Sector: All Sectors
GST revenues register three-month high in July
India’s gross revenues from the Goods and Services Tax (GST) hit a three-month high to cross ₹1.65 lakh crore in July. However, at 10.8%, it was the slowest uptick in collections since July 2021 compared to revenues from the same month last year. Revenues from domestic transactions and services imports grew 15% in July, which … Read more
28% GST on e-gaming, casinos is here to stay
Ruling out any change in the proposed 28% GST on online gaming and casinos, government sources said it is prudent to stick to levying tax on the gross value as any other method comes with complications in businesses that lack transparency. The gaming industry has been seeking a review of last month’s GST Council decision, … Read more
Meta Will Pour Gasoline on Threads When Ready for Growth
Mark Zuckerberg sees an “awesome” and unexpected opportunity with Threads. The new app quickly gained 100 million users, although retention has proven more difficult. When the time is right, Zuckerberg is prepared to do what he can to make it successful long term. Something is loading. Thanks for signing up! Access your favorite topics in … Read more
Jio Financial partners with Blackrock
Jio Financial Services Ltd (JFSL), the demerged financial lending arm of Reliance Industries Ltd, and BlackRock, the world’s largest asset manager, have joined hands to set up an asset management company. It’s a 50:50 JV with both partners planning to invest $150 million each in the JV Jio BlackRock will bring BlackRock’s deep expertise and … Read more
M&M buys into RBL
In a sudden announcement, M&M has informed to have acquired 3.53% stake into RBL Bank. Stake has been acquired from secondary market at a total value of Rs 417 cr. Average acquisition price is estimated at around Rs 199 per share as against RBL’s current trading price of Rs 239/ share. M&M has informed that … Read more
ITC to demerge the hotels business
It was long awaited and finally ITC‘s board has taken the decision to demerge the hotels business into a new entity. Name of the new entity is proposed to be “ITC Hotels Limited (IHL)” In such kind of demergers, normally existing shareholding of the main Company gets replicated in the new entity i.e., 1:1 share … Read more