Important decisions taken at 40th GST council meeting held on 12 June 2020, Tax updates All You Need To Know

Important update and decisions made from The 40th GST council Meeting held on 12th June 2020

gst, gst update, gst news

5 points from the GST council meeting held today.

1️⃣ For all those who have no tax liability but have not filed GST returns for tax period July 2017 – Jan 2020 (prior to #COVID19 period), there shall be no late fee at all.

2️⃣ For people who have tax liability, maximum late fee for non-filing of GSTR-3B returns for period Jul 2017 – Jan 2020 has been capped to ₹ 500.

This will apply to all returns submitted during Jul 1, 2020 – Sep 30, 2020

3️⃣ For small tax payers whose aggregate turnover is up to ₹ 5 crore, the rate of interest for late furnishing of GST returns for Feb, Mar and April 2020, beyond July 6, 2020: the rate of interest is being reduced from 18% to 9%.

4️⃣ Small tax payers whose aggregate turnover is up to ₹ 5 crore will be provided a waiver of late fees and interest if they file the form GSTR-3B for the supplies affected in months of May, June and July 2020, by September 2020.

5️⃣ Tax payers who could not get cancelled GST registrations restored in time are being given an opportunity to apply for revocation of cancellation of registration upto September 30, 2020 in all cases where registration has been cancelled till June 12, 2020.

Source: Ministry of Finance – official Twitter channel

Why Jio Is Raising Funds Continuously? The Amazing Plan Of Jio- Explained

Jio again rose funding even during lockdown!


Four weeks, Four funding, $ 8Billion rose. 

Mukesh Ambani who owns the Reliance Industries Limited; is the richest person in India. He personally invested $35 Billion in Jio and made it profitable in just 4 years.


Mukesh Ambani who owns the Reliance Industries Limited; is the richest person in India. He personally invested $35 Billion in Jio and made it profitable in just 4 years.

Now, why is he raising fund again and again? Since, Reliance was primarily known for the traditional approach of self-investing.

Through this article we will try to understand why Jio is raising so much of funding, and would try to understand the future plans of Jio, the impacts of the Jio funding in Indian economy and ecosystem.

1st thing first, if Mukesh Ambani has thought to invest his time and effort somewhere; that simply means he has some crazy planning probably no one has thought so far !


Let’s begin.

During the lockdown, many of the startups are literally facing the serious challenge of financial loss. They had to cut down their employees’ salary and some startups fired huge number of employees even.  Swiggy being one of them, if you haven’t read that yet, you can read it from here.

The main sufferers are the offline startups, who even stepped into different segments; but meanwhile Mukesh Ambani was playing his own game !


Let’s take a quick view- 

Now, let’s talk about the reasons why jio is raising this much of funding. Reason 1.The mission of Digital India- Since during the launch of Jio from 2016, the mobile Internet penetration has literally hiked. He gave free internet to the users and emerged as the biggest telecom network of India.

-On 22nd April 2020, Jio platform raised funding of $5.7 Billion from Facebook Inc. in exchange of it 9.99% stake.

-On 4th May 2020, Silver Lake invested INR 5,656 Crore for 1.15% stakes.

– On 8th May 2020, Vista Equity Partners Invested INR 11,367 Crore in exchange of 2.32 % Stake

-On 17th May 2020, General Atlantic Invested INR 6,598 Crores for 1.34% stake.

If you missed to read about the Jio Deals, you can read this here for Free.


Now, let’s talk about the reasons why Jio is raising this much of funding.



Reason 1.The mission of Digital India

Since during the launch of Jio from 2016, the mobile Internet penetration has literally hiked. It gave free internet to the users and emerged as the biggest telecom network of India.

Since during the launch of Jio from 2016, the mobile  Internet penetration has literally hiked. It gave free internet to the users and emerged as the biggest telecom network of India. 

And it was a clear vision to make India as a digital economy, therefore in almost every 3-4 weeks Jio started acquiring companies (like Grab, haptic, Saavn, fynd, Tesseract,DEN, hathway, Embibes, Reverie, Embibe) from different segments  it was a hard puzzle to solve that time.

Even Ambani invested in Artificial intelligence, Machine Learning, Augmented Reality, Internet Of Things, and Big Data Analytics . 

So, basically he is planning to connect all these companies and technologies to a common platform of Jio. Remember those Jio-chat app, Jio Saavan, Jio Express, Jio Money, Jio TV, Jio Cinema etc , and to integrate them properly, he is raising huge funding.

Reason 2. Help & Guidance In Technology

“Hein…. !!! Are you mad or what! Reliance is mainly into Petro-chemical and oil industry, now it is entering in retail sector. Why would Reliance want to be a tech company?”

Well! This is my blog and I can write anything I wish..  😛

(sorry for the lame joke)






Coming back to the topic, almost all of the most valuable companies of the world; be it Amazon or Microsoft; all of them are tech companies. And seeing the growth in these sectors, the Indian Business Magnate Mukesh Ambani is all set to step into tech sector. 

