WEEK-O-PEDIA

21-28th December 2016

Weekly newsletter of Consulting club, IIM Shillong

Story of the Week

Exemptions, incentives
and GST dont go
together
- Rita Teaotia,
Commerce Secretary

GST Council approves draft

The GST Council has approved the draft Central and State GST laws along with Compensation Bill to finally bring the GST into implementation. However, the new draft CGST and
SGST laws does not include the division of administrative powers between the centre and
the states. 2015-16 has been chosen as the base year for the Compensation Bill. It will provide credibility to the centres promise to compensate states if their revenue growth rate falls
below 14% in the first five years of GST. However many issues will be settled later, such as
source of compensation fund. The next meeting of the Council scheduled early January
2017. It will also discuss the Integrated GST (IGST) Bill and the contentious issue of dual
control .

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In This Issue

Reach us at: http://www.iimshillong.ac.in/student-life/student-clubs/conquest/

The Week that was...

What a Strategy!

Straight from the

Horses mouth...

Serious Science!

India Centric...

The Week that was...

All in one platform ICICI bank

Easing terms for PPI

Indias largest private sector bank, ICICI Bank, has launched

EazyPay mobile which would allow an all-in-one acceptance
payments platform. It consolidates digital wallet, QR code,
Unified Payments Interface (UPI), and credit & debit cards
modes of payments. ICICI Bank, thus, became first bank in
the country to roll out all-in-one payments platform. What
makes it unique is that it has open architecture which makes
it distinct from other digital payments that are actually closedloop prepaid instruments.

With the easing of the rules on issuance of prepaid payments

instruments (PPIs), Reserve Bank now has allowed the banks
to facilitate unlisted corporates, public entities like municipal
corporations and urban local bodies to deepen digital transaction system. Banks may include other employers such as partnership firms, sole proprietorship, public organisations like municipal corporations, urban local bodies to help them reach the
common masses and improve the banking system

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Chinas green initiative

Indias gender pay gap: ILO

The legislation in Chinas passed the new Environment Tax on

polluters, especially on heavy industries. The new law aims to
improve taxpayers environmental awareness and force companies to upgrade their technology so as to shift towards a
cleaner production. On the side note, China is the worlds largest emitter of greenhouse gases (GHGs) mainly due to its
heavy reliance on coal to fund its growing power needs.

According to Global Wage Report 2016-17 released by the ILO,

India suffers from a huge gender pay gap. India has among the
worst levels of gender wage disparity with the gap exceeding
30%. Singapore has among the lowest gender wage disparity
at 3%. Among major economies, South Korea only fares worse
than India, with a gap of 37%.
.

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What a Strategy!

Panasonic-Tesla Deal

Optimize tax: Bluestar

Sonalika Expansions

Panasonic Corp. will invest more than 30

billion yen ($256 million) in the New
York production facility of Elon Musks
Tesla Motors in an initiative to make photovoltaic (PV) cells and special modules,
thus, deepening the partnership between
the two companies.

One of Indias largest air-conditioning

and commercial refrigeration firms, Blue
Star Ltd, has appointed KPMG India to
value the Malaysia, Oman and Qatar
subsidiaries so as to reorganize its overseas business and optimize tax expenses. The process is expected to be complete in the next five months.

International Tractors Ltd, the owner

company of Sonalika brand famous for
its farm equipment is in talks with a Chinese tractor maker to form a joint venture for a new plant in Shandong province. Sonalika tractors will be the second
tractor company after Mahindra and
Mahindra Ltd to start manufacturing in
China.

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Straight from the Horses mouth...

Ashok Chawla on self listing of NSE
When NSE had initially decided that it will go ahead with listing, the position taken was
it would list on itself because the other exchange was a competitor. But Sebi regulations
do not permit that and perhaps for good reason; that you cannot be judging yourselves.

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Serious Science!

Biological Pacemaker

The most heat resistant material

Canadian scientists have developed the first biological functional

pacemaker cells using human pluripotent stem cells. It opens
the way for alternate biological pacemaker therapy. These cells
can regulate heart beats with electrical impulses. .

UK-based researchers have identified a combination of Hafnium carbide (HfC) and Tantalum carbide (TaC) as the worlds
most heat resistant material. They can withstand record melting point temperatures up to 3958C (approx 4000C.The
discovery paves the way for improved heat resistant shielding
for the faster-than-ever hypersonic space vehicles.

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.

India centric...

National Consumer Day

Towards a greener world

In India, 24th December is observed as the National Consumer Day. On this day the Consumer Protection Act, 1986
had received the assent of the President of India. This day
highlight the importance of the consumer movement and promotes the basic rights of all consumers

The foundation stone of Indias first second generation Ethanol Bio-refinery was laid at Tarkhanwala village in Bathinda,
Punjab. The project is being setup by HPCL at a cost of 600
crore Rupees. This bio-refinery will produce 100 kilolitres of
ethanol per day i.e. 3.20 crore litres per annum from agricultural residues.

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