Automating customs process, correcting inverted duty structure, easing compliance and introducing an amnesty scheme to settle past customs-linked disputes are some of the key recommendations of the industry for the Budget for FY26. Last week, industry unions and tax experts had met the revenue secretary to submit their proposals pertaining to tweaks necessary on the
The Centre is giving a fresh lease of of life via cash support to some central public sector enterprises (CPSEs) to let them stay afloat, even as the strategic sale policy is put on the backburner. With less appetite for privatisation, the Narendra Modi 3.0 government’s approach towards public capital management is now “holistic,” sources
Mumbai-based Asian Paints finds itself in a hard place after delivering a weak set of numbers for the third straight quarter in a row. The September quarter (Q2FY25) was the weakest yet, marked by a 5.3% drop in consolidated revenue to Rs 8,003 crore and a 480 basis points decline in operating margin to 15.4%.
India’s financial crime agency will summon Flipkart and Amazon executives as it steps up an investigation into alleged foreign investment law violations, days after raiding some of the e-commerce firms’ sellers, a senior government source said. The planned action signals growing regulatory scrutiny of Walmart-owned Flipkart and Amazon when their sales are rapidly growing in
Oil major, ONGC or Oil and Natural Gas Corporation reported a 17% year-on-year increase in its standalone Q2FY25 net profit to Rs 11,984 crore compared to Rs 10,238 crore net profit in the same quarter last fiscal. Also ReadBeyond food: Swiggy planning marketplace for astrologers, legal advisors – A look at its five latest app
In India’s fiercely competitive food delivery market, Swiggy and Zomato have emerged as titans constantly pushing the boundaries to stay ahead. Amidst this high-stakes environment, Swiggy is making bold moves by venturing beyond food delivery and groceries, expanding its services to capture new markets. Swiggy is reportedly set to introduce a groundbreaking service called ‘Yello’
Waaree Renewable Technologies, an engineering, procurement and construction (EPC) arm of Waaree Energies group, expects to complete around 1.3 gigawatt (GW) capacity projects in the remaining half of the current fiscal, chief financial officer Dilip Panjwani told FE. The company, which reported a multifold jump of 160% on-year in its net profit for the second
Zydus Wellness Ltd on Monday reported a profit jump of 254.2 per cent for the fiscal second quarter at Rs 20.90 crore in comparison to Rs 5.90 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 492.90 crore, up 12.0 per cent as against Rs 439.90 crore during the same
Central Goods and Services Tax (CGST) officials in the recent months have investigated over two dozen textile manufacturing companies across the country for mis-classifying textile processing activities and subsequently paying lesser tax. According to official sources, the CGST department has observed that several textile manufactures are recording activities which involve ‘changing the nature of cloth’
Artificial intelligence (AI) is being used for “collusion” by sections of Indian industry, Ravneet Kaur, chairperson of Competition Commission of India (CCI) said on Sunday, adding that the regulator would equip itself to deal with it. “Companies are using AI to coordinate prices without explicit agreements, and are engaging in algorithmic discrimination under the garb
Owning a home is one of the most significant steps toward financial security, both for individuals and families. While men have traditionally taken the lead in property purchases in India, the trend is gradually changing, with more women actively investing in real estate. Recognizing this shift, both state governments and financial institutions have introduced various
The National Capital Region Transport Corporation (NCRTC) is set to launch a co-working space, named MetroDesk, at the Ghaziabad Namo Bharat Station soon. This innovative initiative aims to turn urban transit areas into dynamic business hubs, introducing a pioneering coworking model within the Namo Bharat network. MetroDesk is tailored for professionals, entrepreneurs, and small businesses
8th Pay Commission News: The long-standing demand for the restoration of commuted pensions is again in discussion. Currently, this pension is restored after 15 years, but employee organisations want the government to cut this commutation period to 12 years. Now, after the announcement of the 8th Pay Commission, employees are hopeful that the government may
