Page 11 - Itc

Input tax credit not available for GST paid on CSR work expenses: UP AAR

CSR activities are excluded from the normal course of business, says authority citing rules

Commerce ministry asks departments to consult with PLI scheme beneficiaries

The commerce and industry ministry has suggested departments, which are implementing their sector-specific production-linked incentive schemes, hold consultations with PLI beneficiary companies to understand their issues, government officials said. The suggestion was made in a workshop on the production-linked incentive (PLI) scheme called by the ministry on June 27. The meeting assumed significance as the government disbursed only Rs 2,900 crore till March 2023 out of Rs 3,400 crore claims received under the scheme. The scheme was announced in 2021 for 14 sectors, such as telecommunication, white goods, textiles and pharma with an outlay of Rs 1.97 lakh crore. The departments were also asked to ensure that PLI beneficiaries complete their investments and meet production targets. "It was suggested to the line ministries now to call the PLI beneficiary companies for consultations with them only and if they flag any issue, it could be conveyed to the commerce and industry ministry so

GST officers bust nexus of 30 fake firms for passing Rs 50 cr ITC

The GST officers have busted a nexus of more than 30 fake firms, who have availed ineligible input tax credit (ITC) of over Rs 50 crore, the finance ministry said on Wednesday. In an ongoing two-month-long special drive against fake registration, the Central GST Delhi West Commissionerate found multiple entities registered on the same address. During investigation, it was found that the said address was existent but the owner of the premises denied any knowledge about the existence of any firm. In a statement, the finance ministry said searches were undertaken at multiple locations in Delhi and it was found that a person named Shiva has been obtaining KYC credentials from people on the pretext of getting loans sanctioned for them. "Further search revealed that Shiva has created more than 30 fake firms and sold them in cash at a premium. He also stated that to avoid physical verification, he used AADHAR authentication to obtain these GST registrations," the ministry said. These ...

Stocks to Watch: SBI, HDFC twins, JSW Steel, Vedanta, TCNS, ITC, ABFRL

Stocks to watch on June 28, 2023: HDFC said the announced dates for its merger into HDFC Bank are tentative and subject to completion of certain formalities; JSW Steel could replace HDFC in Sensex

Sensex hits all-time high: Will the winners of this rally hold momentum?

ITC and Tata Motors have zoomed 33 per cent each since December 1, and have led the rally in the 30-pack index

Stocks to watch: Adani Transmission, HDFC AMC, ITC, Sun Pharma, Coal India

Stocks to watch on June 20, 2023: From HDFC AMC to Adani Transmission, here are few stocks to watch in Tuesday's trading session

ITC considers 'alternative' structure for its hospitality business

Conglomerate looking at REITs, JVs, says Nomura report; industry sees it as a 'win-win' situation

ITC scales to fresh high, m-cap inches towards Rs 6 trillion-mark

ITC outperformed the market for the eight straight months, has rallied 37% thus far in the calendar year 2023, as compared to 3.8 per cent rise in the S&P BSE Sensex.

ITC's FMCG revenue up 20% in FY23 as it aims to de-risk from tobacco biz

ITC's revenue growth is impressive as compared to 9 per cent in FY22 and 11 per cent in FY21

Brands are using emotional AI to enhance the customer's in-store experience

As AI assumes greater significance in our lives, its deployment in offline retail will only become bigger

FMCG companies announce sustainable milestones, targets on Environment Day

Leading consumer goods companies -- including ITC, Dabur, Coca-Cola, and DS Group -- on Monday announced new sustainable milestones and targets on World Environment Day. The companies are setting targets like being carbon neutral, scaling up investments in sustainable packaging, reducing the usage of plastic in packaging and harnessing green energy. Homegrown FMCG and ayurvedic products maker Dabur India announced to be a plastic waste positive by collecting, processing and recycling more plastic waste than it sold in its product packaging in FY23. ITC scaled up its sustainable packaging offerings for plastic substitution and announced several measures to reduce the utilisation of plastic across products and businesses -- ranging from its packaging and food to the hotel business. Beverage major Coca-Cola India on Monday announced to launch of new bottles made from completely recycled PET plastic material (rPET) in Andhra Pradesh. "This is the first time in India that any bottle ma

Foods give ITC an appetite for diversification, recipe for margin expansion

The largest chunk of the tobacco major's non-cigarettes FMCG portfolio is growing rapidly on the back of hectic brand building, acquisitions, and new ventures

ITC trades ex-date for dividend; stock gains over 2% in subdued market

Thus far in the calendar year 2023, ITC has outperformed the market by surging 35 per cent, as compared to 2.8 per cent rise in the S&P BSE Sensex

Chatroom: Denial of ITC on inter-state transfer of duty-free goods unfair

'The testing requirement will apply for exports to all countries, without exception'

ITC market-cap hits Rs 5.5 trn; stock trades higher for 6th straight day

Thus far in the calendar year 2023, ITC has surpassed market value (mcap) of Infosys, SBI, HDFC, Bharti Airtel, Adani Enterprises and LIC

ITC sets up consumer goods manufacturing unit in Odisha, CM inaugurates

Odisha Chief Minister Naveen Patnaik on Monday inaugurated ITC's integrated consumer goods manufacturing and logistics facility at Khurda. Congratulating ITC CMD Sanjeev Puri, Patnaik urged him to expand the company's footprint in the state. He reiterated the state government's commitment to making Odisha the next industrial hub in the country. The Industrial Policy Resolution (IPR) 2022 aims to transform Odisha into a modern and advanced industrial state by offering the investors outstanding opportunities for sustainable business growth and fostering holistic socio-economic development of the people, he said. The food processing sector is one of the priority sectors in IPR 2022 and this facility by ITC marks a significant milestone for Odisha, he said. The facility is built on an area of 35 acre. It is dedicated to seven production lines, including Aashirvaad atta, Yippee! noodles, Sunfeast biscuits and Bingo! chips. The inauguration ceremony was attended by Jatni MLA Suresh Kum

ITC's stock rally has more legs; analysts remain positive after strong Q4

Continuing high raw material inflation is a key concern and rupee depreciation continues to be a pain point

Stocks to Watch today, May 19: ITC, Thomas Cook, Zomato, Nexus REIT, IndiGo

Stocks to Watch on Friday: ITC Limited reported a 21.4 per cent YoY growth in standalone net profit at Rs 5,086.9 crore for the March quarter

Sensex ends lower for third straight day, slips 129 pts; SBI, ITC dip 2%

CLOSING BELL ON MAY 18: The NSE Nifty 50 slipped 52 points to 18,130 as weekly expiry also weighed on the sentiment.

ITC Q4FY23 net profit rises 21.1%, declares dividend of Rs 9.5/ share

ITC Q4 results: The revenue from operations rose 6.5 per cent to Rs 17,506.8 crore during the quarter