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Amazon, Flipkart, and Snapdeal Join Hands To Contradict GST Provision

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Amazon,Flipkart and Snapdeal Join Hands To Contradict GST Provision,Startup Stories,2018 Latest Business News & Updates,Startup Stories India,GST Effect on E Commerce Business,Amazon Latest Business News,Flipkart and Snapdeal Business News 2018,GST Latest News

E-commerce giants Amazon, Flipkart and Snapdeal joined hands to oppose the GST provision. These three companies set aside their differences and came together on Thursday to voice their opinions on tax collection at source (TCS) under the draft model Goods and Service Tax (GST).

According to TCS Norms, online markets should deduct an amount from the total payable to sellers and remit it to the government.

Sachin Bansal, co-founder of Flipkart spoke on the press meet on 9th of this month saying: “None of us is saying GST is bad. It is going to be transformative for e-commerce sector as well as India. However, TCS is a serious issue.”

He also added saying that there are many other ways to ensure that the sellers on the online market platform pay their fair share of taxes.

Amazon’s India head Amit Agarwal and co-founder and CEO of Snapdeal Kunal Bahl said e-commerce companies can share data with the authorities and this will surely make sellers more tax complaint.

At a FICCI event, Bansal confirmed that this had been already taking place in three states – Rajasthan, Delhi, and Kerala.

Bahl said that the proposal of tax collection at source is directed only at e-commerce marketplaces.

Mr. Agarwal, however, said that TCS would completely change the path of e-commerce in India. He also said in a statement: “It is upon us to figure out policies that make the flywheel spin faster while achieving the objectives. And you can achieve this through real time data information sharing.”

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Dunzo Gets Breather as NCLT Rejects Insolvency Petition from Invoice Discounters

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Dunzo

The National Company Law Tribunal (NCLT) Bengaluru bench has dismissed an insolvency plea filed against quick commerce startup Dunzo by its invoice discounters, declaring the petition “not maintainable” after several postponements. This decision offers temporary relief to Dunzo, which has been facing multiple insolvency petitions from various creditors, including Velvin Packaging Solutions and Betterplace Safety Solutions, over unpaid dues.

The invoice discounters alleged that Dunzo had paid only 50% of the required amounts, though the exact sum was not disclosed. Despite ongoing settlement talks, no resolution was reached, and the tribunal noted Dunzo’s delays in responding to creditor petitions. Dunzo continues to grapple with severe liquidity issues, delayed payments, and significant losses—reporting a ₹1,801.8 crore loss in FY23 and owing approximately ₹11.4 crore to major vendors like Google India and Facebook India.

While this NCLT ruling provides Dunzo some breathing room, the company still faces ongoing financial and operational challenges as it works to resolve its outstanding liabilities.

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How a Golden Retriever Became the Heart and Soul of a Hyderabad Startup’s Workplace

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Golden Retriever in workplace

Hyderabad-based startup Harvesting Robotics has won hearts online by appointing a golden retriever named Denver as its Chief Happiness Officer (CHO). Denver, introduced by co-founder Rahul Arepaka in a viral LinkedIn post, has quickly become the star of the office, spreading joy and boosting morale among employees. The company is now officially pet-friendly, a move Arepaka calls their “best decision.”

Denver’s new role has sparked widespread attention, with thousands liking and commenting on the announcement. Many see Denver’s presence as more than just a cute story—it highlights a growing trend of pet-friendly workplaces that prioritize employee well-being and happiness. As companies increasingly focus on holistic wellness, Denver’s appointment shows that sometimes, a wagging tail is the best way to brighten the workday.

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Info Edge Shareholders Approve ₹1,000 Crore Investment in New Venture Fund

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Info Edge

Info Edge (India) Ltd shareholders have overwhelmingly approved an investment of up to ₹1,000 crore in the company’s third venture capital fund, Info Edge Ventures Fund III. The proposal received near-unanimous backing, with 99.9995% of valid votes in favor out of 1,274 participants.

Smartweb Internet Services Ltd, a wholly owned Info Edge subsidiary, will act as sponsor and investment manager for the new fund. This move strengthens Info Edge’s commitment to backing early-stage startups and expanding its footprint in India’s venture capital landscape.

Info Edge has a strong track record as an early investor in leading Indian startups like Zomato and PB Fintech, with combined holdings in these firms valued at ₹31,500 crore ($3.7 billion) as of March 31, 2025.

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