With a global focus on providing more support to small and medium scale enterprises (SMEs) – and recognizing that start-ups play a crucial role in creating jobs, growth, exports and innovation within most economies – Asian countries are keen to learn from each other’s experience…
News
81% items to be taxed below 18% rate under GST: Govt
The Goods and Services Council on May 18 finalised tax rates for 1,211 items with a majority of items being kept at under 18 per cent rates. “GST Council today approved 7 GST rules in a meeting held in Srinagar, while legal committee is looking at remaining 2 GST rules ( return, transition …
GST Council meeting Day 2: Tax rates of services, gold, biscuits, footwear to be decided today
Srinagar: The Goods and Services Tax Council will on May 19 take up the crucial issue of taxation of services as also precious metals such as gold. The council will also decide on taxation of biscuits, footwear, packaged cereals such as basmati. The centre had proposed a rate of 4 per cent on hol…
Assocham urges Punjab government to announce comprehensive industrial policy for SME
Chandigarh: Apex industry body Assocham has mooted a proposal to the newly elected Government of Punjab for announcement of comprehensive industrial policy for the small medium enterprise (SMEs) and value addition to agri products. Assocham and Thought Arbitrage Research Institute (TARI) releas…
Every Assembly segment in Andhra to have MSME parks: N Amaranatha Reddy
Visakhapatnam: The state government is mulling over developing MSME (micro, small and medium enterprises) parks in every Assembly constituency in order to widen the scope of providing employment to the youth of the state, said Minister for Industries and Commerce N Amaranatha Reddy. Talking to th…
Khadi industry plans to employ 5 cr people in 5 years: Giriraj Singh
The Ministry of Micro, Small and Medium Enterprises (MSMEs) has a target to employ around five crore people through the Khadi industry over the next five years, Union Minister Giriraj Singh has said. “We have made a plan to introduce solar-run spinning wheels in KVIC (Khadi and Village Indu…
GST Council finalises tax rates on 80-90% goods & services; Keeps essential items in lowest bracket
The GST Council on May 18 finalised tax rates on 80-90 per cent of goods and services under the four-slab structure with essential items of daily use being kept in the lowest bracket of 5 per cent. The Council, headed by Union Finance Minister Arun Jaitley and comprising representatives of all st…
Traders demand a trial period of nine months under GST
Traders body CAIT has demanded that the first nine months of GST implementation in the current fiscal should be treated as a trial period and no penal action should be levied against traders except for habitual offenders. The Confederation of All India Traders (CAIT) has asked Finance Minister Ar…
Xiaomi to back start-ups that enhance mobile experience: VP Manu Jain
Chinese smartphone maker Xiaomi Inc., the world’s second-most valuable start-up, made its first publicly-disclosed investment in India in April of 2017. It led a $25 million round in online entertainment company Hungama Digital Media Entertainment as part of its strategy to introduce local conten…
Starting a new business? Make sure you have these legal paperwork before getting investors on-board
The new wave of Indian enterprise has taken the country’s young blood by storm. The government has created a vibrant entrepreneurial ecosystem, thanks to Startup India, and now anybody can dream of owning a business. However, in recent times, we have seen some start-ups had to shut their do…