• China………..continues to puzzle
• World………..at the crossroads
• Indian Economy…………what is the true state
 Taxation Updates
• Income Tax
• Service Tax…………..additional Clean Cess-new rate14.50%
• Central Excise
 Company Law…………..annual return date extended till 30.11.15
 Payment of Bonus Act…….amended
 MUDRA
• FCRA
• GST
• E COMMERECE
• IND AS
• GROWTH SECTORS
• RISE & FALL
• FOOD FOR THOUGHT

CHINA

• The 10 Trillion US$ Chinese market continues to give the jitters and amongst uncertainity ,FIIs sold US $2.6 Billion of local Stocks in the Quarter ending September,2015

• Consumption of commodities has dropped prices of Commodities which have put pressure on Commodity manufacturers ,as prices do not support the high costs of manufacturing

• In efforts to furthur inject viagara in the economy ,the Central Bank has reduced the BPLR by 25 percentage points

• World steel production has shrunk by 3% after the slowdown in the Chinese economy

• China continues to pose a bellergient attitude in its foreign policy,increasingly challenging the US in the South China Sea and continues to build runways in several disputed islands (Spraterly Ils.)and then claims the air space over these, UNCLE SAM IS IN A QUANDRY!

THE WORLD ECONOMY

• Global emerging market GEM funds are closing up

• Oil producing nations ,specially in the Middle East may have no Financial assets after 5 years in view of the falling Oil market

• The Saudi public debt to GDP has risen from 2% to 20%

• To weather this buffeting of low oil prices, financial assets are being sold and Bonds have been issued, for the first time after 2007

• Sovereign funds of Saudi Arabia,Abu Dhabu,Qatar,Kuwait sold Rs 7,000 crores of Stocks in India ,in the Quarter ended September,2015

• A 127 year US Company,ALCOA,the biggest and most iconic aluminium manufacturers is shutting production,because Aluminium prices are @ US$1500 per tonne and the cost of manufactuer is higher.China continues to meet current supplies and controls 55% of the world’s production

• In the US ,5% households control 63% of the Country’s wealth of …………..

INDIAN ECONOMY:
What is the true story?
• Advance tax payments have been robust by the top 100 Companies at Rs. 1.41 lac crores , as against Rs. 1.33 lac crores, last year

• Indirect tax collections grew by 33 % as compared to the last year, which point to a healthy increase in nominal GDP and strong tax numbers in spite of muted economic activity

• ………….however, if you care to look in carefully(1)Excise collections have increased due to increase in fuel cess and clean energy cess, withdrawal of the excise exemptions of the previous Govt. to the Automobile and White goods sector(2)custom collection on account of depreciation of the Indian Rupee and higher Gold exports(3)Service tax on account of the rate increase from 12.36% to 14%

• The Indian Stock market has wiped out the 30% gain made last year and is trading in negative territory. Because of the meltdown in the Chinese economy, fears of economic slow down and the suspense of the impending rate hike by the US Federal Reserve

• The economy has (1)low CAD current account deficit, (2)low inflation(3)softening of taxation rates, (4)opening of FDI(the PM says that he will not allow FDI in Retail)and(5)and a well-meaning Govt….. however, ACTION HAS NOT TRANSLATED FROM CONTENT

• Over 75% of nearly 3500 live real estate projects, with outstanding investments of Rs. 14 lacs crores, remain nonstarters. Over 1000 live projects have registered significant delays in completion and handing over from 22 months to 45 months

• FMCG manufacturers do not read much in the increased Sales, as they are on the back of steep discounts and price cuts. There is no revival and growth in demand is still a couple of Quarters away.

• HOWEVER, India’srelatively resilient growth and policy reform movement will stabilize inflation, improve the regulatory environment, increase infrastructure and lower Govt./Debt ratio.

