The Goods and Services Tax (GST) has been one of the key things that has caught the attention of the market given its implications on earnings of companies. The government has kept a large number of items under 18% tax slab. The government categorised 1211 items under various tax slabs. Here is a…
Tag: ATM
Budget2017: Online payments may get cheaper with tax rebates in offing
Payments through digital channels including internet banking, debit card and credit card are likely to become cheaper. The Union Budget, which will be presented on February 1, is likely to announce tax rebates on such transactions. Currently, payments ranging from restaurant bills to booking a ai…
Lesson from Demonetisation: Getting into new tax regime without tech preparedness might be counterproductive for GST
The large-scale withdrawal of currency notes from circulation in India has implications for the impending GST to be adopted by the country. There are concerns over whether the expected contraction in economic activity following demonetisation will impact state revenues adversely. As the Finance M…
SMEs to benefit in long term with digitisation: Federal Bank
RBI’s move to absorb excess liquidity by ordering the banks to temporarily place their cash deposits in the CRR window has led to a dip for Indian bonds and banking stocks on November 28. Going forward there will be good availability of liquidity and digitisation of the banking sector will …
Paytm rolls back small business app on security concerns
Mobile wallet company Paytm has suspended its app that allowed small shopkeepers to accept payment through cards amid ongoing cash crunch, citing risks to customer data and privacy. The new feature was designed to eliminate the need for a physical point-of-sale (PoS) terminal or a card swipe mach…
Currency Switch Impact | Exporters seeking higher cash withdrawal limit says Nirmala Sitharaman
Worried over the impact of demonetisation of high-value notes on production chain, Commerce Minister Nirmala Sitharaman assured exporters that she would take up their demand of increasing the cash withdrawal limit with the Finance Minister. The issue was raised by export promotion councils during…
Currency Ban Impact | RBI issues 25-point FAQ explaining Rs 500-1000 note move
Faqs on withdrawal of legal tender character of the Old High Denomination (OHD) Bank notes. Q: Why is this scheme? A: The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security featu…
Govt to provide all support to gems & jewellery sector: Nirmala Sitharaman
The government will extend full support to the gems and jewellery exports as it is recording healthy growth at a time when outbound shipments are facing challenges, Commerce and Industry Minister Nirmala Sitharaman said on October 20. India has made a big difference in gems and jewellery trade at…
Shivalik Bank looks at Rs 5,000 cr turnover by 2020
The Uttar Pradesh-based urban co-operative lender Shivalik Mercantile Co-operative Bank is eyeing a business turnover of Rs 5,000 crore by 2020, the chief of the bank said. “In the current fiscal, we are eyeing a business turnover of Rs 1,700 crore as against Rs 1,400 crore in the previous …
There’s room for small entrepreneurs to get interest-free credit | MUDRA Chief
If micro-enterprise owners such as vegetable/fruit vendors and small food stall owners play their cards right, it may be possible for them to get interest-free credit from banks under the Pradhan Mantri Mudra Yojana. Once more ATMs with cash-deposit facility and standalone cash-deposit machines a…