What has come as a bigger blow for small traders in the commodity market is the 'invasion' of big retailers into the commodity market. This is hurting them more than the Centre's new regulation curbing stock holding and the effects of VAT. In fact, entry of big retailers has created a new dimension in the commodity market, particularly in the last two years. The small traders hold them responsible for the current scenario in the market, including steep rise in prices.
State-owned Mahangar Telephone Nigam's (MTNL) ambitious drive to become a major player in the internet protocol TV (IPTV) services sector is facing a roadblock. IPTV is a technology that uses telephone lines to provide TV programming to viewers.
Another point of contention is the invoice issued by the e-companies.
Large states like Andhra, Chhattisgarh, Gujarat, Himachal, MP, Odisha, Punjab and Tamil Nadu would need compensation from the Centre
Despite the enormous commodity potential in developing countries, agricultural finance has been decreasing steadily over the past 20 years and new modes of financing are needed, says UN.
Targeting 55 million farmers under the fold of IFFCO, telecom major Bharti Airtel on Friday announced a joint venture with it, in which the fertiliser cooperative holds majority stake.
With Ganesh Chaturthi, Maharashtra's biggest festival, set to begin in mid-September, many companies are providing value-added services to cash in on the occasion and for brand promotion.
In the late 1990s, the Gujarat government had issued a policy allowing deferment of sales tax/VAT up to a certain amount, with the benefit capped for a period not exceeding 17 years. Projects with investment over Rs 1,000 crore could be eligible for the tax benefit. A deferment benefit on sale tax means a dealer is allowed to postpone the payment of tax on purchase of raw materials sales of products for a fixed period or/and up to a specific monetary limit.
Bangalore-based OnMobile, a telecom value-added services provider, has acquired France-based Voxmobili, a software solutions provider, for an undisclosed amount.
'The only way to minimise logical inconsistencies and confusion is to develop the two rates of 12% and 18% as the ones that apply to almost all items.' 'At a later stage, these two rates could be merged into a single rate,' advises T N Ninan.
This is, say tax experts, the first time that a car race circuit has been held to be the permanent establishment of an assessee.
The benefits are common in many cases, but are also different in some other respects.
'You have to hand it to Mukesh for sheer daring.' 'Who else in India would have sunk a stupendous $30 billion in a business that was yet to get a single customer?' 'With that, the older of the Ambani siblings has shown that he is in a class of his own,' says T N Ninan.
A global value-added services (VAS) player, Buongiorno, has researched on the habits of browsers who surf the Internet on their cell phones. In India, analysts estimate that 20-25 per cent of mobile handsets can be used for Internet surfing. Embracers, for instance, are hooked on to the technology on mobile phones and battery power is their only limitation when it comes to being online. On the other hand, Pragmatists use mobile phones as tools to make their life easier.
In a decision that will affect the lawyers specialising in sales tax laws as well as former sales tax officers' who work as sales tax practitioners, Bombay High Court has held only Chartered Accountants (CAs) can audit and certify accounts for traders. Hitherto, traders had to hire only sales tax lawyers or former sales tax officers as advisors in tax matters. It allows lawyers & other sales tax practitioners to represent traders before tax authorities but not audit accounts.
The case relates to alleged wrong classification of mixed xylene
In the last policy review in December, RBI had decided to keep policy rate unchanged.
Most say they will review their Make in India plans as prices may top pre-GST level
Mr Modi must now work to win over the governor as a friend and learn to influence people credibly.
While India is one of the largest food producers of the world with the organised sector accounting for food output worth $34827 million, only a small percentage of its farm produce is processed into value-added products.
The Monopolies and Restrictive Trade Practices Commission has issued notices to mobile operators Bharti Airtel, Idea Cellular and Hutchison on a complaint over downloading of ring tones.
Higher rural incomes, pay commission benefits, and lower interest rates are key positives: Analysts
Prime Minister Narendra Modi had asked exporters to prepare a strategy for the next five years and start working in that direction.
RBI lowers GDP forecast for FY16 to 7.4%
This is slated to improve telephony service penetration in the country due to increased affordability and could be a precursor for similar moves for other value added services.
Over 1,800 types of commodities, including copper, lead, zinc and cloth, are added to the category. Importers will have to deposit half of their payable levies (including import duty and VAT) at the customs when they import raw materials.
The OnePlus 7 Pro may not be a budget flagship phone, but it definitely offers the best 'value for money'.
Over 65 per cent of respondents of a survey conducted by arabianbusiness.com said they could leave the UAE if the tax burden is added to the skyrocketing cost of living. The UAE could face a mass exodus of expatriates who were considering leaving the UAE as an option. ''Tax is on the way, and that's not part of the bargain I made when I came here,'' remarked the respondents.
One of India's leading industry bodies - the Associated Chambers of Commerce and Industry - on Friday urged the government to bring sugar, textiles and tobacco products under value added tax.
Mobile value added services provider, Webaroo on Tuesday announced the launch of a group messaging service through SMS on mobile phones, which helps the users in social networking.
There are about 60 second-hand car dealers in Lucknow and small cars such as the Maruti 800, Indica, and Santro are favourites with buyers. The small-car segment accounts for about 75 per cent of second-hand car sales. Second-hand car dealers collect 2 per cent commission from both buyers and sellers for each deal.
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.
While LPG price was raised by Rs 18, kerosene saw a hike of Rs 3 per litre
Even if the GST rate is 18-20 per cent, there would be no average impact on inflation.
Manufacturing taxes, VAT will come down, assures Jaitley
But not before the concept clears regulatory roadblocks.
'China has reclaimed, after two years, its mantle as the world's fastest-growing large economy.' 'This, when its working age population is shrinking, while ours is growing.' 'And talking of jobs, China expects to create 11 million urban jobs this year; for India, don't ask,' says T N Ninan.
While the economy has been averaging an annual growth rate of around 8.7 per cent for the last five years, the unorganised manufacturing sector is slowing down.
The Mumbai-based firm is on a cost optimisation drive through outsourcing of network management services and call centre operations.
Indicating the growing interest of youngsters in cellphones, India's youth market for cellphones has been growing at 300 per cent in the recent years, says a study. The youth market for mobiles has touched 27.6 million this year compared to 8.3 million people in 2005, says the global study conducted by leading mobile phone maker Nokia.
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