• The persistent low oil price environment will improve the current account balances, increasing disposable incomes and domestic DEMAND

• The Country is less reliant on foreign funding and NRI fund transfer

• Govt. Debt to GDP ratio is 66.8% and interest payment to revenue is 22.3%

• The average industry utilization was 77% and the reason was the lack of DEMAND ,cheap Imports and not the Cost of Investment …….ASSOCHAM

• The top 5 Sectors in Exports are Engineering, Petroleum, Gems &Jewellery, Textiles and Pharmaceuticals and in spite of a stronger US$ ,exports have been declining over the last 7 months

• India will have to spend atleast 2.5 Trillion US$ by 2030 to meet the targets for mitigating emissions and this fund requirement will be net by reducing fuel subsidies and increasing Cess to finance green energy projects

• India’s gasoline exports will fall by 98% by 2019 and India will then become the second largest importer of gasoline by 2024, due to rapid growth in domestic demand

• Core Sector grew 3.2% in September but PMI(Purchasing Managers Index)declined to a 22 month low. There was a spike in Fertilizer production and 10.8% hike in electricity generation but Cement and Steel sectors shrank.

• Car manufacturers had a real Octoberfest, posting an impressive 22% growth by selling 2.66 lac units and the two wheeler segment also broke double digit growth

• The Govt. is considering a move to double 5% import duty on Aluminum in a bid to salvage Rs. 1.2 lac crores invested by Hindalco and Vedanta and protect 7.5 lac jobs ,jeopardized by cheap imports that have captured half the market

• Full blown investment recovery could be another 12 to 18 months away.
Income Tax

 The Income Tax Department has an ambitious drive to add one crore new taxpayers

CBDT is initiating a pilot project on paperless assessments, using e mails. This would be introduced on non-corporate assesses based on AIR information and mismatched TDS

This would cut down on physical interface of the assessee with the tax authorities ,which would reduce corruption and save time, energy and costs

The Board has laready asked its Officers not to give multiple appointmnets and also avoid roving enquiries ,in case of scrutiny

Forms 15H and 15G can now be filed electronically by the person responsible for making the payment ,after alloting a unique id nos to each declaration, during each Quarter of the respective Financial Year

The Corporate tax rate would be eased to 25% and various special exemptions like accelerated depreciation, investment allowance , sectoral benefits would be removed

The Dept. is beginning a crack down against black money being generated by the rich mining sector.They will check for discrpancies in the financial statements filed and actual opeartions conducted by these Companies.

The SIT is paying special attention to the operations of Shell Cos. and has drawn up a list of dubious Co.s with common registered addresses and Directors

The Dept is also fixing attention on inbound Mergers & Acquisitions.40 Companies have received Notices and the total tax demand could exceed Rs 4,000 crores,

Rs 3770 crores were disclosed by 638 assesees(mostly individuals doctors and employees )
Tax officials will be looking at people who disposed off their Assets or changed their residency status.

The automatic sharing of information with Switzerland and UAE comes into effect by 2017.2018

Technologies that are developed in India and then have patents registered in tax havens may come under the domestic tax net ,when from the next financial year ,India is expected to adopt a new world standard aimed at preventing abuse of double taxation avoidance agreement

The World is moving towards a situation where you can’t shift the profits that you earn in one jurisdiction, to a tax free haven and erode the capital base of the jurisdiction itself. Trans-nationals would need to pay tax at some place.

