Empowered committee of state finance ministers on value-added tax has sought to allay fears of traders that the new tax system will lead to increase in prices, stating that the worldwide experience did not support this apprehension.
The empowered committee on value added tax will meet on Saturday to take up the issues arising after three months of implementation of the new tax system by 21 states, including compensation formula for any losses incurred by states due to VAT.
'Ultimately, we have to understand that we don't have the supply at the population scale. 'Therefore, it has to be prioritised.' 'That's what the government has done.'
In a major step towards introduction of Value-added Tax from April 2005, states on Wednesday endorsed a 'white paper' on the new tax regime, which would be formally issued on January 17.
Cloned journals have become more rampant in the post-pandemic world.
The much-awaited introduction of value added tax regime from April one this year will be delayed by a few days because of some "unavoidable procedural tangles".
The Bill was introduced in the Lok Sabha in December.
Arun Jaitley on Friday said he would defer the move.
A plea of the UK-based Vedanta group company to export its share of crude oil from Barmer oil field in Rajasthan was on Tuesday rejected by the Delhi high court on the ground that domestic crude cannot be exported till India attained "self sufficiency".
The Empowered Committee of State Finance Ministers has been asked to sort out some of the contentious issues on the value-added tax including the refunds on credit and exemption for exports.
The Supreme Court on Thursday cancelled 49 mining leases due to illegalities in Bellary, Tumkur and Chitradurga districts of Karnataka, but allowed resumption of activity in mines with lesser illegalities, as recommended by a Central Empowered Committee. CEC had categorised the mines in the area in three categories -- A, B and C. The mines with least or no irregularities were categorised as 'A' and those with maximum illegalities were placed in category 'C'.
The empowered committee delegation, including state finance ministers participated in two round table conferences sponsored by the Indo-Canada Chamber of Commerce and the Canada-India Business Council. Tax experts from Couzon Taylor, Brian Wurts, HST Consulting etc, made presentations at the Canadian Imperial Bank of Commerce event.
After being ticked off by the Supreme Court-appointed Centrally Empowered Committee over "erroneous and incomplete data" on mining, Goa Chief Minister Manohar Parrikar has sought to deflect the blame on erstwhile Congress regime for the "mess-up".
Union Minister for Rural Development Jairam Ramesh sanctioned Rs 1133 crore to Tamil Nadu for upgrading 3,000 kilometers of roadways under Prime Minister Gramin Sadak Yojana.
'People on the wait list will be accommodated for vaccination when the scheduled beneficiaries don't turn up.'
It will help to lower their costs by 7-8 per cent.
Bihar's Deputy Chief Minister Sushil Kumar Modi tells Ajit Jain about tax lessons he learned in Canada
Expressing shock at the magnitude of the alleged illegal export of 35 lakh metric tons of iron ore by private firms in Karnataka, the Supreme Court on Thursday said it wants to explore the possibility if the guilty could be punished within six months.
Centre is to allocate Rs 1,000 crore for Tamil Nadu from the Pradhan Mantri Gramin Sadak Yojana to lay roads in interiors of more than 1,000 kms connecting villages to main towns.
Maintaining that a Supreme Court appointed panel on Mullaperiyar Dam had accepted Kerala's demand for a new reservoir, Chief Minister Oommen Chandy on Friday said the state, which is locked in a row with Tamil Nadu on the issue, would bring it to the court's notice.
'It is also being done in violation of our Forest Tribal Act because it will involve the eviction of the tribals living in these forests.'
The mining scam had first rocked Karnataka and now Goa. While the mess in Karnataka is well known, the scenario in Goa is no different. The Central Empowered Committee in its interim report on illegal mining in Goa has found various illegalities in its detailed report, a copy of which is with Rediff.com.
The Supreme Court on Monday lifted its ban on iron ore mining operations in Karnataka by those companies which had not flouted lease conditions. A three-judge bench headed by Justice Aftab Alam accepted the report of its Central Empowered Committee, which had said that Category 'A' leases which consist of 21 operational and 24 non-operational leases should be allowed to carry on their business as they have not violated any rules.
After 17 tumultuous years, a nationwide Goods and Services Tax (GST) will rollout from midnight of June 30, overhauling India's convoluted indirect taxation system and unifying the $2 trillion economy with 1.3 billion people into a single market.
Member of the Supreme Court-appointed empowered committee on Mullaperiyar Dam, Justice K T Thomas on Thursday said it was unfortunate that some quarters had sought to politicise and whip up emotions on the panel's report, instead of looking at it rationally.
Coming out against the report of the Supreme Court-appointed Empowered Committee on Mullaperiyar dam, over which Kerala and Tamil Nadu are at loggerheads, Communist Party of India-Marxist veteran V S Achuthanandan on Monday said it was "unilateral and in favour of Tamil Nadu".
The Supreme Court-appointed Empowered Committee on the Mullaperiyar Dam, over which Tamil Nadu and Kerala are at loggerheads, has concluded that the 119-year-old structure is "safe" and asked the Kerala Government to reconsider its proposal to build a new dam.
The two-member technical panel comprising CD Thatte and DK Mehta had recently surveyed the dam site after Kerala expressed concerns over safety in the wake of recent tremors in the area
Prime Minister Manmohan Singh seems to be sitting on the proposal, while requests continue to flow in from states to add more names to the delegation.
The Oil Ministry has been trying since July to get an Empowered Committee of Secretaries to vet the separate price proposals of RIL and Essar but the panel has so far not decided to take up the issue.
FM said a Constitution Amendment Bill for introduction of GST will be passed soon.
Sushil Kumar Modi tells Business Standard the spirit of collective federalism needs to be heeded by all sides if the key reform is to become a reality.
The Empowered Committee on the controversial Mullaperiyar Dam issue on Wednesday submitted its report to the Supreme Court in a sealed cover which would be examined by a Constitution Bench.
Supreme Court-appointed Empowered Committee on the controversial Mullaperiyar Dam, over which Tamil Nadu and Kerala are at loggerheads, today finalised its much-awaited report on various aspects of the structure and will submit it to the court on Wednesday.
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