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News on Medial
Depop sellers faced ongoing payment delays due to tech issue, company admits
TechCrunch
·
1y ago
Medial
Sellers on Depop, the clothing resale app owned by Etsy, have been experiencing delayed payments. Many sellers have reported that their payment dates have been repeatedly pushed back, with little response from Depop's support team. The issue has caused frustration and concern among sellers, with some considering discontinuing their use of the platform. After being contacted by TechCrunch, Depop acknowledged the issue and stated that they had fixed the problem and that all pending payments had been sent out. Additionally, Depop has been implementing an unannounced extra fee for buyers, causing further dissatisfaction among users.
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Outlook Start-Up - Latest news on Start-ups, Tech Start-ups, Unicorns, Investors, VC Funds, IPO, Venture Capital, Funding Winter, Funding, and AI
OutlookIndia
·
2m ago
Medial
Edtech company Byju's has temporarily removed its flagship app from the Google Play Store due to a payment issue with Amazon Web Services (AWS). The suspension is reportedly a result of delayed payments to AWS for services provided. Byju's aims to resolve the payment issue promptly and restore the app's availability on the platform. This development highlights the challenges faced by the company amidst its ongoing efforts to stabilize its financial and operational standing.
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Eternal gets Rs 1.34 Cr GST demand order for FY22, plans to appeal
YourStory
·
3d ago
Medial
Eternal, a consumer tech platform, received a Rs 1.34 crore GST demand from the Uttar Pradesh State Tax Authority for the FY 2021–22. The demand includes taxes and penalties due to alleged short payment and excess input tax credit. Eternal plans to appeal the order, asserting a strong case on its merits. This situation is reminiscent of a past issue faced by Zomato, highlighting the ongoing complexities in the taxation of tech companies.
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Gensol Engineering shares tumble 30% in two sessions; here's why
Business Today
·
5m ago
Medial
Gensol Engineering, a provider of EPC services for solar power plant development, faced a credit rating downgrade by CARE Ratings. This was due to ongoing delays in servicing its term loan obligations, as reported by its lenders. As a result, the company's shares have tumbled over two sessions.
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Nazara Technologies to challenge Rs 2.84 Cr GST demand over export payment delays
YourStory
·
6m ago
Medial
Nazara Technologies received a demand of Rs 5.68 crore from tax authorities for back taxes, penalties, and interest due to export payment delays, with Rs 2.84 crore under GST laws. The company plans to appeal, stating it won't materially affect operations. Nazara's subsidiaries previously faced GST liabilities of Rs 1,120 crore but obtained temporary relief. These subsidiaries contribute minimally to Nazara's revenue. The GST Council raised the tax rate for online gaming to 28% recently.
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Byju’s disburses part of pending salaries, to pay balance soon: Report
Business Today
·
1y ago
Medial
Edtech firm Byju's has partially disbursed the pending February salaries for all employees but assures the remaining balance will be paid once the funds from the recently closed rights issue become accessible. The company has made alternate funding arrangements to ensure employees' daily lives are not impacted. Byju's had been unable to pay salaries due to funds raised through a rights issue being locked in a separate account due to an ongoing dispute with investors. The company has faced several challenges including layoffs and a slowdown in demand for online learning services.
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Widespread Microsoft outage takes email and video conferencing offline
Economic Times
·
8m ago
Medial
Microsoft experienced outages on Monday due to a faulty software update that affected its email and videoconferencing systems. Users reported issues with Outlook and Microsoft Teams, and the problem was attributed to recent software changes. Microsoft acknowledged the outage and deployed an update to address the issue, but recovery efforts faced delays. The company did not provide a timeline for a full fix, and this rare incident highlighted the vulnerability and dependence on computer systems in today's world.
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GST sleuths tracking merchants skipping tax via digital payments
Economic Times
·
11m ago
Medial
The Directorate General of Goods and Service Tax Intelligence (DGGI) is partnering with startups, payment aggregators, and payment gateways to monitor online merchants for tax evasion. Small merchants often engage in selling products that attract lower GST despite enlisting as sellers of different products. The government and the Reserve Bank of India (RBI) are cracking down on such behavior. While payment aggregators conduct due diligence during onboarding, continuous monitoring is lacking. The RBI has drafted guidelines on ongoing monitoring of merchants by payment aggregators to ensure correct taxes are paid. Fraud detection platforms help in flagging suspicious activities and fake UPI IDs used for fraudulent transactions.
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Sellers on Flipkart facing issue in changing price, firms denies any intervention in pricing
Economic Times
·
1y ago
Medial
Some sellers on Flipkart are facing issues in changing the prices of their products due to a new commission rate card introduced by the e-commerce company. However, Flipkart denies any involvement in influencing pricing and claims to be working with sellers to help them understand the new rate card policy. Only select sellers are experiencing this problem, and Flipkart has assured them that the issue will be resolved soon. The company states that the new rate card policy aims to optimize growth for sellers and enhance settlement transparency. Since implementing the changes, there has been an increase in transactions and active sellers on the platform.
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Nothing data leak: Company admits ‘vulnerability’ hit community members' data
Livemint
·
1y ago
Medial
UK smartphone brand Nothing has confirmed the discovery of a vulnerability affecting the email addresses belonging to its community members. However, the company stated that no personal information, such as passwords or payment details, was compromised. The data leak was discovered nearly a year and a half ago, and immediate action was taken to address the issue. No further details regarding the cause of the leak were shared. In unrelated news, Nothing has released an update for its Nothing Phone (2) that includes voice conversation features with ChatGPT.
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The disarray inside Boeing’s 737 factory before the door plug blowout
Livemint
·
1y ago
Medial
Last year, workers at Boeing's Renton factory faced mounting pressure and delays on a future 737 MAX jet, which later experienced a partial door failure during a flight. Internal communications revealed that employees had flagged damaged rivets on the fuselage, but faced difficulties in getting the issue addressed and documented. As delays piled up, crews struggled to keep up with the production schedule and production pressure intensified. The incident sparked investigations and leadership changes at Boeing, prompting a renewed focus on safety and quality. The company is also in talks to acquire supplier Spirit AeroSystems to address quality concerns.
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