Disruptive tech like Blockchain is here to stay, law will have to simply catch up

With the recent spate of cyber attacks Wannacry and Petya, the topic of blockchains and bitcoins have once again gained interest as possible mechanism for information insulation. Blockchain is a distributed ledger that records historical transactions of any asset or currency.

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via Disruptive tech like Blockchain is here to stay, law will have to simply catch up

Got weekend plans? You need to go through this GST checklist before that

The short-term impact of GST is expected to be neutral-tonegative for the broader economy. Production processes are likely to take some time to align with the new framework as firms adjust to the input tax credit system and better manage working capital requirements.

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via Got weekend plans? You need to go through this GST checklist before that

GST: PMO calls for all-out effort on part of Centre to ensure smooth transition

NEW DELHI: The government as well as the ruling BJP have drawn lessons from the widespread criticism that came their way during the demonetisation drive in November and will make all efforts to ensure the implementation of goods and services tax is a smooth affair.

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via GST: PMO calls for all-out effort on part of Centre to ensure smooth transition

Will we be better off now with GST? Depends on what the effective rate will be in your state

India made the biggest tax system reform in its history when it transitioned to the goods and service tax (GST) regime on Friday night. This is not only a change in the tax system, but this will also usher a big change in the federal system in the country.

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via Will we be better off now with GST? Depends on what the effective rate will be in your state

GST credit cannot be appropriated by any one person, party, state: Arvind Subramanian

In an exclusive interview with ET Now’s Supriya Shrinate, Arvind Subramanian , Chief Economic Adviser, says the growth impact will be substantial and can become even bigger once we address all things that have been identified. GST is here.

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via GST credit cannot be appropriated by any one person, party, state: Arvind Subramanian

Education & networking highlight busy year for WCMA

I am happy to report that the Wood Component Manufacturers Association has had another busy year. Attendance at September’s Fall Conference and Plant Tour event in South Bend, Indiana, was the best in several years.

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via Education & networking highlight busy year for WCMA

WCMA sets dates for wood components conference, plant tours

The WCMA conducts a Fall Conference & Plant Tour Event each year.  This is an excellent opportunity for WCMA members and non-members to network and have open discussion on common concerns.

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via WCMA sets dates for wood components conference, plant tours

India, say hello to GST! Biggest-ever tax reform comes into effect

With a gong sound at midnight in Parliament’s Central Hall, India switched to GST, the single biggest tax reform undertaken by the country in 70 years of independence. Launching GST, President Pranab Mukherjee said it is a momentous event for the nation.

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via India, say hello to GST! Biggest-ever tax reform comes into effect

With GST, India takes a leap towards 'one nation one tax'

NEW DELHI: The midnight launch of the Goods and Services Tax (GST), the biggest tax reform since independence, catapults India into a select league of nations that have a national sales tax.

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via With GST, India takes a leap towards 'one nation one tax'

Modi calls GST Good and Simple tax: 11 things prime minister said about India's landmark tax

In the making since 2000, the Goods and Services Tax (GST) got a big endorsement from Prime Minister Narendra Modi, who called it India's biggest move since Independence.

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via Modi calls GST Good and Simple tax: 11 things prime minister said about India's landmark tax

Working with Oil Varnish

Originally, the word “varnish” meant a mixture of natural resin and drying oil. Today’s oil varnishes usually contain synthetic resin, but like their ancestors, they’re durable, beautiful and easy to apply.

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via Working with Oil Varnish

Next 8-10 days, buy good stocks on dips: Yogesh Mehta, Motilal Oswal Securities

What is the outlook on the consumption space on the back of GST as well as the overall monsoon trigger? This would be the main thematic trigger for July month. GST will be rolling out tomorrow and as for the FMCG sector per se and ITC in particular, we are looking at them.

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via Next 8-10 days, buy good stocks on dips: Yogesh Mehta, Motilal Oswal Securities

Tata Steel starts 'Doors of India' campaign in West Bengal

KOLKATA: Tata Steel has kicked off the 'Doors of India' campaign under the brand 'Pravesh' in the state. The campaign was launched nationwide four-and-a-half-month back with twelve members of the Tata Steel family participating in the journey along with the company's distributors and sales force.

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via Tata Steel starts 'Doors of India' campaign in West Bengal

Nifty will rise 500 pts before falling 1000 pts: Rakesh Jhunjhunwala

Long live consumption I would say. By 2030, if we do get to 100000 and I am sure you will be hale and hearty. Does Rakesh Jhunjhunwala the investor, ever think that if we do do so well, I will be in all cash, does that ever occur to you? One day yes, when?

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via Nifty will rise 500 pts before falling 1000 pts: Rakesh Jhunjhunwala

Government likely to lower fertiliser GST from 12 per cent

NEW DELHI: The government is likely to reduce the GST rate on fertilisers from 12 per cent to ensure that their prices do not rise and farmers' interests are protected.

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via Government likely to lower fertiliser GST from 12 per cent

JSW Steel posts record steel output in 2016-17

NEW DELHI: Sajjan Jindal-led JSW Steel has recorded its highest-ever crude steel production at 15.80 mt during 2016-17, surpassing earlier guidance. This is 25 per cent more than what the company produced in 2015-16.

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via JSW Steel posts record steel output in 2016-17

GST should have come earlier; post 2019-20, we are poised for double digit growth: Rakesh Jhunjhunwala

In an exclusive interview with Tanvir Gill & Ayesha Faridi, Rakesh Jhunjhunwala, Partner, Rare Enterprises, says ant-profiteering clause is of little use. If there are five manufacturers and two pass on the tax benefit, the other three will also have to pass it on.

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via GST should have come earlier; post 2019-20, we are poised for double digit growth: Rakesh Jhunjhunwala

Time of Sports raises seed funding

BENGALURU: Time of Sports, a company specialising in sports consultancy services, has raised an undisclosed amount of funding from Sandeep Arya, Managing Director of Amtrak Technologies Pvt Ltd.

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via Time of Sports raises seed funding

Ready for GST? Here are changes that can stump you right after midnight

At midnight on June 30, Prime Minister Narendra Modi will formally usher in the country’s new Goods and Services Tax (GST). First proposed in 2006, the GST will subsume more than a dozen state and central levies into one tax, unifying this country of 29 diverse states and 1.

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via Ready for GST? Here are changes that can stump you right after midnight

It'd be good even if 3-4% of gas comes into the purview of GST: Abhishek Somany, Somany Ceramics

In an interview to ET Now, Abhishek Somany of Somany Ceramics discusses the anti-dumping duty on morbi producers and the market share of his company compared to the unorganised players in the sector. Edited Excerpts:

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via It'd be good even if 3-4% of gas comes into the purview of GST: Abhishek Somany, Somany Ceramics

Uber completes over 5 billion trips

SAN FRANCISCO: Ride-hailing app Uber announced it has completed over 5 billion trips. "On May 20, 156 trips started simultaneously at 7.29.06 a.m., putting us over the 5 billion mark," the company said in statement.

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via Uber completes over 5 billion trips

We are fully prepared for the GST roll-out: Madhavan Menon, Chairman & MD, Thomas Cook

Madhavan Menon, Thomas Cook's MD discusses with ET Now the impacts of GST on the travel sector and the company's overseas market scenario. Edited Excerpts: I want to start off by talking about GST.

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via We are fully prepared for the GST roll-out: Madhavan Menon, Chairman & MD, Thomas Cook

Auto and Tractor industries won't face any inflation: Pawan Goenka, MD, M&M

On the eve of GST roll-out, Mahindra & Mahindra Group's MD, Pawan Goenka, in an interview to ET Now, talks about the impact the uniform tax regime would have on India's monetary policies for the next few years and the scale of inflation that might follow post implementation. Edited Excerpts:

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via Auto and Tractor industries won't face any inflation: Pawan Goenka, MD, M&M

GST or not, don’t worry till Nifty cracks 8,900: Pankaj Pandey, ICICI Direct

In a chat with ET Now, Pankaj Pandey , HoR, ICICIdirect.com , says the decline that we are seeing across caps should be used as an opportunity to buy. A word on the overall market sentiment as we are done with the new series right now.

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via GST or not, don’t worry till Nifty cracks 8,900: Pankaj Pandey, ICICI Direct

Tanishq will not increase making charges post GST: Bhaskar Bhat, MD, Titan

In an interview to ET Now, Bhaskar Bhat, MD, Titan Group, discusses about post GST price changes in the jewellery sector and the input tax credit rates on jewellery making charges. Edited Excerpts: As a customer of Tanishq and I am sure a lot of viewers here are with me.

