The synthetic sector is struggling due to factors such as high price, higher cost of manufacturing on account of high input prices and competition from China, South Korea, Indonesia and Thailand.
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GST Impact: ‘Centre should provide spur to MSME sector’
The Centre has to provide an incentive along the lines of Modvat credit to mitigate the adverse impact of the Goods and Services Tax on micro and tiny manufacturing units, say representatives in the MSME sector. Micro and tiny industrial units with turnover of less than Rs 20 lakh, are exempted u…
GST to simplify trade & boost GDP growth: Narayana Murthy
Infosys founder N R Narayana Murthy believes the goods and services tax (GST) will simplify trade, boost the economy, and generate jobs. While the GST Network might encounter a few teething problems, that was part of any large implementation, he said in an interview. Q: Do you think implementatio…
GST impact on corporates & MSMEs: 8 key factors they need to focus on
With GST ringing in, the government has been true to its promise of introducing GST on July 1. With the promise being completed, it is now up to assessees to reap the benefits. Though there may still be fears in the business community—big and small alike. Nonetheless, assessees will now need to c…
IndiaFilings launches cloud-based GST accounting software for SMEs
IndiaFilings, India’s largest online business services platform announced the launch of LEDGERS, a Goods and Services Tax (GST) accounting software specially designed for SMEs. IndiaFilings.com receives over a million visitors each month. The company has a team of over 300 employees at five…
GST Impact: India’s small businesses struggle with tax revolution
The government has vowed that the goods and services tax (GST) will transform the economy by bringing more businesses into the digital system and filling state coffers, but for shopkeeper Sanjay Kumar Rai, who has never used a computer, the transition is terrifying. Rai is one of hundreds of thou…
GST implementation brings textile industry to a standstill
“There are about 25 per cent of dealers who do not pay tax at all,” said Suresh Chhatwani, owner of Mumbai-based, Surkan
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Centre to support innovators in all stages to nurture budding entrepreneurs
The Central government has broadbased the ‘Start up India, Stand up India’ initiative to encourage innovative ideas by people of various cross-sections, irrespective of their educational background, Union Minister of Science and Technology and Earth Sciences Harsh Vardhan said. Inaugurating …
‘Govt won’t pull down prices, companies to pass on GST gains to consumers’
The government does not intend to use the “hammer” immediately to pull down prices, leaving it to market forces to guide companies to pass on the benefits of goods and services tax (GST) to consumers. “Competition will force them to fall in line. You don’t have to use the …
Why Indian start-ups are looking abroad
When Avijit Sarkar was planning to set up a fintech start-up last year, he wanted to do it in the US, so that he would have access to a larger market. But, he soon realised that the incorporation expenses were high, and getting a visa could be difficult. He came across Estonia’s startup pro…