Congress tweets old clips of Modi saying,'GST can never be successful'

Congress launches campaign on social media as govt prepares to launch GST at midnight

Company News : The Congress has decided to keep away from today’s special midnight meeting convened by the government for GST (Goods and Services Tax) launch. The Congress said it would stay away not just because this was an imperfect GST, but also given the atmosphere in the country when joblessness is increasing, farmers are being killed in police firing and Muslims being lynched.

Congress has also tweeted few clips of Prime Minister Narendra Modi on Twitter in which Modi is seen saying "GST can never be successful" and implementing it is "impossible" without the requisite infrastructure.

Rahul Gandhi has also posted few tweets opposing govt's GST move.

"This is what Modi ji & the BJP really think of GST" is what the Congress captioned one clip.

"Modi ji how quickly you forget your own words. Why are you rolling out GST without developing the proper infrastructure," is the caption to another clip, in which Modi calls the implementation of GST "impossible" without proper IT infrastructure.

Party’s decision came after Congress president Sonia Gandhi met former Prime Minister Manmohan Singh along with other leaders on Thursday. The party has been in a dilemma over attending the midnight event in Parliament and has had discussions with other parties, which are likely to follow suit. After obtaining views of her key aides, Sonia had taken the political decision to boycott the special session.

Sources said that initially, Congress leaders weighed the party's options, as a group within felt that the GST was the party’s brainchild that has now been taken over by the BJP, and thus favoured attending the meeting. However, some leaders opposing it felt that the GST is being implemented in a haste and all aspects were not taken into consideration lea

Buying a car, gold or property? How GST will impact your expenses from 1 July

Govt has surely kept the consumer's interest in mind while deciding the tax rates under GST

Company News :The introduction of GST from 1 July 2017 would not only have an impact on businesses in India but also on the common man’s monthly budget. The prices of goods and services forming part of the monthly budget would either increase or decrease depending on the GST treatment.

Eating out

For example, when an individual eats out in a restaurant, today there is service tax and VAT charged in the invoice, apart from having a service charge collected additionally. The service tax and VAT is not applicable for all types of restaurants and therefore varies from restaurant to restaurant. Under GST, the rate of tax on the restaurant invoice could be either 5%, 12% or 18%, depending on whether the restaurant is under composition scheme, non-air conditioned or air-conditioned, respectively. The replacement of service tax and VAT with GST at the above rates would make it simple for the customer to understand how much is actually going to the government in terms of taxes.

Buying gold

When it comes to buying gold, we Indians cannot stay away from this temptation. The taxes on gold currently is around 2% in most states, comprising of 1% of excise duty and 1% of VAT in most States.

Kerala has a higher VAT of 5%. The GST rate is increased from the existing rate of around 2% to 3%. While most consumers would have to shell out additional tax of 1%, consumers in Kerala would benefit from the rate reduction.

Buying property

For under-construction property, there is a significant impact post GST. The existing tax rates are broadly around 6% in most States comprising of service tax and VAT (other than a few where the VAT rate is higher). Under GST the rate shall increase to 12%, with the ability of the builder to avail all input tax credits, resulting in reducing his cost which may be passed on to buyers by commensurate reduction in prices. However, this may not be possible for the builder immediately, especially where the builder has already procured the construction material. Hence, for properties currently under construction, the transition into GST would have consumers being charged with the additional tax without actual reduction in construction value.

Tough times: Cognizant defers salary hikes, promotions by three months

IT major informed its employees that salary revisions and promotions would be effective from October 1. This process usually gets over by July.

Company News : Cognizant Technology Solutions (CTS) has pushed back promotions and salary hikes by three months due to slow growth and rising business costs.

The software services major informed its employees that any salary revisions and promotions would be effective from October 1, people in the know told Business Standard. This process usually gets over by July.

The company has 2,61,200 employees across the world.

The company's chief people officer, Jim Lennox, in a note to the staff said employees up to the manager level would receive “a percentage increase in their basic pay like previous years, while people at senior manager and above level would get a “lump sum” amount. This apart, they will get performance-linked bonuses.

For employees up to the level of vice president, according to the note, the new salaries would be effective from October 1. A Cognizant spokesperson declined to comment.

Some of the former and existing employees of the company said a delay in appraisal clearly hints at tough times for the IT industry and a large chunk of mid-level employees also fear job losses on account of slow growth and technology disruption.

