GST Council Meet: GST exemption limit increased from Rs 20 lakhs to Rs 40 lakhs
The GST Council relaxed tax exemption limit to Rs 40 lakh from the earlier cap of Rs 20 lakh during its 32nd meeting on Thursday. The all-powerful panel also decided to extend the composition scheme to traders from informal sector rendering services or mixed supplies with a turnover up to Rs 50 lakh. The exemption limit for small states has also been increased to Rs 20 lakh from Rs 10 lakh.
World Bank's global report has something positive to say about India
The World Bank, in its recently released Global Economic Prospects Report - January 2019, has sketched a gloomy outlook for the global economic growth in the coming years, reiterating the fears of global slowdown, however, it expects India to remain the fastest growing emerging market economy. Despite all odds, India is expected to remain the fastest growing emerging market economy and its growth forecast has been kept unchanged at 7.3 per cent in FY19
Twitter to bring new dashboard for enhanced political ad transparency in India
In an attempt to bring transparency in political advertisements ahead of general election in India, Twitter Thursday said it will provide a new dashboard showing such expenditures by political parties on its platform. The US-based company is also engaging with various stakeholders, including Election Commission of India (ECI), to verify candidates as well as train parties and election officials on using Twitter and teach them how to report suspicious, abusive, and rule-violating activity to Twitter.
PM to soon flag off Train 18 on Del-Varanasi route, says Goyal
Prime Minister Narendra Modi will soon flag off Train 18, the country's fastest train, on the Delhi-Varanasi route, Union Minister Piyush Goyal said Thursday. Goyal said Train 18's run-time would be eight hours, about one-and-a-half times faster than the fastest train on the route.
Jaguar Land Rover says to axe 4,500 jobs worldwide
Jaguar Land Rover will axe around 4,500 jobs, the Indian-owned carmaker announced yesterday, with the group hit by a slump in Chinese sales and fears about Britain's competitiveness after Brexit. This is in addition to the 1,500 who left the company during 2018.
Sebi brings cybersecurity framework for mutual funds and AMCs
Markets regulator Sebi Thursday put in place a robust and stricter cybersecurity framework for mutual funds and asset management companies (AMCs) to guard against breaches of data leak. The new norms would be effective from April 1, 2019, Securities and Exchange Board of India (Sebi) said in a circular.
Will skip Davos Summit if govt shutdown continues: Trump
US President Donald Trump on Thursday said he will skip the annual meeting of the World Economic Forum (WEF) at Davos in Switzerland if the ongoing partial shutdown of the government continues. The partial shutdown caused by the row over Trump's demand for a US-Mexico border has brought the functioning of several wings of the federal government, including the State Department, to a stand still.
DIPP seeks stakeholders' views on draft methodology for states' startup ranking 2019
The Department of Industrial Policy and Promotion (DIPP) has sought views of various stakeholders on its draft methodology to rank states and union territories this year on the basis of measures being taken by them to promote startups. In the last ranking announced in December 2018, Gujarat has emerged as the best performer in developing startup ecosystem for budding entrepreneurs.