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via Tanishq will not increase making charges post GST: Bhaskar Bhat, MD, Titan

Small businesses always survived because they've a sense of enterprise: Vallabh Bhanshali, Enam Group

Talking to ET Now, Enam Group 's Chairman, Vallabh Bhanshali describes how GST will have a difficult transitional impact on the markets and traders as well as provide new opportunities in the investment arena.

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via Small businesses always survived because they've a sense of enterprise: Vallabh Bhanshali, Enam Group

JSW Steel sets sights on acquisitions in US

MUMBAI: Sajjan Jindal's JSW Steel is eyeing acquisition of steel-making assets in the United States, spurred by its US based steel mill's improved financial performance after US President Donald Trump's Make in America policy brought smokestack businesses back into the reckoning.

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via JSW Steel sets sights on acquisitions in US

Uber, Ola slash driver sops by 40% in March quarter

BENGALURU: Taxi-hailing apps Uber and Ola have reduced driver incentives by as much as 30-40% in the March quarter compared to the preceding one, as the companies sharpen their focus on revenue per ride, according to a report by research firm RedSeer Consulting.

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via Uber, Ola slash driver sops by 40% in March quarter

Finally, Amazon is shipping Prime Day to India on July 10

MUMBAI: In a bid to further boost its Prime subscription services -which account for one in every three customers for Amazon India -the ecommerce giant announced its first Prime Day to be held on July 10, 2017.

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via Finally, Amazon is shipping Prime Day to India on July 10

Plenty of hiccups' expected as India rolls out new tax reform

As India prepares to launch its biggest tax reform since independence in 1947, businesses and citizens across the country are bracing for economic chaos. At midnight on July 1, Prime Minister Narendra Modi will formally usher in the country’s new goods and services tax.

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via Plenty of hiccups' expected as India rolls out new tax reform

Wholesalers, retailers floating new companies to be GST compliant

NEW DELHI | BENGALURU: Several wholesalers and small retailers are now setting up new companies to become compliant under the goods and services tax regime and start on a clean slate after having failed to keep their books clean, four people in the know said.

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via Wholesalers, retailers floating new companies to be GST compliant

Pharma companies to vendors: Be GST-ready to avoid delay in payments

MUMBAI: For Kirtan Shah, a contract manufacturer based at the Vatva industrial estate on the outskirts of Ahmedabad, it is race against time. Shah, a contract manufacturer for Mankind Pharma, was recently told that unless his company is GST compliant, his payments will be impacted.

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via Pharma companies to vendors: Be GST-ready to avoid delay in payments

Anti-profiteering clause may prove to be a temporary measure: Sanjay Mookim, BofA Merrill Lynch

The GST at least can be argued to be good for the country over a two-year period and having had the poor experience of selling in December, I suspect not too many will be eager now to sell any temporary GST bump.

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via Anti-profiteering clause may prove to be a temporary measure: Sanjay Mookim, BofA Merrill Lynch

Companies in the top tax band are going to face disadvantages: Teresa C Barger, Cartica Capital

With the GST now to be practicalized within 24 hours, Teresa C Barger, Senior MD & Co-founder at Cartica Capital, speaks to ET Now about the significance the new tax system would hold for the markets, specially the impact it might leave on market earnings. Edited Excerpts:

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via Companies in the top tax band are going to face disadvantages: Teresa C Barger, Cartica Capital

Challenge for ISRO? This startup readies small rockets for takeoff

Before Elon Musk started SpaceX, he held a series of salons in Los Angeles and Silicon Valley, asking experts in the field for ideas on what a new-age rocket company should look like.

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via Challenge for ISRO? This startup readies small rockets for takeoff

Hope anti-profiteering law won't have to be used: FM Arun Jaitley

NEW DELHI: Finance minister Arun Jaitley has expressed the hope that the government will not have to use the anti-profiteering provision of the goods and services tax (GST) and said prices should drop overall under the new regime to be put in place on July 1.

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via Hope anti-profiteering law won't have to be used: FM Arun Jaitley

GST is a win-win for all: Consumers, businesses and government: Venkaiah Naidu

At the midnight of June 30, India will make a tryst with history by heralding the much-awaited GST regime and turning a new leaf in the annals of the country’s taxation system. The game-changing ‘one nation, one market, one tax’ arrangement is the biggest taxation reform since Independence.

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via GST is a win-win for all: Consumers, businesses and government: Venkaiah Naidu

BFSI, consumer sector may pick up due to macro factors: Shilpa Kumar, ICICI Securities

Falling inflation, declining returns on debt instruments and shift in invest ments from physical gold and real estate to financial instruments have led to equity markets turning buoyant, says Shilpa Kumar , CEO, ICICI Securities .

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via BFSI, consumer sector may pick up due to macro factors: Shilpa Kumar, ICICI Securities

Vijay Shekhar Sharma, others join advisory board of Careers360

Careers360, the edtech platform, has formed an advisory board that comprises of Vijay Shekhar Sharma, CEO, Paytm; Murugavel Janakiraman, managing director, Matrimony com; Pramath Raj Sinha, founding dean of ISB, Hyderabad; and Vijay Aggarwal, managing director, Prism Cement.

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via Vijay Shekhar Sharma, others join advisory board of Careers360

CureFit hires senior executives from Flipkart, Walmart, InMobi

BENGALURU: CureFit, a healthcare startup launched by Myntra founder Mukesh Bansal, has hired a number of senior executives from established companies such as Flipkart, WalmartLabs and InMobi. The latest in the list is Neeraj Aggarwal, former vice-president at Flipkart's logistics arm Ekart.

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via CureFit hires senior executives from Flipkart, Walmart, InMobi

1mg Technologies close to getting $10 million in equity financing round

NEW DELHI: 1mg Technologies, the online healthcare pharmacy carved out of Healthkart, is close to finalising a $10-million equity financing round, which is being led by its existing investors that includes Sequoia Capital and HBM Healthcare Investments.

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via 1mg Technologies close to getting $10 million in equity financing round

We have several greenfield projects in the pipeline: Kumar Mangalam Birla

The Aditya Birla Group closed one of its biggest acquisitions in the past decade, and the biggest restructuring exercise ever undertaken by a lender so far, by clinching the deal to buy Jaiprakash Associates' 21.3-million tonne Jaypee Cement business.

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via We have several greenfield projects in the pipeline: Kumar Mangalam Birla

MRP, expiry dates a must on ecomm products soon

BENGALURU: Ecommerce companies will have to declare online the expiry dates and maximum retail prices of packaged consumer products under new rules meant to protect consumers from being sold old goods.

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via MRP, expiry dates a must on ecomm products soon

Quikr's acquisition of smaller companies account for 55% of its revenues

MUMBAI | BENGALURU: Classifieds portal Quikr's aggressive acquisition of smaller companies over the past two years has started to pay off, with CEO Pranay Chulet saying these businesses now account for 55% of the company's revenues.

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via Quikr's acquisition of smaller companies account for 55% of its revenues

need2know: 9 facts you must know before starting day on D-Street

India will ring in the goods and services tax (GST) at midnight tonight.

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via need2know: 9 facts you must know before starting day on D-Street

Small business owners feel jittery over GST

CHENNAI/HYDERABAD: GST rollout may prove to be a bumpy ride for small businesses in Tamil Nadu, Andhra Pradesh and Telangana, according to multiple businesspeopleETspoke to.

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via Small business owners feel jittery over GST

Fancy Faucets—Installing the Kai

During a recent kitchen remodel, we included the Kai Kitchen Faucet from Pfister with a new countertop/cabinet/backsplash installation. With its modern artistic design, the Kai faucet is the very first of its kind.

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via Fancy Faucets—Installing the Kai

This startup wants to be Flipkart of logistics

The online logistics and freight management industry has seen a raft of entrants over the past 3-4 years as players try to streamline inter-city and intra-city logistics management in India.

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via This startup wants to be Flipkart of logistics

Hyderabad Angels, others back analytics company ZineOne

HYDERABAD: Data analytics startup ZineOne has raised $2.5 million (about Rs 16 crore) in a round led by Hyderabad Angels with participation from New York-based Golden Seeds Angels and a few high net worth individuals (HNIs).

