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Sale of developed plots to attract GST

IANS New Delhi Sale of plots with facilities like drainage, water line and electricity will attract a levy of Goods and Services Tax (GST), according to a ruling by the Authority on Advance Ruling (AAR). The Authority has ruled that GST will be levied on sale of land for which primary facilities like drainage, waterline and electricity have been provided …

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Opportunity for exporters in J&K to make use of virtual fairs

PTI Srinagar To ensure business continuity amidst COVID-19 pandemic, the Handicrafts and Handloom department has urged exporters and businessmen from Jammu and Kashmir to participate in the virtual fairs being organised by Export Promotion Council for Handicrafts (EPCH) and Carpet Export Promotion Council (CEPC) in July and August this year.  While EPCH is organising the 49th IHGF Delhi Fair, Virtual …

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Himachal likely to produce 30 million boxes of apple

Shimla: Himachal Pradesh, the country’s prominent fruit basket, is likely to produce 30 million boxes of apples this season and 68,000 trucks are required for their transportation to other states, an official said on Friday. In this season, the production of about 30 million boxes of apple – approximately five-six lakh metric tonne – is expected and more production is …

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Goods purchased and sold overseas will attract GST in India: AAR

New Delhi: A ruling by the Gujarat bench of the Authority for Advance Ruling (AAR) has said that Goods and Services Tax (GST) will be levied on Merchant Trade Transactions (MTT) where goods are not entering India but the transaction is in overseas locations. A domestic company buying goods from abroad and selling to another country will have to pay …

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JioMart tie up to benefit kiranas hit by loss of market share

New Delhi: As kirana stores lose market share, a tie up with JioMart may be a potential solution and could be beneficial for the viability of kirana stores. According to a report by ICICI Securities, despite all the noise, kiranas likely lost 4 per cent market share in March quarter. The kiranas, as they stand today, have a demand-side problem …

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Delhi’s peak power demand clocks season’s highest of 6,193 MW

New Delhi: Continuing with its rising trajectory, Delhi’s peak power demand on Thursday night clocked 6,193 MW, the season’s highest, power discom BSES said in a statement. The previous high for the season was 5,985 MW recorded just a day earlier. In just 24 hours, Delhi’s peak power demand has increased by over 3 per cent. The BSES noted that …

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SC refuses to vacate stay on Franklin Templeton’s e-voting

New Delhi: The Supreme Court on Friday ruled that all cases related to Franklin Templeton India shutting down six of its debt schemes being heard in various high courts — Gujarat, Madras and Delhi — will be transferred to the Karnataka High Court within two weeks. Dismissing a Special Leave Petition (SLP) by Franklin Templeton Mutual Fund against a Gujarat …

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BIZ SCAN

Manipal Hospitals Goa performs first ever bone marrow transplant PANAJI: The doctors at Manipal Hospitals Goa, performed the first ever bone marrow transplant in the state on a 54-year-old man using the revolutionary Apheresis technology. The patient was suffering from Plasma Cell Leukaemia, which is a form of myeloma (a type of blood cancer). He was admitted at the Manipal …

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India returning to normal business activity: PM

PTI New Delhi Prime Minister Narendra Modi on Thursday said business activity in India is fast returning to normal levels with consumption and demand approaching pre-COVID levels as visible in macro data on power, fuel and other consumption.  India faced a recession-like scenario after a national lockdown was imposed on March 25 to curb spread of coronavirus. The lockdown, that …

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India’s outlook to negative: Fitch

IANS New Delhi Fitch Ratings on Thursday revised India’s outlook to negative from stable and affirmed the sovereign rating at ‘BBB-’. Accordingly, Fitch said the revision of the outlook to negative on India’s Long-Term IDRs reflects concerns over economic contraction that the country is expected to encounter due to Covid-19 pandemic. “The coronavirus pandemic has significantly weakened India’s growth outlook …

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