Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Footwear major <keyword id="19980586" type="General" weightage="80" keywordseo="bata-india" source="keywords">Bata India</keyword> has received a notice from the <keyword id="19980587" type="General" weightage="50" keywordseo="state-tax-officer" source="keywords">State Tax Officer</keyword>, Anna Salai Assessment Circle, Chennai, amounting to Rs 60.56 crore, the company said in a filing to the bourses on Thursday. The notice dated December 27, 2023, pertains to several issues raised in a final audit report on December 25, for the 2018-19 financial year, according to the filing. The issues raised include differences in turnover on outward supplies in the monthly GST returns, differences in tax on outward supplies in the GSTR-9 &amp; GSTR-9C returns, excess <keyword id="19980589" type="General" weightage="50" keywordseo="input-tax-credit" source="keywords">Input Tax Credit</keyword> (<keyword id="19896958" type="General" weightage="80" keywordseo="itc" source="keywords">ITC</keyword>) availed, and <keyword id="19980588" type="General" weightage="50" keywordseo="itc-reversal" source="keywords">ITC Reversal</keyword> on credit note. The company said it initially received an audit notice on April 27, 2023, and submitted relevant documents in response. Bata India was given a personal hearing on January 10, 2024, to present its case and provide further information on the disputed issues, as per the filing. The company expressed confidence in its ability to defend the case before the authorities concerned. "It is believed that the company has a good case to defend the matters without any material financial impact," Bata India said. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/new-electric-scooter-simple-dot-one-comparison-with-ola-s1-pro-electric-scooter/slidelist/106343351.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/new-electric-scooter-simple-dot-one-comparison-with-ola-s1-pro-electric-scooter/slidelist/106343351.cms" target="_blank">Simple Dot One vs Ola S1 Pro – price, range and features compared</a><a href="https://www.businessinsider.in/business/auto/news/popular-luxury-cars-in-india-in-2023/slidelist/106325299.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/popular-luxury-cars-in-india-in-2023/slidelist/106325299.cms" target="_blank">Mercedes-AMG SL 55 Roadster to Volvo C40 Recharge – The most popular luxury cars in India this year</a><a href="https://www.businessinsider.in/tech/mobile/news/iqoo-12-vs-oneplus-11-vs-samsung-galaxy-s23-the-battle-of-the-affordable-flagships/articleshow/106200031.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/iqoo-12-vs-oneplus-11-vs-samsung-galaxy-s23-the-battle-of-the-affordable-flagships/articleshow/106200031.cms" target="_blank">iQOO 12 vs OnePlus 11 vs Samsung Galaxy S23 – the battle of the affordable flagships</a>

Bata India gets ₹60 crore sales tax notice

Mumbai, May 26 () Benchmark indices Sensex and Nifty failed to cling on to day's highs and settled in the red on Tuesday as investors remained unsure about economic recovery amid mounting COVID-19 cases in the country. Shedding over 574 points from the day's high, the BSE Sensex declined 63.29 points or 0.21 per cent to close at 30,609.30. Similarly, NSE Nifty ended 10.20 points or 0.11 per cent down at 9,029.05. Bharti Airtel was the top loser in the Sensex pack, plunging around 6 per cent, followed by TCS, Bajaj Finance, Sun Pharma, Tech Mhindra, Infosys and Hero MotoCorp. On the other hand, Titan, Ultratech Cement, IndusInd Bank, Nestle India and ITC were among the gainers. Sectorally, BSE telecom, teck, IT, healthcare and energy indices fell up to 4.64 per cent, while metals, consumer durables, utilities, power and auto index ended with gains. Broader BSE midcap and smallcap outperformed benchmarks, rallying up to 1.21 per cent. Sentiment in the Indian market remained volatile despite global markets trading positive. "After opening up by more than 1 per cent, benchmark indices pared gains to close flat, with a negative bias. However, global market cues were positive, on the back of additional stimulus measures and slow reopening of economies globally," Vinod Nair, Head of Research at Geojit Financial Services, said. The unabated rise of infections continues in India, which throws up further uncertainties with regards to extension of lockdown measures, he added. The number of coronavirus cases in India climbed to 1,45,380 and the death toll touched 4,167, as per health ministry data. Globally, the number of cases linked to the disease has crossed 54.95 lakh. Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended significantly higher. Stock exchanges in Europe too rallied up to 1.76 per cent in early deals. International oil benchmark Brent crude futures were trading 1.58 per cent higher at USD 36.09 per barrel. On the currency front, the rupee appreciated 29 paise to close at 75.66 against the US dollar. ANS MKJ

