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The Economic Times
The Economic Times Quess Corp receives ₹180 Crore tax demand for non-filing of IT Returns
The Income Tax Department slapped a demand notice of ₹180.05 crore on Quess Corp Limited. The notice pertains to E-NXT, a company Quess Corp says ceased to exist in 2015. Quess Corp is challenging the notice, stating E-NXT merged with TBSS/Conneqt in 2014. TBSS/Conneqt has filed combined tax returns since 2015-16 and received no demands.
The Economic Times Virtual hearings must for CESTAT appeals
Exceptions to physical hearings will be allowed only upon specific requests from the party concerned, with the adjudicating authority documenting reasons in writing, said a directive issued by the CBIC on Tuesday evening.
The Economic Times Businesses with turnover over Rs 10 cr cannot report e-invoices older than 30 days from April 1, 2025
Starting April 1, 2025, businesses with an annual turnover exceeding ₹10 crore will face a 30-day limit for reporting e-invoices on the GST system. This change aims to prevent late tax payments and streamline the tax ecosystem. Previously, this restriction only applied to businesses with turnovers exceeding ₹100 crore.
The Economic Times Tax officers detect Rs 25K cr GST evasion by 18,000 bogus firms
Tax authorities have uncovered approximately 18,000 fraudulent companies registered under GST, resulting in an estimated tax evasion of Rs 25,000 crore. These fictitious entities were identified during a nationwide crackdown on fake GST registrations, with voluntary payments of Rs 70 crore collected during the operation.
The Economic Times India’s festive sales growth halves this season amid mixed demand trends
Retail sales, estimated by the Confederation of All India Traders (CAIT), hit Rs 4.25 trillion, representing a 13.3% growth, which remains strong but is markedly slower than the 36.4% growth recorded in 2023.
The Economic Times Fortis Malar Hospitals appoints Pradeep Kumar Malhotra as CFO
Pradeep Kumar Malhotra succeeds Yogendra Kumar Kabra who resigned from the position of Chief Financial Officer and Key Managerial Personnel of the Company to pursue new opportunity for his long-term career goals, as stated by the company in a regulatory filing to BSE.
The Economic Times SMIFS Capital Markets CFO Shreemanta Banerjee resigns
Shreemanta Banerjee stepped down from his position in order to pursue other career opportunities, as stated by the company in a regulatory filing to BSE. Banerjee joined the company in August of 2014 and resigned from his position after serving for more than 10 years.
The Economic Times Facor Alloys Dy CFO Vijay Vashisth resigns
Vijay Vashisth stepped down from his position stating personal reasons, as quoted by the company in a regulatory filing to BSE. Vashisth joined the company in May 2010 and has resigned after serving for more than 14 years.
The Economic Times Scan Steels CFO Gobinda Chandra Nayak resigns, Kalyan Kiran Mishra takes over
Given the resignation of Nayak, Scan Steels Limited has appointed Kalyan Kiran Mishra as its Chief Financial Officer, effective November 5, 2024.
The Economic Times Akasa Air FY24 revenue soars 339%, losses up over two-fold
Akasa Air saw a significant revenue increase to INR 3,069.6 crore in FY24, but losses also grew to INR 1,670.1 crore due to rapid expansion. Despite this, the airline reported a 10 percent rise in revenue per available seat kilometre. Akasa plans to increase capacity by 50-55 percent in FY25, anticipating further revenue growth.
The Economic Times NTPC, ONGC joint venture poised for big push to green energy projects
"Subsequent to the signing of the Joint Venture Agreement on 7th February 2024, during India Energy Week 2024, and obtaining the required statutory approvals from DIPAM and NITI Aayog, NGEL has submitted an application to the Ministry of Corporate Affairs for the incorporation of a 50:50 Joint Venture Company with OGL," said the Ministry of Power.
The Economic Times CFO hiring surges as India Inc ramps up financial leadership amid IPO boom and growth challenges
India's corporate sector is driving strong demand for CFOs, fuelled by IPOs, market volatility, and the need for strategic financial leadership. Startups and established firms alike seek CFOs to navigate complex financial challenges, while shorter tenures reflect evolving career dynamics.
The Economic Times Record foreign exodus casts a pall over India’s stock market
India's stock market is experiencing a decline as foreign investors withdraw record funds due to concerns about the slowing post-pandemic economic boom. Despite domestic investments preventing a larger downturn, waning consumer spending and high valuations are causing anxieties. Although the market shows potential for growth, experts predict further adjustments as the economic slowdown's impact becomes clearer.
The Economic Times CBDT allows tax officials to waive or reduce interest due from assessee
The Act also empowers Principal Chief Commissioner (PrCCIT) or Chief Commissioner (CCIT) or Principal Commissioner (PrCIT) or Commissioner rank officers to reduce or waive the amount interest due to be paid.
The Economic Times India proposes merging regional rural banks to help them shore up capital, document shows
India's government has put forward a proposal to consolidate the country's regional rural banks from 43 down to 28. This move aims to bolster the banks' capital and reduce expenses. These banks, which primarily serve rural communities, held a combined 6.6 trillion rupees in deposits as of March 31, 2024.