Real time global automatic exchange of information will be in place within the next two years and money laundering will be difficult
Latest case laws relating to Income tax
1. For filing frivolous appeals and harassing the taxpayer,heavy and exemplary penalty to be levied on the AO – CIT Vs Proctor & Gamble Home Products
2. A.O cannot apply Sec 14A Rule 8D to make a disallowance ,without indicating cogent reasons and examining Accounts– DCIT Vs GKK Capital Markets
3.In the absence of service of Notice u/s 143(2) AO ‘s order was not maintainable – RajibSakia Vs ACIT,Guwahati
4.AO cannot make estimated additions without showing comparable case to justify higher rate of net profit –CIT Vs KN Construction Co.(Rajasthan High Court)
5.Sec 54 F is a beneficial provision and should be liberally interpreted and the provisions do not require the construction of the new house to be complete or be habitable within 3 years,it is sufficient if the assets are invested in the new asset within 3 years–CIT Vs B.S Shantakumar(Karnataka High Court)
6. Amount received by prospective employee for loss of employment offer, is a capital receipt and is neither receipt and is neither taxable as salary or other source:
7.RamPiyari Devi Charitable Trust Vs DGIT…….HC remarked that the inquiry whether the conditions had been complied with or not, as envisaged by the third provisio to Sec 10(23C) is to be conducted post grant of approval and not as a condition precedent to approval.Furthur, because some profit is generated does not ipso facto imply that the educational institute is existing for profit motive……
8.Vodaphone South Ltd Vs CIT…..Sec 57(iii)Income from other sources is to be computed after deducting expenditure laid out wholly and exclusively for the purpose of making or earning such Income
Income Tax: TDS u/s 194LA - As there is no compulsory acquisition and the acquisition is by a mutual agreement as contended by the assessee corporation, therefore, to the extent of properties acquired u/s 146 of HMCA, 1955, TDS not required to be made u/s 194LA - Tri
1. Income Tax: Penalty u/s 272A(2)(c) - Non-issuance of TDS certificate in time - assessee was under bonafide belief that once the tax has not been deposited to the Government account then no certificate under section 203 could have been issued and such a bonafide belief falls within the ambit of section 273B, which envisages that no penalty is leviable if the assessee has bonafide reasons. - Tri
2. Income Tax: Disallowance u/s 40A(3) - cash payment exceeding ₹ 20,000 - assessee had no bank account at Cuttack and seller was insisting for cash payments - genuineness of the purchases had not been doubted by the AO - disallowance of these expenses by applying to section 40A(3) would not be justified. - Tri
3. Income Tax: Rectification of mistake u/s 154 - period of limitation - the said order has not been passed to rectify any apparent mistake but was passed to give complete effect to the appellate order passed by the Commissioner of Income Tax (Appeals) - rectification u/s 154 is in order - Tri
4. Income Tax: TDS - reversal of provision made - later TDS deducted on actual basis - C AO was also not correct in levying interest up to the date of order while accepting that the amounts provided were reversed in later year and TDS was made on actual claims made in that year. - Tri
5. Income Tax: Disallowance made u/s. 14A - Once, the assessee has kept the shares as stock in trade, the rule 8D of the Rules will not apply - Tri
6. Income Tax: Since the interest paid to HSBC on the loan availed was in the nature of an expenditure wholly and exclusively laid out for the purpose of earning the interest income, it ought to be permitted to be netted against such 'income from other sources' in terms of Section 57 (iii) - HC
7. Income Tax: Short term capital gain - sale of equity shares through a recognized stock exchange on which STT has been paid, is not in dispute - CIT(A) erred in not allowing the claim of assessee for taxing the short term capital gain as per the special rate specified u/s 111A of the Act. - Tri
8. Income Tax: Exemption u/s 11 - the assessee is registered as a public charitable trust and the assessee carried only religious activities and no charitable activities are carried out - No exemption - Tri
9. Income Tax: Registration under sec. 12AA denied - The assessee trust has not so far carried out any substantial activities as proclaimed by them, for want of funds - therefore, whether the activities carried on by the assessee are outside the purview of charitable activities or not. - Registration allowed - Tri
10. Income Tax: Payment of roaming charges does not fall under the ambit of TDS provisions either u/s 194C / 194I or 194J and hence we have no hesitation in directing the Learned Assessing Officer to delete the addition made u/s 40(a)(ia) on this account. - Tri
11. Income Tax: Income from house property v/s business income -Management fee (Royalty) received from Kamat Hotels (I) Ltd. is liable to be assessed as ‘business income’. - Tri
12. Income Tax: Grant of exemption u/s 10(23C) (vi) and (via) - running of a school - Merely because some profit is generated does not ipso facto imply that the educational institution is existing for profit motive - HC
13. Income Tax: Revision u/s 263 - assessee has chosen/adopted the Project Completion Method of accounting - It is not open to the revenue to reject a method because according to the Assessing Officer another method is prefereable. - HC
14. Income Tax: Only because some of the doctors have admitted of receiving the payments mentioned in the seized material or the fact that the hospital’s application before the Settlement Commission has been admitted, in no way proves that the assessee has actually received the amount mentioned in the seized document, unless there are other corroborative material to prove such fact. - Suspicion however strong cannot be a substitute for evidence - Tri
15. Income Tax: TDS u/s 194C on Freight - booking only net profit out of the transaction - trucks are hired from open market to provide GTA service and freight is being paid by the assessee at lesser rate - disallowance u/s 40(a)(ia) confirmed - Tri
CENTRAL EXCISE
Important case laws and judgments :
1. Central Excise: Demand of interest on reversal of cenvat credit - Reversal of CENVAT credit if goods are not returned from the Job worker within 180 days - before utilisation of credit if the entry has been reversed, it amounts to not taking credit. - Tri
2. Central Excise: Captive consumption - Revenue, contended that use of tin containers for packing of soya oils cannot be held consumption of goods in the manufacture of the specified goods - Contention of revenue rejected - exemption allowed - Tri
3. Central Excise: Classification of goods - appellant's "Polyester Hologram Excise Label" produced out of stamping foil (transfer foil) is rightly classifiable under chapter 49 of CETA and find that hologram produced by the appellants are not covered under any of the excluded items i.e. Ch.39.18, 48.14 or 48.21 of HSN of Chapter 49. - Tri
4. Central Excise: Adjustment of interest amount with the refund - Even if the interest amount was recoverable from the appellant, the appellant should at least have been intimated about the same, but from the records it appears there was no such intimation to the appellant - matter to be re-adjudicated - Tri
5. Central Excise: 100% EOU - If it is not possible (because of common storage tank) for the appellants to conclusively demonstrate that duty paid diesel only was used for generating electricity supplied to the colony, it is equally impossible for the Revenue to show that it was not so used or to quantify as to how much duty free diesel out of the mixed lot was used for that purpose - Tri
6. Central Excise: Denial of CENVAT Credit - metal scrap cleared to job worker without payment of duty - Department was of the view that the metal scrap (steel scrap and brass scrap) is not in the nature of semi-finished/ semi-processed goods and as such, cannot be cleared without payment of duty under Rule 4(5)(a) to job workers for conversion into ingots - Appeal of the revenue dismissed - Tri
7. Central Excise: Valuation of goods - Pre-Delivery Inspection (PDI) charges recovered at the instance of the buyer are not includible in the assessable value and accordingly appeal filed by the revenue is required to be rejected - Tri
8. Central Excise: CENVAT Credit - Whether the respondents are entitled to Cenvat credit of Education cess and Secondary & Higher Education cess when inputs are supplied by 100% EOU - Education Cess and SHE Cess Component, Forming Part of CVD allowed - Tri
9. Central Excise: MRP based Valuation - Revenue was of the view that since the face wash gel is sold free along with dandruff shampoo, the value / price of face wash gel should also be included and raised demand in this behalf applying the provisions of Section 4A - contention of revenue has no merit - SC
10. Central Excise: Classification of goods - whether the product manufactured out of stone aggregates, cement, water, sand - the classification of ready mix concrete was under Chapter Heading 68 for the period prior to 01.03.1997 - SC
11. Central Excise: Import of goods meant for granite quarry - whether Consumables and Tools - scope of the term "consumables" - 100% EOU - procurement of the items domestically in CT-3 - appellants are not eligible for spares for excavators, tyres and tubes, button bits. - Tri
12. Central Excise: Interest - Whether the appellant is required to pay interest for the intervening period where they have reversed the cenvat credit taken wrongly by them - cenvat credit wrongly taken was lying in the Cenvat credit account unutilized. - No interest - Tri
SERVICE TAX

