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The Economic Times
The Economic Times 73 pc of e-commerce, tech startups planning workforce expansion in India
About 73 per cent of the e-commerce and tech startups are planning workforce expansion, signalling a net employment change of 8.9 per cent, a report showed on Wednesday.
The Economic Times Domestic startup Rebel Foods raises funds ahead of planned IPO
Rebel Foods, an online restaurant startup, secured $210 million in funding led by Temasek, valuing the company at $1.4 billion. The company plans an IPO within two years and aims to expand its network of dark kitchens from 450 to 800 by 2029, leveraging AI to enhance operations and customer service.
The Economic Times ITAT upholds taxpayer's right to legitimate tax planning
The Mumbai ITAT upheld a taxpayer's right to offset short-term capital losses against long-term gains, reducing tax liability. The tribunal rejected the tax department's claim of a 'colourable device,' stating the Mindtree share sale, though timed after a bonus issue announcement, was legitimate tax planning, not evasion.
The Economic Times Mahindra Lifespace gets tax demand of Rs 2.09 crore from GST department in Tamil Nadu
In a regulatory filing, Mahindra Lifespace Developers Ltd said the "company has received order from the Office of the Assistant Commissioner of State Tax, Chengalpattu, Assessment Circle Tamil Nadu, GST imposing tax demand along with interest and penalty."
The Economic Times Gateways seek GST waiver on low-value commissions
Payment gateway operators are urging the finance ministry to reconsider an 18% GST levy on commissions from small-value digital transactions (up to ₹2,000). They argue that passing this tax burden onto merchants will hinder the growth of digital payments, especially in smaller towns. Tax authorities are seeking backdated GST from fiscal 2017-18, impacting major players like BillDesk and CCAvenue.
The Economic Times GST amendments in sync with Council's recommendations: Minister
West Bengal Finance Minister Chandrima Bhattacharya presented the state's GST Amendment Bill, aligning with GST Council recommendations. She highlighted the state's influence in the council and dismissed BJP opposition as politically motivated. The amendments aim to benefit small businesses, while the BJP criticized the state's debt burden and focus on liquor revenue. The bill passed despite the opposition.
The Economic Times Leverage employment-linked incentive scheme: Labour Secretary
India's labor secretary encouraged businesses to use the new ELI scheme. The scheme offers incentives for hiring more manufacturing workers. It aims to boost formal employment and job creation. India's growing working-age population will help address global labor shortages. The secretary also highlighted India's potential as a manufacturing hub, citing its success with global capability centers.
The Economic Times Over 1,000 incubators driving India's startup boom; shift towards inclusivity and innovation: KPMG
The report reveals that women own 20.5% of all micro, small, and medium enterprises (MSMEs) in India, while 45% of startups now emerge from tier II and III cities, marking a shift towards regional entrepreneurial growth.
The Economic Times Travel Food Services files draft papers with Sebi for Rs 2,000-cr IPO
Travel Food Services, operating a travel quick-service restaurant and a lounge business across airports in India and Malaysia, has filed draft papers with markets regulator Sebi to float a Rs 2,000 crore initial public offering (IPO).
The Economic Times Labour Min mulls scheme for gig, platform workers
India is working on a new scheme for gig workers. The scheme will offer benefits like social security. The government recognizes the growing gig economy. Officials estimate over 3 crore gig workers by 2030. The scheme aims to support these workers and the economy. The government also discussed the impact of AI and the Employees' Linked Incentive Scheme.
The Economic Times Need to see why industry seek high duties despite significant cut in tariffs: DPIIT Secy
India has significantly lowered tariffs to the global average, yet domestic industries still lobby for increases. A government official questioned their competitiveness and highlighted efforts to integrate with global supply chains and boost domestic manufacturing through free trade agreements and infrastructure development.
The Economic Times Indian pharma companies set to make further progress in US market in 2025: HSBC
Indian pharmaceutical companies, which benefited from sector tailwinds such as stable generic pricing and shortage-led opportunities and stable costs of raw materials in the past 18-24 months, will make further progress in differentiated and complex generics in the US market in 2025, a report showed on Wednesday.
The Economic Times Wildstone appoints Stuart Smith as new CFO
Stuart Smith will take over as CFO of Wildstone, effective December 10, 2024, following the resignation of Jennifer Smith in May 2024.
The Economic Times India's growth to rebound to 7 pc in 2025-26: Report
India's economic growth is expected to rebound to 7 per cent in 2025-26, despite the global uncertainties, primarily due to domestic policies, according to an Axis Bank research report released on Wednesday.
The Economic Times The ghost of inflation may not leave the Indian economy anytime soon
Axis Bank's latest report indicates that inflation in India is unlikely to ease quickly, with core and food price indices remaining closely linked. While food and vegetable prices are at cyclical highs, the supply response may lag the demand boost from income-transfer schemes, contributing to sustained inflationary pressures.
