While Rocket Internet will underwrite around 100 million euros (about Rs 760.7 crore) of the financing, it will invest around 85 million euros (about Rs 646.7 crore), including the conversion of an existing investment at the terms of the financing.
At the time of paying the SUC, it can calculate the charge based on which band has the lowest rate, thus causing a loss to the exchequer. The move to have a uniform SUC rate reduced chances of such arbitrage.
While just six assessees reported income of over Rs 50 crore during the year, the data released by the tax department showed that less than 5 lakh assessees reported earnings of Rs 1.25 lakh per month.
For India to meaningfully cash in on the gradual shifting of China from the apparel sector, it needs to move quickly to ease barriers to the import of man-made fibres, facilitate access and encourage investments
The committee, attached to the Ministry of Finance, held its second meeting on Wednesday which was attended by Finance Minister Arun Jaitley. Some members also suggested that a committee be constituted to finalise the recovery process in case of loans given to big corporate houses.