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via Hyderabad Angels, others back analytics company ZineOne

UltraTech completes acquisition of Jaiprakash group cement business

NEW DELHI: UltraTech Cement has completed the Rs 16,189 crore acquisition of Jaiprakash Associates' six integrated cement plants and five grinding units, having a capacity of 21.2 million tonnes.

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via UltraTech completes acquisition of Jaiprakash group cement business

Indian School of Business launches DLabs, to incubate 50 startups this year

HYDERABAD: The Indian School of Business (ISB) launched the facilities for its virtual startup incubation and acceleration arm DLabs on Thursday. It plans to incubate approximately 50 companies during this year.

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via Indian School of Business launches DLabs, to incubate 50 startups this year

BHEL ties up with Kawasaki to make steel metro coaches

NEW DELHI: State-run engineering firm BHEL today said that it has entered into an agreement with Kawasaki Heavy Industries Ltd (KHI), Japan, to produce stainless steel coaches and bogies for metro rail.

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via BHEL ties up with Kawasaki to make steel metro coaches

Roll out of GST will usher in one of the most significant reforms in India: Tata Steel

KOLKATA: Tata Steel has said the roll out of Goods and Services Tax (GST) from July 1, 2017 will usher in one of the most significant reforms in India in recent times, calling it an apt example of co-operative federalism where and state governments have come together to create 'One Country, one tax

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via Roll out of GST will usher in one of the most significant reforms in India: Tata Steel

JSW Steel keen to snap up stressed assets, to create $1 billion war chest

MUMBAI: Leading alloy maker JSW Steel is evaluating stressed steel assets for acquisitions and has secured shareholders approval to create a $1 billion war chest for the same, a top company official said today.

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via JSW Steel keen to snap up stressed assets, to create $1 billion war chest

JSW Steel to set up Rs 2,100 crore pipeline in Karnataka

NEW DELHI: JSW Steel today said its board has approved the plan to set up a Rs 2,100 crore slurry pipeline in Karnataka to transport iron ore and coal for its 12 MT integrated steel plant in the state.

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via JSW Steel to set up Rs 2,100 crore pipeline in Karnataka

BHEL signs pact with Japanese firm for manufacturing coaches for metro trains

NEW DELHI: Bharat Heavy Electricals Ltd (BHEL) has entered into a technology collaboration agreement with Kawasaki Heavy Industries Ltd (KHI) of Japan for manufacturing of stainless steel coaches and bogies for metros.

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via BHEL signs pact with Japanese firm for manufacturing coaches for metro trains

I love fairy tale endings but don’t know if Tatas are in race for Air India: Tony Fernandes, AirAsia

I am sure you are aware that Tata Sons as well are in the race. Perhaps the leader is there to bag a piece of Air India? I will be surprised if you are not aware? The first Air India pilot was JRD Tata and I am sure they would love to have a go with Air India and good luck to them if they do it.

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via I love fairy tale endings but don’t know if Tatas are in race for Air India: Tony Fernandes, AirAsia

Stable macro, GST reforms driving capital flows into India: Gaurav Kapur, IndusInd Bank

Talking to ET Now, Gaurav Kapur , Senior VP & Chief Economist, IndusInd Bank , says the economic fundamentals are fairly supportive of the rupee and impact of that has been visible in the pickup in capital flows since February.

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via Stable macro, GST reforms driving capital flows into India: Gaurav Kapur, IndusInd Bank

JSW Steel to set up a slurry pipeline from coastal Karnataka to Vijayanagar

KOLKATA: JSW Steel's Board of Directors has given an approval to set up a Slurry Pipeline to transport iron ore from coastal Karnataka to the Vijayanagar works at an investment of Rs 2,100 crore.

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via JSW Steel to set up a slurry pipeline from coastal Karnataka to Vijayanagar

Steel ministry to produce electrical steels in India

KOLKATA: The steel ministry is spearheading a Rs 500-crore public-private research and development project for indigenous technology to produce high value cold rolled grain oriented (CRGO), or electrical steels in India.

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via Steel ministry to produce electrical steels in India

GST is about replacing one large mess by a small mess: P. Chidambaram

The wrinkles that you spoke about in the GST, will you not agree with me that they reflect the will of the states who were part of the GST Council, the states who were trying to protect their fiscal turf. In some sense, it is also the will of the Congress Party represented by those states?

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via GST is about replacing one large mess by a small mess: P. Chidambaram

Can GST's anti profiteering rule be deemed unconstitutional?

The government's aim behind bringing the anti profiteering rule was to primarily reign the possibility of inflation after GST rolls out, but the hastily drafted rules have proved to be contentious and may even be unconstitutional.

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via Can GST's anti profiteering rule be deemed unconstitutional?

Air India disinvestment should see good response as airlines industry is booming: Ashok Lavasa

I also want to pick your brain on what is happening in the banking sector. The RBI has come out with revised provisioning norms and that is spooking a lot of banks.

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via Air India disinvestment should see good response as airlines industry is booming: Ashok Lavasa

Money may move to largecaps in next 12-18 months: Sailesh Bhan, Reliance MF

The challenges related to domestic NPA related issues are now coming to some conclusion and these will create possibilities for growth to return.

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via Money may move to largecaps in next 12-18 months: Sailesh Bhan, Reliance MF

India is the second biggest footwear market in the world: Adesh Gupta, CEO, Liberty Shoes

Liberty Shoes' CEO, Adesh Gupta, speaks to ET Now regarding the GST structure for the footwear industry in general and how the sector would change as the market gets more organsied post GST. Edited Excerpts:

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via India is the second biggest footwear market in the world: Adesh Gupta, CEO, Liberty Shoes

GST is the best thing any FMCG company could have asked for: K Ullas Kamath, Joint MD, Jyothy Lab

With just a day to go for the GST roll-out, Jyothy Lab's Joint MD, K Ullas Kamath, in an interview to ET Now, talks about Jyothy's new product basket to come in the markets post GST and his pricing strategies. Edited Excerpts:

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via GST is the best thing any FMCG company could have asked for: K Ullas Kamath, Joint MD, Jyothy Lab

There is a big possibility of finding better structuring solutions: Jairam Sridharan, CFO, Axis Bank

Axis Bank CFO, Jairam Sridharan, in an interview to ET Now, talks about the bank's nature of recovery assets and additional provisioning for the coming quarter. Edited Excerpts:

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via There is a big possibility of finding better structuring solutions: Jairam Sridharan, CFO, Axis Bank

Sargent & Lundy Plays Role in More than $17 Billion in Power Industry Projects

SUGAR LAND--June 27, 2017--Researched by Industrial Info Resources (Sugar Land, Texas)--Sargent & Lundy LLC (Chicago, Illinois) (S&L) is involved in a slew of Power Industry projects in regions across the U.S.

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via Sargent & Lundy Plays Role in More than $17 Billion in Power Industry Projects

ET.com #GSTSimplified: GST has led to first genuine sale of the last three years

The biggest fear of business owners in India is if they will be able to continue their operations without any disruption post the stroke of midnight on July 1.

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via ET.com #GSTSimplified: GST has led to first genuine sale of the last three years

Bullish on 2 sectors but against IT in the long term: Santosh Singh, Haitong Securities

Consumer and auto are the sectors Santosh Singh, BFSI & Head Research, Haitong Securities, says he is betting on post GST in an interview with ET Now. What are the GST beneficiaries right now? What are the sectors and themes that you are betting big on?

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via Bullish on 2 sectors but against IT in the long term: Santosh Singh, Haitong Securities

It's raining pre-GST offers for consumers

NEW DELHI: Shopaholics are on a high. With just 48 hours to go before GST kicks in, retailers across the country -from Big Bazaar to Amazon -are leading a last-minute charge to clear stocks. Consumers are treating it as an opportunity to stock up, as there are discounts galore.

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via It's raining pre-GST offers for consumers

Even kirana shops will find it hard to evade taxes now

NEW DELHI: A leading photo studio in the Delhi's Khan Market, one of the most expensive real estate spaces in the country, will not charge you service tax if you pay cash. If you pay by card, the studio owner will ask for 15% service tax.

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via Even kirana shops will find it hard to evade taxes now

Trouble for realtors taking advance service tax from buyers

MUMBAI: Joydeep Shome, a Mumbai resident who has bought a flat in an under-construction building, recently got a call from the builder asking him to pay an ‘advance service tax’ so that he could avert higher rate under the goods and services tax.