GTA
CBEC Circular dated 05.10.2015 has clarified that ancillary services during transportation eg. loading/unloading, packing/unpacking, transshipment, temporary storage ,would be considered as a composite service
1. Service Tax: Rate of tax - whether service tax was required to be paid @ 8% when services were rendered or @ 10.2% rate of service tax prevailing on the date of rendering of service will be the appropriate rate for payment of service tax except in the case of reverse charge mechanism - Tri
2. Service Tax: Denial of CENVAT Credit - inclusive part of the definition of input service - Even services like advertising, market and research, which are undertaken to attract customers to buy goods of manufacturer are eligible to credit - Tri
3. Service Tax: Denial of CENVAT Credit - if the service tax has been paid treating the same as Business Auxiliary Service the assessee cannot be denied the benefit of service tax credit which has been paid by the service provider - Tri
4. Service Tax: Commercial Training or Coaching Services - There is nothing to even suggest that the appellant was deliberately causing delay to take advantage of time-bar - substantial demand set aside on the ground of period of limitation - Tri
5. Service Tax: Business Auxiliary Services - intention to evade service tax - In the show cause, neither any period has been specified nor any amount of demand quantified. - demand set aside - Tri
6. Service Tax: Job work or contract labor - activity of cutting, drilling, punching, bending, notching of materials as the work orders within the factory of principal - in the facts and circumstances, not liable to service tax as Manpower Recruitment or Supply Agency service - Tri
7. Service Tax: CENVAT Credit - input service - construction of residential colony/dormitory adjacent to the factory premises was the necessity because of the location of the factory in a remote area - credit allowed - Tri
8. Service Tax: Denial of CENVAT Credit - input services - appellant is entitled to take cenvat credit of insurance premium charges paid by them when there is no dispute that the goods were delivered at the customers place - Tri
COMPANY LAW
To check money laundering by shell companies…………entities incorporated only for routing funds without undertaking any real business activity……….

