The long-pending issue of seizure of Indian generic drugs by European Union countries has been resolved, with the EU accepting India's position and agreeing to amend the rules to plug the loopholes that led to the seizure of shipments.
A recent decision of the high court in Chennai on the levy of service tax on software sale has made the Union finance ministry hopeful of a similar verdict in the case of copyright services.
The empowered committee of state finance ministers has approved the position paper of the Centre on the information technology network for the proposed indirect tax regime.
PepsiCo India is planning to launch beverages and snacks priced below Rs 5. This is part of a drive to address the mass market looking for nutritional products. The new range, being developed in India, is expected to be launched on a pilot basis in select markets by next year.
The income-tax department intends to bring individuals under the ambit of the proposed controlled-foreign companies (CFCs).
The old Bimaru area comprises 36 per cent of India's population, with 40 per cent of India's youth.
Despite their slugfest on the high street, Korean chaebols Samsung and LG have independently charted a similar strategy that will see India operations carve out a larger slice of their global turnover
In a counter affidavit filed in the court, the department has said that temporary transfer of rights to copy in a limited manner will be chargeable to service tax.
In an attempt to get states to implement the Goods and Services Tax (GST) by next April, the Centre has softened its stance on most proposals in the draft Constitutional Amendment Bill that Finance Minister Pranab Mukherjee hopes to pilot in the monsoon session.
Says banks strong enough to tackle the problem on their own
But contentious areas like special economic zones, capital gains and Ulips may see changes
Finance Minister Pranab Mukherjee had asked officials in his ministry to finalise the draft by August 20 so that it could be in Parliament before the session concluded on August 27, said a finance ministry official.
South Korean giant LG Electronics is working on using technology to revamp its product line by next year, based on three key parameters.
The labour shortage for the Games is about 20 per cent, according to Rakesh Mehta, chief secretary of the Delhi city government. He told Business Standard several projects are suffering due to this problem.
The product aims at capitalising on the interest generated in the health and wellness market and the run-up to the Commonwealth Games to be held here this October.
The changes to the original draft of the Direct Taxes Code are going to cost taxpayers, with the government planning to significantly alter the slabs.
The finance ministry introduced the tax for the first time on July 1, 2010. PVR Pictures, in its petition, alleged that copyrights are treated as goods and the transfer of copyrights are treated as sale of goods, which falls within the domain of taxation by states under Article 246, and not the Union.
Ravi Kapoor, head of global banking at Citi India tells that the success of the Centre's divestment programme hinges on attractive valuations
While saying money was due from Suzuki, the HC told the tax department to determine an appropriate arm's-length pricing mechanism in this case.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances