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Google offers to loosen deals with Apple, others in antitrust case
short by Mansi Agarwal / on Saturday, 21 December, 2024
Google has proposed to loosen its deals with companies including Apple which make Google's search engine the default on their devices. This comes after a US judge ruled in August that Google holds an illegal monopoly in online search. Following the ruling, the US government proposed to the judge to force Google to sell its Chrome browser.
read more at Reuters
Over 15% of super rich in India are aged under 30: Report
short by Mansi Agarwal / on Saturday, 21 December, 2024
Over 15% of India's high-net-worth individuals (HNIs), those with investable assets worth $1 million or more, are under 30, a study by consultancy firm Anarock showed. It further stated that nearly 30% of new HNIs owe their fortunes to technology, fintech, and startups. The number of HNIs in India is likely to double to 1.65 million by 2027, it added.
read more at ABP Live
No GST on transaction of vouchers, says GST Council
short by Mansi Agarwal / on Saturday, 21 December, 2024
The GST Council on Saturday recommended that no GST will be levied on transactions of vouchers as they are neither supply of goods nor supply of services. However, where vouchers are distributed on a principal-to-agent basis, any amount charged by the agent will be taxable. Additional voucher-related services such as marketing and promotion will also attract GST.
read more at X
States rejected bid to bring aviation turbine fuel under GST: FM
short by Mansi Agarwal / on Saturday, 21 December, 2024
Finance Minister Nirmala Sitharaman said states rejected a proposal to bring aviation turbine fuel (ATF) under the GST regime. "States did not feel comfortable. They see ATF as part of the crude, petroleum and diesel basket, and therefore they said that alone can't be taken out," she stated. ATF currently attracts an excise duty and a value added tax (VAT).
read more at Moneycontrol
Payment aggregators doing under ₹2,000 transactions get GST relief
short by Mansi Agarwal / on Saturday, 21 December, 2024
Finance Minister Nirmala Sitharaman on Saturday said payment aggregators handling transactions below ₹2,000 are eligible for GST exemptions. She added that this exemption does not extend to payment gateways and other fintech services. Additionally, penal charges levied and collected by banks and NBFCs from borrowers for non-compliance with loan terms will not attract GST.
read more at CNBC-TV18
GST panel defers decision on tax rate on food delivery charges
short by Mansi Agarwal / on Saturday, 21 December, 2024
Finance Minister Nirmala Sitharaman said the 55th GST Council meeting has deferred the decision about tax rates on food delivery by online and quick commerce platforms. She added that the Group of Ministers (GoM) will further discuss the topic. Earlier there were reports that GST on food delivery charges could be reduced to 5% from 18%.
Cabinet hikes MSP for Copra to ₹12,100 per quintal
short by System User / on Saturday, 21 December, 2024
The Cabinet Committee on Economic Affairs hiked the MSP for fair average quality of milling copra to ₹11,582 per quintal and for ball copra to ₹12,100 per quintal for 2025. The MSP has been increased in accordance with the government’s decision that mandates the MSP for crops will be fixed at levels of at least 1.5 times the all-India weighted average cost of production, the statement said.
Centre, ADB sign $350 million loan to boost India's supply chains
short by System User / on Saturday, 21 December, 2024
The Indian government and the Asian Development Bank (ADB) on Friday signed an agreement for a $350 million policy-based loan under the second subprogramme of the Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) programme, to strengthen the domestic manufacturing sector and improve the resilience of supply chains.
India now has 25,202 public charging stations for EVs: Govt
short by System User / on Saturday, 21 December, 2024
As many as 25,202 public charging stations for electric vehicles (EVs) have been installed in the country to date, the government said on Friday. Karnataka leads with 5,765 EV public charging stations, followed by Maharashtra at 3,728 and Uttar Pradesh at 1,989, Minister of State for Heavy Industries and Steel, Bhupathiraju Srinivasa Varma, told the Rajya Sabha in a written reply.
10 crore rural households mobilised into SHGs under DAY
short by System User / on Saturday, 21 December, 2024
Over 10 crore rural poor households have been mobilised into over 90 lakh Self-Help Groups (SHGs) under the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM), according to a report presented in the Lok Sabha by Minister of State for Rural Development, Chandra Sekhar Pemmasani, on Tuesday.
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