Textile mills ask PM for fixed 5% GST

Tamil Nadu textile mills have approached Prime Minister Narendra Modi to ask for a fixed levy of 5% under the new GST scheme. More than 471 mill owners have written to the PM’s office via the My Government portal in this regard. Prabhu Damodaran, the secretary of the Indian Texpreneurs Federation, said that while has […]

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high value cash transactions

Ban on High Value Cash Transactions

In India, tax evasion has become the norm for many people. The amount of domestic black money is huge which adversely affects the revenue of the Government creating a crunch for various welfare programmes. It creates undue pressure on the honest tax payers. Black money is generally transacted in high value cash transactions. A large amount […]

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GST and the E-com sector: Virtual rivals unite to ask for help from FICCI

The latest news from the Indian e-com sector is that traditional rivals Amazon, Flipkart, and Snapdeal have united together to approach FICCI (Federation of Indian Chambers of Commerce and Industry) and present a joint front against the proposed GST. Representatives from these companies had met with a panel of state finance ministers in August, 2016, when they […]

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