Reliance Corporate Advisory Services, an arm of Reliance Capital, on July 3, said that it has made an investment of about Rs 7 crore ($1 million) in alternative digital lending start-up Billionloans Financial Services Pvt Ltd. This is the second major start-up investment, after Paytm, by Reliance…
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CITI demands govt to pull down GST levy to 12% on manmade fibres from existing 18%
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…
#TextilesIndia2017: 65 domestic & international MoUs inked in a major boost to textiles sector
In a move to develop and promote the textiles industry of India, a total of 65 MoUs were signed as part of the Textiles India 2017 Summit between various domestic and international organisations in the presence of Union Textiles Minister Smriti Irani and MoS Ajay Tamta. The signed MoUs include th…
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…
KVIC signs MoU with NIFT for grass-root level tech support
Khadi and Village Industries Commission (KVIC) has signed a Memorandum of Understanding with National Institute of Fashion Technology (NIFT) for design development and training to bring in quality control in fabric and ready-mades. The MoU was inked in the august presence of Union Minister of Tex…
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 …