Small businesses would want their employees to flaunt their logos, as much as large corporates do. However, getting employees to become brand ambassadors, is often challenging for start-ups and small businesses. Managing a brand merchandise program, which entails sourcing products, customization,…
Diamond traders fear the rough edge of GST
India’s diamond industry fears that the Goods and Services Tax on each level of the supply chain will starve firms of cash for daily operations, crippling businesses in the $20 billion export-driven sector. “We work on thin margins and the working capital requirement is high given the cost of dia…
State govt moots new PSU to support MSMEs in Andhra Pradesh
In a move to consolidate the footprint in micro, small and medium enterprises sector, the state government has decided to set up an exclusive corporation. Stating that focus on MSME sector is going to realise more employment opportunities, Industries Minister N Amaranath Reddy said that they will…
Govt to go soft on GST monitoring for a few months, let traders settle down
There will be some leniency in monitoring and implementation of the new goods and services tax in initial months to allow businesses to settle into the new tax regime, a review of GST preparations by a group of senior ministers was told. The discussions held on June 14 saw the ministers being giv…
Cattle slaughter crackdown ripples through India’s leather industry
In the backstreets of Agra’s Muslim quarter, where shoes have been made for centuries, small-scale manufacturers are firing workers and families cutting back on spending as a government crackdown on cattle slaughter ripples through the community. Authorities in India’s most populous s…
Telangana ready to roll-out GST from July 1: Official
Telangana is ready to roll out the GST from July one from technology and preparedness perspective, according to a key government official. “We are ready. We have not asked for any postponement (of the launch date)”, Revenue Secretary Somesh Kumar told . “As far as technology and…
Ahead of GST rollout, producers & traders feel taxed
Recently, pharmacists in many cities sent out mailers to some of their regular clients, especially senior citizens. Stock up on your essential drugs, the customers were told. The ‘advisory’ was not triggered by any trouble at the manufacturing end, but by apprehensions arising from the July 1 rol…
Want job work on apparels also be brought under 5% GST rate: TEA
With almost all textile bodies hailing the GST rate for the industry, Tirupur Exporters Association has requested further reduction in the ‘job work on apparels’ sector. Thanking the GST Council for timely intervention for reduction of GST rate for job work in textiles, TEA President …
Lending start-up MoneyTap raises $9m from Sequoia, others
Consumer lending start-up MoneyTap has raised $9 million in a funding round led by Sequoia India. Existing investors NEA and Prime Venture Partners also participated in the round. Founded in 2015 by Bala Parthasarathy, Anuj Kacker and Kunal Varma, the platform provides credit to salaried employee…
Readying for GST: A peek inside frantic preparations for the massive revamp
India will adopt its most comprehensive indirect tax reform—the goods and services tax (GST)—on July 1. As the deadline draws closer, there is a mad rush to get ready for a revamp which most find too complex and tedious. From the government to small businesses, all stakeholders are anxious for a …