The Economic Times GST lens on bank arms using parent's brand name, log or tagline
The tax department has told the banks in recent meetings that if a mutual fund unit uses any brand components, it should pay royalty or similar fees to the parent and 18% GST has to be paid on that amount.
The Economic Times Mittal family's plan to buy Airtel stake from Singtel hits valuation bump
Singtel has been a shareholder in Bharti Airtel since 2000. The Mittal family and Singtel own 50.56% and 49.44%, respectively, in Bharti Telecom, which, in turn, holds a 35.85% stake in Bharti Airtel.
The Economic Times Govt asks companies to slash edible oil prices by ₹10 per litre
Cooking oil prices have ruled firm for the past two years, setting new record highs. This is one of the reasons for consumer price inflation staying at uncomfortable levels.
The Economic Times Generics of MSD diabetes pill set to flood market as patent expires
According to market research firm AIOCD, at least 50 Indian drug makers are jumping into the fray with around 100 generic versions of the popular anti-diabetes medication, leading to a likely price war.
The Economic Times Handset launches slow down in June on weak demand
While there were 40 new models launched in April and May, only nine new models were launched in India in June, signalling a sharp reduction in the number of new offerings. Brands are stuck with weeks of inventory in their warehouses after the online channels reduced intake of supplies, according to Counterpoint Research.
The Economic Times FMCG, electronics companies' margins set to improve soon
Company executives and analysts said they expect margin pressures to ease off, but added that they are closely monitoring macro and geopolitical risks and that sustainability of the downward revision in these commodities remains crucial.
The Economic Times Cisco in talks to buy Airtel-Vi JV FireFly Networks for Rs 200 crore
The Airtel-Vodafone Idea JV was set up in 2014 and named FireFly Networks. However, industry insiders claim the collaboration failed to take off as neither of the partners committed investments to the company. Cisco is likely to retain the existing management of FireFly Networks, which is led by its chief executive officer Raj Sethia, a former Vodafone executive, according to sources cited earlier.
The Economic Times Indian Overseas Bank seeks buyers for 344 bad loans
Aban Holdings has outstanding loans of ₹1,271 crore, the largest account on the list. Two Essar companies are Essar Oil & Gas Exploration with ₹77.8 crore outstanding, and Essar Power Gujarat with ₹148 crore. Other big-ticket accounts include Rotomac Global with loans of ₹750 crore, Frost International with ₹839 crore, Era Infrastructure (₹567 crore) and Vadraj Cement (₹521 crore).
IDBI always had more corporate exposure but since PCA (prompt corrective action) was imposed, partly due to force and partly by choice, we shifted to retail; as a result, we are now 63% retail on the asset side. Home loans and loans against properties make up 37% of our loan book, chief executive Rakesh Sharma says.
The Economic Times Airlines seek clarity on export tax on petroleum products
The higher levy aggravates cost pressures on airlines already reeling under soaring prices of aviation turbine fuel (ATF) that have set record highs several times this year. The charge also adds to what were already the highest levels of ATF taxes anywhere in the world.
The Economic Times Nawazuddin Siddiqui voices Mirchi Plus' new true-crime audio show
The combination of Siddiqui's captivating narration, the remarkable music, and the background score, which is an original composition by Mirchi, makes for an immersive audio experience for the listeners, the company said. "We hope it'll be a treat for those who love crime and thrillers," said Indira Rangarajan, national content director, ENIL, Mirchi. "This is the first in the line of exciting audio shows we have in store for our audiences. Watch this space."
The Economic Times At 70%, thermal capacity utilisation highest in a decade in April-June
Thereafter, the utilisation rates, known as 'plant load factor' or PLF, declined to 68% in FY14 due to higher availability of power as new projects were commissioned. The PLF in the first quarter of FY20 (pre-Covid-19) fell to 63% owing to higher generation capacity and lower electricity demand due to the economic slowdown. The utilisation rate in the first quarters of Covid-affected FY21 and FY22 was 47% and 59%, respectively.
The Economic Times Women make up a third of IIMs' flagship course batch
The flagship two-year PGP class of 2024 across IIMs like Bangalore, Calcutta, Indore and Kozhikode has at least 30% women - about the same as the class of 2023 - as they have almost wrapped up the admission process for the incoming PGP batches, officials at the institutes told ET.
These discussions on rationalising the coal movement have been taking place over the last 15 days. Shipping ministry officials said coastal shipping routes have been proposed to ease the congestion on railway lines and rake shortages during peak demand seasons.
The Economic Times Hotels cannot forcibly collect service charges from customers, says senior official
"Charging service charges from customers will now cost the hotel and restaurant owners. If a customer wants to pay a service charge of his own free will, then it is a different matter but hotel owners cannot forcibly collect service charges from customers," Additional Secretary in the Government of India (Consumer Affairs), Nidhi Khare said.