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via Trouble for realtors taking advance service tax from buyers

How GSTN, Infosys and GSPs are trying hard to get IT system up & running ahead of July 1 GST rollout

It's been a long and hot summer for every stakeholder and partner of the Goods and Services Tax Network (GSTN), a private company that is developing and building the IT system that will process up to 3 billion invoices—B2B and B2C—in a month.

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via How GSTN, Infosys and GSPs are trying hard to get IT system up & running ahead of July 1 GST rollout

Good news! Your grocery expenses won't rise after GST rollout

MUMBAI | NEW DELHI: Prices for most groceries, household and personal care products will remain unchanged for at least six to eight weeks after the goods and services tax is put in place on July 1 as companies aren't too sure how the new levy will impact their cost of operations.

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via Good news! Your grocery expenses won't rise after GST rollout

Uber denies telling car executive to take Waymo files

SAN FRANCISCO: Uber Technologies said it never told a self-driving car executive to download files from his former employer, Alphabet Inc's Waymo unit, according to a court filing in a contentious trade secret lawsuit.

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via Uber denies telling car executive to take Waymo files

Arun Jaitley: System geared up for GST from July 1

NEW DELHI: The government has notified the implementation of the central goods and services tax (C-GST) from July 1, making it clear that the roll out of the new indirect tax regime is on course. “I don’t see much of a problem.

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via Arun Jaitley: System geared up for GST from July 1

Thawar Chand Gehlot seeks exemption on GST on goods for disabled

NEW DELHI: With the Goods and Services Tax Council bringing assistive devices and other exempt goods for the differently abled under the tax net from July 1, social justice and empowerment minister Thawar Chand Gehlot is batting for a last-minute exemption.

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via Thawar Chand Gehlot seeks exemption on GST on goods for disabled

Arun Jaitley, Hasmukh Adhia praise Karnataka role in GST

BENGALURU: Finance minister Arun Jaitley and revenue secretary Hasmukh Adhia have praised Karnataka for raising valid points and extending full cooperation on GST despite being an opposition-ruled state.

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via Arun Jaitley, Hasmukh Adhia praise Karnataka role in GST

Two themes to bet on as GST sets in: Abhimanyu Sofat, IIFL

Affordable housing, rural are the themes one should look at entering the GST phase, says Abhimanyu Sofat, VP-Research, IIFL, talking to ET Now. I think so. For GST, you need to be very sector specific in terms of where the challenges are going to be.

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via Two themes to bet on as GST sets in: Abhimanyu Sofat, IIFL

Apparels to be one of the biggest benficiaries of GST: Ajay Srivastava, CEO, Dimensions Consulting

In an interview to ET Now, guests Ajay Srivastava , CEO, Dimensions Consulting and Harsha Upadhyaya , CIO-Equity of Kotak AMC speak about some of the major probable outcomes of the soon to be rolled GST and the sectors to be benefited most by the new tax method. Edited Excerpts:

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via Apparels to be one of the biggest benficiaries of GST: Ajay Srivastava, CEO, Dimensions Consulting

Zeta buys minority stake in ZingHR, plans to expand operations further

MUMBAI: Digital payments and meal vouchers company Zeta has invested Rs 5-10 crore to buy a minority stake in human resources solutions entity ZingHR. Through the investment, Zeta plans to reach out to the employees that ZingHR serves through its corporate clients.

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via Zeta buys minority stake in ZingHR, plans to expand operations further

Jasper's control center 7.0 is Cisco's fix to your IoT blues

LAS VEGAS: Global IT and networking giant Cisco Systems, which acquired Jasper Technologies last year for $1.4 billion, has announced launching a wide-ranging IoT platform, Control Centre 7.0, the first major product since the two firms merged, to help enterprises address key challenges to IoT.

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via Jasper's control center 7.0 is Cisco's fix to your IoT blues

Alibaba to invest $1 billion in Lazada

BEIJING: Alibaba Group Holding will invest another $1 billion to raise its stake in online mall Lazada Group SA to 83%, securing control of a fast-growing startup at the vanguard of its Southeast Asian expansion.

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via Alibaba to invest $1 billion in Lazada

Edutech firm Imarticus is scouting for Rs 35 crore

BENGALURU: Financial services and analytics education startup Imarticus Learning plans to raise Rs 20-35 crore over the next two months to fuel its expansion plans, said founder Nikhil Barshikar.

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via Edutech firm Imarticus is scouting for Rs 35 crore

Abhinav Bindra's Shooting Star invests $1 million in FITPASS

BENGALURU: Olympic gold medal winner Abhinav Bindra's venture fund Shooting Star and Franchise India Brands, led by chairman Gaurav Marya, have invested $1 million in FITPASS, a New Delhi-based provider of access to gyms and fitness studios across multiple locations for a monthly fee.

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via Abhinav Bindra's Shooting Star invests $1 million in FITPASS

12 startups picked by Karnataka government for Rs 3.18-cr booster shot

BENGALURU: Karnataka's department of information technology and biotechnology has announced Rs 3.18 crore in grants to 12 startups in areas such as agriculture, biotechnology, security, communications and robotics.

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via 12 startups picked by Karnataka government for Rs 3.18-cr booster shot

With revenue servings up at 81%, Zomato cuts losses by 34% in FY17

MUMBAI: Online restaurant search firm Zomato saw a 34% dip in its total loss for 2016-17 to Rs 389 crore from Rs 590 crore in the previous year, according to the annual report of its largest shareholder Info Edge, thanks mainly to a strategy that excluded self-fulfilled deliveries.

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via With revenue servings up at 81%, Zomato cuts losses by 34% in FY17

Arianna Huffington to help India thrive

BENGALURU: Huffington Post cofounder Arianna Huffington has launched her new health and wellness platform, Thrive Global, in India in partnership with Times Bridge. Thrive Global, which focuses on reducing employee burnout and stress, plans to hire a team in India, Huffington told ET.

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via Arianna Huffington to help India thrive

Say the word! Amazon's Alexa will fetch it for you

BENGALURU: You will soon be able to ask Amazon's voice-assistant Alexa to book an Uber or play your favourite music, and without switching to English.

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via Say the word! Amazon's Alexa will fetch it for you

No proposal to hive off Coal India's arms as separate companies: Piyush Goyal

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via No proposal to hive off Coal India's arms as separate companies: Piyush Goyal

A Day at the Beach: Haas Door Products Weather the Storm

Coastal living isn’t always easy and carefree … especially if you live in Florida. As most experts relate, there are four vulnerable parts of a home during severe weather: the roof, windows, doors and garage door.

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via A Day at the Beach: Haas Door Products Weather the Storm

Uber expands UberEATS to Delhi-NCR

NEW DELHI: Uber today announced expansion of its 'UberEATS' service in the Delhi-NCR region as it attempts to bite into the food delivery market currently dominated by the likes of FoodPanda, Swiggy and Zomato.

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via Uber expands UberEATS to Delhi-NCR

SAIL appoints Lakshmikumaran & Sridharan to supervise the transition to the GST regime

KOLKATA: Steel Authority of India Ltd. (SAIL) has appointed a consultant to supervise the transition to the GST regime.

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via SAIL appoints Lakshmikumaran & Sridharan to supervise the transition to the GST regime

'Assess demand first to make CIL's $1 billionn investment plan work'

NEW DELHI: A careful assessment of coal demand for power sector is needed so that the over USD 1 billion annual investment plan by CIL for raising its production capacity to 1 billion tonne is not stranded, the government think tank Niti Aayog has said.

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via 'Assess demand first to make CIL's $1 billionn investment plan work'

Expect Nifty at 9000 by July end when largecaps fall: Sanjiv Bhasin, IIFL

In a chat with ET Now, Sanjiv Bhasin, EVP-Markets & Corp Affairs, India Infoline, says not only local, even global markets are heading for a correction. Do you think we could see some sort of a correction in the global markets and for Nifty 9000 is on the cards by the end of next month?

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via Expect Nifty at 9000 by July end when largecaps fall: Sanjiv Bhasin, IIFL

The people of India should take the credit for GST: Jayant Sinha, MoS, Aviation

In an exclusive interview with ET Now's Supriya Shrinate, Jayant Sinha, MoS, Aviation, talks about the impending GST implementation and how the long waited tax reform will unfold in the country's socio-political context. Edited Excerpts:

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via The people of India should take the credit for GST: Jayant Sinha, MoS, Aviation

Higher valuations, GST causing nervousness in market: Amit Nigam, Peerless MF

Talking to ET Now, Amit Nigam, Head-Equity, Peerless MF, says larger part of our economy is services which is actually going to see a lot of complications going ahead.

