BUSINESS
Record company registrations in April; Covid-hit Maharashtra, Delhi, UP lead charge
And a testimony to the strong entrepreneurial spirit of the Indian people is the growing number of companies that are getting registered in the country. During the peak of the second wave of the pandemic in April, a whopping 12,554 companies were registered in India, including 839 one-person companies with authorised capital of Rs 1,483.41 crore.
Vistara inducts first fully owned Airbus A320neo aircraft
Accordingly, the aircraft, registered VT-TQE, arrived in Delhi from Airbus' production facility in Toulouse, France. The aircraft is one of the 13 Airbus A320neo that Vistara had purchased in 2018 as part of a larger order totaling 50 aircraft from the Airbus A320neo Family, including the Airbus A321neo aircraft as well.
Second wave to stunt rural demand, impact overall growth
heavy impact of pandemic in rural areas as well as rise in healthcare and other associated costs will slow down rural demand. Significantly, this will impact sectors ranging from two-wheelers, tractors, cement and consumer durables amongst others. Agricultural production will remain robust but rural consumption may get impacted due to spread of Covid
Healthy Outlook: Jefferies maintains buy on RIL, cited demand upside
Accordingly, Jefferies maintained the 'buy' call on RIL with a target and Rs 2,580 or 30 per cent upside. "At the current stock price, valuing the energy business at long-term average multiples, we are left with Rs 1,150 per share as imputed value of RIL's stake in 'Jio' and 'Retail'," Jefferies said in a report.
Jaypee Infra: NBCC, Suraksha get time till June 4 to submit revised bids
The voting over allowing both the companies to submit revised bids was conducted on May 27-28.
The CoC had approved the Suraksha group's bid on May 20 and rejected the NBCC's bid citing non-compliance with the Insolvency and Bankruptcy Code (IBC). The NBCC on May 24 wrote to the IRP and lenders including home buyers urging them to examine its resolution plan
Industry welcomes GST Council's decisions, says zero-rating of Covid-relief items should be explored
Industry body FICCI said that the Council's decision providing relief on import of Covid-related items and Black Fungus drug were a welcome move, and now GoM recommendations would be awaited to see what action is proposed on GST rate for other medical supplies for Covid including that for vaccines and ventilators.
Only 30% of firms in US, Europe to embrace full office return
While many business leaders are drawn to vaccine passports as a solution to bring their workforces back to the office full-time, global market research firm Forrester predicts that 70 per cent of US and European companies will pivot to a hybrid work model post-pandemic. Microsoft and Google have already laid out detailed plans for a hybrid workplace.
Covid-19: Corporates turn compassionate towards staff
"The policy will also extend existing medical insurance to the immediate family for the next five years. Education for two children of the deceased employee, up to graduation level, will be taken care of by the company," Jindal Stainless said. That apart, one-time relocation expenses of the dependents will also be supported by the organisation.
Petrol breaches Rs 100 per litre mark in Mumbai
But Mumbai does not have the unique distinction of breaching the Rs 100 per litre mark. Thane already reached the mark a few days back while few other cities in Rajasthan (including Jaipur) Madhya Pradesh and Maharashtra, having the highest VAT levels on auto fuels in the country, have already been selling normal petrol for over Rs 100 a litre for the past several days.
GST Council extends compliance relief for all taxpayers, focus on smaller
It has been decided that late fee on returns to filed in form GSTR-3B for tax periods from July 2017 to April 2021 will be capped to a maximum of Rs 500 (Rs 250 each for CGST & SGST) per return for taxpayers, who did not have any tax liability for the said tax periods. Also, late fee has been capped to a maximum of Rs 1,000 (Rs 500 each for CGST & SGST) per return for other taxpayers.
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