This comes at a time when the company, like its peers such as Infosys, TCS others, reduced H1B visa applications and ramped up local hiring in their largest market in the US. This will certainly result in initial cost pressure, said analysts.

Ransomware attacks leave customers powerless, companies ignore cyber threat

'NotPetya' ransomware attack: It's time to take cybersecurity seriously

Company News : As the “NotPetya” ransomware attack spreads around the world, it’s making clear how important it is for everyone – and particularly corporations – to take cybersecurity seriously. The companies affected by this malware include power utilities, banks and technology firms. Their customers are now left without power and other crucial services, in part because the companies did not take action and make the investments necessary to better protect themselves from these cyberattacks.

Cybersecurity is becoming another facet of the growing movement demanding corporate social responsibility. This broad effort has already made progress toward getting workers paid a living wage, encouraging companies to operate zero-waste production plants and practice cradle-to-cradle manufacturing – and even getting them to donate products to people in need.

The overall idea is that companies should make corporate decisions that reflect obligations not just to owners and shareholders, customers and employees, but to society at large and the natural environment. As a scholar of cybersecurity law and policy and chair of Indiana University’s new integrated program on cybersecurity risk management, I say it’s time to add cyberspace to that list.

Online security affects everyone

The recent WannaCry ransomware attack affected more than 200,000 computers in 150 nations. The results of the attack made clear that computers whose software is not kept up to date can hurt not only the computers’ owners, but ultimately all internet users. The companies hit by the NotPetya attack didn’t heed that warning, and got caught by an attack using the same vulnerability as WannaCry, because they still haven’t updated their systems. Read more

Vodafone offers free Netflix for a year: Here is how to avail of the scheme

Here is how you can claim the free Netflix gift if you are a Vodafone RED subscriber

Company News : Now, Vodafone customers can avail up to one year of free Netflix subscription. Exciting, right? Tapping on the popularity of Netflix in India, the telecom service provider, over the weekend, announced an all-new Netflix subscription benefit for its RED postpaid customers in India. However, the plan is not for everyone. The company has also added the condition that postpaid subscribers on Vodafone RED plans of Rs 1,299 or higher value are eligible to get a free up to one-year Netflix subscription as a free gift, according to NDTV.

Here is how you can avail free Netflix subscription with Vodafone RED plans

— If you are a Vodafone RED subscriber, you can claim the Netflix gift by visiting the official website - https://shop.vodafone.in/shop/po....

— Vodafone customers can also SMS ‘Netflix’ to 199 to activate the eligible plan.

Vodafone Red customers who can avail this Netflix free subscription are: Vodafone's Rs 1,299 RED postpaid plan, Rs 1,699 RED postpaid plan, RED 1,999 Unlimited and RED 2,999 Unlimited plan.

Vodafone Red

Vodafone RED is the company’s special postpaid plan under which it offers users a combination of low call rates, SMS, and data. The RED plans start at Rs 499 and go up to Rs 2,999.

Vodafone keeps refreshing its new offers to woo customers to opt for the RED postpaid plan. Last month, the company announced 'Vodafone RED Shield' initiative for its RED postpaid customers where it provided insurance cover of up to Rs 50,000 on newly purchased smartphones as well as those that were purchased till six months back. The insurance cover covered various scenarios such as theft cover, claimed by the company to be the only service that offered it, apart from basic handset damage cover.

PM Modi wins Jeff Bezos' assurance: Amazon will keep investing in India

Always impressed, energised by optimism and invention in India. Excited to keep investing: Bezos

US online retail giant Amazon would keep investing and growing in India, founder and CEO Jeff Bezos said in Washington DC on Sunday, soon after his meeting with Prime Minister Narendra Modi.

“Terrific meeting with Narendra Modi. Always impressed, energised by optimism and invention in India. Excited to keep investing and growing,” Bezos said on social networking platform Twitter.

Bezos was one of the 20-odd US business leaders who met Modi on Sunday. Among other big names were Google CEO Sundar Pichai, Microsoft CEO Satya Nadella and Apple CEO Tim Cook. All four US technology giants have been vying to grow their businesses in India, the last large open market in the world.

Bezos’ indication that Amazon’s investments in India will keep rolling comes at a time when the company has completed four years of doing business here and has cornered a sizeable chunk of the e-commerce market. The firm has committed to investing $5 billion in the country, and says half its investments have so far gone into building infrastructure.