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via Higher valuations, GST causing nervousness in market: Amit Nigam, Peerless MF

CA Technologies Partners with IIIT-Hyderabad to set up Co-innovation Lab

PUNE: CA Technologies and IIT-Hyderabad have signed a collaboration agreement to set up a Co-innovation Lab at the Indian Institute of Information Technology, Hyderabad campus. CA Technologies engineers will collaborate with IIIT-Hyderabad’s research labs to build new technology prototypes.

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via CA Technologies Partners with IIIT-Hyderabad to set up Co-innovation Lab

Three days to go: Five things to know as you welcome GST

GST is 3 days away. While the entire country gears up to welcome the biggest economic and tax reform since Independence, here is a checklist for you - so that you easily transition into GST. Transition of Registration - Any dealer who is registered under State VAT, Central Excise, Service tax etc.

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via Three days to go: Five things to know as you welcome GST

Don’t be rigid on GST, be prepared to change: Bimal Jalan

Revenue Secretary Hasmukh Adhia in an interview yesterday alluded to the fact that the government has to watch out against the inflationary impact of the GST at least for the first one to two years. Will GST be inflationary to begin with now that we know what the rate structure will be?

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via Don’t be rigid on GST, be prepared to change: Bimal Jalan

Content marketing company WittyFeed revamps its brand identity

NEW DELHI: Content marketing firm WittyFeed is undergoing a brand revamp as it launches a new user web interface, according to a company statement.

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via Content marketing company WittyFeed revamps its brand identity

We expect a 20% AUM growth for FY18: VP Nandakumar, Manappuram Finance

In an interview to ET Now, the Vice President of Manappuram Finance, VP Nandakumar, opens up about his company's annual growth expectation and the success of his consolidated AUM. Edited Excerpts:

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via We expect a 20% AUM growth for FY18: VP Nandakumar, Manappuram Finance

Bullish on 5 sectors post GST: Sridhar Sivaram, Enam Holdings

Has the market already made this earnings adjustment and has it already priced it in? Most people are expecting 18-20% earnings growth for this year. I am not very sure if people have really looked into the way we are looking at it.

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via Bullish on 5 sectors post GST: Sridhar Sivaram, Enam Holdings

India should revisit lofty coal output targets as demand weak- policy panel

NEW DELHI: India should rein in its lofty coal output target as power demand is growing at a slower pace than expected, a government policy think-tank said, even as state monopoly Coal India Ltd (CIL) struggles to sell already-mined coal.

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via India should revisit lofty coal output targets as demand weak- policy panel

How Zenatix is using data to help you track power consumption in real time

The best of us may be chasing alternate sources of energy, but a trio of engineers from IIT-Delhi have taken a different route.

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via How Zenatix is using data to help you track power consumption in real time

ftcash selected for Mastercard Smart Path program

PUNE: Fintech startup ftcash has been selected by Mastercard Start Path to participate in its annual six-month virtual mentorship program. ft cash is one of six startups from around the world which will be participating in the current round.

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via ftcash selected for Mastercard Smart Path program

MSME hub takes shape in UP, may come up soon

KANPUR: An MSME hub to promote leather goods, hosiery and machine manufacturing is likely to come up soon in the adjoining trans-Ganga city, with the UP government pulling out all the stops to make it a reality.

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via MSME hub takes shape in UP, may come up soon

Our foreign holding will come down below 40%: Sanjay Agarwal, AU Small Finance Bank

As the AU Small Finance Bank IPO opens, talking to ET Now, Sanjay Agarwal, MD & CEO, says gross NPA around 1.6% is still far better than the industry peers. You have raised close to Rs 560 crore via 34 anchor investors. Tell us about the anchor investors. What has been the response like?

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via Our foreign holding will come down below 40%: Sanjay Agarwal, AU Small Finance Bank

4 pharma cos to buy at corrections: Dipan Mehta

Chatting with ET Now, Dipan Mehta, Member, BSE & NSE, says Cadila, Aurobindo, Natco and Strides Acrolab are the four pharma firms one can be bullish on.

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via 4 pharma cos to buy at corrections: Dipan Mehta

With 3 days to go, government sets up special war room to deal with GST queries

NEW DELHI: With days to go before India launches its biggest tax reform in decades on July 1, the government is trying to ensure that doubts arising over the goods and services tax get answered in real time as much as possible. "A special war room has been created...

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via With 3 days to go, government sets up special war room to deal with GST queries

Shares of a publicly traded Uber might be crashing

At Uber Technologies Inc., chaos reigns. The ride-hailing company's investors forced Chief Executive Officer Travis Kalanick to resign earlier this month, and much of its C-suite is now empty.

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via Shares of a publicly traded Uber might be crashing

Indian entrepreneurs can startup in China's Guizhou

BENGALURU: Guizhou, a mountainous province located in southwest China, has signed a memorandum of understanding with the Indian government and Nasscom to invite Indian entrepreneurs to build businesses there.

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via Indian entrepreneurs can startup in China's Guizhou

Pre-GST offers ensure leading consumer electronic retail chains rake in the moolah

KOLKATA | MUMBAI: It's been an early Diwali for the consumer electronics industry with large retail chains saying they have sold as many televisions, refrigerators and air-conditioners in June as they did in the peak festive season last year.

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via Pre-GST offers ensure leading consumer electronic retail chains rake in the moolah

Why GST's anti-profiteering rule will prove to be a minefield of litigation

When the GST Council issued Anti-profiteering Rules 2017 on June 19, it left out some critical provisions.

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via Why GST's anti-profiteering rule will prove to be a minefield of litigation

Why UBS’ Gautam Chhaochharia is gung-ho about GST

Talking to ET Now, Gautam Chhaochharia, Head of India Research, UBS, says the aggregate impact of GST on fiscal year 2018 numbers is going to be marginal. Do you think GST is going to have just a marginal impact and everything around it is largely noise?

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via Why UBS’ Gautam Chhaochharia is gung-ho about GST

Rs 25 crore to spot a LivSpace offline

MUMBAI: Online home decor and designing platform LivSpace is the latest among the big boys of the ecommerce to jump onto the omni-channel bandwagon after its five-year online stint. It is looking at establishing 25 experience centres and apartments over the next 12-18 months.

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via Rs 25 crore to spot a LivSpace offline

MSME entry is on SAP India's mind

NEW DELHI: SAP India is eyeing increased adoption of its ERP software solution for micro, small & medium enterprises (MSMEs) amid a changing taxation and regulatory regime.

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via MSME entry is on SAP India's mind

Unocoin goes offline after identifying bugs

HYDERABAD: Bitcoin and blockchain startup Unocoin has taken its website offline after identifying vulnerabilities in its architecture. While the website is functional, users are not allowed to log into their accounts since Saturday morning.

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via Unocoin goes offline after identifying bugs

Rubique gets $3 million in a bridge round

NEW DELHI: Kalaari Capitalbacked fintech startup Rubique had raised a bridge round of $3 million a few months ago but chose not to disclose it due to internal reasons, a top executive told ET.

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via Rubique gets $3 million in a bridge round

$2 million in Series A will now add to Niki.ai's Smarts

BENGALURU: Bengaluru-based ecommerce company Niki.ai, which runs an artificial intelligence-based personal assistant, has raised $2 million (about Rs 13.3 crore) in Series-A funding from San Francisco based SAP.iO and existing investor Unilazer Ventures.

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via $2 million in Series A will now add to Niki.ai's Smarts

Cisco will invest and work with startups for innovation

Global IT and networking giant Cisco, which has invested $1.4 billion since 2005 including a manufacturing facility in India, is upbeat on the emerging opportunities through digitisation programmes , says its chief executive Chuck Robbins.

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via Cisco will invest and work with startups for innovation

Resolution pros have a huge role under bankruptcy law: Shardul Shroff, Shardul Amarchand Mangaldas

There should be a stipulated minimum net worth for resolution professionals to qualify for running a company, said Shardul Shroff, executive chairman of law firm Shardul Amarchand Mangaldas.

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via Resolution pros have a huge role under bankruptcy law: Shardul Shroff, Shardul Amarchand Mangaldas

Meet the makers as The Joinery turns 35

PORTLAND, Oregon -- The Joinery began as a furniture refurbishing and repair business in 1982.

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via Meet the makers as The Joinery turns 35

Just One Hole …

“What’s your next project? Working on anything cool?” are questions that I get on a regular basis.

