IFSC Announces Tax Exemption for Non-Resident Investors
The International Financial Services Centre (IFSC) at GIFT City in Gujarat has announced a slew of tax incentives for non-resident investors in its latest budget. The amendments to the Finance Bill, 2023, which were passed by the Lok Sabha on Friday, aim to make the IFSC more attractive and competitive as a global financial hub. […]
Protecting IP Rights: Delhi High Court’s Game-Changing Verdict for Online Retail
The landmark decision by the Delhi High Court places a significant responsibility on e-commerce platforms to actively safeguard intellectual property rights and to prevent their platforms from becoming conduits for counterfeit goods. This case, initiated by Puma SE against IndiaMART InterMESH Ltd., serves as a precedent for how e-commerce platforms must regulate their operations in […]
Delhi’s Per Capita Income Elevates by 14% to Rs 444,768, Data Demonstrates
The latest edition of the Kejriwal Government’s Statistical Handbook-2023 has revealed a remarkable surge in Delhi’s per capita income, highlighting the city’s economic progress. The per capita income in Delhi has escalated from Rs 3,89,529 to Rs 4,44,768 in the current financial year, marking an increase of over 14%. This remarkable growth signifies a per […]
India Sets New Drug-Making Standards After Deaths Abroad
In the wake of recent reports of India-made cough syrups causing the deaths of dozens of children in Uzbekistan and Gambia, the Indian government has announced new measures to improve the quality and safety of its drug manufacturing industry. India, which is one of the world’s largest producers and exporters of generic medicines, has faced […]
Adani-Hindenburg Case: Supreme Court’s Verdict Closes the Controversy?
Background The Adani Group, one of India’s largest conglomerates, faced a major crisis in January 2023 when Hindenburg Research, a US-based investment research firm, published a report accusing the group of “brazen stock manipulation and accounting fraud scheme over the course of decades”. The report claimed that the group had inflated its share prices and […]
Co-living Startup Settl Secures Rs 10 Crore Investment from Gruhas and Others
Settl, a premium co-living startup, has raised Rs 10 crore in a pre-series A round led by Gruhas, a venture capital fund backed by Zerodha’s Nikhil Kamath and Abhijeet Pai of Puzzolana Group. The round also saw participation from other investors such as We Founder Circle, Anthill Ventures, Inflection Point Ventures, Ah! ventures, Nila Spaces […]
MSME Ministry’s 2023 Report Card: Performance of Key Schemes Analyzed
The Ministry of Micro, Small and Medium Enterprises (MSME) is one of the key drivers of India’s economic growth and social development. The MSME sector contributes about 30% to the GDP, 48% to the exports and provides employment to over 110 million people. The ministry has been implementing various schemes and programs to support and […]
Farmer Assistance and Pulse Self-Sufficiency: Government Launches New Portal
The government of India has launched a new portal to provide assistance to farmers and to achieve self-sufficiency in the production of pulses. The portal was inaugurated by the Home Minister Amit Shah on January 5, 2024, in New Delhi. Portal Features The portal, named as “Pulse India”, aims to provide a one-stop solution for […]
India Boosts Crude Windfall Tax by Rs 1,000; Nullifies Diesel, ATF Taxes
What is the windfall tax? A windfall tax is a levy imposed on domestic crude oil producers and exporters of petroleum products when the global oil prices or refining margins rise above a certain threshold. The tax is aimed at capturing the excess profits of the energy companies and discouraging exports of fuel. What are […]
Mandatory B2B E-invoice Details for E-way Bill Generation from March 1
From March 1, 2024, businesses with turnover above Rs 5 crore will not be able to generate e-way bill without including e-invoice details for all B2B transactions. This is a new rule introduced by the government to ensure better compliance and prevent tax evasion under the GST regime. What is an e-invoice? An e-invoice is […]