Kaalakaandi Box Office Collection Day 1: Saif Ali Khan’s Film Gets A ‘Slow Start,’ Collects…

Kaalakaandi Box Office Collection Day 1: Saif Ali Khan's Film Gets A 'Slow Start,' Collects...

Box Office: Kaalakaandi: Saif Ali Khan in the film. (Image courtesy: Kaalakaandi Film)

NEW DELHI: 

HIGHLIGHTS

  1. Kaalakaandi features Saif Ali Khan in the lead role
  2. The film grosses Rs. One crore
  3. The film also stars Deepak Dobriyal

Saif Ali Khan’s latest release Kaalakaandi, which opened to positive reviews on Friday, has ‘grossed one crore net’ at the box office on Day 1, Box Office India reported. The film stars Saif Ali Khan as the protagonist, who has been diagnosed with stomach cancer. Saif’s character does not have much time in hand and he realises that he should make the most of the remaining days. Box Office India also reports that because the film is set in the backdrop of Mumbai, it has performed a little better in Mumbai and Pune as compared to other cities. Earlier, of Kaalakaandi, film distributor Akshaye Rathi told Indian Express that the film will perhaps manage a score of Rs.1.5 crores on opening day and that the first weekend collections will be limited to single figures.

Kaalakaandi released at the box office with Anurag Kashyap’s Mukkabaaz and Zareen Khan’s 1921.

1921 was the best out of the three films with collections set to be in the 1.50 crore net range, reported Box Office India while Mukkabaaz had the lowest number with around 75  lakhs net.

In his review for NDTV, film critic Saibal Chatterjee gave Saif’s film 3 stars out of 5. “For cinema trivia geeks, Kaalakaandi is strewn with interesting takeaways. The principal protagonist (Saif Ali Khan), who like the conscientious but dull bureaucrat Watanabe in the Akira Kurosawa classic Ikiru, is diagnosed with stomach cancer and given only a few months to live. The multiple tales unfold in parallel arcs. It is only in the penultimate scenes and a zany final shot that the plot connects a few of the characters but only in a tenuous manner. Kaalakaandi takes a while to warm up but when it does it sets a lively pace, especially in the second half,” he wrote.

Apart from Saif Ali Khan, Kaalakaandi also stars actors like Deepak Dobriyal, Vijay Raaz and Kunaal Roy Kapur.

[“Source-ndtv”]

Flipkart, Amazon, Snapdeal Argue Against GST’s Tax Collection at Source Provision

Flipkart, Amazon, Snapdeal Argue Against GST's Tax Collection at Source Provision

Flipkart, Amazon, Snapdeal Argue Against GST’s Tax Collection at Source Provision
HIGHLIGHTS
Flipkart, Amazon, Snapdeal partnered to lobby against a GST provision
They want the tax-collected at source requirement removed
They argue that this provision will increase complexity and costs
At a press conference organised by FICCI on Thursday, the heads of Amazon, Flipkart, and Snapdeal all found common cause as they expressed their worries about the TCS (Tax Collection at Source) provision of the GST (Goods and Services Tax). Under this provision, online marketplaces are responsible for collecting – and paying – taxes on behalf of their sellers. This is something that all three companies, the major players in the e-commerce space in India, are against, as they argue it will hamper the growth of e-commerce.

Currently, e-commerce operators share data on sales to the government periodically to ensure tax compliance. In the proposed model, additional TCS reporting, reconciliation, and governance could lead to greater complexity of business operations, and block capital, the companies argued. They contended that the clause is detrimental towards e-commerce companies that have brought in
billions of dollars of investment. The draft model GST law is due to be finalised at the end of this month.

Kicking things off, Snapdeal co-founder and CEO Kunal Bahl stated that “e-commerce is vociferously for GST.” This was a sentiment that was echoed by Amit Agarwal, Amazon India Head, who added that TCS can change the growth trajectory of e-commerce, and that is a cause for concern. “Tax collection at source is an exception created for online, it isn’t there for offline,” he added.

“All of us are investing ahead of scale and a lot of the investment is going into building the right infrastructure and ecosystem, in training/educating sellers and bringing them online and that attracts consumers to come to our marketplaces… This flywheel has been spinning for the last few years… when the ecosystem gets excited, a lot of other industries benefit,” Agarwal said.

Flipkart co-founder Sachin Bansal added, “none of us is saying that GST is bad, it is a transformative step for e-commerce,” but added, “tax collection at source is an area of concern in GST for e-commerce.”

