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Darwinbox gets $4 million in Series A led by Lightspeed

Date posted: Tuesday 20 June 2017

Darwinbox, a human resources software-as-a-service startup, has raised $4 million (about Rs.25 crores) in a series-A round of funding led by Lightspeed India Partners, the India-dedicated fund of California-based Lightspeed Venture Partners. The company plans to leverage the new infusion of capital for product innovation and market expansion. Darwinbox is a cloud-based integrated HR technology product that takes care of all HR needs across the employee cycle.

(Economic Times)



Time Warner signs deal to develop shows for Snapchat

Date posted: Tuesday 20 June 2017

Time Warner Inc and Snap Inc have entered into an agreement to develop original shows for messaging service Snapchat over the next two years. Time Warner said it expects to air three shows per day by the end of this year. Snapchat currently airs one show per day for its users, which typically lasts for three to five minutes.

(Financial Express)



GST Council gives relaxation of 2 months for filing of GST returns

Date posted: Monday 19 June 2017

Featured:,

India’s tryst with its most comprehensive indirect tax reform, the goods and services tax (GST), will begin on July 1. The GST Council, the apex decision body for the new tax, has stuck to the scheduled rollout. But the norms for filing returns have been relaxed until September to ensure that the transition doesn’t hurt small traders and others who may not be ready for the new regime. The relaxation in filing of returns until September will mean no late fees or penalties. Traders will have time until July 20 to pay tax based on a simple return while invoice details can be filed from July 15 onwards. The registration window will open from June 25 for new registrants as also those migrating from the existing tax system to GST. A standing committee of nine members, consisting of state, central and GST Council officials, will examine complaints that will be passed on to the Director General Safeguards for investigation.  The anti-profiteering authority, which will be set up soon, will take the final call on whether a company has engaged in profiteering.

(Economic Times)



Vedanta to set up steel plant in Jharkhand in JV with JSMDC

Date posted: Monday 19 June 2017

A steel plant would soon come up at Manoharpur in West Singhbhum district. The Vedanta group and Jharkhand Mineral Development Corporation (JSMDC) would jointly set up the plant. Rs.700 crores of the total MoU signed with prospective investors have already been implemented on the ground and project proposals worth Rs.15 to 16,000 crore will be effective in July.

(Economic Times)





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