Paytm GST clearance sale offers discount up to 80%, here are the best deals

You could win an Apple iPhone 7 on minimum purchase worth Rs 1,000 as well; sale ends on Thursday

Companies News :Paytm is running a pre-GST clearance sale on its e-commerce platform Paytm Mall. The three-day sale — June 13 to June 15 – offers discounts, cashbacks and a chance to win Apple iPhone 7 in a bid to clear the stock before the final roll-out of Goods and Services Tax (GST) in the country on July 1.

Under the Paytm Mall pre-GST clearance sale, the e-commerce portal is offering up to 80 per cent off on products including TVs, laptops, phones, cameras, air-conditioners and refrigerators. The clearance sale also offers a cashback of up to Rs 20,000 on DSLRs, televisions, laptops and air conditioners.

Apart from all the discounts and cashbacks, the e-commerce portal is offering a chance to win Apple iPhone 7 on a minimum purchase amount of Rs 1,000.

Here are some of the best deals that the Paytm Mall is offering under pre-GST clearance sale:

Apple iPhone 7

maximum retail price of Rs 60,000, is currently going on sale at a discount of 24 per cent for Rs 45,366. Also, the e-commerce portal is offering a cashback of Rs 5,750 that brings down the overall selling price of the smartphone to Rs 39,616. At this price, the iPhone 7 is a great deal.

Also Read : Apple iPhone 7 Plus, Apple MacBook Air 13, HP OMEN Gaming Laptop, Canon EOS 1300D DSLR camera, Canon EOS 5D Mark IV Kit (EF 24 – 105 IS II USM)

Modi is doing everything he can to get votes: Jim Rogers

I like India and always hope that there will be an opportunity to invest here, Rogers says

Terming the Budget 2017 proposals as populist, JIM ROGERS, chairman of Rogers Holdings and author of Street Smarts: Adventures on the Road and in the Markets tells Puneet Wadhwa that the Modi government has done a lot of mistakes in its tenure, including demonetisation, which was a move to give himself and his government more control. Edited excerpts:

What is your interpretation of the Budget proposals?

It was certainly a populist budget. Mr Narendra Modi knows that he has an election coming up. He certainly has heard from a lot of people and is trying to make those people feel better. The demonetisation move, even if it was a good, it was badly done. He has surely hurt a lot of people and is now trying to appeal to them. Mr Modi is doing everything he can to get votes.

Having said that, I am always in favour of tax cuts, but unfortunately in India’s case, tax cuts will make the debt situation much worse. India already has very high debt-to-GDP (gross domestic product) ratio. This is one reason that India hasn’t been able to do as well as it could have otherwise. So, yes everybody is in favour of infrastructure spending, and India desperately needs it, everyone is also in favour of tax cuts – including me, unfortunately the overall economic picture does not look good.

What more would you have liked to see in terms of policies for specific sectors?

Mr Modi will seek a re-election and a new term at the helm in two years from now. A big debt problem will not impact the outcome in 2019 too much. However, a big debt problem will be a problem for the Indian economy. I was very pleased to see that he is privatising the railroads more, which is a good move for the country and its economy – if it actually happens. Read more

Shock and awe: Note ban, Jio launch, GST & other headline grabbers of 2016

Business Standard recaps the most prominent economic and corporate developments of the year

By almost any yardstick the year has been unique: Public policy, business rivalries and implosions, court verdicts and corporate malfeasance set new standards of shock and awe that will reverberate well into 2017.

Business Standard recaps the most prominent of economic corporate developments

Demonetisation

In terms of disruptive impact, this was a decision with few parallels in Indian policy-making. On November 8 evening, just as Donald Trump recorded an unlikely victory in the US presidential polls, Prime Minister Narendra Modi came on national television to announce the withdrawal of legal tender status to Rs 500 and Rs 1,000 notes, taking roughly 86 per cent of currency out of circulation. Citizens were given time till

December 30 to deposit old notes, but draconian withdrawal controls were put in place.

It was not just ordinary Indians who were caught unawares by this decision, which was initially explained as a route to staunching black money and terror finance. The government and Reserve Bank of India (RBI), too, seemed unprepared.  For one, the new Rs 500 and Rs 2,000 notes required over 100,000 ATMs to be recalibrated, an exercise that could not begin till after the announcement was made in the interests of confidentiality. For another, the assumptions on which the decision was made played out so differently in reality, that 60 notifications have been issued over one and a half months imposing new conditions or reversing other ones.    

The Tata-DoCoMo controversy


Goods and Services Tax


The RIL-ONGC spat


Nikesh Arora’s exit from SoftBank


The Singur verdict

Breaking News & Latest News | Business Standard

April 1 deadline for GST a stiff target: Jaitley

April 1 deadline for GST a stiff target: Jaitley

Union Finance Minister Arun Jaitley on Wednesday said the April 1, 2017, deadline to roll out the goods and services tax (GST) was stiff, as there were a few hurdles ahead.

He added the Centre and states were “running against time”, and there were issues, which the proposed GST Council needed to address.

“After the notification and constitution of the GST Council, there are obviously some pending issues, which the council will have to resolve. So we have September and October, and, parts of November to do that,” said Jaitley at the The Economist India Summit in the national Capital.

Later, a senior finance ministry official said there were three issues — GST rates, dual control over assessment and scrutiny of assessees, and geographical or area-based exemptions.

“If we are able to successfully transact those issues, the pieces of legislation would be introduced in Parliament in the winter session. Looking ahead, it’s very stiff. We are running against time,” said Jaitley.

More than half the states have ratified the Constitution amendment Bill, passed by Parliament on August 6. Only the President’s assent is left to make it a law.(more)

Nifty hovers above 8,550; Tata Motors up 4%

Markets have shrugged off the clearance of GST in the upper house and are trading in a narrow range with Sensex and Nifty swinging between negative and positive zone.

By 10:25 am, the S&P BSE Sensex was up 48 points at 27,746 and the Nifty50 gained 14 points to trade 8,559. Broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.5% each.

“Contrary to popular belief, the passage of the GST Constitutional Amendment marks only the beginning of a fairly tedious procedure that should ultimately result in the implementation of a unified GST in India at best by 2HFY18. Even as the adoption of a unified GST is one of the most remarkable tax reforms from a long-term perspective, in the short-term we highlight that this is likely to result in (1) a mild pick-up in inflation as hitherto untaxed goods and services are now brought under the tax net, (2) a meaningful loss of jobs in the informal sector as this sector will no longer be able to fly under the radar of the taxman and (3) consequently trigger pro-electorate measures in the form of higher revenue expenditure from FY18 onwards as the Modi-led BJP Government begins preparing for the 2019 General Elections,” adds Ritika Mankar Mukherjee, Senior Economist, Ambit Capital.(more)