Food delivery platform Zomato has been slammed with tax demand and penalty worth Rs 23.26 crore from Karnataka tax authorities. However, Zomato believed it had a strong case on merits and it will raise an appeal against the order before the appropriate authority. The demand order for the interest penalty and overuse of the input […]
To manage the overall food security and to prevent hoarding and unscrupulous speculation, the Centre has decided that traders, wholesalers, retailers, big chain retailers and processors in all states and union territories have to declare their stock position of wheat on the portal (https://evegoils.nic.in/wheat/login.html) with effect from 1 April 2024 and then, on every Friday […]
The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, Government of India, has intensified efforts to bolster e-commerce exports from the country, as part of its ‘District as Export Hubs’ initiative. Aimed at facilitating micro, small, and medium enterprises (MSMEs) to explore international markets via e-commerce channels, this initiative is […]
The National Payments Corporation of India (NPCI) has on Thursday approved One97 Communications (OCL), which operates popular fintech company Paytm, to participate in UPI as a Third-Party Application Provider (TPAP) under the multi-bank model. Four banks (Axis Bank, HDFC Bank, State Bank of India, YES Bank) shall act as PSP (Payment System Provider) banks to […]
Union Minister of Railways Ashwini Vaishnaw stated that Integral Coach Factory (ICF), Chennai will now develop standard gauge Vande Bharat trains, only for export purposes. Minister Vaishnaw was speaking on the occasion of the inaugural ceremony of Qualcomm’s Chennai Design Center. The centre was inaugurated by the minister Vaishnaw. Standard gauge rakes are used in […]
The International Spirits & Wines Association of India (ISWAI) has called on state governments to adopt an inflation-based pricing model for alcoholic beverages, citing a substantial rise in raw material costs. According to ISWAI CEO Nita Kapoor, industry margins have contracted, leaving very little for trade and manufacturers, with state governments claiming 60-80 per cent […]
The Union Minister, Piyush Goyal, has affirmed the government’s commitment to preventing price spikes in essential food items, such as onions, tomatoes, and pulses, especially during elections. Goyal, who heads the Food and Consumer Affairs Ministry, emphasised the Modi government’s successful track record in swiftly controlling rates after temporary increases. In an interview with PTI, […]
The Directorate General of GST Intelligence (DGGI) has initiated action against many fast-moving consumer goods (FMCG) companies for alleged tax fraud. According to a report, DGGI filed notices and investigative intimation letters to FMCG businesses such as ITC, Pepsico, Prataap Snacks, Balaji Wafers, Guiltfree Industries and Sarveshwar Foods about this. These companies are suspected of […]
The Central government has allowed the export of 50,000-tonne onions to Bangladesh and 14,400-tonne onions to UAE, at a time when the staple vegetable’s outward shipments have been kept under restrictions. For exports to the UAE, a ceiling of 3,600 tonnes is kept every quarter, the official notification from the Directorate General of Foreign Trade […]
In a significant boost to Uttar Pradesh’s dairy sector, the projects initiated during the groundbreaking ceremony are set to attract investments totaling Rs 9,000 crore. Despite emerging as the top milk producer among states in 2022-23, the state faces challenges with low milk production capacity in cattle, presenting an opportunity for further enhancement. During the […]
