FMCG major Hindustan Unilever Limited (HUL) has been issued tax demands and penalties totaling Rs 447.5 crore by Goods and Services Tax (GST) authorities across five states.
The company on Monday informed stock exchanges that it received five separate notices last Friday and Saturday on various grounds like disallowance of GST credit, tax on salaries and allowances paid to expatriate employees, etc.
The biggest demand of Rs 373 crore tax plus Rs 39.9 crore penalty comes from the Mumbai GST office related to payments made to expats. GST officials in Bengaluru, Haryana, and Kerala also raised demands ranging from Rs 10-13 crore along with penalties.
HUL has said it will appeal against the orders which it believes will not have any material impact on the company’s financials or operations. The demands amount to less than 1% of its revenue of Rs 59,000 crore recorded last fiscal.
This is not the first instance of HUL facing action from tax authorities. The company along with many other FMCG firms have often red-flagged the increasing burden of GST rules and compliance.
Experts say the authorities seem to be cracking down on issues like the availment of input tax credits as revenues have taken a hit post-pandemic. The demands may be intended to shore tax collections.
However, retrospective demands and penalties disadvantage corporates in planning their operations. HUL is expected to contest the latest orders to avoid creating a precedence of volatility concerning GST provisions.
The newlywed couple Kiara Advani and Sidharth Malhotra welcomed 2023 together by going snowboarding, as evident from the adorable selfie shared by the actress.
Kiara gave fans a sneak peek into her New Year celebrations with her husband Sidharth through an Instagram post on January 1, 2024. The photo shows the duo dressed in puffy jackets, striking a pose on their snowboards with picturesque snow-clad mountains in the backdrop.
The ‘Shershaah’ stars seem to have rung in the New Year at an undisclosed, exotic snow-filled destination. Both Kiara and Sidharth can be seen sporting cool snow goggles as they happily pose for the camera before sliding down the slopes.
“2023 – so much to be grateful for. 2024 – coming for you baby,” Kiara captioned affectionately, adding Sidharth’s love for “kala chashma” with a quirky revelation that they had 4 pairs!
Fans and B-town celebs like Manish Malhotra and Karan Johar showered the post with love and appreciation. Sidharth and Kiara’s social media PDAs often win hearts courtesy of their infectious chemistry.
Just recently, Sidharth appeared on ‘Koffee With Karan’ where Karan recounted how the actor first met Kiara at his party when he was running high fever. But clearly, the sparks flew!
As the most-loved celebrity couple welcomes an exciting new year, fans can’t wait to see more glimpses into Sid-Kiara’s adorable romance that proves matches are made in heaven, not on apps!
An intense cold wave gripped Delhi on Tuesday morning with the minimum temperature settling at 8.3 degrees Celsius, a notch above normal, along with dense fog covering the capital.
The fog cover resulted in a lack of visibility leading to delays in arrival and departures of over 26 Delhi-bound trains by 1 to 6 hours. Passengers faced problems at the New Delhi Railway Station due to the disrupted schedule.
Dense to moderate fog was observed at isolated pockets of the city, the India Meteorological Department said. As the harsh winter continued, people were seen huddled around bonfires to keep themselves warm.
The national capital’s Air Quality Index stood in the ‘Very Poor’ category at 346 micrograms per cubic meter on Tuesday morning as per the Central Pollution Control Board.
The cold wave intensified further in North India with minimum temperatures dipping across Punjab, Haryana, Uttar Pradesh, and Rajasthan. The India Meteorological Department has predicted no respite from the cold till January 4th.
December 2022 was Delhi’s warmest December in six years with no ‘cold wave’ day throughout the month. But January has commenced with frigid temperatures accompanied by cold winds and dense fog.
Authorities have advised people not to ignore flu-like symptoms and get proper treatment to avoid complications. They have also appealed to provide shelter to the homeless while following fire safety measures.
In its monthly compliance report published on January 1, WhatsApp revealed that it banned a massive 71 lakh Indian accounts in November 2022 for violating policies.
Out of these, 19.54 lakh accounts were proactively barred by WhatsApp before any user report based on harmful behavior detected by its tools and resources. The company took action on 6 accounts following 8,841 user complaints received in November.
WhatsApp’s grievance redressal mechanisms in India include the Grievance Appellate Committee (GAC) set up by the government. The GAC submitted 8 reports in November which were promptly addressed by WhatsApp.
The Facebook-owned instant messaging app publishes this transparency report every month as per the IT Rules 2021 which covers user safety, received complaints, and corresponding actions taken.
It uses learnings from these reports to strengthen its abuse detection and prevent misuse, including policy violations at the registration stage and during messaging. This has led WhatsApp to ban over 71 lakh Indian accounts in a single month.
On the product side, WhatsApp has introduced new updates to make status updates more interactive like Instagram Stories. Beta testers noted a new persistent Reply bar while viewing statuses that replaces the earlier swipe-up gesture to respond.
There is also a dedicated Updates tab that separates ephemeral status updates from long-term updates posted via the newly launched Channels feature. These changes could boost user engagement with statuses as more find it easier to discover and respond to updates.
