The contentious issue of value added tax was resolved on Tuesday with the state finance ministers deciding to implement from June 1 the new tax system in place of the sales tax.
The panel on value added tax has decided that items which have at least 50 per cent industrial use will attract 4 per cent tax rate for that particular use.
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.
The state-run Oil and Natural Gas Corporation has walked away with bulk of the 21 oil and gas exploration blocks in the fourth round of new exploration licensing policy.
Finance Minister Jaswant Singh will soon convene a meeting of state chief ministers to work out details for implementation of the much-delayed value added tax in the country.
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.
With only West Bengal sending in the draft amendments to Value-added Tax Bill, the finance ministry said on Thursday that a new roadmap will be drawn up for the implementation of the progressive tax regime, which was to be effective from June 1.
The crucial meeting of the empowered committee of state finance ministers on value-added tax began in New Delhi on Wednesday to resolve all pending issues to ensure smooth implementation of the new tax regime from June 1 this year.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
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.
In a relief to the Hindu side, the Supreme Court on Friday refused to stay the Allahabad high court order allowing the Archaeological Survey of India (ASI) to conduct a scientific survey at the Gyanvapi mosque complex to determine if the 17th-century structure was built upon a pre-existing temple.
Kishore said the Congress and its supporters are bigger than any individual and Gandhi should not be stubborn that it must be him who will deliver for the party despite repeated failures.
In an apparent climb-down from its earlier stance, the Empowered Committee on value-added tax on Monday gave in to the Centre's plan for a nationwide VAT implementation.
Prime Minister Narendra Modi on Friday announced a Rs 100 per cylinder cut in cooking gas LPG price to ease financial burden on households. Non-subsidised cooking gas price will be cut to Rs 803 per 14.2-kg cylinder in the national capital with effect from midnight of Friday/Saturday, official sources said. Prices vary from state to state depending on the incidence on local taxes.
'There is ample evidence to suggest that attacks on the PM's probity and his connections with business houses do not resonate with voters.'
After attacking the Jet-Etihad deal, Janata Party President Subramanian Swamy on Wednesday trained his guns on the Air Asia proposal to set up an Indian carrier, saying the FIPB clearance to it was "not legally valid".
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 ministry of education is yet to take call on the recommendations by the empowered expert committee and the University Grants Commission.
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.
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.
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".
For the first time in his political career, he failed to carry his party to even a working majority -- and again, for the first time in his career, he finds himself in a situation where he cannot rule by dictatorial fiat, points out Prem Panicker.
Congress leader Adhir Ranjan Chowdhury on Tuesday sought to give credit to his party for the women's reservation bill but Home Minister Amit Shah refuted his claim, saying that the legislation brought by the Manmohan Singh government had lapsed following the dissolution of the 15th Lok Sabha.
DMRC-like SPV to be floated in a month for the Rs 98,000 crore Mumbai-Ahmedabad corridor.
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.
Radha Timblo, a Goa-based miner whose name figures in the black money list submitted by the Centre in the Supreme Court, on Tuesday denied having any "undisclosed" bank account in the country or abroad.
Shareholders have given approval to the appointment of Ambani scions Akash, Isha and Anant on board of Reliance Industries, the company said in a stock exchange filing.
"Wall Street and similar jobs were something that became unattractive to me very early," says 22-year-old Harvard grad Dhaval Chadha.
Negotiations near deadlock, as states oppose Constitution Amendment Bill.
Anil Agarwal-led Vedanta's Sterlite Copper on Monday came out with an advertisement inviting expression of interest (EoI) for carrying out plant "restart activities" at its Thoothukudi unit in Tamil Nadu, that got closed more than five years ago following an order issued by the Tamil Nadu Pollution Control Board (TNPCB). The EoI for restart comes when the company is still awaiting the final judgement on the issue, and the court has only allowed it to do maintenance work. "We have initiated the upkeep and maintenance activities at the plant as allowed by the Supreme Court vide its order dated May 4, 2023, in coordination with the district authorities.
