The apex court raised the ceiling limit of iron ore mining from 28 MMT to 35 MMT for Ballari district, and from 7 MMT to 15 MMT for Chitradurga and Tumkur districts.
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.
The meeting has been called as the Finance Minister P Chidambaram did not extend a March 31 deadline for the trusts to get regular tax exemption through the Employees' Provident Fund Organisation.
The announcement of a deferral is expected to be part of Finance Minister Arun Jaitley's Budget speech on February 29.
The Supreme Court on Tuesday upheld the validity of two central laws and the corresponding rules that provide for a maximum tenure of five years for the directors of the CBI and Enforcement Directorate.
Besides central cess, the Empowered Committee of State Finance Ministers has also recommended to keep purchase tax and octroi, which are collected at state and local levels, outside the GST framework.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
Finance Minister Pranab Mukherjee said 'yes' in a written reply to the Rajya Sabha when asked whether the chairman of the Empowered Committee of the State Finance Minister has expressed the opinion that it was not feasibile to implement GST from April 1, 2010.
The empowered committee of state fnance ministers had recommended to the finance ministry that the Centre should provide direct budgetary support and transfer more services to states on account of the rate cut, sources said. States have refused to hike the value-added tax rate on more than 250 items like drugs, agricultural and industrial inputs from 4 per cent to 5 per cent to make up for revenue loss.
There is a proposal to term forests as areas so notified and not include plantations on private land.
In a move that will significantly reduce paperwork for producers of goods and services, the draft recommendations submitted by the all-states joint working group on goods and services tax (GST) have said one document will have to be filed.
Petroleum products such as crude, motor spirit and diesel, and alcohol beverages will be kept outside the dual goods and service tax (GST) structure, which will be implemented from April 2010.
At present, the EPF subscribers are exempted from paying income tax on deposits.
The Bill was introduced in the Lok Sabha in December.
If states are to levy service tax, a combined GST will become a nightmare since a host of tax departments in each state will also have to be dealt with.
At least 11 states accounting for two-third of the country's trade and industrial output are ready to introduce value-added tax from June
An official panel on Tuesday ruled out any increase in value added tax (VAT) rates as part of a package to compensate states on account of revenue loss due to a one per cent cut in Central Sales Tax that was to have happened in the beginning of this fiscal.
The Centre is planning to establish a Taxation Information Exchange System to track inter-state trade of all commodities after the phase-out of Central Sales Tax.
The official panel on value added tax decided on Thursday to ask the Centre to cut Central Sales Tax, imposed on inter-state movement in goods, to three per cent from the current four per cent from October.
Forest land that will also be exempted includes land situated within 100 km along the international borders, Line of Control, or Line of Actual Control, proposed to be used for construction of strategic linear projects for national importance or security.
The Assam government wants to ban polygamy as "a component of the Uniform Civil Code" and will form a committee to examine whether the state legislature was empowered to prohibit the practice prevalent in parts of the state, Chief Minister Himanta Biswa Sarma said on Tuesday.
'There is ample evidence to suggest that attacks on the PM's probity and his connections with business houses do not resonate with voters.'
Six more states are set to join the value added tax regime from April
At a meeting of the Empowered Committee of State Finance Ministers, the Centre's plan to bring petroleum goods under GST regime was opposed.
The Supreme Court on Friday said lawyers and professionals with 10 years of experience will be eligible for appointment as president and member of the state consumer commission and district forums.
Maharashtra is likely to incur a revenue loss of Rs 1,500-2,000 crore (Rs 15-20 billion) in the current fiscal due to implementation of value added tax.
FM said a Constitution Amendment Bill for introduction of GST will be passed soon.
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.
The panel said that vacant posts in the CBI are not being filled up at the required pace and recommended that "every effort should be made to fill up vacancies at the earliest".
The Samyukta Kisan Morcha on Wednesday said that a consensus has been reached over a revised draft proposal of the Centre on their pending demands and it will now meet on Thursday to decide the future course of the movement, even as its leaders demanded a formal communication on government letterhead.
States have been told to prepare in advance to counter any impact of an adverse southwest monsoon.
The Jammu and Kashmir administration has neither accepted nor rejected the demand but the protest had to be suspended as stopping of salaries is 'choking us financially', protesters affiliated to the All Migrant (Displaced) Employees Association Kashmir (AMEAK) said.
'Interim Budget has ignited the entrepreneurial spirit.'
However, the bill will have all major provisions of the ordinance, promulgated by the central government on May 19, a week after the Supreme Court handed over the control of services in Delhi excluding police, public order and land to the elected government headed by Chief Minister Arvind Kejriwal.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
The matter came up before Justice Subramonium Prasad who listed it for hearing on October 16.
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