Company News : Amit Agarwal, Amazon vice-president & country manager for India, has said the country’s e-commerce market is still in its infancy and it will take a lot more investment, not just from his company but from all players, to grow in the coming years. His thoughts reflect Bezos’ own philosophy that Amazon is still playing in the “Day 1” of e-commerce.

“We don’t really hold ourselves back based on a targeted investment. We will require a lot of investment, as will Indian e-commerce. It is still very early and we should be ready to invest for many years,” Agarwal had told Business Standard in a recent interview. Read more

800 Google Play Store apps infected by 'Xavier' that leaks user information

Malware's stealing and leaking capabilities are difficult to detect due to a self-protect mechanism

Companies News : Global cybersecurity firm Trend Micro on Friday announced that it has detected more than 800 applications in Google Play Store embedded with a Trojan Android malware "Xavier". This malware has been downloaded millions of times till date.

"Xavier" steals and leaks a user's information silently.

"These applications range from utility apps such as photo manipulators to wallpaper and ringtone changers. We also provide multi-layered mobile security solutions to protect users from this threat," Trend Micro said in a statement.

Based on data from its "Mobile App Reputation Service", the team found that Xavier's stealing and leaking capabilities are difficult to detect because of a self-protect mechanism through the use of methods such as string encryption, internet data encryption and emulator detection.

It also has the capability to download and execute other malicious codes from a remote server, which might be an even more dangerous aspect of the malware.

"The easiest way to avoid a cunning malware like 'Xavier' is to not download and install applications from an unknown source even if they are from legitimate app stores like Google Play Store," said Nilesh Jain, Country Manager (India and Saarc), Trend Micro.

800 Google Play Store apps infected by 'Xavier' that leaks user information

Malware's stealing and leaking capabilities are difficult to detect due to a self-protect mechanism

Companies News : Global cybersecurity firm Trend Micro on Friday announced that it has detected more than 800 applications in Google Play Store embedded with a Trojan Android malware "Xavier". This malware has been downloaded millions of times till date.

"Xavier" steals and leaks a user's information silently.

"These applications range from utility apps such as photo manipulators to wallpaper and ringtone changers. We also provide multi-layered mobile security solutions to protect users from this threat," Trend Micro said in a statement.

Based on data from its "Mobile App Reputation Service", the team found that Xavier's stealing and leaking capabilities are difficult to detect because of a self-protect mechanism through the use of methods such as string encryption, internet data encryption and emulator detection.

It also has the capability to download and execute other malicious codes from a remote server, which might be an even more dangerous aspect of the malware.

"The easiest way to avoid a cunning malware like 'Xavier' is to not download and install applications from an unknown source even if they are from legitimate app stores like Google Play Store," said Nilesh Jain, Country Manager (India and Saarc), Trend Micro.

ISB placements up 39% this year, average salary offered is Rs 22 lakh

Offers come with an average salary of Rs 22 lakh; ISB says visible increase in leadership roles

Companies News : 

Over 400 domestic and international companies made 1,113 offers to post graduate programme students belonging to the class of 2017 at the Indian School of Business (ISB). The Hyderabad-based business school claims it registered a 39 per cent jump in the number of campus recruiters this year.

These offers come with an average salary of Rs 22 lakh.

The Andhra Pradesh government continued recruiting from ISB for the second consecutive year with 21 offer letters to the varsity's students. Some of the offers are for the post of executive assistant to district magistrates of select districts. Other roles offered are in areas such as financial technology, textiles, tourism, and infrastructure.

The state government has also recruited a similar number of ISB students and engaged them in the chief minister's office to work on specific projects.

Besides regular recruiters such as McKinsey & Co, BCG, Parthenon, AT Kearney, Apple, and Microsoft, there were several new companies such as JLL, Havells, Revigo, P&G, Lending Kart, Reliance Jio, and L'Oreal, among others, looking to hire talent at the business school.

ISB said that there was also a visible increase in leadership roles this year. Over 70 offers were made to ISB students for leadership roles by corporates, including Aditya Birla Group, Citibank, Yes Bank, Philips India Limited, Tech Mahindra, Max, Mytrah Energy, and Genpact.

