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AFSPA extended in 4 districts of Assam, withdrawn from 4 others
The Armed Forces (Special Powers) Act (AFSPA) has been extended in four districts of Assam for six more months, according to the Assam Police. However, the 'disturbed area' tag, which allows enforcement of AFSPA, has been withdrawn from four other districts. The AFSPA gives security forces the power to conduct operations and make arrests without a warrant, and grants immunity from arrest and prosecution in case of shooting incidents.
The harsh ‘reality’ facing real money gaming firms, and other top tech, startup stories this week
The gaming industry in India is facing tax woes as the GST department issued pre-show cause notices to several cash flow-rich firms in the sector. One of the notices, amounting to an estimated Rs 25,000 crore, was served to fantasy sports company Dream11, making it the largest indirect tax notice in India. This move has sparked legal disputes and challenges from the gaming companies, who argue that the tax demands are retrospective and unfair. The Supreme Court will conduct further hearings on the matter on October 10.
RBI in dialogue with other central banks to reduce cost of cross border remittances
The Reserve Bank of India (RBI) is engaging with countries that have a significant Indian diaspora to reduce the cost of remittances, according to Deputy Governor T Rabi Sankar. He highlighted that the average cost of cross-border remittances is currently around 6.2% of the transaction value, which is considered too high given the availability of cheap data connectivity.
Drip Project raises funding from Blume Founders Fund, others
The Mumbai-based startup aims to expand its product catalogue from 500 to over 1,000 products, build more inventory and expand its growth, with the help of the funding, as per a statement.
GATE 2024 registration closes tomorrow: Here's how to apply and other important dates
The Indian Institute of Science is nearing the end of the online registration process for the Graduate Aptitude Test in Engineering (GATE) 2024. Prospective candidates must submit their applications by September 29, 2023, or October 13, 2023, with a late fee. The application process involves registration, filling out the application, uploading documents, and paying the fee. After the initial application, a correction window will open on November 11, 2023.
GST Evasion Notice: DGGI seeks Rs 3k crore from ICICI Lombard and other insurance cos
The Directorate General of Goods and Services Tax Intelligence (DGGI) has issued notices to several insurance companies, including ICICI Lombard, seeking approximately Rs 3,000 crore in unpaid taxes. The notices state that these companies did not pay GST on reinsurance premiums despite receiving commissions from co-insurance companies.
Dixon investing Rs 200-250 cr in plant for Xiaomi smartphones, other products: Atul Lall
“We have a relationship with Xiaomi for almost the last five years now. Xiaomi has been a large customer in this space for a long time now,” Atul Lall, vice chairman at Dixon Technologies, told ET. The company has been making TVs for the Chinese brand.
Tata Investment Corporation, 8 other mid & smallcap stocks hit all-time high on Thursday
Several mid and small-cap stocks reached unprecedented all-time highs on September 28.
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