Daily News Podcast: Truckers' strike hits Amazon deliveries : Bulletin: Business Today
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Daily News Podcast: Truckers' strike hits Amazon deliveries

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BusinessToday.in | July 27, 2018

Bharti Airtel turns a surprise profit of Rs 97 crore in June quarter due to tax gains
Indian telecom conglomerate Bharti Airtel managed to defy street expectations and come out with a profit in the June quarter. After the slim profit the telecom major managed in the March quarter of the last fiscal, it seems to be finding its feet back in the competitive Indian telecom industry. Bharti Airtel posted a sequential rise of 17.37 per cent in its profit attributed to owners, which rose to Rs 97.3 crore for the quarter ended June 30, 2018. In the previous quarter, this figure stood at Rs 82.9 crore.
 
CBI to conduct investigation on Facebook-Cambridge Analytica data theft
The government has asked the Central Bureau of Investigation to probe political consultancy Cambridge Analytica's misuse of Facebook user data, law minister Ravi Shankar Prasad told parliament on Thursday. "It is suspected that Cambridge Analytica may have been involved in illegally obtaining data of Indians which could be misused," Prasad said. Facebook has faced increased scrutiny in the United States and the European Union over how Cambridge Analytica obtained the personal data of 87 million Facebook users.

CBDT extends income tax return filing deadline to August 31
The Central Board of Direct Taxes (CBDT) has extended the deadline of filing income tax returns from July 31 to August 31. The decision comes days before the deadline and provides relief to individuals who were required to file returns by the month end. In a couple of tweets, The finance ministry said, "Upon consideration of the matter, the Central Board of Direct Taxes (CBDT) extends the 'Due Date' for filing of Income Tax Returns from 31st July, 2018 to 31st August, 2018 in respect of the said categories of taxpayers."
 
Truckers' strike hits Amazon deliveries, commodity trade
A truckers' strike across the country has affected deliveries for e-commerce firms such as Amazon and Snapdeal, hurt cotton trade in the world's biggest producer of the fiber and disrupted the movement of grains and vegetables. The All India Motor Transport Congress (AIMTC), the body which has organized the strike, is demanding a cut in federal and state levies on diesel by bringing the fuel under the scope of the nationwide Goods and Service Tax. Snapdeal said the slowdown of long-haul transportation had hit some of its deliveries in northern and western India. "The delivery of products in a few cities has been impacted and we are working closely with these customers to get their orders to them quickly," an Amazon spokeswoman told Reuters.

Domino's in trouble over GST
Pizza chain Domino's has found itself in trouble with  anti-profiteering authorities for not passing on a cut in goods and services tax to consumers. Anti-profiteering provisions make it compulsory for companies to pass on any benefits from a lower GST rate to consumers. As reported by the Economic Times, the Directorate General of Anti-Profiteering found that Domino's had not reduced the prices of all its food products after the GST Council cut the tax rate on restaurants last November, and instead passed on the benefit selectively.
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