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The move is expected to delay the introduction of low-priced medicines in the market.
Service companies such as Infosys, Tata Consultancy Services and Airtel, among others, would be particularly hit.
In a stern warning to service tax evaders, the government asked them to either pay their dues by tomorrow or face penal action which could include arrest and prosecution.
The import tariff value is the base price at which the customs duty is determined to prevent under-invoicing.
Indirect tax collections increased by 8.82 per cent to Rs 75,655 crore during the first seven months of this fiscal from Rs 69,521 crore in April-October 2002.
The government on Monday slashed import tariff value on gold and silver to $408 per 10 grams and $617 per kg respectively, in view of weakness in bullion prices globally.
it will share the platform will Polo.
In Singapore, gold prices have risen by 0.46 per cent to $ 1,294.20 from $ 1,288 per ounce in last one fortnight.
States' demand of compensation from Centre for loss of tax revenue not on agenda.
Ironically, West Bengal, which has been seeking a postponement of the GST roll-out, has fared better among most other states.
Nirmala Sitharaman has designed the revenue mix in such a way that while Centre's share in taxes would grow a massive 25 per cent, states' share would grow a dismal 6 per cent.
There has been a quantum jump in the number of complaints of corruption received by the Central Vigilance Commission last year as against those in 2011.
Instead of taking the moral high ground and resorting to a ban, the government should've turned the screws on dance bars by enforcing the licence conditions, says Anil Singh.
Sources said while the Janata Dal-Secular will have nine new ministers, the Congress will have nearly 12 of its legislators inducted into the cabinet. Lone Bahujan Samaj Party MLA N Mahesh will also be a part of the cabinet expansion and will be given a key portfolio.
Lt Governor Najeeb Jung, who is now administering Delhi after President's rule was imposed, on Tuesday made it clear that none of the decisions and initiatives taken by the Aam Aadmi Party government will be scrapped, including the 50 per cent subsidy on power tariff.
Earlier, The Nitish Kumar government had banned sale and consumption of country and spiced liquor in rural areas from April 1 this year, but had allowed sale of foreign liquor in towns and cities.
Hasmukh Adhia to present revenue dept's performance over past year & plan for current financial year
The import tariff value -- base price at which customs duty is determined to prevent under-invoicing -- is revised on a fortnightly basis.
SGI Commex chairman G S Srivastava, an art connoisseur, said the aircraft, an Airbus A319-133 with registration of CJ VT-VJM, will be converted into an art pilgrimage venture
The Yogi Adityanath government on Wednesday transferred 20 senior IAS officers, shunting out Principal Secretary-Information Navneet Sehgal and others who wielded considerable influence under the Akhilesh Yadav dispensation.
The scheme calls for banks, refineries and hallmarking centres to work together.
The opposition parties vehemently criticised the new 'one nation, one tax' system having four different rates instead of a single rate adopted in some countries including the UK and Singapore.
No mention of cab aggregators in GST bills
In the second half of April, the discount on gold came down to $3 an ounce.
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Firms are mandated to change prices of medicines within 45 days of NPPA's notification.
The government on Wednesday hiked the import tariff value on gold and silver to $431 per 10 grams and $646 per kg, respectively, taking firm global cues.
This shows the strict pattern of civil services examination conducted by the UPSC for selecting country's top bureaucrats
The government on Monday reduced import tariff value on gold to $388 per 10 grams and on silver to $540 per kg, following global price trends.
Apart from Modi, Jaggi Vasudev to address 2-day tax officers' conference
The Special Investigation Team (SIT) on black money has decided to create a rich national database where multiple agencies probing tax and financial crimes will pool in vital classified information to be shared for seamless investigation.
Bihar Director General of Police P K Thakur on Monday said that the ongoing investigation into the killing of a senior journalist in Siwan district had suggested that a 'supari' (contract) had been given to kill him.
The Election Commission gets cracking on caste, money and muscle power well ahead of the 2017 Uttar Pradesh elections.
Senior Indian Administrative Services officer Ashok Singhvi, who is the Principal Secretary (Mines) in Rajasthan, was arrested in the wee hours of Thursday by the state Anti Corruption Bureau in the eighth arrest in a bribery case involving clearance for reopening of six closed mines of a miner.
The number of smartphones booked during the initial hours was 30,000.
The government on Friday reduced the import tariff value on gold and silver to $420 per 10 grams and $645 per kg, respectively, taking cues from firm global prices.
The government on Thursday slashed the import tariff value on gold for the second straight day to $ 414 per 10 grams and silver to $672 per kg, in line with weak global prices of the precious metals.
FY16 GDP growth was seen at 7.5%, against 8.1-8.5% earlier.
The growth in imports was led by product categories such as diagnostic items, ultra-sonogram machines, MRI and ECG apparatus, syringes with needles, suture needles, digital thermometers, malaria diagnostic kits, and hearing aids.
States' demand for 5 years and Constitutional provision ruled out
This is the Centre's highest-ever budgeted capital outlay.
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