“Due to TCS, close to RS. 400 crores per annum of capital will be locked into the system,” he added. “It will hamper working capital.”
Given that there are thousands of sellers and merchants on each platform, the shopping portals say TCS will be cumbersome and time consuming, and discourage sellers. “Success of e-commerce industry is contingent upon the success of small businesses,” Bahl added.

“The proposal, while adding needless complexity for the sellers, provides no benefit to the tax authorities and will lead to duplication of information followed by the need for its reconciliation,” Bahl also said.

They say a thorough impact analysis of this tax provision on the online marketplace has not been carried out diligently. Now with the draft model GST law due to be finalised at the end of the month, the urgency is apparent.

FICCI Secretary General Dr A Didar Singh also said that “e-commerce created the first national market of the country, GST just enhances that.”

On the risk of tax evasion by sellers, Bansal said that sharing of information can help prevent this. “Tax evasion can be avoided by sharing of information,” he said. “We are already doing this with the states.”

Gadgets 360 has reached out to all the three companies seeking further comments, and we will update this article on getting replies.

Tags: Flipkart, Snapdeal, Amazon, Goods and Service Tax, GST, FICCI, Lobbying, online marketplaces, ECommerce

[“Source-Gadgets”]

Rajan Launches ‘Sachet’ Portal To Check Illegal Collection Of Deposits

Dr Rajan said the website enable sharing of information about illegal acceptance of deposits
Dr Rajan said the website enable sharing of information about illegal acceptance of deposits
The Reserve Bank of India (RBI) on Thursday launched a portal to curb illegal collection of money by companies.

This website will enable public to obtain information regarding entities who accept deposits, lodge complaints and also share information regarding illegal acceptance of deposits, said RBI Governor Raghuram Rajan while launching the ‘Sachet’ portal.

“Initiating quick follow up and taking cases to logical conclusion by punishing the guilty is paramount to deterring entities in future from carrying out unlawful activity. I hope ‘Sachet’ would help regulators in doing this as much as it would help members of public in depositing their hard earned money with genuine companies by giving them timely information about them,” Dr Rajan said.
The website would also help enhance coordination among regulators and state government agencies.

Explaining the features of the website, Deputy Governor SS Mundra saidpeople can file and track a complaint on this website if any firm has illegally accepted money from them or defaulted in repayment of deposits.

People can also share information regarding any such entity on this portal, he said.

The website also incorporates regulations prescribed by all financial regulators that one has to follow. ‘Sachet’ also has a section for closed user group for State Level Coordination Committee (SLCCs) wherein they could share market intelligence and other information about their activities as well as agenda and minutes of meetings across the country in real time.

 

[“source-ndtv”]

Netflix broadcasts Its First unique Indian collection, based on ‘Sacred video games’

Netflix Announces Its First Original Indian Series, Based on 'Sacred Games'

HIGHLIGHTS
Netflix has partnered Phantom films to make its first Indian authentic collection.
Sacred video games is one of the bestseller books by Vikram Chandra.
The series is shot in India, says Netflix.
digital streaming provider Netflix has introduced its first India-set series, based totally on Vikram Chandra’s critically-acclaimed novel Sacred games.

The Hindi-English series can be produced through Netflix in partnership with filmmaker Anurag Kashyap’s Phantom films.

Set in Mumbai, Sacred video games delves into the town‘s intricate web of organised crime, corruption, politics and espionage that lie underneath India’s monetary renaissance.

“Over the last few years, i’ve watched with tremendous excitement and pleasure as Netflix has convertednarrative television with its floor-breaking, style-bending suggests. i am assured that all the shade andvitality and tune of the fictional international i have lived with for goodbye will come fully alive at thebig-scale canvas provided by using Netflix. i’m pleased to be operating with Netflix and Phantommovies,” Chandra stated in a declaration.

we are very glad to begin this adventure with Netflix by way of producing Vikram’s exceptional story, set in Mumbai,” stated Madhu Mantena of Phantom movies. “And we’re extraordinarily confident that,collectively we will create some interesting and ground-breaking television content material from hereon.”

we are extremely joyful to accomplice with innovative powerhouse, Phantom movies, to bring Vikram Chandra’s epic novel to lifestyles with the fine Indian and international movie expertise to be hadnowadays,” said Erik Barmack, vp of worldwide unique collection at Netflix. “Sacred video gamesreinforces our commitment to convey the authenticity of local memories to Netflix individuals across one hundred ninety countries global.”

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Tags: Apps, Bollywood, home enjoyment, India, net, Netflix, Netflix India, Phantom movies, Sacred video games