Indices reverse gains on sharp rise in COVID cases

<ul><li>As the entire country continues to be locked in their homes, mother earth is healing herself -- right from greener pastures to clearer skies and reduced pollution. </li><li>To mark <keyword id="18996" type="ORGANIZATION" weightage="20" keywordseo="World-Environment-Day">World Environment Day</keyword>, a few brands took cognizance of this and urged every citizen to imbibe these learnings, reflect upon their actions and as we brace ourselves for the lockdown being lifted, emerge as more conscious beings with focus on a sustainable future. </li></ul>Civilisation today is staring at what can only be called the biggest human challenge. This pandemic has left us thinking, wondering and questioning about all that we have done in the past. The environment is one such area where enough human effort may not be sufficient to reverse the damage caused so far, but a little conscious effort every day, collectively may promise our future generations a safer planet to inhabit, a lot safer than the one we call our home today. Like every year, a few brands have come forward to remind its consumers and fellow companies that sustainability should be prioritised at every household and workplace. Here are a few campaigns that caught our attention: <keyword id="64202" type="ORGANIZATION" weightage="20" keywordseo="United-Nations-Environment-Programme">United Nations Environment Programme</keyword> UNEP (United Nations Environment Programme) under its global theme – ‘Super Year For Nature &amp; Biodiversity’ released a campaign with MoEFCC (<a href="https://www.youtube.com/channel/UCCl94zd6YfuUrv9DJz_5RcA">Ministry of Environment, Forest and Climate Change</a>) conceptualized by Ogilvy. The campaign brought to light the dwindling population of endangered species in India namely, Snow Leopard, Gangetic River Dolphin &amp; Great Indian Bustard. <div type="image" title="Ogilvy_Time-for-nature_Leopard" msid="76217012" hostid="261"></div> Kansai Nerolac Paints Kansai Nerolac Paints digital film extends the thought of Nerolac’s recently launched brand campaign #AajCarefulTohKalColourful and is the third film in the continuing series. Through the digital film, Nerolac aims to raise awareness on the importance of environment conservation for a brighter and colourful tomorrow. Its ‘Aaj Careful Toh Kal Colourful’ with an intent to underline the importance of taking necessary precautions in the current Covid-19 situation to ensure a colourful future. The new thought-provoking film encourages citizens to take positive actions for the betterment of the environment and showcases how people can do their bit by taking small steps such as switching off fans/lights when not in use, conserving water, planting trees, contributing to cleaner air in minimal ways and more. <div type="Youtube" id="aNElLheBep4" title="Stand together for the Environment- Aaj Careful Toh Kal Colourful" thumbUrl="https://i.ytimg.com/vi/aNElLheBep4/mqdefault.jpg"></div> ITC ITC pledged once again to help shape a better, secure, sustainable and inclusive future for the generations to come with a powerful campaign. <div type="Youtube" id="rrSlLqBLPa0" title="ITC - World Environment Day 2020" thumbUrl="https://i.ytimg.com/vi/rrSlLqBLPa0/mqdefault.jpg"></div> Welspun Welspun Group launched a song titled ‘Ek Soch Hai Jaagi’ in collaboration with Kailash Kher to commemorate the World Environment Day. It aims to encourage people to introspect on their role in shaping the environment and steer them to build a better tomorrow. It also celebrates the metamorphosis of nature as it recuperates and replenishes during the lockdown. <div type="Youtube" id="74sbc3RYzzE" title="Ek Soch Hai Jaagi Official Song | Kailash Kher | Welspun Group" thumbUrl="https://i.ytimg.com/vi/74sbc3RYzzE/mqdefault.jpg"></div> Tata Tiscon Tata Tiscon tried to spread the message of building a strong planet through Tata Tiscon Go Green, the brand’s sustainability initiative. ‘Plant for the Planet’, is a digital film conceptualised by Wunderman Thompson South Asia that was released on World Environment day to encourage people to care for and nurture the environment. <div type="Youtube" id="JOppVCz_vws" title="'Plant for the Planet’ for Tata Tiscon Go Green on World Environment Day" thumbUrl="https://i.ytimg.com/vi/JOppVCz_vws/mqdefault.jpg"></div>

World Environment Day: Brands urge consumers to come out of the lockdown as conscious beings and continue following sustainable practices

