If the company A is located in a non-GST state, it would pay a total tax of Rs 300 (Rs 200 on finished product and Rs 100 on input), compared to Rs 200 paid by other producers in a GST state. The Centre is hoping that in such a scenario companies in GST states would lobby for introduction of the pan-India tax, which will subsume most state and Centre-level taxes.
Officially confirming the change in tack for the first time after months of speculation, Kuldeep Goyal, BSNL's chairman and managing director, told Business Standard, "Foreign partners definitely bring in some expertise that will help the company improve its performance."
Reliance Power Ltd, part of the Reliance Anil Dhirubhai Ambani group, is in talks with five leading global power companies to sell 15 per cent equity stake in the company. Preliminary talks have started with three Chinese power companies, which include China Light and Power Holdings, and French and Canadian companies.
The Foreign Investment Promotion Board has made it clear that Press Notes 2 and 4 issued in February 2009, which changed the way indirect foreign equity would be treated in calculating foreign investment levels in Indian corporations, cannot take effect retrospectively for proposals before the board.
Key roadblock: Constitutional amendment required to provide wider taxation powers to Centre, states.
The sole exception would be the Rajasthan circle (which can accommodate only two operators). The West Bengal and North-East circles would be able to accommodate only four operators. The numbers are based on the latest note prepared by the DoT. The availability of spectrum is a key element that determines the auction price of spectrum. Higher availability means a lower price.
Corporate Affairs Minister Salman Khursheed said his ministry would push for affirmative action in the corporate sector through fiscal incentives.
Prospects of a stable government at the Centre have prompted at least six economic forecasters to raise their growth estimates for the current fiscal, citing lower-than-expected political risk after the recent general elections.
Under the Fiscal Responsibility and Budget Management Act, the Centre should have eliminated the revenue deficit and brought down the fiscal deficit to 3 per cent of gross domestic product by March 2008. This target was extended by a year. Then, due to the global economic crisis, the government decided to suspend implementation of the FRBMA. As a result, the fiscal deficit for 2008-09 crossed 6 per cent of GDP and is projected at 5.5 per cent in fiscal 2009-10.
Operators say 10-paisa, 25-paisa calls not possible.
Bharti Telecom, the unlisted holding company of Bharti Airtel, may issue fresh equity to the MTN group to give it the 25 per cent economic interest in India's largest mobile service provider.
The defence ministry had demanded the entire spectrum in the area up to 100 km from the international border. The DoT has rejected this, as also a proposal by the ministry asking for prime towns, including state capitals, to be put under the 'defence interest zone'.
Differences are growing among mobile operator lobbies over a government proposal to introduce an 11-digit access code in place of the existing 10-digit code from January 2010 for mobile services to accommodate a rapidly growing subscriber base.
It's celebration time for Bharti Airtel, which last week became the third telecom brand in the world to cross the magic 100 million-subscriber mark in a single country. The gap between Airtel and its nearest competitor, Vodafone, is now about 26 million subscribers.
Solicitor General of India Goolam Vahanvati has said no further allotment of spectrum beyond 6.2 MHz should be made to telecom operators till the report of the committee on its pricing and allocation is received.If the opinion is acted upon, it would affect companies like Bharti Airtel, Vodafone, Reliance Communications, Idea Cellular and Aircel, which have applied for extra spectrum in other circles.
Three telecom companies - Spanco Telesystems and Solutions, TVS Interconnect Systems (a TVS group firm) and Acme Tele Power - have emerged as the front-runners for state-owned Bharat Sanchar Nigam Ltd's (BSNL) Rs 30,000-crore infrastructure contract.
The Taj Mahal, the timeless masterpiece built by Mughal emperor Shah Jahan, along with other heritage sites like the Qutab Minar, will be valued in the government books at just Re 1. This is part of the broad move to move government accounts towards accrual-based accounting system from the cash-based one within the next five years. Like a corporate balance sheet and profit and loss account statements, the government too will undertake similar book keeping.
Soma Networks, a US-based provider of mobile Worldwide Interoperability for Microwave Access (WiMAX) products and services, plans to launch compact WiMAX-enabled devices in India within six months.
The decks have been cleared for the appointment of TDSAT member JS Sarma as the new chairman of the Telecom Regulatory Authority of India (Trai). Sarma will succeed former Trai chairman Nripendra Mishra who retired on March 22, 2009.
The investigation arm of the Monopolies and Restrictive Trade Practices Commission, the country's anti-trust body, has launched a probe against 10 cellular service providers, including state-owned ones, for allegedly charging customers for Short Message Services that are not delivered.
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