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From January 1, a uniform goods and services tax of 12% will be imposed on man-made fibre and readymade garments even as the textile industry is worried that it will increase prices, hurt demand and cause job losses. In this light, the Confederation of All India Traders (CAIT) has declared a one day strike. In […]
The New Year will begin with more burden on the pocket. Two days from now, withdrawing money from ATMs, buying cars, clothes and footwear will become expensive. The Reserve Bank of India has allowed increase in charges on cash withdrawals after free transactions. According to the RBI, after a free transaction, the bank will be […]
The stock market ended marginally lower on Thursday. The market witnessed 1979 shares ending in green and 1309 shares which declined. The market closed at 57,806.49 down 0.16 percent. The NSE closed at 17,213.60 down 0.11 percent. Top Gainers were: No Company Name Gains(in %) 1 Paramone Concepts 20.00 2 Cybertech System 20.00 3 VMV Holidays Ltd. 20.00 4 Nureca […]
Gujarat has taken the third highest borrowing under the Emergency Credit Line Guarantee Scheme (ECLGS) after Tamil Nadu and Maharashtra – suggests the latest report of the state level bankers’ committee (SLBC). Considering the greater financial requirements to meet working capital needs of micro, small and medium enterprises, Gujarat has borrowed Rs 20,862 crore under […]
On The birth anniversary of Dhirubhai Ambani, India’s richest man and the Chaiman and Managing Director of Reliance Industries Limited Mukesh Ambani has dropped hints of giving more responsibilities to the new generations. An iconic entrepreneur Dhirubhai started Reliance from very humble beginning to make it one of India’s most successful business empires during his […]
Market watchdog SEBI on Tuesday announced a slew of changes to tighten norms for the utilization of IPO proceeds. Key Changes: Introduction of special situation funds to invest only in stressed assets was among the many changes proposed by the SEBI board. They also made amendments to various regulations like on proceedings of settlements and […]
Market continued it’s positive run on Tuesday as Sensex gained 477 points.The market witnessed gains in technology and auto shares. All sectoral indices ended on a positive note. The BSE closed at 57,897.48 points after gaining 0.83% and NSE closed at 17,233.25 after gaining 0.86% ICICI Direct said that the market is in the middle […]
Acting on multiple complaints filed by state consumers, the Department of Weights and Measures and Consumer Protection, Gujarat, has fined retail giants a penalty of Rs 25 lakhs each. The companies have been charged with fraudulent acts that are in gross violation of consumer order, as based on product catalogue/photo and/or delivery assurance. The 60 […]
Laghu Udhyog Bharati, an all India organization of the micro and small scale industries, has urged the Union Finance Minister, Nirmala Sitharaman to restore the goods and service tax (GST) rate of 5% on textile fabrics. In a letter to the Union Finance Minister, Laghu Udhyog Bharati stated that the notification has been issued with […]
Business tycoon Gautam Adani-led Adani Group is all set to start coal exports from their Carmichael mine in Australia’s Galilee Basin. It is the first coal mine in Queensland’s Galilee Basin with huge untapped coal reserves. Adani Group bought this mine in 2011 for $2 Billion. “The first shipment of high-quality coal from the Carmichael […]
From January 1, get ready to shell out more after booking a cab, buying denim of your favourite brand or even footwear irrespective of the price as the GST Council has decided to increase the GST rates in some cases and in some have introduced new measures. What is more interesting, if you call an auto-rickshaw […]
Amid rising cases of Covid variant Omicron, Sensex on Monday staged 877 points rebound and ended 295 points up, after factoring in the low mortality rate of the new variant. The market witnessed gains in Pharma, IT, finance, and realty sectors. The BSE closed at 57,420.24 points after gaining 0.52% and NSE closed at 17,086.25 […]
The Sensex and Nifty soared at their volatile best post unlock. However, the steam is now cooling down and with fears of an Omicron-pushed downward curve, investments are being re-thought. Governments across the globe are fighting the Corona on the apparent level while aggressively combatting another economic disaster on the far-reaching inherent level. Rahul Jain, […]
If you are a club member then here’s something you should take note of. Associations and club members will have to levy Goods and Services Tax (GST) on fees collected from members retrospectively from July 1, 2017. The Finance Ministry has notified January 1 as the date for implementation of the amended Section 7 of […]
Billionaire business tycoon Gautam Adani and Total of France’s joint venture- Adani Total Gas Ltd and State-owned Indian Oil Corporation (IOC) have bid for the maximum number of licenses to provide piped cooking gas to households and retail CNG to automobiles. Tenders were floated by the Petroleum and Natural Gas Regulatory Board (PNGRB) for 65 […]
As a part of Vibrant Gujarat Global Investors Summit 2021, a pre-summit with a focus on the Textile sector-‘Weaving Growth For Textiles’ will be held on December 29 in Surat. Chief Minister of Gujarat Bhupendra Patel will inaugurate the seminar. A day-long summit will see deliberations on how to provide further impetus to the textiles […]
After three days of rally and around 1500 points gains, the market on Friday tumbled 191 points. The BSE closed at 57,124 points down 0.33 percent and NSE closed at 17,003 down 0.40 percent. The top five gainers were: No Company Name Change (in %) 1 Data Patterns (India) 29.03 2 Nikhil Adhesives 20.00 3 […]
Indian e-commerce giant Amazon India has taken the Enforcement Directorate to the Delhi High Court over an inquiry conducted by the latter regarding the Future Group deal of 2019. With their petition Amazon is seeking a relief from the probe by the ED which they allege is going beyond the scope and power of the […]
After recovering 1100 points in the last two days, the market gained 385 points on Thursday. The BSE closed at 57,315.28 up 0.68 percent and NSE closed at 17,072.60 up 117.15 points. Medplus Health Services Ltd had a stellar listing, the stock closed 40.81 percent up from its listed price of Rs 796 to Rs […]
The Government has empowered GST officials to recover Goods and Services tax without issuing a notice. This power has been given to the GST officials through a gazette notification and the provisions will come into effect from January 1,2021. According to the new amendments, if invoice details and outward supply liability don’t match, GST officials need not […]