SIT has cited over 2600 people who were directors in more than 15 Companies.
There were 345 addresses where more than 20 Companies were operating from the same addres
Firms sharing their addreses with other Companies were more than 13,500
1. Companies Law: Recovery of debts - period of limitation – Petitioner failed to prosecute its civil and company law rights with due care and diligence - Petition accordingly would stand dismissed - HC
2. Companies Law: Rectification in the Register of Members - the period of limitation of 3 years would start from the date, on which these documents were signed - petition came to be filed after expiry of 3 years - the petition is barred by limitation - CLB
Reserve Bank Of India:

 RBI has allowed FPI…Foreign Portfolio Investors to double their Investment quota in Central and State Govt. bonds

 The 10 year benchmark gilt yields could fall to 7.25% by March 2016(from 7.70%.......the difference to the repo rate is 50 basic points)

 With the reverse repo rates down to 5.75% Banks should be motivated to lend

 The CD ratio(credit to deposit) has a strong relationship with the degree of Industrialization, in Tamil Nadu it is 117% and in Uttarakhand it is 35%

 Over 7000 willful defaulters owe Rs 59,000 crores to State owned Banks and constitute 22% of the Gross NPAs of the Banks .In 75% of the cases Banks have initiated action under SAEFAESI Act.

 MUDRAie Micro Units Development & Refinance Agency could sanction only 30% of its budget of Rs1.20 lac crores and 60 lac entrepreneurs were financed. But recovery of these financed loans could prove to be a pain for Banks since repayment capabilities have not been assessed in an effort to meet targets

 FCRA with a significant notification would make it easier for political parties to receive funding. Any Co registered in India would be an Indian Co irrespective of its shareholding pattern(earlier 50% of the shareholding had to be held by Indian Co)

 Political parties can take donations only from Indian Cos and now it will be easier to get donations through official channels

FD rates may come down to 7% to 7.25 % and the Finance Ministry may relook at the Interest rates on Small Saving Schemes, eg. NSC, MISetc

VAT: (Value added tax)

