Market and Business News

- Sales Tax - Soham Mashruwala The GST law is to be framed and then the government will issue circulars and clarify it from time to time. The dispute over the rate of tax is huge when more than one good or service or both are supplied at the same time. Composite supply and mixed supply have been defined under GST law. Pursuant to this, the type of supply will be considered according to the condition of a supply transaction and the rate of tax on the supply will be charged accordingly. A circular has been issued by the government in this regard. No. 2013/13/2023- GST dated 1.8.2023 which is discussed in today's article. Article 2(30) Composite supply is defined in section 2(30) according to which a composite supply is a supply made by a taxable person to a recipient which consists of goods or services or both or any combination of goods and services and is naturally bundled and generally a The supply shall be deemed to be in conjunction with the other and the rate at which the ...

India, being the fastest growing e-commerce market in the world, is witnessing rapid changes in terms of business. This movement led to the rise of direct-to-consumer (DTC) companies catering to the specific needs of consumers. The Indian DTC market is currently valued at approximately $12 billion and is expected to grow at a rate of 40 percent to cross $60 billion by 2027. This has increased in importance as more and more people across the country are adopting e-commerce. These DTC companies relied on e-commerce marketplaces to reach millions of customers across the country. But now DTC companies are migrating from large e-commerce marketplaces. These companies range from developing platforms (websites and apps) to offering personalized service through social media. This enables them to connect directly with customers and be efficient on the cost front. India's economic growth will be 8% in Q1 of FY23 The economic growth rate in the first quarter of the current financial year m...

- Antenna - Vivek Mehta - NAFED has started selling onion from E-NAM portal due to the fear of a big jump in onion prices in the month of September. There is a bigger panic in the government than in the people due to the fear that there will be a big jump in onion prices in September. Onion price per kg is currently Rs. It is around 35. However, the government has already started the sale of onions through the Inam-portal through NAFED so that its prices do not increase like tomatoes and the public does not pay fish on the government's head. On the other hand, the government has imposed 40 percent export duty on onion exports. The government wants that the supply should not fall domestically and its prices should not go up. That is why 32,500 kg of onions were sold in a day on e-name portal. This is an effort to ensure that the price of onion does not rise beyond limits and the government is not put in trouble. The Consumer Affairs Department of the Central Government uses its P...

- Chart Indication - Ashok Trivedi BSE index (close 64886.51 on 25-08-23) is soft from a top of 67319.17. Currently the 12 day average is 65420.11 and 48 day average is 65049.56 and 200 day average is 62116.82. Daily MACD is bearish. The weekly MACD is bullish. Shows oversold position on daily and weekly basis as well as overbought position on monthly basis. Above 65106 above 65182, then 65624, 65914 resistance level is considered. Below 64372, below 64670, 64640, 64340, 64040 is possible. Monthly expiry is this week. There will be fluctuations depending on the scrip. IRCTC (closing price Rs.658.25 on 25-08-23) is in favor of correction from the bottom of 612.38. Currently, the 12-day average is 648.53, the 48-day average is 637.81, and the 200-day average is 640.18. Daily and weekly MACD are bullish. It shows neutral position on daily and weekly basis and overbought position on monthly basis. Above 665 above 678, if possible up to 688, 701, 715. 640 below 648 is considered as suppo...

- A group is taking shape that will directly challenge US interventionism - BRICS nations account for 46 percent of the world's population, 25 percent of exports, 43 percent of crude oil production and a third of GDP. In the excitement of celebrating the success of Chandrayaan 3, the discussion of an important global event of this week has been sidelined. In 2009, five countries namely Brazil, Russia, India, China and South Africa established a group of nations after the report of the BRICS countries that came with the prediction that the Goldman regime would become an economic superpower. This group was established to maintain greater coordination, economic and social harmony among the members of these countries. A meeting of the heads of these nations was held on Thursday and it has been agreed to accept Iran, Saudi Arabia, Egypt, Ethiopia and the Arab Emirates as new members. Every decision of BRICS is in the constitution to be taken by consensus and therefore it can be said ...