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via Just One Hole …

LivSpace bets big on offline, earmarks Rs 25 crore investment

MUMBAI: Online home décor and designing platform LivSpace is the latest among the big boys of the ecommerce to jump onto the omni-channel bandwagon after its five-year online stint. It is looking at establishing 25 experience centres and apartments over the next 12-18 months.

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via LivSpace bets big on offline, earmarks Rs 25 crore investment

Coal India receives higher e-auction realisations in June

KOLKATA: Coal India has received higher e-auction realisations this month for coal sold on long-term contracts to the captive power plants. Captive power plants lapped up 80% of the coal offered on a five-year contract at the auction at an average premium of 25% over the notified price.

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via Coal India receives higher e-auction realisations in June

NITI Aayog proposes break up of Coal India into seven companies

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via NITI Aayog proposes break up of Coal India into seven companies

Food startup Authenticook gets Rs 1.45cr from Booking.com

MUMBAI: Flush with a grant of Rs 1.45 crore (200,000 euros), food startup Authenticook today said it is expecting to increase the number of cities covered by four-times to up to 40 by end of 2018.

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via Food startup Authenticook gets Rs 1.45cr from Booking.com

Project Plan: Outdoor Cooler Cart

We partnered with Gorilla Glue to design and build this cooler cart project that uses many of their latest products. This cooler cart will keep your drinks icy cold and serves as a perfect serving station on your deck or patio.

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via Project Plan: Outdoor Cooler Cart

Anne Briggs Bohnett: Woodworking and Farming in Seattle

When Anne Briggs Bohnett moved to the Seattle area from Asia a couple of years ago, not only did she not know anyone locally except for her husband and his family, but she also didn’t know anything about woodworking or farming.

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via Anne Briggs Bohnett: Woodworking and Farming in Seattle

Coffee Can Hose Couplings

Don’t discard your metal coffee cans in the 11- to 15-ounce sizes. Here’s a simple upcycle for them in the shop! If you cut off their bottoms and inside top flanges with a can opener, they’re just the right size to form sturdy and smooth couplings between sections of 4″ dust collector hose.

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via Coffee Can Hose Couplings

Getting Use Out of Old Tubes

I cut up old inner tubes into cross sections that make handy, stretchable wraps for power tool cords and lengths of rope. Both bicycle and motorcycle inner tubes of various sizes work well, depending on how large you need the rubber wraps to be.

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via Getting Use Out of Old Tubes

Steel sector to be unaffected by GST rollout

The impact of GST, which is due to be implemented with effect from July 1, 2017, is largely expected to be neutral on the steel sector. While pre GST, rates on steel are at 18.1%, the GST rates have been kept at 18%.

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via Steel sector to be unaffected by GST rollout

Table Saw Fence System

In this video, you will see how I created the easiest, steadiest, strongest, fully functional homemade table saw fence system. It’s really simple and I think that anyone can build it in no time!

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via Table Saw Fence System

What Kind of Chairs Are These?

Someone asked me to repair and varnish his chairs. I was surprised when I saw what was underneath: springs and strips of metal! I have no idea where these chairs were made or how old they are. I live in Quebec, and the chairs probably were made in Canada.

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via What Kind of Chairs Are These?

RYOBI ONE+ Hybrid Score™ Wireless Speakers

Thanks to the capabilities of Bluetooth®, the days of running wires between audio controllers and speakers is almost a bygone necessity.

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via RYOBI ONE+ Hybrid Score™ Wireless Speakers

L&T Construction bags orders worth Rs 2,552 crore

NEW DELHI: A subsidiary of engineering conglomerate Larsen and Toubro (L&T) has secured orders worth Rs 2,552 crore across business segments. The orders have been bagged by its construction arm, L&T Construction.

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via L&T Construction bags orders worth Rs 2,552 crore

GST: There will be no change in law; Amazon, Flipkart get 2 months to comply with TCS provision

The government may have deferred its implementation of a provision that required ecommerce players such as Amazon and Flipkart to deduct tax on payments made to their vendors from July 1, but the government on Tuesday made it very clear that it was merely postponing the implementation and not doing

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via GST: There will be no change in law; Amazon, Flipkart get 2 months to comply with TCS provision

Will not come after small shops, retailers with anti-profiteering law: Hasmukh Adhia

The government on Tuesday made it clear that small businesses have nothing to fear from the anti-profiteering rules introduced in the GST Act and that the law was enacted only to deal with profiteering by big companies.

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via Will not come after small shops, retailers with anti-profiteering law: Hasmukh Adhia

SAP India partners with MSME Ministry for Bharat ERP

NEW DELHI: Tech major SAP has partnered with the Ministry of Micro, Small and Medium Enterprises (MSME) to jointly launch Bharat ERP, a programme aimed at digital empowerment of small businesses in the country.

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via SAP India partners with MSME Ministry for Bharat ERP

Guide to filing GST returns: Revenue secretary Hasmukh Adhia makes it easy for you

As the Goods and Services Tax (GST) moves closer to the launch date, July 1, anxiety is palpable. People, especially small traders and businesspersons, are scared of the complex procedure of filing multiple tax returns.

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via Guide to filing GST returns: Revenue secretary Hasmukh Adhia makes it easy for you

A Tata Group stock could prove to be a dark horse after GST: Rajen Shah, Tradebulls

In a chat with ET Now, Rajen Shah, Chief Investment Adviser, Tradebulls, says tea sector in general and Tata Global Beverage in particular could be the stock that could prove to be the dark horse under GST.

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via A Tata Group stock could prove to be a dark horse after GST: Rajen Shah, Tradebulls

B2C consumer cos likely to fare best under GST: Lalit Nambiar, UTI Mutual Fund

Talking to ET Now, Lalit Nambiar, UTI Mutual Fund, says individual companies may struggle through the next three, four months a little bit but the market may not focus on that.

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via B2C consumer cos likely to fare best under GST: Lalit Nambiar, UTI Mutual Fund

2 stocks to help in wealth creation: Siddharth Sedani, Anand Rathi

Talking to ET Now, Siddharth Sedani, VP- Equity Sales Advisory, Anand Rathi, says Supreme Industries and KEC International are the two stocks he is bullish on.

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via 2 stocks to help in wealth creation: Siddharth Sedani, Anand Rathi

A large number of public sector banks are pretty sick: AK Purwar, Former Chairman, SBI

In an interview to ET Now, AK Purwar, Former Chairman, SBI, talks about RBI’s New Bankruptcy Norms and how the banks would be dealing with the new diktat. You think RBI's diktat is going to add additional stress to banks which are already grappling with higher provisioning cases?

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via A large number of public sector banks are pretty sick: AK Purwar, Former Chairman, SBI

No tax except on marginal profit made by second-hand car dealers: Hasmukh Adhia

This is also happening once in three months. No that is every month but that is for these regular dealers, not for composite dealers.

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via No tax except on marginal profit made by second-hand car dealers: Hasmukh Adhia

Unocoin website offline; CEO says it will be back up by end of today

HYDERABAD: Bitcoin and blockchain startup Unocoin has made its website offline after they identified vulnerabilities in a part of its architecture. The website is going to be back up by end of today, according to Unocoin chief executive Sathvik Vishwanath.

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via Unocoin website offline; CEO says it will be back up by end of today

Impact of GST will be less than that caused by VAT in 2006: Hasmukh Adhia

In an exclusive interview with ET Now’s Supriya Shrinate, Hasmukh Adhia, Revenue Secretary, says there will be inflation and disruption for about a year after GST is introduced. This really is the most ambitious tax reform.

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via Impact of GST will be less than that caused by VAT in 2006: Hasmukh Adhia

Rubique launches regional language apps

PUNE: Fintech startup Rubique has launched regional language versions of its app in order to reach out to more customers. The company said that it had launched its interactive Rubique Associate app in Hindi, Marathi and Bengali.

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via Rubique launches regional language apps

Eateries to shut early on 30th to avoid midnight tryst with GST

MUMBAI: This Friday, the party may not go beyond midnight as most restaurants plan to down shutters early in order to prepare for the switch over to the goods and services tax (GST) regime from Saturday. Restaurants, which otherwise close at 1.

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via Eateries to shut early on 30th to avoid midnight tryst with GST

E-commerce sellers can file their GST returns via ClearTax

BENGALURU: Ahead of the GST rollout, ClearTax has partnered with online fashion marketplace Voonik to help its sellers with the automated tax filing services. “We are offering two plans that will cater to online sellers.

