Companies

Companies

GST benefit: Honda, Ford, TVS, Suzuki cut prices

Passing on to customers the benefits under the new GST regime, automakers on Monday announced price cuts ranging from Rs 350 in case of two-wheelers to Rs 3 lakh on Ford’s SUV
Endeavour.
Honda Cars India, Ford as well as two-wheeler makers TVS Motor Company, Honda Motorcycle & Scooter India and Suzuki Motorcycle -- all announced rate cuts arising out of the introduction of goods and services tax (GST) from July 1.

GST benefit: Honda, Ford, TVS, Suzuki cut prices

Passing on to customers the benefits under the new GST regime, automakers on Monday announced price cuts ranging from Rs 350 in case of two-wheelers to Rs 3 lakh on Ford’s SUV
Endeavour.
Honda Cars India, Ford as well as two-wheeler makers TVS Motor Company, Honda Motorcycle & Scooter India and Suzuki Motorcycle -- all announced rate cuts arising out of the introduction of goods and services tax (GST) from July 1.

GST benefit: Honda, Ford, TVS, Suzuki cut prices

Passing on to customers the benefits under the new GST regime, automakers on Monday announced price cuts ranging from Rs 350 in case of two-wheelers to Rs 3 lakh on Ford’s SUV
Endeavour.
Honda Cars India, Ford as well as two-wheeler makers TVS Motor Company, Honda Motorcycle & Scooter India and Suzuki Motorcycle -- all announced rate cuts arising out of the introduction of goods and services tax (GST) from July 1.

GST: Hospitality, travel cos expect issues in initial months

Hospitality and travel industry players expect teething issues to crop up at least in the first few months of GST implementation but are not unduly worried, expecting support from the government.
Travel services firms said the "sheer complexity" in GST compliance and the filings required at multiple levels will involve a substantial increase in effort and time.
The hospitality players also want the government to put only hotel rooms with tariffs of Rs 10,000 per night and above in the top tax bracket of 28 percent in the GST regime.

McDonald's shuts 43 outlets in Delhi as eating licenses expire

In a setback to the US-based fast food chain McDonald's, 43 of the total 55 outlets will be shut in Delhi from today, on failure to renew eating house licenses by its North and East India licensee Connaught Plaza Restaurants Pvt Ltd (CPRL).
The CPRL is the local joint venture between Vikram Bakshi and McDonald's. When contacted, McDonald's said "the eating house licenses of a number of McDonald's restaurants in Delhi have expired".

Tata Motors, Volkswagen tie-up runs into rough weather

The Tata Motors and German Volkswagen Group partnership for joint development of new platform for producing the next generation mass market cars in India is likely to get cancelled. The two major car manufacturers have reportedly run into rough weather, with differences over the use of platform to make the new cars and doubts related to business viability, according to industry sources.
The joint plan also included developing smaller sedans and sports utility vehicles (SUVs) for the Indian market, the fifth largest car market in the world.

Toshiba Sues Western Digital for 120 Billion Yen in Damages

Toshiba Corp. sued Western Digital Corp. in a Japanese court, asking for 120 billion yen ($1.1 billion) in damages and seeking to stop the U.S. company from interfering in the sale of its chip unit, escalating a legal tussle between the companies.

Facebook hits 2 billion-user mark, doubling in size since 2012

Facebook Inc (FB.O) said on Tuesday that 2 billion people are regularly using its flagship service, marching past another milestone in its growth from a college curiosity in the United States to the world's largest social media network.

Chief Executive Mark Zuckerberg disclosed the number to his followers in a Facebook post. "It's an honor to be on this journey with you," he wrote. (bit.ly/2sefWFL)

ICSI plans framework for companies' compliance with Sebi norms

Company secretaries' apex body ICSI plans to put in place a framework to ensure listed- companies carry out proper due diligence to comply with Sebi regulations.
Company’s secretaries have a prominent role in ensuring good corporate governance practices and have increased responsibilities under the Companies Act.
Against this backdrop, the Institute of Company Secretaries of India (ICSI) has recently constituted a task force on "Audit/ Due Diligence/ Compliance of Sebi laws".

Google Gets Record $2.7 Billion EU Fine for Skewing Searches

Google’s record-breaking 2.4 billion-euro ($2.7 billion) European Union fine could end up being just a fraction of the costs from the EU’s demand that it stop skewing search results to favor its own shopping site.

While the penalty will barely make a dent in its $90 billion cash hoard, Google faces the prospect of less ad revenue and a regulatory backlash targeting other services from maps to restaurant reviews as well as the threat of even more penalties.

Pages