MSMEs seek liberal GST norms for smoother transition to online selling : Bulletin: Business Today
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MSMEs seek liberal GST norms for smoother transition to online selling

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Rashi Bisaria | October 1, 2020

Unlock 5.0: Cinema halls to reopen from Oct 1 with 50% seating capacity

The fifth phase of the opening up of the economy, that is Unlock 5.0, is set to begin from October 1. Under the 'Unlock 5' guidelines,the central government has permitted opening of cinemas/ theatres/ multiplexes with upto 50 per cent of their seating capacity, for which, SOP will be issued later. Unlock 5 will happen at a time when coronavirus cases have spiralled to more than 62 lakh in the country, and 80,472 people have died due to it.

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The suspension on commercial international passenger flight services to or from India has been extended till October 31, according to an official statement. The government, however, said that international scheduled flights may be allowed on selected routes by the competent authority on case to case basis.

Govt cuts natural gas price by 25% to lowest on record

Natural gas price in India touched the lowest rate on record after the government on Wednesday slashed the price by 25 per cent to USD 1.79, denting revenues of producers like ONGC.

The price of gas, which is used to generate electricity, make fertiliser and CNG for automobiles, has been cut to USD 1.79 per million British thermal unit for six months beginning October 1.

MSMEs seek liberal GST norms for smoother transition to online selling

Terming the GST compliance burden as taxing for micro, small and medium enterprises making shift to online selling platform, industry players have urged the government to ease the rules. They have claimed that regulations prescribed in the GST Act for businesses selling online impose a higher tax rate and compliance burden in comparison to businesses selling offline thus preventing MSMEs to swiftly make a transition to online platforms.

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The chief executive of GlaxoSmithKline, the world's largest maker of vaccines, said she was optimistic the industry will be able to make an immunisation against COVID-19 widely available next year. "I share the optimism that we will have solutions next year. The challenge here is getting to the scale that is required," GSK CEO Emma Walmsley said at an online event of the Confederation of British Industry (CBI) on Tuesday.

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