IMPORTANT CASE LAWS RELATING TO VAT & SALES TAX:
1. VAT and Sales Tax: Whether L & T 752 vibratory compactor is a 'motor vehicle' or a 'machinery' and therefore, liable to tax under the KTEG Act - Held that:- Under the Scheme of KTEG Act, Chapter II deals with levy of tax. - Held No - the contention of the Revenue that the motor vehicle is not registered, it cannot be treated as motor vehicle and has to be treated as machinery is without any substance - HC
2. VAT and Sales Tax: Demand and recovery of purchase tax after 5 years - period of limitation - Once a period of limitation prescribed by law expires, the right to sue or pass an order comes to an end. Resultantly, a vested or an accrued right arises in favour of a party. - HC
3. VAT and Sales Tax: Levy of VAT on MRP - deduction of discount - Bihar VAT - The State Legislature not being competent to provide for levy of tax on the first point of sale on the basis of MRP or any other notional value, there could be no question of the legislature providing for the same even by way of exercise of option by the dealer concerned - HC
Goods& Service tax (GST):
 The Central Govt. has made available the draft business processes regarding registrations ,refund and payment on the portal www.mygov.in
 A single unified market will make the economy stronger, boosting tax collections ,reducing litigations, prices of commodities and the cascading effect of taxes
 Exports would be promoted, employment generated and it is estimated that at least 2% growth in GDP
 Large organizations would need strong IT systems to handle voluminous data .Monthly returns would need Invoice wise details. Details of Purchases would be auto populated in the Returns and the differences would need to be reconciled.
 Company accounts would need to look at:
Treatment of incentives
Documentation for accounting and Branch transfers
Refunds, appeals and adjudication
Point of taxation analysis
Special audit and assurance
Budgetary controls
Compliance services
 Cos will have to understand the implications of:
Legislative impact analysis
Place of supply rules
Analysis of costs
Price/margin restructuring
Restructure supply chain management
Principle of destination
Competition analysis
Review of existing contracts
 There will be a common e-return ,B2B would need to file monthly returns and foreign mobile providers registered in India would be able to file returns from outside the Country
 The success of GST would depend on the rate of GST that is announced
LABOUR LAWS

 Payment of Bonus Act will be amended to enhance eligibility limits for payment of bonus ,from Salary of Rs 10,000 to Rs 21,000

 To calculate the monthly bonus payable, monthly bonus calculation would be raised from Rs 3,500 to Rs 7,000 and this could be made effective from 1.04.2015

 The new Factories Law may exclude “packaging “from manufacturing since packaging only enables products to be available in different volumes and weight. Packaging does not change the character of the product.

ACCOUNTING
IND AS
April 2016 will see Listed Companies adopt the new Accounting Standards IND AS
Profitability of Cos could be impacted (Pharma & Technology) due to a major impact in the valuation of goodwill, as Cos will have to value goodwill on a fair value basis
Net worth would be impacted specially for Cos with a nos .of subsidiaries or even SPV…special purpose vehicles….as the Assets and Liabilities will no longer be allowed to be clubbed in the Cos Balance Sheet
COMPLIANCES

 SERVICE TAX DEPOSITED BY 05.11.2015

 TDS TO BE DEPOSITED BY 07.11.2015

 PF TO BE DEPOSITED BY 15TH(IN CASH) & 20TH (THROUGHCHEQUE).

 ESI TO BE DEPOSITED BY 21ST.

THE DATE FOR FILING ROC RETURNS HAS BEEN EXTENDED FROM 31st October 2015 to 30th November 2015

EMPLOYMENT

The ecommerce industry has created a huge demand for last minute delivery and delivery boys are in great demand in all Metros, since know grocery deliveries and pharma have come on line

GST is to inject demand for services in warehousing,transport
Clearing and forwarding and inhouse accounting and reconcilaitions

IT will also see investments and employment as the technology backbone will see a surge of traffic as India becomes one market

Skills would be required in IT roll out, applications, maintenance and servicing and staffing
The media and entertainment industry will also be the source of future employment

ON THE FLIP SIDE/ DISRUPTIVE TECHNOLOGY
Axis Bank is experimenting with aRs 5000 electronic thermal guard system for ATMs (where presently 3 guards are employed on 8 hour shifts) which would be more effective in application and cost, but would in effect take away security employment, from all ATMs in the Country, if the device is successful

Sweden has successfully tried out a robotic arm for construction. The robotic arm can more cost effectively and efficiently put up exterior construction eg.Boundary walls, buildings exteriors, factories and this would impact employment in the Construction and Infrastructure segment. They will be used for construction in high risk areas, setting up high power transmission lines.

TECHNOLOGY will do away with repetitive functions and there would be need for increasing commercialization of tech developments in every day life.