Sounds amazing?  


Now, Reliance understood the growth factor in the tech sector as it is normally easy to raise valuation and user base.

Keeping this in mind, when Jio was launched, it was primarily focused on mobile data, as Ambani knew if he is planning to make the telecom company as a tech company he will need to focus on the technology and innovative team from the beginning

But yet after acquiring various tech companies he was lacking behind. Analyzing this issue as an opportunity, Facebook Inc. forwarded helping hand, which end up in Jio-Facebook deal.

Now, Facebook will not only help in technological aspects, but would solve the another issue that Jio is facing- “the less user base in its platforms( Jio-chat, Jio Movies,etc).

Jio then decided to use the whatsapp platform, as it has more than 400M users in India, and since whatsapp is very easy to operate.

The concept of Jio Mart came from here, which they have launched already.

“Data is the new Oil”, do you remember this statement made by Mukesh Ambani few years back?

When he told this everyone was praising him for this statement, but he has started implementing it.  

Reason 3. The Debt Factor:   

Till 2012 Reliance was going in its full swing without any debt. But they thought to do bigger in the industry, decided to offer free internet in India and ended up with $21 Billion Debt.   

Reliance aims to become debt free by 2021, and this being one of the major reason , Jio is continuously raising funds.

Now, you might think “Why would Reliance want to become debt free so early. Why don’t they wait for few more years?”

Well ! The Zero debt reflects a very positive image in the eyes’ of investors.


If you haven’t read how you can raise funding for your startup, read it here. 

Reason 4. The vision of 5G Technology- 

You must have heard reports stating ‘Jio is ready for 5G or ready to upgrade whenever the new technology arrives’.

When companies like Vodafone Idea and Airtel is working with Huawei, since Huawei is very advance is 5G technologies. 

5g in india, jio launching 5g in indiia

But, Jio has some other plan, and if this is successful; the worlds will see a different India!

Jio is planning to manufacture the 5G technology by itself and therefore it acquired US based tech company ‘Radisys Technology’ in $67 Million, and has integrated it with its subsidiary ‘Rancore Technologies’, and are working in making the 5G equipment.

Even when India will start 5G services, the telecom company needs to buy the spectrum. And this might be a reason why Mukesh Ambani is collecting huge amount as a backup to buy spectrum!

And that’s all in this article. I am going to play Ludo King now. BTW if you haven’t read the Business and Revenue model of Ludo King, Do check this here. Their revenue in March 2020 will surprise you.  

Disclaimer- The points mentioned in the articles contains the personal view of the writer and, is structured on the basis on facts and figures available on the web. The mentioned brand logo is/are the Intellectual Property right of its owner, and is used to provide relevancy to the topic.

1500 Crores for Shishu Mudra Loan. What is this Loan all about Who Can Take Advantage Of This Scheme

Finance Minister N. Sitaraman announced 1500 Crores for Shishu Mudra loan.


Central Finance Minister once again announced financial package for the Migrant labors, Street Vendors, Small scale Farmers and urban poor.


The Finance Minister announced about the Shishu Mudra Scheme, under which the loan borrowers will get 2% off in the interest for the next 12 months. This will result in saving 1500 crores saving, and government will pay the amount. 

shishu mudra loan all that you should know

Who is eligible for Shishu Mudra Sheme loan-

Through this scheme, the government seeks to help the small scale businesses, and this loan is only for small scale businesses.


Through Pradhan Mantri Mudra Yojana  (PMMY) the government is giving loan in three steps. The government has divided this into- Shishu loan, Kishor loan and Tarun loan.

This is Shishu Loan Yojna –

Through this scheme, one can get loan to open a shop. And can get loan upto 50,000. He can earn from this. 

 This is Kishor Loan Yojna- 

Through Kishor Loan Yojna one can get loan from Rs. 50,000 till 5 Lakhs.

This is Tarun Loan Yojna-

If someone is willing to start small scale business, he can apply for this financial help.

Through Tarun Loan Yojna the central government will give loan of Rs.5 Lakhs upto 10 Lakhs. 

Through this scheme, one can get loan from any Gramin banks, Government banks, Co-Operative banks and Private banks based on the eligibility criteria. 

Conclusion: The Central government has announced various financial schemes for the MSMEs. Shishu Mudra loan is one of them. we have mentioned the available information. 


As per the reports, all the government banks, gramin banks, co-operative banks and all private banks can give loans based on the various eligibility. 


But one thing that is common is that these loans are provided to those businesses who are MSME registered and hold MSME Certificate. If you do not have the MSME certificate yet, you can contact us. The MSME registration is FREE, NO GOVERNMENT IS THERE. If you want help from us to apply, we charge a nominal professional fee for the same. 

Related articles: Ludo King Earning in month of March- The Revenue and Business Model


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