Sun.Sep 03, 2023

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Biz can claim ITC on goods procured for distribution to dealers for achieving sales target: GST AAR

CFO News

The Karnataka-bench of the Authority for Advance Ruling (AAR) has ruled that businesses can claim input tax credit on items like gold coins and white goods procured for distribution to dealers as part of promotional schemes. The AAR stated that these items are not considered gifts as they are issued subject to certain conditions and stipulations.

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Experiment: Let’s try out a very short-term TIPS

Tips Watch

By David Enna, Tipswatch.com Last week I wrote about my recent buying spree of medium- to longer-term Treasury Inflation Protected Securities, combined with some shorter-term nominal Treasurys and bank CDs.

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Pursuing green, energy giants like Reliance Industries, Adani Group zero in on biogas

CFO News

Now, the humble biogas has caught the fancy of some leading energy players of India Inc. Last week Reliance Industries announced its plans to set up 100 compressed biogas (CBG) plants. Adani Group's Adani Total Gas is planning to set up five CBG plants in the next five years with more to follow in future.

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The fundamentals of IAS 23

Future CFO

Financial reporting specialist and lecturer Adam Deller explains the basic principles of IAS 23, Borrowing Costs. The post The fundamentals of IAS 23 appeared first on FutureCFO.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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ITC to invest Rs 1,500 crore to set up food manufacturing, packaging plants in Madhya Pradesh

CFO News

The two projects, when complete, would entail a total investment outlay of Rs 1,500 crores which will support livelihoods across sustainable value chains.

More Trending

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RBI governor Shaktikanta Das ranked top central banker globally, rated 'A+'

CFO News

Shaktikanta Das RBI Number 1 Central Banker: In the ranking, Shaktikanta Das is followed by Switzerland Governor Thomas J Jordan and central bank chief of Vietnam Nguyen Thi Hong.

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5 Important Customer Retention Metrics in a Slow Economy

The Finance Weekly

During the pandemic, lockdowns and social distancing caused a big increase in online shopping. Stores quickly adapted to this by trying new things to attract online customers. People now expect a great online shopping experience. In 2023, shoppers are being careful with their money, especially for non-essential things. A , study by PwC showed that 69% of people changed how they spend money in the last six months, and 43% plan to shop online more in the next six months.

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BNP Paribas answers Jio's call for $2 billion loan

CFO News

Reliance Jio Infocomm, India's largest telco, is raising up to $2 billion in offshore loans with BNP Paribas as the lead arranger. The funding will help finance the purchase of 5G network gear from Ericsson. Swedish export credit agency EKN has provided a $2.2 billion cover to protect Ericsson and the lenders involved in the deal from risks.

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10 Sunday Reads

Barry Ritholtz

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • ‘Off-the-charts records’: Has humanity finally broken the climate? Extreme weather is ‘smacking us in the face’ with worse to come, but a ‘tiny window’ of hope remains, say leading climate scientists. ( The Guardian ) • Paid Late, or Never: Painters, Builders and Brokers Hit by China’s Property Crisis : As a real estate meltdown ripples through the economy, small businesses and workers are owed hundreds o

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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The G20: A look at the world’s premier grouping

CFO News

The 18th G20 summit under India's presidency is scheduled for September 9–10, marking the conclusion of a year-long series of discussions and meetings involving ministers, high-ranking government officials, and non-governmental participants. Below is everything you need to know about the G20 summit.

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Tata Steel in advanced talks to secure funds for UK plant: Reports

CFO News

The unions, meanwhile, have expressed concerns over reports that a few thousand job losses are expected as part of the negotiations at the Tata-owned Port Talbot steelworks, which employs around 4,000 workers. "We continue to support a solution that will maintain blast furnace production and safeguard the future for all the UK plants. We are ready to use all means at our disposal to protect jobs and our vital strategic industry," said the Community steelworkers union.

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Go First and Jet Airways lose airline codes for being non-operational

CFO News

The two-letter designator codes G8 and 9W, assigned by the International Air Transport Association (IATA), a global trade association of the world’s airlines, stand withdrawn for both airlines. The withdrawal of the airline code would lead to disruptions in ticketing, reservations, and baggage handling operations for these airlines. Besides logos and taglines, these codes also become an identity for airlines.