Motor corporations around the world estimate that the cost of AI artificial intelligence in automobiles will exceed the metal cost in automobiles.
GENERAL NEWS…

IDBI loan to Kingfisher Rs 950 crores….
The executive loan committee gave favourable report despite Co ratings being BB which are considered to be risky
The minimum eligibility requirement is BBB.No due diligence was carried out and the Loan committee cited brand value and borrowers reputation
Kingfisher borrowed Rs 3100 crores from 10 other nationalized Banks.The money may have been diverted to tax havens.Two countries have been identified where the Loan money was transferred soon after the Loans were sanctioned.

The New Frontier
ENTERTAINMENT
India media and entertainment industry has the potential to log in US$100 Billion by 2025
The growth potential is 13% to 16% year on year and can emerge as one of the largest employment providers
The next decade will see a consumption explosion
India has 300 million digital screens (which include smart phones, tablets, laptops and PCs) which are more than the number of TV and film screens put together
This nos. is projected to grow to 600 million by 2020 ie.Every second Indian will have a personal media consumption device.

Over half of e commerce traffic comes from Tier 2 and 3 cities and as well as 50% of the Sellers are also from these cities

Mobile devices contribute 65% of the traffic and the balance comes from the Web.

Small and medium businesses in Tier 3 Indian cities are the highest adaptors of smartphones and computers for communicating with customers, managing inventory, business data and accounting functions.

Whats app has led to a 10% growth in overall business over a period of time.

RELIANCE is enrolling 150,000 small and medium vendors for e commerce market place by the end of 2015 to take on Amazon, Flipkart and Snapdeal. The online grocery store will be rolled out first and then a fashion and lifestyle venture.

REUSED/REFURBISHED/MARKET
A study by Olx revealed that urban households are sitting on goods (from sofas to cars) worthRs 56,000 crores which are no longer needed

The used and refurbished goods market is good for the customer (eg.getting branded phone cheaper) and the dealer earning higher margins.
The potential market will be in excess of US $ 25 Million by 2020
RISE & FALL
SAMPA….the fall of Chain’s trailblazer in China.His origins are many………born in Hong Kong, or Maccau,or Singapore, or Cambodia;Names………….Tsui King Wah..Xu Songhua..SaMuxu…Sam King….Sampo Menezes; several passports to match the many aliases:…………………. Chinese intelligence operative…arms dealer…………He was part of the QUEENSWAY GROUP and was the channel for Chinese investment of over US$ 200 Billion in AFRICA in motorways, hospitals, illegal diamonds, oil in Angola, high value infrastructure projectsetc.Mr Pa was a fixer, middleman to secure lucrative deals in Africa for Chinese companies .The deals were in flagrant violation of Countries laws, detrimental to long term development and even propped up corrupt govts. and illegal regimes.
Sam Pa’s arrest is part of an anti corruption campaign launched by President Xi Jingpeng
FOOD FOR THOUGHT
Dr Devi Shetty says that against 26 million surgeries needed in India only 6 Million are performed, becauseof shortage of Surgeons (65,000 as against 600,000 needed surgical experts)

The costs of surgery are prohibitive and over 90% of the population in low and middle income groups cannot access surgery

He suggests that undergraduate and postgraduate seats should be equalized and all district hospitals should become academic centres, so that the shortfall in specialists for safe surgery and anesthetists is met

Another innovative thought that if Rs 30per month is collected per mobile phone, it would pay for the cost of the surgical treatment of the subscribers

THIS DEEWALI CAN WE STRIVE NOT TO LOOK FOR:
-Wealth without work
-Pleasure without conscience
-Knowledge without character
-Commerce without morality
-Science without humanity
& -Politics without principles………….Mahatama Gandhi.

THE CONTENTS OF THE NEWSLETTER ARE COMPILATIONS OF NEWS AND OPINIONS AS EXPRESSED IN VARIOUS JOURNALS, NEWSPAPERS AND ARTICLES AND THE ACCURACY OF THE CONTENT IS NOT THE RESPONSIBILITY OF THIS DOCUMENT.