BUSINESS
Vinod Kannan takes over as Chief Executive of Vistara
"Kannan started his stint with Vistara as the Chief Strategy Office in June 2019 and took over as Chief Commercial Officer in January 2020 with responsibility for developing, executing, and sustaining Vistara's corporate strategy and ensuring the airline's commercial success," a statement said.
Increased imports, IT raids fuel GST collection
In December 2021, revenues from imports were 36 per cent higher, and the revenues from domestic transactions (including import of services) were 5 per cent higher than the revenues from these sources collected during the same month of 2020.
Before New Year celebrations, 46.11 lakh filed ITR
Bajaj had announced that the government will not extend the due date for ITR filing, as it did in 2020 when the ITR filing due date was extended till January 10, 2021, which witnessed 31.05 lakh ITRs being filed on the last date. In 2020-21, the total number of ITRs filed was 5.95 crore, a bit higher to 2021-22, which stood at 5.89 crore.
Swiggy receives 9,500 orders per minute on New Year's Eve
The company claimed that this is the highest ever for food delivery in India. "This year we exceeded all our plans by a big margin and were overwhelmed by the customer response. OPM reached almost 9,500 level by early dinner itself, which is almost 1.7x of last year's peak," the company said in a statement. "As the evening progressed, we saw a 177 per cent jump in the number of active users on the platform," it added.
Already at pre-Covid level in India, US transits should accelerate growth: Virgin Atlantic
At present, India has entered into 'Air Bubble' agreements with several countries including the UK. In a conversation with IANS, Alex S. McEwan, Country Manager, South Asia for Virgin Atlantic, cited that India operations of the airline are already at pre-Covid levels. "But the growth in our services from the UK to USA will offer even more connectivity and choice to Indian customers when travel restrictions permit," McEwan said.
Swiggy, Zomato to pay 5% GST from today as new rules come into effect | Here're details
The GST council justified the new 5% tax on online food aggregators, arguing that such a move will reduce instances of tax invasion by restaurants. The council meeting notification read that “services by cloud kitchens/central kitchens are covered under ‘restaurant service… under section 9(5) of the CGST Act, 2017’,” will attract this tax rate increase minus the input tax credit.
India gets 1st unicorn of 2022 in Mamaearth parent Honasa
Along with launching new brands, Honasa Consumer Pvt Ltd said that it will continue to aggressively expand distribution for existing brands -- Mamaearth and The Derma Co. -- and explore strategic inorganic growth opportunities in the beauty and personal care segment.
Renewables power Nov all-India electricity generation
Accordingly, the total all-India generation increased marginally by 2 per cent to 99.4BU (billion units) in November 2021. "The overall increase in generation was, however, supported by a 16.4 per cent YoY increase in the generation from renewable sources and a 16 per cent YoY rise in generation from hydro power sources," Ind-Ra said. "Whereas, the generation from coal-based thermal power plants reduced by 0.3 per cent YoY."
Govt asks Apple to manufacture goods worth $50 billion/year in India over next 5-6 years: Report
According to the report, a high-level meeting was held between top government officials and the senior functionaries from Apple. The iPhone maker company was asked to develop India as a global sourcing base and manufacture fully-built products in the country that could later be exported from India to countries across the world, similar to its operations in China.
Firm dealing in cryptocurrency fined Rs 49.20 crore
"The GST of Rs 40.5 crore was not paid. Along with interest and penalty, on December 30, a total of Rs 49.2 crore has been recovered from WazirX," a GST official said. "WazirX exchange is managed by Zanmai Labs Pvt. Ltd and cryptocurrency WRX is owned by Binance Investment Co. Ltd, Seychelles. The Goods and Services Tax (GST) officials also found that the rate of commission was different for both the transactions.
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