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via E-commerce sellers can file their GST returns via ClearTax

GST pangs for 3 months only, people will adjust to new way of life soon: Revenue Secretary Hasmukh Adhia

Revenue Secretary Hasmukh Adhia today said that the initial pangs of Goods and Services Tax (GST) might be felt for the first three months but after that things will settle down. "The main pang will be in the first three months. There would be temporary disruption but not at a heavy cost.

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via GST pangs for 3 months only, people will adjust to new way of life soon: Revenue Secretary Hasmukh Adhia

Look for growth to make money not value: Vikas Khemani, Edelweiss Securities

In an interview with ET Now, Vikas Khemani, President & CEO, Edelweiss Securities, says natural growth of the industry and the shift of market share from unorganised to organised provides a huge opportunity in consumption and consumer durable space, building materials, textiles including both yarn m

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via Look for growth to make money not value: Vikas Khemani, Edelweiss Securities

We are looking at least a year or six quarters of pain: Ashvin Parekh

Talking to ET Now on RBI’s New Bankruptcy Norms, Ashvin Parekh, Ashvin Parekh Advisory Services, says RBI’s move is very valid and it is a completely justifiable one in making sure that at least the quality aspect is well recognised.

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via We are looking at least a year or six quarters of pain: Ashvin Parekh

Market likely to consolidate at 9600-9700 level: Vaibhav Sanghavi, Avendus Capital

Talking to ET Now, Vaibhav Sanghavi, Co-CEO, Avendus Capital, says If we get through the phase of haircut for banks smoothly, one can look at PSU banks after the whole mess is over. What is your take on GAIL? Trump has said that he is going to promote US gas trade with India.

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via Market likely to consolidate at 9600-9700 level: Vaibhav Sanghavi, Avendus Capital

4 days to GST - Firms stumble upon last-mile challenges

NEW DELHI: In the last-minute rush for GST-compliance businesses are stumbling upon challenges ranging from accountants' fees to the need for new email IDs.

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via 4 days to GST - Firms stumble upon last-mile challenges

Lawyers are smiling as GST set to fuel litigation wave

India’s new goods and services tax will spark a flood of litigation on everything from which tax brackets companies fall into to the revenue they generate, some of the country’s top lawyers predict.

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via Lawyers are smiling as GST set to fuel litigation wave

Ywait, there are deals on liquor

MUMBAI: There may be good news for the partygoers looking for value deals on Friday nights. Now, they can download an app that will reduce their liquor bills with various customised offers and discounts. Ywait allows partygoers to order drinks at several pubs and restaurants at lower prices.

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via Ywait, there are deals on liquor

Traders want ombudsman for redressal of GST grievances

NEW DELHI: Traders' body CAIT today demanded setting up of an 'impartial authority' like an ombudsman or Lokpal, whom businessmen can voice their grievances related to the Goods and Services Tax (GST) and seek redressal.

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via Traders want ombudsman for redressal of GST grievances

GST fallout: Margin expansion may draw anti-profiteering vigil

MUMBAI: Indian stocks may appear slightly overvalued over the next few quarters until the dust settles on the GST -and restores the primacy of margin-based multiples in `buy' or `sell' calls.

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via GST fallout: Margin expansion may draw anti-profiteering vigil

View: Why GST is starting to look like an Indian wedding

India stands on the brink of one of its most momentous policy reforms in decades unprepared and uncertain. We're just a few days away from the launch of a new indirect-tax regime, the goods-and-services tax, or GST, and anxiety about its rollout is all-pervasive.

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via View: Why GST is starting to look like an Indian wedding

Central banks moving toward a less accommodative policy: Mark Matthews, Julius Baer

Talking to ET Now, Mark Matthews, Julius Baer, says we are in a strange environment where we do get continually improving global economy but inflation stays very low because of technological disruption. What cues do you think the market is going to be working with?

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via Central banks moving toward a less accommodative policy: Mark Matthews, Julius Baer

Screwvala raises stake in EasyPolicy

NEW DELHI: Unilazer Ventures, the investment firm set up by former media czar Ronnie Screwvala, has ramped up its stake in online insurance policy aggregator EasyPolicy and picked up a majority position in the Noida-based venture.

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via Screwvala raises stake in EasyPolicy

LetsVenture now into Israel's OurCrowd funding network

BENGALURU: Bengaluru-based crowdfunding platform LetsVenture has entered into a partnership with Israel's OurCrowd.

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via LetsVenture now into Israel's OurCrowd funding network

Stashfin gets $5 million in Pre-Series A

NEW DELHI: Virtual credit facility provider Stashfin has secured $5 million in pre-Series A funding from Kirloskar Group's venture capital arm Snow Leopard Ventures and Singapore-based Alto Partners.

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via Stashfin gets $5 million in Pre-Series A

Naspers added $71 million to hold 16% in Flipkart

BENGALURU: South African media conglomerate Naspers has made an additional investment of $71 million in online marketplace Flipkart in April 2017, increasing its shareholding to 16%, as per the annual financial report filed by the company.

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via Naspers added $71 million to hold 16% in Flipkart

Demonetisation has not impacted war on NPAs: SS Mundra, RBI

Reserve bank of India Deputy Governor SS Mundra explains the war against bad loans in an interview to ET Now. In the massive clean-up against bad loans, you have identified 12 cases to begin with. What kind of resolution are you expecting on this front?

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via Demonetisation has not impacted war on NPAs: SS Mundra, RBI

Blockchain tech is joining e-gov dots in AP, Telangana

BENGALURU | HYDERABAD: As cybersecurity becomes paramount, blockchain seems to have piqued interest among state governments as a technology to protect sensitive data.

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via Blockchain tech is joining e-gov dots in AP, Telangana

A year on, benefits have only begun from Amazon Prime

The subscription-based pro gramme, which saw membership triple from January 2017 to June 2017, plans to include benefits such as event ticketing and cashbacks through the Amazon Pay wallet.

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via A year on, benefits have only begun from Amazon Prime

GST: Relief for Amazon and Flipkart as government defers implementation of a provision

NEW DELHI: The government has deferred implementation of a provision that required ecommerce players such as Amazon and Flipkart to deduct tax on payments made to their vendors from July 1, under the new Goods and Service Tax regime.

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via GST: Relief for Amazon and Flipkart as government defers implementation of a provision

Forthcoming GST regime will be a game changer for steel industry: ISSDA

KOLKATA: Indian Stainless Steel Development Association (ISSDA), the country’s apex stainless steel industry body, has said the forthcoming GST regime will be a game changer for the industry.

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via Forthcoming GST regime will be a game changer for steel industry: ISSDA

Government to set up workspace for startups in Mangaluru

NEW DELHI: India’s first government-owned co-working space for startups is set to come up in Mangaluru, offering cutting-edge technology such as 3D printing and new-age digital infrastructure, such as high-speed Internet. “We felt there was a great dem and for a co-working space in Mangaluru.

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via Government to set up workspace for startups in Mangaluru

E-commerce sellers can file their GST returns via ClearTax

BENGALURU: Ahead of the GST rollout, ClearTax has partnered with online fashion marketplace Voonik to help its sellers with the automated tax filing services. “We are offering two plans that will cater to online sellers.

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via E-commerce sellers can file their GST returns via ClearTax

Govt's move to defer TCS under GST will help sellers: Amazon

NEW DELHI: The government's move to defer implementation of TDS and TCS provisions under the upcoming GST regime will ease pressure of cash flow for sellers on e- commerce platforms, leading e-tailer Amazon said today.

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via Govt's move to defer TCS under GST will help sellers: Amazon

28% GST levy; fireworks units to begin indefinite stir on June 30

He said 811 fireworks units in the state would participate in the indefinite strike.

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via 28% GST levy; fireworks units to begin indefinite stir on June 30

Vedanta's dream has just begun; to invest $6-7 billion: Anil Aggarwal

NEW DELHI: Working on creating a natural resources giant anchored in India, Vedanta's dream has only just begun and it will invest USD 6-7 billion on expanding overall capacity in 3-4 years, metals and mining baron Anil Agarwal said.

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via Vedanta's dream has just begun; to invest $6-7 billion: Anil Aggarwal

SAIL eyes South Africa, Canada for coal import

NEW DELHI: India's largest steelmaker SAIL is keen to cut down its dependence on Australian firm BHP Billiton for coking coal import and is readying a Plan B with countries like South Africa and Canada on mind. "SAIL is a buyer of around 12 million tonnes (mt).

