The Cabinet has given its nod to a Bill that will give the government the right to impose VAT on Petrol and Diesel on percentage basis or per litre basis. That will insulate the VAT revenue from fluctuations in price of fuels and ensure fixed revenue. Presently, the tax is imposed on percentage b…
OfBusiness racks up $5m series A round
OfBusiness, a three-month-old online marketplace for business-to-business (B2B) commerce, has raised $5 million in its first round of funding led by Matrix Partners India. The fund-raising comes at a time when the size of series A cheques is shrinking after the highs of last year. Ola’s Co-…
Vodafone business services bet big on SMEs in Punjab
Reiterating its commitment to the Governments vision of Digital India and Make in India, Vodafone Business Services (VBS), the enterprise arm of Vodafone India, unveiled its growth strategy to double its Channel partners and target of the Small & Medium Business segment (SME) in India and spe…
Plea to expedite release of incentives to MSMEs
B.V. Rama Rao, Chairman, Micro, Small and Medium Enterprises Development Corporation of India (MSMEDCI) said that the State governments have not been releasing promised incentives within the stipulated time to the MSMEs. Rao said that though the State governments offer various kinds of incentives…
India facility management market is expected to reach USD 17 billion by 2020 | Ken Research
Ken Research announced its latest publication on “India Facility Management Market Forecast to FY’2020 – Driven by Rapid Growth of Commercial Spaces and Advent of Smart Cities” which provides a comprehensive analysis of the facility management services in India. The report covers various as…
Start-up backed by Flipkart founders, Tiger Global unveils electric scooter
Ather Energy, Bengaluru-based automotive start-up backed by Flipkart founders and Tiger Global, unveiled its first smart electric scooter S340 on February 23. The price of the scooter is yet to be decided and it will be available only through Ather’s website by the end of this year. The S340 has…
L&T looks to build digital bridge to the Startup Land
L&T Infotech, the IT unit of engineering conglomerate Larsen & Toubro, plans to seek board approval to invest in technology startups that the IPO-bound firm hopes will help boost its digital offerings. “We want to partner with startups and give them a platform,” Chief Executive Sanj…
Birla Sun Life solution for SMEs
The Birla Sun Life insurance company has created a solution for doctors as well to help them have protection and offered protection counselling to look at their needs. Similarly, a wealth-creation solution was designed for SME employees. In the innovation lab, Birla Sun Life also takes help from …
Start-ups up to Rs 25 Cr turnover to get tax sops
A company with an annual turnover of less than Rs 25 crore in the first five years will be eligible for conditional tax breaks and other incentives under the government’s start-up policy. According to the definition notified by the department of industrial policy and promotion (DIPP), an entity …
Gujarat Budget gives Rs 5,000 Cr subsidies
Gujarat government which has allocated Rs 5000 crore worth of subsidies in this year’s state budget has apportioned Rs 596 crore to revive the ailing MSME units in the state For the ailing MSME sector, a provision of Rs 596 crore has been made, the budget presented to Gujarat finance Minister, Sa…