There is enough clarity on procedural aspects of GST and prices are less likely to rise as there are tax shields to prevent the same, Roca Bathroom Products Managing Director KE Ranganathan said today.
In an article, Ranganathan said the objective of GST is very simple and that is to make easy to do business by bringing uniformity in taxes across the country.
Expressing his views, he said: "New GST rates are fixed after much careful thoughts at more or less current levels."
Also Read
***************
FITPASS raises USD 1 mn in fresh funding * Fitness guide startup FITPASS today said it has raised USD 1 million (over Rs 6.46 crore) from prominent professional shooter Abhinav Bindra and Franchise India Chairman Gaurav Marya.
The fresh funds will be used to expand the full-suite of FITPASS service offerings across 10 cities in the next 6 months, the startup said in a statement.
Commenting on the funding, FITPASS co-founder Akshay Verma said: "The latest infusion of capital will allow us to significantly enhance the user experience and digitize the fitness economy."
*****************
Whirlpool of India ropes in chef Kunal Kapur for endorsements * Whirlpool of India today said it has roped in Chef Patron Kunal Kapur for endorsing its built in appliances.
Whirlpool of India is a subsidiary of global home appliance company Whirlpool Corporation.
Kunal Kapur will be creating exciting new recipes with the top of the line Whirlpool range making your kitchen cooking ready, the company statement said.
Magma Housing Fin appoints Manish Jaiswal as MD and CEO
* Magma Housing Finance has appointed Manish Jaiswal as its new MD and CEO, an industry veteran in BFSI segment.
Jaiswal will replace Sachin Khandelwal, who has stepped down to pursue interests outside the Magma group, the company said in a statement.
He will also hold the additional charge to head Magma's small and medium enterprises business.
Magma Housing Finance is a step-down subsidiary of Magma Fincorp Ltd (Magma).
Magma is a non-deposit taking non-banking finance company (NBFC) that provides financing for utility vehicles and cars, commercial vehicles, construction equipment, used commercial vehicles, tractors and SME loans.
*** *** ***
India would be a new online market for H&M in 2018 * Swedish fashion retailer Hennes & Mauritz (H&M) would start online sales in the Indian market from 2018.
The company has witnessed "rapid and profitable growth of the group's online sales" in its second quarter in some established markets accounting for 25 to 30 percent of total sales.
"India will be a new H&M online market in 2018. Additional new online markets will open in 2018," the company said in its six months report.
H&M online store has opened in further six new markets during the quarter in - Turkey, Taiwan, Hong Kong, Macau, Singapore and Malaysia - and is now available in 41 markets.
"H&M's online store will open in a further two markets in 2017 - the Philippines and Cyprus - in addition to the six online markets that have already opened in 2017," it added.
It added: "It is estimated that the group's online sales will grow by at least 25 percent per year going forward."
According to the fashion retailer, customer behaviour and expectations are changing at an ever-increasing pace, with a greater and greater share of sales taking place online.