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via SAIL eyes South Africa, Canada for coal import

Automobile parts and services marketplace SparesHub raises Rs 2 crore

HYERABAD: Automobile parts and services marketplace SparesHub.com has raised Rs 2 crore from Anthill Scale Ventures, Esvee Technologies, Chennai Angels and other high net-worth individuals (HNIs).

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via Automobile parts and services marketplace SparesHub raises Rs 2 crore

Flipkart teams up with HP, Intel, Microsoft for laptops

NEW DELHI: E-commerce marketplace Flipkart on Monday announced that it has collaborated with HP, Intel and Microsoft so that consumers can buy HP Intel Core i3 Windows 10 laptop for Rs 36,000 at Rs 999 per month by availing a 36-month EMI option.

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via Flipkart teams up with HP, Intel, Microsoft for laptops

Excited to keep investing, growing in India: Amazon CEO Jeff Bezos

NEW DELHI: American online retail giant Amazon, which has committed investments to the tune of USD 5 billion in India, will "keep investing and growing in India", its chief Jeff Bezos has said.

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via Excited to keep investing, growing in India: Amazon CEO Jeff Bezos

Coal on the rise in China, US, India after major 2016 drop

BEIJING: The world's biggest coal users China, the United States and India have boosted coal mining in 2017, in an abrupt departure from last year's record global decline for the heavily polluting fuel and a setback to efforts to rein in climate change emissions.

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via Coal on the rise in China, US, India after major 2016 drop

Short of IT workers at home, Israeli startups recruit elsewhere

TEL AVIV: When Alexey Chalimov founded software design firm Eastern Peak in Israel four years ago he knew he would not find the developers he needed at home. He went to Ukraine and hired 120 people to develop mobile apps and web platforms for international clients and smaller Israeli startups.

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via Short of IT workers at home, Israeli startups recruit elsewhere

Your Trade: 2 largecaps to buy and sell on Tuesday

Would you give too much to the fact that we closed sub 9600 on Friday or was that okay considering there is a long weekend and then expiry as well next week?

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via Your Trade: 2 largecaps to buy and sell on Tuesday

Startups will not do pilot projects for free

BENGALURU: As funding slows, early-stage startups are focusing on being lean and monetising their businesses quickly.

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via Startups will not do pilot projects for free

Chaayos eyes partners to double stores

MUMBAI: Café chain Chaayos is looking to step on the gas as it aims to double its store count in the next six months. The Tiger Global Management-backed homegrown tea café chain is currently present in 37 stores across Delhi, Gurugram, Noida, Ghaziabad, Chandigarh and Mumbai.

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via Chaayos eyes partners to double stores

V Resorts raises $4 m from Seedfund, RB investments

NEW DELHI: V Resorts, a resort management company, has raised $4 million from venture funds Mumbai-based Seedfund and Singaporebased RB Investments. The proceeds will go into expanding the firm’s expansion across the country as well as abroad, said Aditi Balbir, CEO at V Resorts.

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via V Resorts raises $4 m from Seedfund, RB investments

Family says Yes to an ISME Fintech accelerator with a Rs.100-cr fund

MUMBAI: Indian School of Management and Entrepreneurship, managed by the family office of Yes Bank chief Rana Kapoor’s daughters, has launched a specialised accelerator programme in Mumbai for fintech startups.

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via Family says Yes to an ISME Fintech accelerator with a Rs.100-cr fund

If rates soften, it will be very positive for domestic cyclicals: Abhay Laijawala, Deutsche Equities

Global markets are cruising to new peaks and are awash with liquidity. Volatility levels, at multi-year lows, are painting a calm picture but some warn that the picture is not rosy after all as markets don't want to take cognizance of the risks.

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via If rates soften, it will be very positive for domestic cyclicals: Abhay Laijawala, Deutsche Equities

Startups abound, healthcare no more a distant dream

MUMBAI: A hospital run by a small, century-old Advaita Ashrama on the India-China border is surrounded by the Himalayas on three sides. It has no permanent staff and doctors though some doctors volunteer around the year spending a few weeks at a time.

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via Startups abound, healthcare no more a distant dream

Trouble apparent in GoJavas, not for Snapdeal

BENGALURU/NEW DELHI: Online marketplace Snapdeal took four months to initiate a formal complaint against executives of logistics company GoJavas — in which it owned a minority stake — after a forensic report by auditors indicated instances of poor corporate governance, according to people aware

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via Trouble apparent in GoJavas, not for Snapdeal

Siemens, Schneider Electric and Eaton Corporation join ABB in race for L&T's electrical unit

NEW DELHI: Global industrial conglomerates Siemens, Schneider Electric and Eaton Corporation have joined ABB in the race to acquire the electrical and automation division of Larsen & Toubro, two people aware of the discussions said.

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via Siemens, Schneider Electric and Eaton Corporation join ABB in race for L&T's electrical unit

Tata Steel could merge some of its subsidiaries: MD, TV Narendran

MUMBAI: Tata Steel may merge some of its subsidiaries in a review of its assets portfolio even as India’s oldest maker of the alloy looks at brownfield expansion in Odisha, penciling in a demand revival. "Yes, if it makes sense...in the past subsidiaries have become divisions of Tata Steel. ...

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via Tata Steel could merge some of its subsidiaries: MD, TV Narendran

Essar Steel eyes 25% market share in auto-grade steel segment

MUMBAI: Essar Steel today said it aims to achieve 25 per cent market share in auto-grade steel over the next couple of years through strategic alliances and new product development.

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via Essar Steel eyes 25% market share in auto-grade steel segment

SAIL seeks NITI help to resolve differences with ArcelorMittal

NEW DELHI: The country's largest steel maker SAIL has sought help from government think-tank NITI Aayog to resolve differences with ArcelorMittal over setting up of about Rs 5,000-crore autograde steel plant.

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via SAIL seeks NITI help to resolve differences with ArcelorMittal

Unitech sells 74-acre land in 3 cities for Rs 260 cr

NEW DELHI: Faced with cash crunch, realty firm Unitech has sold 74-acre land in Gurgaon, Chennai and Hyderabad for Rs 260 crore to boost its cash flow and complete ongoing projects. The Gurgaon-based developer has sold 41 acres in Hyderabad for Rs 160 crore, 19.

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via Unitech sells 74-acre land in 3 cities for Rs 260 cr

For any business, the first year is a honeymoon period: Falguni Nayar

Falguni Nayar left an 18-year career as an investment banker to be an entrepreneur. She founded Nykaa in 2012, an e-commerce platform for beauty products. Nayar, 54, put her own money into the business first and then raised Rs 185 crore from domestic high net-worth individuals.

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via For any business, the first year is a honeymoon period: Falguni Nayar

How not to end up like Uber and the lessons to be learnt from Travis Kalanick's exit

Uber's been in the news over the past few months for its "toxic work culture" and CEO Travis Kalanick finally stepped down, putting the spotlight on the way startups work and the need to look into a company's internal processes early on. Closer home, Housing.

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via How not to end up like Uber and the lessons to be learnt from Travis Kalanick's exit

What Indian startups should learn from the ouster of Uber's Travis Kalanick

Indian entrepreneurs still worship Silicon Valley’s idols and aspire to be like them. The downfall of Uber cofounder Travis Kalanick should teach them that they need better role models.

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via What Indian startups should learn from the ouster of Uber's Travis Kalanick

Why Oyo may be the darkest horse in SoftBank’s India portfolio

Only about one company in nine, contend Bain strategists Chris Zook and James Allen, has sustained more than a minimum level of profitable growth during the past decade. Of those 1.

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via Why Oyo may be the darkest horse in SoftBank’s India portfolio

India wants to double consumption of cheap material in 5 yrs, what about its plastic waste?

If Waste Ventures’ name does not spell out clearly enough what it does, a visit to its office surely does the job. Located behind a weighbridge on the outskirts of Hyderabad, the startup’s headquarters are at the entrance to a partially roofless, 13,000 sq ft warehouse.

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via India wants to double consumption of cheap material in 5 yrs, what about its plastic waste?

PM Narendra Modi launches India-Portugal International StartUp Hub

LISBON: Prime Minister Narendra Modi and his Portugese counterpart Antonio Costa on Saturday launched the India-Portugal International StartUp Hub (IPISH) here to help in mutual capacity building, and enable connections between start-ups, investors, and incubators from relevant sectors.

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via PM Narendra Modi launches India-Portugal International StartUp Hub