The Indian government could soon mandate a QR code-based payments option that would use a united payments interface in stores across the country and would be eligible for goods and services tax benefits.
Titan Company witnessed a 14 percent surge in its net profit at Rs 348 crore ($50 million) for the fourth quarter of 2018-19 as against Rs 304 crore it had posted in the corresponding period last fiscal.
London-listed Koovs, the fast fashion e-tailer that targets the Indian youth market, had good news Tuesday as it updated on its trading performance in the year to March 31 and also shared details on extra funding.
The government is considering a proposal by the Central Economic Intelligence Bureau to bring fake goods and services tax invoices under the Prevention of Money Laundering Act which would incur higher punishments.
Effective from June 21, couriers that fail to fill in goods and services tax returns for two months in a row and businesses that fail to do so for six months will be barred from generating e-way bills.
The Directorate General of Anti profiteering found the fast moving consumer goods brand P&G India guilty of “profiteering” around Rs 250 crore by not passing on goods and services tax rate cut benefits to consumers.