12:21 pm - Tuesday November 3, 2015

Infosys in Focus on Buzz of Winning Contract for GST Network

29 Viewed Alka Anand Singh Comments Off on Infosys in Focus on Buzz of Winning Contract for GST Network
infosys-new-625_625x300_51437453273

Infosys shares edged higher by 0.30 per cent on Monday after reports, citing sources, said the IT major has bagged the contract for building the goods and services tax (GST) network across the country for rolling out of the new indirect tax regime.

Reports pegged the value of the contract at Rs 1,320 crore. The government plans to implement the GST, which would subsume central excise, service tax and other local levies, from April 1, 2016. Despite the inability of the government of pass the GST bill in the monsoon session of Parliament, Finance Minister has expressed optimism about rolling out the new tax regime next year.

The government had floated the request for proposal for setting up GST network on April 21; July 6 was the closing date for bidding.

A Press Trust of India, citing sources, had earlier said that TCS, Wipro, Tech Mahindra and Microsoft were the other bidders for setting up the GST network. A strong technology backbone is essential for successful roll-out of single rate GST across the country.

However, Infosys shares gave up gains in afternoon trade amid weak broader markets. As of 2:14 p.m., shares of Infosys traded 0.2 per cent lower at Rs 1,102. In comparison, the Nifty was down 0.3 while the BSE IT index was also down 0.3 per cent.

Click here to submit your review.


Submit your review
* Required Field

Don't miss the stories followIndiaVision News and Information and let's be smart!
Loading...
0/5 - 0
You need login to vote.
Filed in
law

Govt likely to implement Companies Act fully by March 2016

Washington - A new study has suggested that more mid-life job stress means more health problems during old age. The research from Finland found that both physical and mental job strain were linked to illness later in life, Fox News reported. Mental job strain is generally a result of tight deadlines, high demands and having little control over one’s work, while physical strain includes sweating, breathlessness and muscle strain. Lead researcher Mikaela von Bonsdorff explained that occasional feelings of job strain are not necessarily a bad thing, but persistent high job strain has been identified as a health hazard. The new findings come from a study of more than 5,000 middle-aged Finnish public sector employees who were initially surveyed about stress at work in 1981.The researchers combined that information with data from national hospital records spanning the next 28 years. It was found that with higher strain in midlife, days in the hospital for both men and women tended to increase, especially for physical strain, but for mental strain, the link was only clear among men.

Hiring activity up 13% in August, says Naukri survey

Related posts