Category: Corporate

The changes relating to GST rate, in pursuance of recommendations made by the GST Council in its 47th meeting, came into effect from today, 18th of July, 2022. One such change is moving from imposition of GST on specified goods when bearing a registered brand or brand in respect of which an actionable claim or enforceable right in a court of law is available to imposition of GST on such goods when “pre-packaged and labelled”. Certain representations have been received seeking clarification on the scope of this change, particularly in…

Beating past records, the Centre has procured 2.50 lakh tons of onion for the buffer in 2022-23. The onion buffer size in current year is 0.50 lakh tons higher than the 2.0 lakh tons created during 2021-22. The onions were procured from current rabi harvest for the price stabilisation buffer. The stocks have been procured by National Agricultural Cooperative Marketing Federation of India (NAFED) from farmers through the Farmer Producer Organisations (FPOs) in rabi onion growing states of Maharashtra, Gujarat and Madhya Pradesh. The stocks will be released through targeted…

French aerospace major, Safran has announced that it will set up its first aircraft engine maintenance, repair and overhaul (MRO) facility in Hyderabad at a cost of Rs 1,200 crore. It will also reportedly be the group’s larget MRO shop globally. French aerospace major Safran announced its decision to set up their largest and first aircraft engine MRO (maintenance, repair, and overhaul) facility in Hyderabad. The facility will be set up with an investment of Rs 1200 crore ($150 million) and is expected to create about 1,000 high-skilled jobs in…

A three-day “Grand Hackathon” organized by the Open Network for Digital Commerce (ONDC) in collaboration with NABARD, has been launched virtually by Union Minister Piyush Goyal today. This was a hybrid event with the physical event held at the Bombay Stock Exchange in Fort, Mumbai.  The “Grand Hackathon”, is subdivided into two categories; Agri Grant Challenge and Agri Innovation Hackathon that will showcase the innovations to aid the adoption of eCommerce in the agricultural sector. Speaking on the occasion, Shri Goyal said, “The ONDC-NABARD Grand Hackathon being launched today will serve as…

An ONGC helicopter with nine people on board made an emergency landing near an oil rig in the Arabian Sea on Tuesday. An Oil and Natural Gas Corporation (ONGC) helicopter with nine people on board made an emergency landing near an oil rig in the Arabian Sea on Tuesday. All people have been rescued, ONGC said. The helicopter mishap occurred around 11:50 am, about 60 nautical miles west of Mumbai, near ONGC’s Sagar Kiran offshore rig. A total of nine people, including seven passengers and two pilots, were on board…

Bureau of Indian Standard, National Standard Body of India, has published standards for Test Specifications for Lithium-ion Traction Battery Packs and Systems (Performance Testing) for Electrically Propelled Road Vehicles. The standard IS 17855: 2022 for these battery packs and systems is harmonized with ISO 12405-4: 2018. This standard incorporates the test procedure for basic characteristic of performance, reliability and electrical functionality for the battery packs and system for either high power or high energy application. This standard is formulated considering real life scenarios for an electric vehicle such as vehicle…

The frontline equity indices on the BSE and National Stock Exchange (NSE) continued their recovery for the second consecutive day, rising nearly 1 per cent amid a positive trend in the global markets. Benchmark Sensex and Nifty rose by nearly 1 per cent on Friday, extending gains for a second straight day on the back of buying in auto, banking, and energy stocks in line with firm global trends. The 30-share BSE Sensex advanced further by 462.26 points or 0.88 per cent to settle at 52,727.98 as 23 of its…

Besides the financial implication of the move, no central agency is equipped to handle recruitment of this scale in such a short time period Prime Minister Narendra Modi’s ambitious jobs push—the filling of one million government vacancies over the next 18 months—has not come a day too soon. The jobs market in India has been contracting since the pre-pandemic days. Promising now to enlist a million prospective government employees by the end of 2023 is being seen by many as timed with the Lok Sabha election the following year, which…

Hyundai has launched the 2022 Hyundai Venue in India. The new Hyundai Venue takes on the likes of the Tata Nexon, Maruti Suzuki Vitara Brezza, Renault Kiger and the Nissan Magnite amongst others. Here are all the details. The new Hyundai Venue then gets a midlife facelift and a lot has changed as compared to the outgoing model. The new Hyundai Venue will take on the likes of the Tata Nexon, Maruti Suzuki Vitara Brezza, Renault Kiger and the Nissan Magnite and even the soon-to-be-launched Citroen C3. 2022 Hyundai Venue:…

Prime Minister Narendra Modi has directed various government departments and ministries to recruit 10 lakh people in a “mission mode” in the 1.5 years. Prime Minister Narendra Modi has directed various government departments and ministries to undertake the recruitment of 10 lakh people in a “mission mode” in the next year and a half, the PMO said on Tuesday. The direction from PM Modi came following a review of the status of human resources in all government departments and ministries, his office said. The government’s decision comes amid the opposition’s…