The consulting and information technology/information technology-enabled services sectors continued to be the largest recruiters, constituting 20 per cent and 21 per cent of the total number of offers, respectively. They were followed by the banking, financial services and insurance sector and the healthcare & pharma sector, according to the Institute.                                               

ICC Champions Trophy: 5 reasons why India lost to Pakistan in the final tie

The beginning of the end for India came right with the call to field first after winning the toss

Companies News : The hopes of more than a billion Indian seemed to have come a cropper on Sunday when their national team was handed a humiliating defeat by arch-rivals Pakistan in the final match of Champions Trophy, 2017. Played at the Oval in London, the match saw India crumbling in their chase of 339 runs and getting bundled out for a lowly 158.

Worse, the debacle for India – their biggest margin of defeat in an ICC tournament yet – came in their first clash with Pakistan in a summit match since 2007. Before this, India’s 125-run loss to Australia in the 2003 World Cup final, at Johannesburg’s New Wanderers Stadium in South Africa, had been their most crushing defeat.

While it was embarrassing for India, the emotions on Pakistan side were those of jubilation that comes with unexpected triumph. At the 8th spot in ODI rankings, Pakistan were the lowest-ranked team at the beginning of Champions Trophy 2017. But the way they downed the favourites like South Africa, Sri Lanka and England, and finally India, will be remembered by cricket enthusiasts for a very long time.

Among the most spectacular takeaways from Sunday’s game were the phenomenal opening spell by left-arm Pakistan pacer Mohammad Amir and the brilliant maiden century by Fakhar Zaman, besides sublime field performance by Sarfraz Ahmed’s boys.

Here are five turning points in the match that took the game away from India:

1. The toss: Banking on India’s recent record of successfully chasing down big targets, India skipper Virat Kohli opted to put Pakistan in to bat first. This, it turns out, would have been a good toss to lose for India, as Pakistan captain Sarfaraz Ahmed also said he, too, would have elected to field if he had won the toss.(more)

Planning to buy a car? Get up to Rs 90,000 in discounts before GST rollout

GST rate fixed for automobiles is 28% plus cess-1% for small petrol cars, 3% cess for diesel cars

Company News : If you were prolonging your car-buying decision, it might be a good time to go ahead with your decision now as carmakers are currently offering hefty discounts between Rs 25,000 to Rs 250,000. This is because, after the goods and service tax (GST) implementation, the automotive market will see a significant difference in prices.

The GST rate fixed for automobiles is under the 28 per cent tax bracket, plus cess (1 per cent for small petrol cars, 3 per cent cess for diesel cars and 15 per cent for luxury cars. Due to this change in the tax structure, the on-road price of small diesel cars and mid-sized cars will increase by 1.6 per cent and 2.1 per cent respectively.

ALSO READ: Small cars may see small hike in prices under GST

Here is a list of options for you:

Hyundai

While Hyundai Eon price in New Delhi starts at Rs 3.62 lakhs and goes up to Rs 4.97 lakhs, you can avail a discount of up to Rs 45,000.

Similarly, the Grand i10 starting at Rs 4.69 lakhs can be bought at a discount of Rs 62,000 for the petrol variant and Rs 73,000 for the diesel one.

The Hyundai i20 and the new xCent attracts a discount of Rs 25,000 on petrol and diesel variants.

The biggest discount — Rs 2,5 lakh — is on Hyundai Santa Fe, whereas, the popular Verna’s price is slashed by Rs 80,000 (petrol) and Rs 90,000 (diesel).

Additionally, Hyundai is offering 100 per cent road finance along with exchange benefits across its entire collection.

Mahindra & Mahindra

If you want to hold the steering of a Mahindra car, then here are various offers for Delhi-NCR region:

Mahindra KUV100: Prices reduced by Rs 40,000 to Rs 42,000

Mahindra TUV300: Rs 36,000 discount

Mahindra XUV500: The maximum discount is on this model with Rs 65,000 price cut.

The exchange bonus is available with Mahindra too, however, only on selected items.

Ford

The American auto giant was one of the first to give discounts to lure customers. EcoSport, the subcompact SUV gets cheaper by Rs 20,000 to Rs 30,000.

Ford’s Figo and Aspire are being offered with a price reduction of Rs 10,000 to Rs 25,000.

At present, hybrid vehicles attract excise duty of 12.5 per cent, similar to the ones for entry level small cars such as Tata Nano or Maruti Alto. Even though they are exempt from infrastructure cess, there is a 1 per cent National Calamity Contingent Duty, 2 per cent central sales tax and 12.5 per cent VAT, which takes the total incident of tax to 30.3 per cent. (Read more)

The auto industry has said that the increased tax incidence is against the government's long-term goal of promoting green vehicles in the country.

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)