Amazon and Flipkart are updating their systems to help sellers pass on GST rate reduction benefits to customers starting September 22. Amazon stated they are proactively updating systems with revised GST codes for seamless compliance. Flipkart has also asked sellers to revise prices and update tax codes.
Following Awfis’ successful debut, the Indian co-working space market is gaining traction with more IPOs on the horizon. Smartworks and IndiQube Spaces have already followed suit, and WeWork India is expected to launch its IPO soon, aiming to raise ₹4,000 crore.
The GST Council has eased compliance for businesses, particularly FMCG companies, by removing the requirement to link credit notes to specific invoices. This change addresses a long-standing pain point, especially for products with short shelf lives, and aligns GST provisions with standard business practices.
Car dealers in India are seeking government and automaker assistance to manage approximately Rs 2,500 crore in unadjusted GST cess. With a large inventory accumulated for the festive season, dealers face potential losses and working capital disruptions due to the removal of the cess.
Indian urban households are predicted to significantly increase online shopping this festive season, driven by recent GST rate reductions on white goods and electronics. A LocalCircles report anticipates a 115% surge in online shoppers, with overall festive spending projected at Rs 2.19 lakh crore. While physical stores remain relevant, convenience and better prices are drawing…
Eight key OPEC+ members, including Saudi Arabia and Russia, plan to increase oil production by 137,000 barrels per day starting next month, despite sliding oil prices and concerns about oversupply. This decision signals a shift towards prioritizing market share over price support, surprising markets and raising questions about the alliance’s unity amid geopolitical tensions and…
Food delivery in India is becoming more expensive as Zomato, Swiggy, and magicpin have increased their platform fees just before the festive season. Additionally, an 18% GST on delivery charges, effective from September 22, will further raise the cost of ordering food online. These changes raise concerns about the affordability and convenience of food delivery…
US Treasury Secretary Scott Bessent has urged the European Union to join the US in increasing pressure on Russia, hinting at potential tariffs on nations buying Russian oil. The Trump administration has already imposed significant tariffs on India for its Russian oil trade.
India’s diaspora, the world’s largest at 3.43 crore, is significantly concentrated in ten countries, with the US and UAE leading. While the Gulf region remains a hub for NRIs, PIOs are largely based in Western nations. Remittances from the diaspora hit a record $135.46 billion, highlighting their economic impact.
Prime Minister Modi’s China visit, coupled with GST rate cuts, has sparked optimism for Indian equities to narrow their performance gap with emerging markets. Improved Sino-Indian relations could attract investments and expertise, potentially offsetting US tariff impacts. Policy easing by the Reserve Bank of India and GST reductions further support India’s investment outlook.
