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GST Revenue collection in the month of April 2018 exceeds Rs. 1 Lakh Crore

The total Gross GST revenue collected in the month of April 2018 is Rs.1,03,458 crore of which CGST is Rs18,652 crore, SGST is Rs.25,704 crore,  IGST is Rs. 50,548 crore (including 21,246 crore collected on imports) and Cess is Rs.8554 crore (including Rs.702 crore collected on imports).  The total number of GSTR 3B Returns filed for the month of March up to 30th April, 2018 is 60.47 lakh as against 87.12 lakh, who are eligible to file the Return for the month of March, which is 69.5%.

 

L&T inks pact with Schneider Electric to divest electrical, automation biz for Rs 14K cr

Larsen & Toubro today said it has inked a definitive pact with Schneider Electric to sell its electrical and automation business for an all-cash consideration of Rs 14,000 crore, as part of its long-term strategy to exit non-core activities.

“The company has entered into definitive agreements for the divestment of its electrical and automation business, including the associated subsidiary companies outside India, to Schneider Electric (India) Private Limited and Schneider Electric JV Holdings Pte Ltd, on May 1, 2018,” L&T said in a BSE filing today.

 

Synergies Castings to set up a ₹650-cr greenfield plant in Visakhapatnam

Aluminium alloy wheel manufacturer Synergies Castings has announced plans to set up a 650-crore greenfield alloy wheel making facility near the port city of Visakapatnam.

The company has signed a memorandum of understanding (MoU) with the Andhra Pradesh government earlier this year to establish an aluminium casting and speciality alloy wheel manufacturing facility.

 

Amway India launches campaign to promote safe, healthy food among children

In a bid to create awareness about healthy food among children, the direct selling FMCG company Amway India has announced ‘Safe & Nutritious food (SNF @school)’ programme.

Through the programme, the company plans to reach out to over 2,00,000 school-going children across 100 schools in the National Capital Region (NCR).

 

Singhi Advisors appoints banker Sriram Narayanan as partner

Singhi Advisors, a Mumbai-based mid-market focused investment bank, has appointed banker Sriram Narayanan as a partner. He will be based in Mumbai. Narayanan has three decades of leadership experience across large and diversified Indian and multinational banks. He has worked across multi-disciplinary domains such as investment banking, corporate banking across various sectors such as financial services, healthcare, telecom, FMCG, automobiles and information technology, among others, Singhi Advisors said in a statement.

 

Kavinder Gupta Takes Oath As J&K Deputy CM

Jammu and Kashmir Assembly speaker Kavinder Gupta appointed as the Deputy- CM of the state. Seven others ministers were also sworn in the state’s PDP-BJP government led by Mehbooba Mufti. Gupta will be the new deputy chief minister in place of Nirmal Singh.

 

Uday Kotak Redesignated As MD & CEO Of Kotak Mahindra Bank

The board of directors of Kotak Mahindra Bank redesignated Uday Kotak as Managing Director and Chief Executive Officer. Mr. Kotak was earlier executive Vice Chairman and Managing Director. Mr. Kotak was the only official among private banks to have a Vice Chairman designation. All others have MD & CEO designation.

 

International Buddhist Conference held in Lumbini, Nepal

Lumbini is the birthplace of Gautama Buddha, founder of the Buddhist religion. Lord Buddha was born in sacred garden of Lumbini during 6th century BC. Lumbini is birthplace of Gautama Buddha, founder of the Buddhist religion.Lord Buddha was born in sacred garden of Lumbini during 6th century BC. The basic objective of the conference was to disseminate teachings of Buddha and spread messages of nonviolence, brotherhood, co-existence, love, and peace.

 

Surat railway station to be 3rd in country to have airport-like facilities: Officials

The Surat railway station will be the third in the country and the second in Gujarat after Gandhinagar to be developed as a world-class facility under a Railway Ministry station redevelopment programme. The station will be equipped with several “airport-like” amenities under the ministry’s ‘Rs 1 lakh crore station redevelopment’ programme,. ITCO, a joint venture between the IRSDC, the Surat Municipal Corporation, and the Gujarat State Road Transport Corporation invited request for qualification (RFQ) and request for proposal (RFP) for the development of a multi-modal transportation hub at the station.

 

Paytm Introduces ‘Tap Card’ Offline Payments Solution

One97 Communications Limited, the owner of digital payment major, Paytm, announced the launch of its offline payments solution – the Paytm Tap Card, in line with the company’s vision to provide seamless payments solutions for non-internet customers. This card uses Near Field Communication (NFC) technology to enable safe and convenient digital payments, completely offline at Paytm-issued, NFC PoS terminals, in under a second. To make payments, users can add money from their Paytm account by scanning the QR code on the Tap Card and by authenticating it at any of the add value machines (AVM).

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