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Decision to quit early not taken under any pressure, says Uday Kotak

CFO News

Uday Kotak, the founder of Kotak Mahindra Bank, has stepped down as MD and CEO ahead of the end of his term, causing concern among businesses and investors. Kotak reflects on his decision, stating that he wanted to make the succession process smoother and that he had completed his responsibilities. He also emphasizes the importance of institutions over individuals and expresses his confidence in the future growth of the bank.

Banking 52
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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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PM Modi's full interview: India PM shares views on inflation, G-20 meetings, climate change, Chinese debt trap & more

CFO News

Prime Minister Narendra Modi on Sunday unfolded his opinions on various issues including inflation, G-20 meetings, climate change and more. Following is the transcript of PTI's exclusive interview with PM Modi by Editor-in-Chief Vijay Joshi and senior editors late last week at his Lok Kalyan Marg residence.

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Asset monetisation, selloff proceeds should be earmarked to reduce debt: CEA

CFO News

As per chief economic adviser V Anantha Nageswaran, India's economy is strong enough to weather high US interest rates. He said that the medium-term risk for the country is securing energy supplies while the merchandise trade deficit is not a concern.

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GDP share of six new members being added to BRICS to be just 11 per cent: Report

CFO News

Currently China contributes 70 per cent of the BRICS' GDP, which will decline to 62 per cent, while India chips in with 13 per cent now that will inch down to 12 per cent. Russia contributes 8 per cent, Brazil is at 7 per cent and South Africa contributes a paltry 2 per cent, giving combined 26 per cent of global economic output.

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Anant Raj to invest Rs 10,000 crore for 300 MW data centre

CFO News

Having previously constructed three IT buildings in Manesar, Delhi-based real estate developer Anant Rai and Panchkula in Haryana, the company is presently in the process of transforming these structures into data centres, he told ET.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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Several IT services cos defer salary increments

CFO News

Indian IT companies have taken divergent approaches to salary hikes this year due to the softer business environment. Infosys and HCLTech have not announced hikes yet, while Wipro has committed to salary increases to be announced in the third quarter. Tech Mahindra has given increments to junior and mid-level employees but deferred for senior roles.

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Byju’s forms executive committee for new leadership at Aakash after exit of CEO, CFO

CFO News

Byju Raveendran– chief executive officer at Byju’s, Ajay Goel–group chief financial officer of Byju’s, Anup Kumar Agrawal, chief business officer of AESL and Sachin Saxena, chief human resources officer (CHRO) of AESL are part of the executive council, as per an internal note sent by Raveendran.

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How RBI norms led to Uday Kotak's farewell from the board after a four-decade long journey

CFO News

Uday Kotak, the founder of Kotak Mahindra Bank, has stepped down as the bank's Managing Director and CEO with immediate effect. Kotak, who was due to retire in 2023, is the richest banker in India. During his career, he made significant contributions to the financial services industry and successfully led the acquisition of ING Vysya Bank. However, he faced challenges in reducing his promoter stake to meet regulatory requirements.

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Gaming firm Nazara raises Rs 100 crore from Zerodha's Nikhil Kamath

CFO News

Gaming and media firm Nazara Technologies on Monday said it was raising Rs 100 crore from Nikhil Kamath, co-founder of retail stockbroker Zerodha, via an equity share issue.

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Accounting Software and ERP Readiness Guide

In this white paper, we explore the factors to consider in deciding whether the time is right for your Company to consider a new ERP or accounting software, the total cost of ownership and plans necessary to make the potential leap to these systems.

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Debt crisis matter of great concern for world: PM Modi ahead of G20 Summit

CFO News

Under its G20 presidency, India has been consistently highlighting the need for a framework on debt restructuring to help countries facing mounting debt problems.

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CFO submits ‘fake’ docus, ‘dupes’ firm of Rs 46L, held

CFO News

Firm: The Dadar police have arrested a chemical company’s chief financial officer (CFO) on charges of cheating, forgery and breach of trust.

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G20 Summit: Principal Secretary to PM, Delhi LG review sites, Biden on Xi's decision to skip

CFO News

Along with Bharat Mandapam, around 20 locations including Rajghat, C Hexagon - India Gate, Terminal 3 of Airport and its VIP Lounge, Aerocity area, key segments of major roads, among others, were visited and reviewed by the Principal Secretary and LG.

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