New Delhi, Apr 19 () The government is unlikely to exempt GST on medical items like ventilators, PPEs, masks, test kits and sanitisers, as it would lead to blocked input tax credit (ITC), thereby increasing the cost of manufacturing and increase the price for consumers. There have been demands from certain sections to exempt GST on certain items like ventilators, personal protective equipment (PPEs), masks, test kits and sanitisers that are essential items for treatment of COVID-19 saying that GST exemption on these items would lead to reduction in prices. Currently, GST rate on ventilator is 12 per cent; on mask, it is 5 per cent; on test kits, it is 12 per cent; on sanitiser, it is 18 per cent; and on PPE, it is 5 per cent (costing up to Rs 1,000) and 12 per cent (if the cost is more that Rs 1,000 per piece). Sources said GST exemption on such items would lead to blocked input tax credit (ITC), thereby increasing the cost of manufacturing and a higher price for consumers. GST exemption on such items would jeopardise the interest of the industry and would not result in any significant gains to consumer, they said adding that in the past, GST exemption on sanitary napkin has led to similar situation for the domestic manufacturers. The sources said that while consumers do not gain from GST exemption on these items, the compliance burden would increase for manufacturers as they would be required to maintain separate account of inputs, input services and capital goods used for manufacture of these items. In case, they are not in a position to maintain separate account, they shall be required to reverse the input tax credit on all inputs/ input services used in manufacture of exempted PPE after applying detailed calculations. Further, exempting these items would lead to blockage of ITC for domestic manufacturer but importers would not suffer any such blockage, the sources added. Earlier this month, the government exempted basic customs duty and health cess on these items (except sanitiser) till September 30. The sources said that while the elimination of customs duty may have been detrimental to domestic manufacturing, it was done to meet the immediate need of such goods to deal with the COVID-19 pandemic, considering that domestic supply may not have been sufficient to meet the increased requirement. JD HRS

Govt unlikely to exempt GST on masks, ventilators, PPEs as it would lead to blocking of ITC

FMCG major <keyword id="6357073" type="ORGANIZATION" weightage="100" keywordseo="ITC">ITC</keyword> scaled up and became the third most valued firm after its shares surged 10 per cent on the Bombay Stock Exchange ( BSE). 
 ITC left <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> and <keyword id="6357149" type="CITY" weightage="100" keywordseo="HDFC-bank">HDFC Bank</keyword> behind. ITC's market capitalisation stood at Rs 2,61,403.46 crore, higher than HDFC Bank (Rs 2,48,946.98 crore) and Infosys (Rs 2,58,291.43 crore). 
 
"Every single Budget, people usually have two trades i.e. they go short on ITC and long on HDFC Bank and, typically, post Budget the trades reverse. I do not think there was anything different this year,” Manish Chokhani, Director, Enam Holdings, told ET. 
 
Reportedly, the combined market capitalisation of five most-valued BSE-listed companies stood at Rs 15,35,128 crore. 
 
(Image: Reuters)

Neither Infosys nor HDFC, this FMCG company is now India’s 3rd most-valued firm

Shares of <a href="http://www.businessinsider.in/searchresult.cms?query=ITC&amp;sortorder=effectivedate">ITC</a> rose by 4 % and this help the company to become the third most valued company based on <a href="http://www.businessinsider.in/searchresult.cms?query=BSE&amp;sortorder=effectivedate">BSE</a> leaving behind <a href="http://www.businessinsider.in/searchresult.cms?query=HDFC+Bank&amp;sortorder=effectivedate">HDFC Bank</a>. 
 The stock rose 3.78 % intraday to a high of Rs 279.90 and this helped the company in hitting a market capitalisation of Rs 3.4 lakh crore, which landed the company on the third spot on the m-cap ladder. <keyword id="6357149" type="CITY" weightage="20" keywordseo="HDFC-bank">HDFC Bank</keyword> (Rs 3.30 lakh crore) was trading with a negative bias at that point. 
 However, the trend reversed soon after and at Rs 3,30,679.14 crore, the market value of <keyword id="6357073" type="ORGANIZATION" weightage="20" keywordseo="ITC">ITC</keyword> just before noon was less than <keyword id="45123" type="CITY" weightage="100" keywordseo="HDFC">HDFC</keyword> Bank's Rs 3,31,425.55 crore m-cap. 
 
ITC has risen 13.24 per cent in the past one month compared with HDFC Bank's 8.24 per cent rise.

