BUSINESS 

New GST Rules: How Does it Impacts Restaurants and Food Delivery Apps, Know Here

Food delivery apps will have to collect and deposit 5 per cent GST with the government, in place of restaurants, for deliveries made by the platforms. The GST Council has approved this proposal to make food-delivery platforms like Zomato and Swiggy responsible for collecting and depositing the 5 per cent GST applicable on food with the government, effective January 1. The idea is to bring several restaurants that had not been paying taxes under the GST net. What are the New GST changes? Right now, if a customer orders food, for example,…

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BUSINESS 

Gold Rates Jump, Silver Prices Rise as well.

Gold in the national capital on Wednesday jumped Rs 438 to Rs 46,214 per 10 grams reflecting overnight gains in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal closed at Rs 45,776 per 10 grams. Silver also gained Rs 633 to Rs 62,140 per kg, from Rs 61,507 per kg in the previous trade. “Spot gold prices for 24 carats in Delhi surged Rs 438 reflecting overnight gains in COMEX gold prices,” said HDFC Securities Senior Analyst (Commodities) Tapan Patel. In the international…

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BUSINESS INDIA 

7th Pay Commission: Govt Makes Big Announcement For Retired Employees.

Retired government employees will now get gratuity, cash payment and hike in Dearness Allowance as announced by the Central government in a tweet. The Department of Expenditure, Ministry of Finance, has said that the retired central employees will receive cash payment and gratuity. The information for gratuity for January 2020 to June 2021 has been released. The Finance Ministry has issued a memorandum in which it has mentioned the release of dearness allowance (DA) from 1 January 2020 to 30 June 2021. Taking to Twitter, the Finance Ministry informed retired…

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BUSINESS JAMMU KASHMIR 

Darbar Move scrapping hurt Jammu more than Kashmir: Azad

Former Chief Minister Ghulam Nabi Azad criticised government’s decision in scrapping the age old tradition of Darbar Move saying that it mainly hurt the economy of Jammu. Azad was addressing party delegates at Jammu in the presence of the former Congress party president Rahul Gandhi. Azad said “Darbar Move was not necessary for Kashmir. It was necessary for Jammu to bolster its economy. It was not brought by Pandit Nehru or Indira Gandhi. It was introduced by late Maharaja with the twin objective of “cultural integration” of two distant regions…

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BUSINESS 

After GM and Harley, Ford is shutting down in India. Reason and what it means for customers.

Ford India is shutting down operations in India after revealing accumulated loss of over $ 2 billion in the last decade. The brand’s president and CEO Jim Farley said in addition to this the considerable drop in demand and the high running costs of Ford’s Sanand plant, and it no longer seemed feasible to continue operations. The closure of the two production units operational from last more than two decades would affect approximately 4,000 employees. Ford is the third car overseas manufacturing company to shut down operations in India after…

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