Top five business stories on Thursday

E-commerce players to display country of origin on their platforms
Online marketplaces like Amazon and Walmart owned Flipkart have agreed to compel merchants to start prominently displaying “country of origin“ for all goods sold online in India. Company executives attended a meeting with commerce ministry officials on Wednesday. They have asked for sometime to get all sellers to disclose country of origin of the products they sell on e-commerce platforms.

Flipkart to start video KYC solution to offer instant credit

Imported good from China held up at Ports: Reports
Apple, Cisco and Dell products are among the goods from US companies being withheld in Indian ports border tensions with China flare up along the LAC according to reports. Though no government notice has been issued, customs officers at major Indian port have held back containers coming from China, seeking additional clearances according to industry sources.

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Hetero prices generic COVID-19 drug Remdesivir at Rs 5400 per vial
Hyderabad-based Hetero Labs Ltd has priced its generic version of remdesivir, Gilead’s experimental COVID-19 drug, at Rs 5,400 per100-milligram vial. Cipla has priced its own version of the antiviral drug around Rs 5,000. Both companies have licensing agreements with US-based Gilead Sciences, the original manufacturer of remdesivir, to make and sell the drug in 127 low- and middle-income countries.

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Income tax return (ITR) filing deadlines extended
The government has extended the deadline for filing income-tax returns (ITR) for the 2018-19 fiscal by a month till July 31, 2020. The Centre has also extended the time limit for linking Aadhaar card with PAN card till March 31, 2021. In the wake of coronavirus pandemic, the Central government earlier extended the deadline for filing income tax returns (ITR) for FY2019-20 to November 30, 2020.

COVID-19 impact: Cognizant lays off off bench employees
IT major Cognizant has begun terminating its bench employees as the business has taken a it on the back of COVID-19 epidemic. Employees allege that terminations are happening at associate level and those employees who are on the bench unable to secure a project for 35 days are being scrutinised

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