- Boolean Bits - Dinesh Parekh - Mixed signs of interest growth in America: China's dominance in the world market was seen in gold: 200 tons of goods were bought in six months! Against the black market, investors are holding on to gold at low prices, waiting for a rate cut until the Fed's rate hike cycle completes, and ignoring any sign of a rate hike, entered a bullish circle and broke through $1,900 an ounce on the New York Comex market on Thursday, 21- 21 dollars per ounce shows a jump. It supported a reactionary gold price correction as Treasury bill returns fell and investors shifted to the precious metal instead of Treasury bills. Fed Chairman Jerome Powell and European central bank chiefs will look at prices signaling interest rate cuts as early as 2024. The Fed's rate hike policy will pave the way for gold prices, with China's ninth consecutive spot gold purchase pushing prices higher in the global market. China has bought 74,000 ounces of its gold reserves...

A total turnover of Rs.4,85,250.2 crore was recorded in 62,77,293 trades in various commodity futures, options and index futures on the country's leading commodity derivatives exchange during the week of August 18 to 24, with commodity futures accounting for Rs.94, 837.79 crore and the share of options was Rs.3,90,213.78 crore. It may be mentioned here that during the week on Wednesday, August 23, an all-time high daily notional turnover of 2,275.74 tonnes worth Rs.16,653.51 crore was recorded in silver options contracts. During the week under review, 8,88,893 trades worth Rs 54,589.47 crore were transacted in gold-silver futures of precious metals. Among gold futures, gold October futures opened at Rs.58,370 per 10 grams at the beginning of the week, touched an intra-day high of Rs.58,895 and a low of Rs.58,281 during the week, ended the week by Rs.521 at Rs.58,811. had arrived Against this, Gold-Guinea August contract 8 per gram fell by Rs.207 to Rs.47,245 and Gold-Petal August...

- Industrial guidance - Dhiru Parekh Magnesium-Mg is a metallic element. It is a silvery, moderately hard alkaline-earth metal. All of which can be fabricated with strong reducing agents and aluminum type electrical conductivity. Magnesium is the central element of the chlorophyll molecule. It is a special component of the red blood corpuscle (the ultrafine substance of the water body). Spec.Grey.1.74, melting point 650°C, boiling point 1107°C. Soluble in water. 1. Source :- Magneside and dolomite, from sea water or brine. 2. Derivation :- (1) Electrolysis of fused magnesium chloride. (2) Reduction of magnesium oxide with ferrosilicon. 3.Magnesium :- Fine powder of 99.5% purity, which is available in the form of bars, seats, rods, plates, tubing, ribbons, flakes. 4. Hazards :- (Solid metal) which is a component that burns at 650 degree Celsius. Dangerous flammable fire risk, sand or talc can be used as fire controller. 5. Uses :- Can be used in aluminum alloy parts, die-cast, au...

- The Conundrum of Economics - Dhaval Mehta - Now no one rears goats to meet the demand for milk. All drink dairy milk Despite being the second largest country in the world in terms of national income after the US (population 34 crores), China has a population of 142 crores, there is a huge difference in average per capita income between the two countries. In 2022-2023 the average annual per capita income of USA is 76,399 dollars and where is the average annual per capita income of China is 13721 and where is the average annual per capita income of Putin's Russia which has slipped into power is 14,403 dollars and Jagadguru India is only 2601 dollars and Pakistan is only 1658 dollars? Remember that when we got independence in 1947, China was a poorer nation than us. Mao gave China his doctrinal Red Book as the Bible of Christendom, and China was devastated. Mao's recommendation that every Chinese citizen should have a small steel factory in his backyard and produce large qua...

- After the 1990s reforms, private sector intervention increased and sectors like banking, finance and civil aviation also gained momentum. If India becomes the third largest economy in the world, it will be a remarkable achievement. Economic growth in India has been a topic of discussion in the last three-four decades. The pace of economic growth increased from 2.5 percent in 1970 to 5.5 percent in 1980. A middle class emerged during this time. This led to demand for many types of consumer goods. It included everything from daily use items to durable goods. The automobile industry also benefited greatly and saw a flurry of models ranging from small cars like the Maruti to modern two-wheelers. The next phase began in the 1990s when the infotech boom and a period of technological change began. India's economic engineering labor force went to work abroad. There were also changes in the patent system etc. and these changes only provided an opportunity for the pharmaceutical industr...

