Finance

GST Payment for E-Commerce Businesses: Challenges and Solutions

In the realm of e-commerce, GST Payment represents a significant aspect that businesses need to handle efficiently. The introduction of the Goods and Services Tax (GST) in India marked a revolutionary tax reform aiming to subsume multiple indirect taxes into a unified system. However, for e-commerce businesses, it has brought along its own set of challenges. This article will dive deep into these challenges and introduce you to feasible solutions to significantly ease the process.

Indian Market: Sensex down 316.31 pts

The BSE Sensex on Tuesday dropped 316.31 pts to close at 65,512.10 because of foreign fund outflows amid sluggish Asian Market.

Hyundai announces six airbags as standard for all models

Automobile major Hyundai Motor India Limited (HMIL)on Tuesday announced three key announcements cementing HMIL’s proactive approach towards introducing safer mobility solutions for Indian customers.

World Bank pegs India's FY24 GDP growth at 6.3%

New Delhi/UNI: The World Bank has projected India’s GDP growth for the current financial year 2023-24 at 6.3% even as global headwinds continue to persist and intensify further due to high interest rates, geopolitical tensions and sluggish global demand.

IndiGo commences operations between Delhi-Itanagar

Private airlines major IndiGo has commenced exclusive direct flights between Delhi and Itanagar, effective October 2, 2023.

Govt extends tenure of CBDT Chairperson Nitin Gupta

New Delhi: CBDT Chairperson Nitin Gupta, a 1986-batch IRS officer, received a nine-month extension in service on a contract basis from the Union government on Saturday, media reports said.

IREDA upgraded from ‘Schedule B’ to 'Schedule A' CPSE

New Delhi: Renewable Energy Development Agency Ltd (IREDA), the largest pure-play green financing Non-Banking Finance Company in India, has been upgraded from 'Schedule B' to the 'Schedule A' category of Central Public Sector Enterprises.

India retains the 40th Position in Global Innovation Index 2023

New Delhi: India retained the 40th position out of 132 economies in the Global Innovation Index (GII) 2023, reflecting a remarkable journey from its 81st rank in 2015 to this notable achievement.

EPFO extends three months’ time for employers to upload wage details by Dec 31

New Delhi: The Central Board of Trustees of EPFO has extended the time, for the employers to submit wage details and other required information till December 31, 2023.

Govt's total gross liabilities grow 2.2% Q-o-Q to Rs 1,59,53,703 cr

New Delhi: The total gross liabilities of the government, including those under the 'Public Account', saw a marginal increase to Rs 1,59,53,703 crore from Rs 1,56,08,634 crore in end-March 2023, reflecting a 2.2% quarter-on-quarter rise in Q1 FY24.

RBI extends deadline for returning Rs 2000 bank notes till October 7

The Reserve Bank of India (RBI) on Saturday extended the deadline for exchanging or depositing Rs 2000 banknotes by a week to October 7, 2023.

Kolkata: US Consulate General, Aroh Foundation, Nexus Start-up Hub organize boot camp, pitching event for 20 women entrepreneurs

The U.S. Consulate General Kolkata, in partnership with the Aroh Foundation and Nexus Start-up Hub, organized a boot camp and Shark Tank Style Pitching Event for a group of nearly 20 women entrepreneurs on Friday in Kolkata.

Vee Technologies adds fourth facility in Bengaluru

Bengaluru: To cater to its growing services business, IT and Tech firm Vee Technologies has added a new development facility at Hebbal, its fourth in Bengaluru.

SCO meeting for trade and economy ministers: India highlights initiatives for promotion of trade and investment, digitalisation, cross-border payment system

New Delhi: Union Minister of State for Commerce & Industry Anupriya Patel stressed harnessing the opportunities available to the SCO region, which accounts for 40% of the global population and 30% of the world's economy, for mutually beneficial, balanced and equitable growth

NLC India Ltd inks Power Purchase Agreement with GRIDCO Ltd for 800MW

Bhubaneshwar: NLC India Limited (NLCIL) and GRIDCO Ltd on Friday signed a Power Purchase Agreement (PPA), the Ministry of Coal said in a statement.

