GST Impact

ndian banking system is facing a widening liquidity deficit, reaching levels last seen in 2016, that may prompt the central bank to provide another round of short-term cash infusion

Kavin Bharti Mittal-founded Hike, which owns Rush Gaming Universe, has laid off about 55 people - more than one-fifth of its total workforce to absorb the impact of the GST hike on online gaming, a top company official said on Thursday. The development comes within a week of gaming unicorn Mobile Premier League (MPL) laying off about half of its India team or close to 350 people to cut down cost burden due to the increase in GST to 28 per cent. "About 55 people, out of which 24 are non-full-time employees. Closer to 22 per cent. Business is in the best shape ever but this 400 per cent increase in GST is a bazooka pointed at us. We'll need to absorb some of it and as a result the reduction in workforce at Hike/Rush," Hike Founder and CEO Kavin Bharti Mittal said. The entire team of Hike is engaged in the development of Web 3 gaming platform Rush Gaming Universe'. Investors in Hike include Tencent, Foxconn, Bharti Group, Tribe Capital, Polygon, Flipkart co-founder Binny Bansal, seri

Chhattisgarh Chief Minister Bhupesh Baghel will meet Union Home Minister Amit Shah on Wednesday in the national capital and is likely to discuss the impact of the GST system on the state resources

Reckitt had suffered a ransomware attack in June, which hit operations here and elsewhere

Like GST, demonetisation has also affected the restaurant industry, the survey revealed

'You will see the revenue figures will be higher than what we have seen so far', he added

Net profit declined by 1.5% year-on-year to Rs 1,03,438 crore in the September quarter

The GST will boost gasoline demand in the short to medium term

Toyota Kirloskar Motor (TKM) today said it has cut down the production of Camry Hybrid as demand for the model has been "adversely impacted" due to increase in price post GST implementation. The company, which is a joint venture between the Japanese auto major and Kirloskar group, said the sudden price rise of hybrid vehicles under the GST regime impacted the demand for the premium sedan. "Currently, due to the dip in customer demand, we have slowed down our Camry Hybrid production for the time being. We will monitor the situation and ramp up accordingly," TKM Sales & Marketing Director and Senior Vice President N Raja said in a statement. He however added that Camry Hybrid would continue to be an important part of Toyota product lineup in India. The company follows the 'Just in Time' approach and lean inventory and the entire production process is regulated by the laws of supply and demand, he added. Under the GST regime, hybrid vehicles have been put in the same ..

Exports had grown at 12 per cent during the April-July period this year

Introduction of the nationwide goods and services tax (GST) continued to be a drag on activity in the services sector in August, for a second month, with companies having to handle higher input prices and slow demand.The widely-tracked Nikkei Purchasing Managers' Index (PMI) showed a reading for the services sector of 47.5 in August. The 50-point mark separates expansion from contraction. However, the decline was softer than in the previous month of July, when the PMI had plunged to a nearly four-year low of 45.9. Last week, the latest gross domestic product (GDP) data showed a three-year plunge in economic growth at 5.7 per cent in the first quarter of the current financial year.While PMI data for manufacturing rebounded in August, rising to 51.2 points from 47.9 in July, services' providers continued to grapple with a slowdown in new businesses. The entities surveyed blame this on subdued demand and rising competitive pressures emanating from GST. "The tax rates under GST for a ...

No GST is applicable on room tariffs of less than Rs 1,000

Exemption to continue for charitable services rendered by trust registered under the Income Tax Act

Life-saving drugs, healthcare services, medical devices continue to be tax-free under GST: Ministry

The premium on the scrips is going to drop as a result of this

Ambiguous rules, multi-rate sales tax have left firms confused on how to price their products

An anti-profiteering authority will be set up to ensure the benefit of tax reduction is passed on

A 5-member National Anti-Profiteering Authority will be set up soon under the new tax regime

Experts help clear doubts around the impact of the new indirect tax regime on businesses

City's chikan industry says GST could sound death knell for them; trade employs 550,000 workers