- India has sanctioned Rs 174.9 billion this year to promote green hydrogen India has allocated 174.9 billion rupees (about $2.13 billion) this year to promote the use of clean energy called green hydrogen. The goal is to reduce carbon dioxide emissions. India also wants to become the largest exporter in the region by selling green hydrogen to other countries. Indian companies like Reliance Industries, Indian Oil have big plans for green hydrogen, which is produced using renewable energy. According to sources, when projects work to reduce harmful gases that contribute to climate change, they get carbon credits. Each carbon credit represents a reduction of one ton of carbon dioxide. By trading these credits, one can bring in more investment and earn more profit by selling them. Currently, India is talking with Japan about this. On March 17, Japan and India agreed to work together to reduce carbon emissions. He signed the Paris Agreement. This agreement was made under Article 6 of the...

- Smile Index - Vanity - Our car safety standards should also include strength to withstand water inundation As word spread that the government was bringing India's own isolated car safety standard, a garage mechanic, an engineer from an automobile company, an RTO officer, a traffic police officer, a car insurance agent all set out in an SUV for a 'long drive pay discussion'. RTO official: Whatever standard comes, our license or vehicle passing standard will not change. The work of the agent will be quick. All others will scramble. Traffic Police: Let it come. Let there be as many new laws as there are. We have to pay more money for change at the post where more cars pass through. what else Garage Mechanic: If the RTO gives driving license only to the properly informed and the traffic police keeps a watch on the reckless drivers, then no car needs safety standards. Then the box car is also safe. RTO Officer: Two guys, don't throw. Look, in foreign RTOs, the traff...

The Reserve Bank of India has announced the launch of a pilot project for a public tech platform for frictionless credit through its wholly owned subsidiary, the Reserve Bank Innovation Hub. The public tech platform will enable frictionless delivery of credit by facilitating seamless flow of digital information required by lenders, the RBI said. Information will be presented in terms of both access and use cases of providers. The platform is intended to be introduced as a pilot project in a calibrated manner in terms of both outreach to information providers and use cases. It will bring efficiency to RBI's lending process in terms of cost reduction, faster disbursement and scalability. The end-to-end digital platform will have an open architecture, open application programming interfaces and standards, with which all financial sector players can seamlessly connect in a 'plug and play' model. Barriers to 5G, 6G roll out in India Telecom industry body Cellular Operators As...

- Lokabhimukha Guidance - H.S. Patel IAS (Retd.) - It is necessary to enact a comprehensive law for stray cattle Now-a-days most public safety wise no pedestrians, citizens moving on public roads are safe and all publicity/broadcasting media are broadcasting death/accidents caused by stray cattle. But due to the lack of concrete action by the rulers and administration in this matter, the menace of stray cattle continues. Instructions / Orders are issued by the High Court from time to time. But lack of long-term implemented policy does not lead to permanent solutions. I have been receiving suggestions from many readers of this column that what is the root cause of the stray cattle problem and what permanent solutions can be brought to the attention of the general public and what can be done by the rulers to guide them. First of all, from a social/economic perspective, the Cattle Trespass Act-1882 enacted during the British rule is still in existence today. The background to the enac...

Image: IANS Tesla and SpaceX CEO Elon Musk is impressed at the way Indian-origin people have taken over as CEOs of most of the top tech companies, as well as some of the non-tech organizations, and the list is only growing. By holding top positions, the Indian-origin people are earning millions of dollars which puts them among the highest paid CEOs in the US. When the World of Statistics posted on X (formerly Twitter) the list of Indian-origin people at top companies, Musk reacted on Aug 25: “Impressive”. His followers reacted, saying "Indians are some of the hardest working people". India is even the “CEO of Moon's South Pole,” a Musk follower chuckled, after the country successfully landed its Chandrayaan-3 Moon mission. Currently, Sanjay Mehrotra is the CEO of Micron Technology; Shantanu Narayen is the CEO of Adobe; Satya Nadella is Chairman and CEO of Microsoft; Sunder Pichai is the CEO of Alphabet and Google; Jay Chaudhry is the CEO of Zscaler which is a cloud...