Coal Ministry signs agreement with six successful bidders for commercial mining of 91 mines

New Delhi: The Ministry of Coal has executed agreements with six successful bidders of coal mines under Commercial Mining in the 7th round of auctions on Friday.

Vedanta announces demerger of business into 6 entities

New Delhi / London: Vedanta Ltd on Friday announced its plan to demerge its business units into independent “pure play” companies to unlock value and attract big-ticket investment into the expansion and growth of each of the businesses.

L&T Finance partners with Ather Energy to offer up to 100% of Loan-to-Value (LTV) on EVs

Mumbai: L&T Finance, a  Non-Banking Financial Company (NBFC), on Friday announced a partnership with EV manufacturer Ather Energy.

US economy: Consumer spending grows in Aug, underlying inflation eases

Washington: Consumer spending in the U.S. rose in August, although the core inflation rate, excluding food and energy, showed a decrease, falling below 4.0% compared to the previous year, Reuters reported.

India to grow at avg rate of 6.5% between 2023-30

Kolkata: Chief Economic Advisor V Anantha Nageswaran stated on Friday that the Indian economy is set to achieve an average annual growth rate of 6.5 percent from 2023 to 2030.

India's core sector output moves up to touch 12.1 pc in August

India's core sector comprising of eight key infrastructure components grew 12.1% year-on-year in August 2023, according to data released by Commerce and Industry Ministry on Friday.

Air India Express takes delivery of the first two Boeing 737 MAX-8 aircraft of its large fleet order

Air India Express on Friday said it took delivery of its first two new Boeing 737 MAX-8 aircraft at the Boeing facility in Washington, USA.

Uzbekistan: Doing business will become easier and more profitable

Over the past seven years, entrepreneurship has become a priority in Uzbekistan's policy. It is evident how much attention the government dedicates to this area.

Mukesh Ambani's three children, Akash, Isha, Anant, to work without salary, to receive only fee to attend board meetings

Mumbai: Mukesh Ambani's three children, appointed as directors of Reliance Industries Ltd, will receive compensation solely for attending board and committee meetings, according to a company resolution seeking shareholder approval.

Indian Market: Sensex recovers 173.22 pts

The BSE Sensex on Wednesday recovered 173.23 points to close at 66,118.69 on the strength of capital goods, health care, FMCG, and industrial stocks.

Kerala HC nullifies FIR in money laundering case against Manappuram Finance CEO

Thiruvananthapuram: Manappuram Finance on Wednesday confirmed that the Kerala High Court has dismissed the FIR filed against V. P. Nandakumar, the company's Managing Director and CEO, in connection with a money laundering case, Moneycontrol reported.

Online real money gaming companies served Rs 55,000 cr GST demand notice: Report

New Delhi: The Directorate General of GST Intelligence (DGGI) has issued approximately a dozen pre-show cause notices to online real money gaming (RMG) companies for goods and services tax dues totaling around Rs 55,000 crore, ET reported.

How Does Loan Against Property Help A Borrower?

A loan can be a feasible option when someone is facing a financial crisis or needs funds for personal reasons such as medical expenses or expanding a business. A loan against property is a sensible option for those who have property in their name and need substantial funds. This secured loan, as implied by its name, involves using the property as collateral to secure funds provided to the borrower. The lender extends the loan because the borrower pledges their property as security throughout the repayment period.

Bandhan Retirement Fund NFO opens on September 28

Bandhan Mutual Fund on Tuesday announced the launch of the Bandhan Retirement Fund, with the objective to provide long-term capital appreciation by investing in a mix of equity, debt, and other instruments to help investors meet their retirement goals.

Indian Market: Sensex down 78.22 pts

The BSE Sensex on Tuesday dropped 78.22 pts at 65,945.47 as selling was witnessed in IT, Bankex, Technology and Health Care stocks.