MSMEs call out GST norms hindering move to online selling

Laveta Brigham



graphical user interface: MSMEs call out GST norms hindering move to online selling


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MSMEs call out GST norms hindering move to online selling

KEY HIGHLIGHTS

  • MSMEs have demanded GST compliance parity between offline and online sellers, claiming the new indirect tax regime is taxing for the firms switching over to online platforms
  • Post COVID, due to lockdowns and disruptions, smaller players and artisans are trying to sell their goods online
  • MSMEs’ demand assumes significance given that festive season is round the corner and customers are fast shifting to online in the wake of COVID-19 pandemic
  • The industry has pitched for a range of changes for online sellers from registration to composition scheme to tax collected at source (TCS)

Terming the GST compliance burden as taxing for micro, small and medium enterprises making shift to online selling platform, industry players have urged the government to ease the rules.

They have claimed that regulations prescribed in the GST Act for businesses

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Laveta Brigham

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Goldman Sachs Predicts Over 40% Rally for These 3 Stocks

A new wave of optimism is splashing onto the Street. Investment firm Goldman Sachs just gave its three-month stock forecast a boost, lifting it from Neutral to Overweight, with it also projecting “high single-digital returns” for global stocks over the next year.What’s behind this updated approach? Goldman Sachs strategist Christian Mueller-Glissmann cites the impressive rebound in global earnings growth and reduced equity costs as the drivers of the estimate revision. On top of this, a “broader procyclical shift” in stocks and other assets could take place during the remainder of this year.“We have shifted more cyclical on sectors and themes tactically but still prefer growth vs. value on a strategic horizon… In the near-term, elevated uncertainty on U.S. elections and a better global growth outlook might benefit non-U.S. equities more, but in the medium term a large weight in

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When to Ditch Your Car

Laveta Brigham

TipRanks

Goldman Sachs Predicts Over 40% Rally for These 3 Stocks

A new wave of optimism is splashing onto the Street. Investment firm Goldman Sachs just gave its three-month stock forecast a boost, lifting it from Neutral to Overweight, with it also projecting “high single-digital returns” for global stocks over the next year.What’s behind this updated approach? Goldman Sachs strategist Christian Mueller-Glissmann cites the impressive rebound in global earnings growth and reduced equity costs as the drivers of the estimate revision. On top of this, a “broader procyclical shift” in stocks and other assets could take place during the remainder of this year.“We have shifted more cyclical on sectors and themes tactically but still prefer growth vs. value on a strategic horizon… In the near-term, elevated uncertainty on U.S. elections and a better global growth outlook might benefit non-U.S. equities more, but in the medium term a large weight in

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How to make the most of online school with young children

Laveta Brigham

Another day in Zoom school, another meltdown and another reminder of what parents already know: Online school is especially challenging for younger students. There’s a reason children from kindergarten through third grade spent much of their pre-pandemic school days moving around and learning through play, not sitting still and staring at at a screen.

Many school districts are prioritizing younger elementary school students for reopenings, as studies show that younger children may be less vulnerable to the coronavirus.

But what if you’re in a school district that’s not reopening anytime soon? What if your child is immunocompromised? Or what if you are reluctant to return to in-person learning in the middle of a pandemic when there are so many “what ifs”?

Then you have to make the most of distance learning.

Many tips for how to best manage distance learning — including creating a designated space for school, maintaining

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Clever Ways To Save Thousands by Cutting Out the Middleman

Laveta Brigham

Brokers, salespeople, retailers, distributors and drop shippers — all of these words describe the sometimes necessary evil that is the middleman. For years, the middleman has played the important role of connecting the producer of goods to a consumer. Most of the time middlemen can and will mark something up as high as they want to make a profit, as long as what they are selling is in high demand. The traditional way of selling has since been disrupted by the rise of e-commerce, leading the way to more direct-to-consumer purchasing. 

Purchasing directly from a producer or wholesaler comes with numerous advantages such as a tailored shopping experience, direct customer service and reduced prices, just to name a few. Be aware of these tips and tricks if you’re looking to save more on your expenses.

Last updated: Sept. 30, 2020

Don’t Get Schemed by Drop Shippers

Drop shippers are online

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Will Washington-area schools publicly report coronavirus cases? Many say no.

