A minimum levy of 12 per cent GST on tea will increase the cost, which will ultimately be passed on to consumers.
Last year, the software giant launched a cloud adoption programme for SMBs.
Theatres are finding innovative new ways to increase footfalls, discovers Vanita Kohli-Khandekar.
President A P J Abdul Kalam on Wednesday mooted eight schemes to generate 56 million direct jobs in the next five years.
The government on Wednesday said it would phase out Central Sales Tax by April 2007, a move that may lead Bharatiya Janata Party-ruled states to reconsider their decision of not implementing value-added tax.
Delhi and Maharashtra may lower value added tax on bullion to 0.25 per cent as consensus on introducing uniform floor rate for precious metals seemed difficult to emerge at the empowered committee's meeting on Wednesday
Coinciding with the 3-day traders stir against the implementation of value added tax, the Mid-term Appraisal of the 10th plan has pointed to "serious design flaws" in the tax even as Planning Commission Deputy Chairman Montek Singh
The Value Added Tax system has no adverse impact on consumer prices, and revenue earnings under the new regime have shot up by 15.3 per cent during the first quarter of the current fiscal, Finance Minister P Chidambaram told the Rajya Sabha on Tuesda
Surging global crude oil prices failed to shore up customs revenue substantially as India Inc resorted to advance licence scheme, which allows duty-free imports for value-added exports.
'I expect fourth quarter GDP growth to be sharply down.' 'I would imagine it would shave off at least one percentage point, if not more, as compared to the third quarter.'
The empowered committee of state finance ministers on Monday said the Value-added Tax will be implemented from April 1, 2005, even if Uttar Pradesh does not fall in line.
Sunil Mittal-led Bharti Airtel has become the world's third largest mobile operator with 303 million subscribers.
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.
At a meeting with airline chief executive officers and top officials here, the Civil Aviation Ministry also decided to amend Aircraft Act and Rules to safeguard the interests of aircraft leasing companies, many of which have started imposing stringent conditions for leasing planes to Indian carriers in the aftermath of Kingfisher Airlines shutting down.
Implementation of value-added tax will bring down retail prices and may add Rs 75,000 crore (Rs 750 billion) per annum to government revenue, according to industry body Assocham.
The state has extended its full support, provided its revenues are protected.
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.