The proactive monitoring by WhatsApp reflects its attempts to curb platform misuse in India which is among its biggest markets. But rising instances of Indian accounts facing a ban raise questions on the effectiveness of its safeguards.
At least 13 people have died while many others were injured after a series of over 155 powerful earthquakes, including a magnitude 7.6 tremor, jolted Japan’s northern and central parts on Monday.
The hardest hit was Ishikawa prefecture where 13 casualties have been reported so far. The relentless tremors have brought immense destruction – cracks in roads, collapsed buildings, fires, and power outages leaving thousands homeless.
Over 97,000 residents were evacuated and shifted to shelter homes. But rescue operations remain extremely challenging with roads and infrastructure badly damaged. PM Fumio Kishida described it as a “race against time” to save more lives.
The Japan Meteorological Agency has lifted all tsunami advisories earlier issued after initial warnings of high waves. The agency recorded around 155 quakes since Monday, including another above magnitude 6.
The northern Noto peninsula near the epicenter saw maximum impact with houses destroyed, roads cracked, disrupted communication lines, and power outages even on Tuesday.
Around 33,000 households in Ishikawa prefecture continued to suffer power cuts while several areas had no water supply, as per state broadcaster NHK’s latest updates.
Doctors were unable to reach the hospital in the severely affected town of Suzu which was running on backup power. Rescue teams comprising army personnel, firefighters, and police officers have been mobilized.
The United States has offered full support to the key ally in dealing with the aftermath of the rare natural calamity. This is the second major earthquake to strike the island country in less than two months.
The mass evacuation effort seems to have prevented more casualties than initially expected from quakes of such intensity. As aftershocks continue, Prime Minister Kishida is closely monitoring the relief and rehabilitation efforts.
In a major pre-poll boost for Congress in Andhra Pradesh, Chief Minister Jagan Mohan Reddy’s sister YS Sharmila is set to merge her party with the grand old party this week.
Sharmila, daughter of former popular CM YSR Reddy, will reportedly be inducted into Congress in Delhi in the coming days. She has been offered key roles – Rajya Sabha ticket, AICC General Secretary post, and chief of Andhra Pradesh Congress Committee.
The merger comes right before the state elections in Andhra Pradesh which will coincide with the 2024 General Polls, giving Congress an edge with a high-profile regional face like Sharmila.
Sharmila’s decision signals an acknowledgement that her outfit YSR Telangana Party has struggled since its launch in 2021 to make any impact in Telangana politics. It failed to win even a single seat in the recent Assembly elections.
Hence joining forces with Congress gives her a better shot at wrestling power in neighbouring Andhra Pradesh where her family continues to wield influence.
Sharmila has convened a meeting of her party leaders, likely to discuss the formalities of the impending merger with Congress and plan future political activities.
Andhra Pradesh Congress chief recently remarked many disgruntled legislators realize Congress is the state’s only hope and could join it.
The polls will test if the high-profile entry of Sharmila helps revive Congress’ fading fortunes in Andhra Pradesh where regional parties have dominated the turf.
Indian equity benchmarks Sensex and Nifty opened lower on Tuesday amid a weak trend in global markets, but pharma stocks surged limiting the downside.
The 30-share BSE Sensex fell over 200 points early on but recovered some lost ground to trade 109 points lower at 72,162. NSE’s Nifty50 index was down 12 points at 21,730.
Sun Pharma, Bajaj Finserv, PowerGrid, and Bharti Airtel were among the top Sensex gainers. Conversely, UltraTech Cement, M&M, Asian Paints, HCL Tech, and Infosys traded with losses.
In the broader market, Nifty Midcap 100 and Nifty Smallcap 100 climbed to 0.5% each. The Nifty Pharma index stood out with gains of nearly 2% driven by a spike in Divi’s Labs and Cipla.
Coal India, Dr Reddy’s, and SBI Life Insurance were some other top performers. On the downside, auto and IT stocks saw some profit-taking.
On Monday, domestic equities ended flatly amid a volatile session. Market experts expect the consolidation to continue until the upcoming Budget which may provide further direction.
Globally, Asian stocks traded lower as investors exercised caution ahead of important economic events lined up this week including US inflation data.
Meanwhile, the Indian rupee slipped 11 paise to 83.32 per dollar amid foreign fund outflows and firming crude oil prices. Brent crude was last seen 1.6% higher near $78.3 per barrel.
Going ahead, pharma stocks will remain in focus after recently receiving production-linked incentives from the government. Markets await more large cap earnings this week for further cues.
6 Killed, 26 Injured In Mexico Shootout Targeting Alleged Cartel Member
At least six people were killed while 26 others sustained injuries after three unidentified gunmen opened fire at a party in Ciudad Obregon city of Mexico’s Sonora state on Saturday.
The attack targeted a suspected cartel member who carried outstanding arrest warrants for homicide, femicide, and other grave charges, as per the Sonora prosecutors’ office.
The wanted man, whose identity remains undisclosed, was among those killed in the brazen shootout along with five others. The deceased included two minors below 18 years old.
