcan’s Cesano permit, which has the potential for development of lithium battery chemicals, will… Continue reading Vulcan Energy partners with Enel Green to develop Italian lithium project
M&M raises Rs 1925 cr in a proposed EV subsidiary from BII at a valuation of Rs 70,070 cr
With a plan to invest over $1 billion in electric vehicle ambition, Mahindra & Mahindra on Thursday raised, Rs 1,925 crores / USD 250 million at a valuation of up to Rs. 70,070 crores / USD 9.1 billion from British International Investment into a new 4 Wheel Passenger Electric Vehicle Co. to be set up… Continue reading M&M raises Rs 1925 cr in a proposed EV subsidiary from BII at a valuation of Rs 70,070 cr
Road-based logistics sector may see 7-9% rise in revenue this fiscal: Report
The road-based logistics sector is expected to grow 7-9 per cent this fiscal on favourable demand but margins may be under pressure due to higher fuel cost, says a report. However, operators’ debt coverage metrics are expected to marginally weaken in FY23 from FY22 levels. This will be largely due to the debt-funded vehicle replacement… Continue reading Road-based logistics sector may see 7-9% rise in revenue this fiscal: Report
FM asks Niti Aayog to map all industrial activities for incorporating them into PM Gati Shakti
Union Finance Minister Nirmala Sitharaman Finance Minister Nirmala Sitharaman on Thursday asked the Niti Aayog to prepare a report mapping all the industrial activities such as corridors, logistics parks and pharma hubs so that they can be incorporated under the PM Gati Shakti initiative of the government. She also suggested to the shipping ministry to… Continue reading FM asks Niti Aayog to map all industrial activities for incorporating them into PM Gati Shakti
Tata Power issues clarification, says no officials of company involved in bribery case
Representative Image Tata Power on Thursday issued a clarification saying no officials of Tata Power are involved in the alleged bribery case involving Power Grid Corporation of India. Tata Power spokesperson in a tweet said, “Tata Power clarifies that no officials of Tata Power are involved in the alleged bribery case involving Power Grid Corporation… Continue reading Tata Power issues clarification, says no officials of company involved in bribery case
Startup funding in India plummeted by 33% to $6.9 billion in Q2: Report
Venture funding for the Indian startup ecosystem plummeted by a staggering 33% to $6.9 billion in the April-June quarter (Q2) from $10.3 billion in the first quarter (Q1) of this calendar year, according to a report from Tracxn Technologies. According to the data intelligence platform’s report, 121 new firms completed their first funding rounds in… Continue reading Startup funding in India plummeted by 33% to $6.9 billion in Q2: Report
Firms with over Rs 5 cr annual turnover will soon have to generate GST e-invoices for B2B transactions: Official
GST-registered businesses with annual turnover of more than Rs 5 crore will soon have to generate electronic invoices for B2B transactions, a top official said on Thursday. Central Board of Indirect Taxes and Customs (CBIC) Chairman Vivek Johri said the GST Council, comprising finance ministers of the Centre and states, had decided to implement it… Continue reading Firms with over Rs 5 cr annual turnover will soon have to generate GST e-invoices for B2B transactions: Official