- Commodity Current - Jayavadan Gandhi In the country including Gujarat, the rains in the month of August have not gone beyond the farmers' concern to save the kharif crops. A situation is emerging which has serious effects on the production of cotton, groundnut, paddy, sugarcane, castor, millet and animal fodder. Farmers have demanded to increase power supply in Gujarat. However, as per agriculture reports, kharif sowing of cereals, oilseeds has increased on average, but kharif sowing of pulses has declined by about eight to ten percent, changing the demand-supply equations. Apart from this, as the sugarcane required for sugar production is planted the most in Maharashtra, Uttar Pradesh, Karnataka, due to the fear of reduction in production due to lack of rains, the process of raising sugar has been started before the inflation of sugar rises. The consumption of sugar in the country is increasing day by day. In order to avoid a commotion in the supply of sugar before the electi...

- Bhoo Bazar : Dilip Shah - Opinions on chickpea crop estimate: Govt estimate high while traders fear low crop! The tides in the country's agriculture sector have recently seen a reversal. As the domestic demand is high against the production of various pulses in India, the country has to depend on the import of various pulses. Recently, wheat, rice, tomato, onion Vs. After the price of commodities has gone up, now the prices of pulses have been seen going up in the pulses market as well. After the recent increase in the prices of Tuvar and Tuvardal, there was a concern in the government as the prices of Udd and Udddal and Chana and Chandal also increased and the prices went up around the festivals. The prices of chickpeas started increasing in the country's pulses market from the beginning of July. However, according to government sources, the production of chickpeas has increased significantly in the country and even though the crop of chickpeas has increased to around 135...

- The right to marry, eat and accept religion as desired only talk - Opinion - P. Chidambaram - Corruption, nepotism and flattery have become common themes of his speeches. We know who they are targeting - If rule of law is guaranteed, why riots in Delhi, civil war in Manipur and violence in Haryana's Noah? Recently a TV channel invited one MP each from BJP and Congress in its program and the senior journalist of the respective channel asked tough questions to these MPs and that too in the presence of college students and knowledgeable personalities. His opening statement on 'India at 100' (100 years of India's independence) piqued my curiosity. The BJP MP expressed the hope that the country will become prosperous by 2047, while the Congress MP spoke of an all-inclusive India by 2047. After listening to both of them, the question arose as to why we cannot achieve these two achievements. Both these MPs may be considered to have represented their respective party ide...

Image Freepic Dt. 27 August 2023, Sunday When you go for a loan or apply for a credit card, you need your credit score. Let's know how many types of scores are there. You all know about credit score. Credit score is needed whenever you want to buy a house, building, land or car with a loan or apply for a credit card. Learn more about it today. What is a credit score? Credit score is generally associated with financial transactions i.e. loans. And to understand simply, it is said how much loan you take, and how you repay the loan. Apart from this, you are not late in paying the loan... , the creditors have increased on you. You are used to taking loans. Thus, your credit score is determined on many factors. The bank checks all these things before giving you any loan, that the money given to you will not sink.. So they give you loan only after checking all these things. 4 credit score currently in India Credit score is commonly known as CIBIL score in India. There are four ty...

Image: IANS Tesla and SpaceX CEO Elon Musk is impressed at the way Indian-origin people have taken over as CEOs of most of the top tech companies, as well as some of the non-tech organizations, and the list is only growing. By holding top positions, the Indian-origin people are earning millions of dollars which puts them among the highest paid CEOs in the US. When the World of Statistics posted on X (formerly Twitter) the list of Indian-origin people at top companies, Musk reacted on Aug 25: “Impressive”. His followers reacted, saying "Indians are some of the hardest working people". India is even the “CEO of Moon's South Pole,” a Musk follower chuckled, after the country successfully landed its Chandrayaan-3 Moon mission. Currently, Sanjay Mehrotra is the CEO of Micron Technology; Shantanu Narayen is the CEO of Adobe; Satya Nadella is Chairman and CEO of Microsoft; Sunder Pichai is the CEO of Alphabet and Google; Jay Chaudhry is the CEO of Zscaler which is a cloud...