Officials said five children were among the 26 people injured, with four victims said to be critical and admitted to local hospitals while 13 others were discharged post-treatment.
A fourth attacker was reportedly already present at the party when his associates stormed the venue. They fired indiscriminately on attendees before fleeing from the spot. The targeted cartel member tried to escape initially but was gunned down.
This comes just weeks after a similar shootout at a Christmas party in Guanajuato claimed 11 lives. Mexico has been plagued by rampant gun violence and powerful drug cartels that frequently organize massacres to establish supremacy.
The brazen public attacks have terrorized locals and highlighted the limitations of state authorities in reining in organized crime despite deploying police and military across hotspots.
Ensuring the safety and security of citizens remains one of the biggest challenges for the Mexican government. Tackling well-armed cartels and their nefarious activities continues to be an uphill task.
At least six people were killed while 26 others sustained injuries after three unidentified gunmen opened fire at a party in Ciudad Obregon city of Mexico’s Sonora state on Saturday.
The attack targeted a suspected cartel member who carried outstanding arrest warrants for homicide, femicide, and other grave charges, as per the Sonora prosecutors’ office.
The wanted man, whose identity remains undisclosed, was among those killed in the brazen shootout along with five others. The deceased included two minors below 18 years old.
Officials said five children were among the 26 people injured, with four victims said to be critical and admitted to local hospitals while 13 others were discharged post-treatment.
A fourth attacker was reportedly already present at the party when his associates stormed the venue. They fired indiscriminately on attendees before fleeing from the spot. The targeted cartel member tried to escape initially but was gunned down.
This comes just weeks after a similar shootout at a Christmas party in Guanajuato claimed 11 lives. Mexico has been plagued by rampant gun violence and powerful drug cartels that frequently organize massacres to establish supremacy.
The brazen public attacks have terrorized locals and highlighted the limitations of state authorities in reining in organized crime despite deploying police and military across hotspots.
Ensuring the safety and security of citizens remains one of the biggest challenges for the Mexican government. Tackling well-armed cartels and their nefarious activities continues to be an uphill task.
India reported 743 new COVID-19 cases and 7 fatalities in the last 24 hours, as daily infections continued to rise after breaching the 700-mark just a day earlier.
Of the seven deaths, Kerala accounted for 3 followed by 2 in Karnataka and 1 each in Chhattisgarh and Tamil Nadu, as per Health Ministry data. The number of active cases in the country stands at 3,997.
This comes even as India detected 162 cases of the COVID sub-variant JN.1 till Friday. Experts have advised caution and adherence to basic preventive measures amid the ongoing festive season when virus transmission is expected to be higher in crowded settings.
However, they have assured me there are no reasons to panic at the moment or reinforce restrictions. Viral respiratory illnesses typically see a spurt in winter months aided by unfavorable weather and high pollution levels.
Sumit Ray, Medical Director at Holy Family Hospital said they have been witnessing more influenza and H1N1 patients with serious lung problems rather than COVID cases which seem to be detected incidentally.
With India’s COVID recovery rate remaining high at 98.81%, experts feel the mild rise in cases per se is not worrying if proper precautions are followed. However, they have asked the vulnerable population and the elderly to avoid crowded places and wear masks.
The recent clusters emerging in some IITs and schools also serve as a grim reminder that the virus has still not been eliminated. Going forward more genomic surveillance and tracking of emerging variants will be the key.
Authorities have advised citizens not to let their guard down but also assured them there are no reasons to push the panic button yet or revert to harsh restrictions. However, they have not ruled out targeted containment strategies if hotspots witness further spikes.
Host Salman Khan lashed out at Munawar Faruqui and Ayesha Singh over their romantic entanglement in the Bigg Boss house, as seen in the Weekend Ka Vaar promo aired on Saturday.
Salman grilled the duo asking Ayesha about her intention behind entering the show. When she said she wanted a public apology from Munawar, he retorted – “You wanted an apology on national TV?”
He remarked that while fights between couples are common, they don’t usually happen publicly on national television. Taking a dig at Munawar’s stand-up acts, Salman said he makes bold comments in comedy shows but was unable to speak candidly in the Bigg Boss house.
Salman called out the seeming disconnect between Ayesha-Munawar’s on-screen relationship and their supposed off-screen conflict. A tearful Ayesha had a meltdown post the confrontation with Salman and was consoled by housemate Ankita Lokhande.
Ayesha had earlier accused Munawar of two-timing her while still dating his girlfriend Nazila. She said Munawar had approached her on social media before Bigg Boss 17 to feature her in a music video and told her he had broken up with Nazila.
It was only after he entered the Bigg Boss house that she found out from Nazila’s posts that he was still in a relationship with her. A livid Ayesha demanded that Munawar should never show his face to her again.
Munawar tried to do damage control but only invited Ayesha’s wrath further. The heated drama between the controversial duo has stirred up a storm in the Bigg Boss house just weeks ahead of the finale.
Fans are eager to see if Salman’s schooling will lead Munawar and Ayesha to sort out their equations or whether their enmity will only worsen in days to come. The brewing tension has undoubtedly spiced up the show!