This company just dethroned HDFC to become 3rd most valued company

<ul class="summary-list"><li>US regulators said that Apple violated patents with its popular watches.</li><li>The decision means an impending sales ban on the watches, which Apple attempted to delay.</li></ul>Apple's attempt to delay a US sales <a target="_blank" href="https://www.businessinsider.com/apple-halting-sales-series-9-ultra-2-watch-united-states-2023-12">ban on its Series 9 and Ultra 2 watches</a> was rejected by regulators on Wednesday, leaving the chance to reverse the ban up to President Joe Biden.In October, the US International Trade Commission (ITC), which oversees trade and intellectual property disputes, sided with an earlier ruling by an ITC judge that said Apple violated patents belonging to a medical tech company called <a target="_blank" href="https://markets.businessinsider.com/news/stocks/itc-judge-rules-apple-violated-u-s-laws-by-infringing-masimo-pulse-oximeter-patent-1032010887">Masimo</a> with its blood oxygen tracking functionality in some of its watches.Apple previously said it disagreed with the ITC's findings but announced plans on Monday to preemptively pull its <a target="_blank" href="https://www.businessinsider.com/guides/tech/apple-watch-series-9-review">Series 9</a> and <a target="_blank" href="https://www.businessinsider.com/guides/tech/apple-watch-ultra-2-review">Ultra 2</a> watch lineup from US shelves. Those plans appear to be moving ahead after the ITC denied Apple's attempt to delay the ban, according to a <a target="_blank" href="https://www.usitc.gov/secretary/fed_reg_notices/337/337_1276_notice12202023sgl.pdf">notice</a> filed by the commission on Wednesday.The last day to purchase the Series 9 and Ultra 2 watches online is December 21. Retail stores will stop selling the models outright on December 24. Third-party sellers such as <a target="_blank" href="https://www.businessinsider.com/how-best-buy-limits-retail-theft-2023-8">Best Buy</a> or <a target="_blank" href="https://www.businessinsider.com/amazon-failures-at-retail-fresh-grocery-style-fashion-2023-12">Amazon</a> can continue selling the watches until supplies run out.While Apple has said it will appeal the decision, which could take more than a year to resolve, the company's most immediate hope to reverse the ban before Christmas Day lies in the hands of the White House.The Biden administration had 60 days since the ITC order was issued on October 26 to veto the decision; the review period will expire on December 25.But a last-minute intervention from Biden is unlikely, experts say."Historically, presidents have used disapproval authority only five times since the ITC's formation (in 1916)," attorneys with <a target="_blank" href="https://www.milbank.com/a/web/6670/11-10-2011-Seeking-Disapproval-Presidential-Review-Of-ITC-Orders.pdf">Milbank LLP</a>, an international corporate law firm, wrote in 2011.The sixth time an ITC ruling was reversed was in 2013, when <a target="_blank" href="https://www.businessinsider.com/obama-vetoes-ban-on-iphone-and-ipad-2013-8">President Barack Obama</a> vetoed a decision to ban some iPhone and iPad models.A veto usually requires a company to prove that there is a public interest or that it's a health policy matter, <a target="_blank" href="https://www.theverge.com/24006607/apple-watch-series-9-ultra-2-itc-import-ban">The Verge</a> reported.Apple also has been looking for workarounds through software updates, sources familiar with the matter told <a target="_blank" href="https://www.bloomberg.com/news/articles/2023-12-18/apple-plans-rescue-for-17-billion-watch-business-in-face-of-ban">Bloomberg</a>.Since the Apple Watch was introduced in 2015, the product quickly rose to prominence and held about 30% of the global smartwatch market in 2022, according to <a target="_blank" href="https://www.statista.com/statistics/1296818/smartwatch-market-share/">Statista</a>.The ban will likely amount to <a target="_blank" href="https://www.businessinsider.com/apple-watch-ban-could-cost-the-company-400-million-sales-2023-12">$300 to $400 million in losses</a> in holiday-season sales — a small scratch compared to the $120 billion the company is expected to rake in between October and December.An attorney and spokesperson for Apple did not immediately respond to a request for comment.

You Searched For "itc reversal" and got 7 results

Bata India gets ₹60 crore sales tax notice

PTI

Indices reverse gains on sharp rise in COVID cases

PTI

World Environment Day: Brands urge consumers to come out of the lockdown as conscious beings and continue following sustainable practices

BI India Partner

Govt unlikely to exempt GST on masks, ventilators, PPEs as it would lead to blocking of ITC

PTI

Neither Infosys nor HDFC, this FMCG company is now India’s 3rd most-valued firm

BI India Bureau

This company just dethroned HDFC to become 3rd most valued company

BI India Bureau

Apple can't delay the US sales ban on some of its watches, regulators said. Only Joe Biden can stop it now.

Lloyd Lee

Popular Keywords

Buying Guides