Laveta Brigham

This can make it hard to discover whether a school system has suffered an outbreak. When an employee in Montgomery County Public Schools’ central office recently tested positive for the virus, news of the case trickled out informally. Spokeswoman Gboyinde Onijala confirmed it Wednesday, saying she could not release more details due to medical confidentiality but anyone potentially exposed was notified and the superintendent and school board had been informed.

But there are a few bright spots: Loudoun County Public Schools in Northern Virginia, for example, sends schoolwide emails whenever a student or employee case emerges, as well as blasting an alert to local media outlets. The school system of 82,000 has followed this policy ever since campuses shut down in March, even though Loudoun students are pursuing remote learning this fall and do not physically set foot in school buildings.

Last week, this led to a string of notifications,

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Comey on Trump finances: Debt can make officials ‘vulnerable to coercion by an adversary’

Laveta Brigham

Former FBI Director James ComeyJames Brien ComeyTrump official releases unverified Russian intel on Clinton previously rejected by Senate panel The FBI and special counsel’s horrible, terrible, miserable week Americans are tired of Democrats’ politicized investigations against Trump MORE on Wednesday warned that government officials with significant personal debt could pose a risk to national security.

Comey, who was responding to a question about President TrumpDonald John TrumpFive takeaways from Trump-Biden debate clash The Memo: Debate or debacle? Democrats rip Trump for not condemning white supremacists, Proud Boys at debate MORE‘s finances during congressional testimony, said personal debt is a serious consideration when granting security clearances because it could be leveraged by a foreign foe.

“A person’s financial situation could make them vulnerable to coercion by an adversary and allow an adversary to do what we try to do to foreign government officials we find are indebted, which

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Here’s How Harvard Business School Plans to Advance Racial Equality

Laveta Brigham

In an effort to promote racial equality, Harvard Business School said it would boost its enrollment of Black students in future classes, hire a chief diversity officer and recruit more Black faculty and staff. The school plans to build more issues of race and diversity into its case-study method of teaching and make conversations about race a higher priority in its curriculum, it said last week.

KEY TAKEAWAYS
1. The school recently acknowledged past missteps involving race.

In June, following the national outcry stemming from George Floyd’s death while in police custody, Nitin Nohria, dean of the school, wrote a letter that said past efforts to recruit Black students to Harvard were insufficient. “I apologize that we have not fought racism as effectively as we could have,” he wrote.

2. The number of Black M.B.A. students at the school has stagnated.

For three decades the number of Black students on

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FASB Further Delays Accounting Rule on Insurance Contracts

Laveta Brigham

Insurance companies are getting even more time to implement a new rule for valuing long-term contracts following a vote by the Financial Accounting Standards Board on Wednesday.

The rule maker, which sets accounting standards for companies and nonprofits in the U.S., in June proposed a delay of another year for the new rule amid the economic harm caused by the coronavirus pandemic. The rule was first delayed by a year last November to give companies more time to modernize their processes for reporting and valuation.

Insurance firms must review assumptions used to measure the value of their long-term contractual obligations and make revisions if needed. Long-term contracts include agreements on annuities, endowments and title insurance. Short-duration contracts usually cover property and liability protection.

Publicly listed insurers, excluding small ones, may

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Kayla Reefer Won’t Be Defined By Just One Artistic Genre

Laveta Brigham

This profile is part of our series “Quiénes Somos,” which focuses on nine amazing and original creators in the Latinx community. You can read more by visiting our Latinx Heritage Month homepage.

Kayla Reefer has many talents. The 28-year-old entrepreneur has already begun to make a name for herself as a cinematographer and photographer, but she won’t be limited. Reefer is also an artist who designs and produces two clothing lines and runs an agency with the goal of supporting and representing Black artists across multiple disciplines. For Latinx Heritage Month, we talked about family, heritage, and the origins of her creativity.

Hi Kayla! Tell me a little bit about yourself.

My name is Kayla Reefer, I am 28, currently based in the Greater Los Angeles Area. I am Black & Latina, of Afro-Panamanian descent. I am a multi-disciplinary artist and entrepreneur although I am primarily known as a photographer,

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