Saturday, September 23, 2017

Newsbreakers

Taxman Goeth

 

Arun Jaitley, Finance Minister of India, will go down in history as the man who finally took the bold step to roll out a long impending, long overdue tax reform, the GST.  The landmark tax reform will start a new unified tax regime, mainly the Goods & Services Tax.  The old system was fraught with multiple taxation at several levels, between State and Central  governments, and between different States.  

It takes a lot of courage and confidence to  implement such landmark reforms, and Jaitley has shown a lot of both.  He turned down with a firm hand last minute requests for a delay in the GST rollout, insisting that we don’t have the luxury of time. Insisting the massive computing backbone needed for the task is ready, he underlined the fact that about  80 per cent of existing taxpayers have managed to open an account on the new system.

 

 

Mother of all Maas

 

Jack Ma, Alibaba 's Founder-CEO  has invested in Snapdeal and a couple of other startups,  in India. Blending the best of East and West in his company he created the world's largest ecommerce company Alibaba , which is soon to land in India. Ant Financials, Alibaba’s investment arm,  made large investments in Snapdeal and Paytm. Now it wants to become a significant player in the Indian e-commerce space.

The Chinese e-commerce giant will put in Rs.1,700 crore to boost the existing business. Alibaba’s entry will start a three way battle in e-commerce between China, India (with Flipkart) and the US (with Amazon). India will become the centre of Alibaba’s global expansion. It is the only country which has a growing internet population exceeding the US, and still has a lot of headroom. Alibaba’s entry bodes well for India’s warehousing sector, whose biggest driver is e-commerce.




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