chief minister

Himachal Pradesh Chief Minister Prem Kumar Dhumal today launched new web portal of Excise and Taxation department for e-payment of VAT at his Office Chamber here today by accepting payment of Rs. 99,999 from Sanjay Guleria, Director, Symbiotic Drugs Full Article

The Chief Minister (Finance Minister) presented the State Budget for the Year 2010-11 on Tuesday 09th March 2010 in the State assembly for the second time in his second tenure. There was not much for the trade and industry in the budget except some changes in the rate structure and the much awaited simplification of the quarterly return. Full Article

Cricket is now officially an entertainment sport. Forty-five years after it declared horse racing as entertainment, the state government has decided to add cricket to the list. Besides cricket, pubs, discotheques, internet protocol television (IPTV) and permit rooms with a live orchestra (dance bars earlier) will also attract a similar tax. There are 22 discotheques in Maharashtra, of which 20 are in Mumbai city, Mumbai suburbs and Thane. Only two are in Pune. Full Article

The commercial taxes department has conducted 298 raids from April to November this year. These statistics were placed before the House by chief minister Digambar Kamat, who holds the finance portfolio, during Question Hour on Thursday. The additional tax collected from these raids are: Value Added Tax (VAT) from hotels -Rs 27.16 lakh; VAT from others-Rs 141.33 lakh; luxury tax from hotels-Rs 51.31 lakh, and entertainment tax from casinos - Rs 2.83 crore. Full Article

The Enforcement Directorate on Thursday conducted searches on the premises of realtor Emmar MGF in connection with the multi-crore illegal Hawala and investment case involving former Jharkhand Chief Minister Madhu Koda.The search followed the ED finding certain documents that showed Koda's associates on the board of certain Emaar group companies, ED sources said. Full Article

The Reserve Bank of India has asked all banks and financial institutions to furnish a suspicious transaction report to the Financial Intelligence Unit-India within seven days of such a transaction, said a notification from the central bank on Thursday. "The report must be furnished within seven days of arriving at a conclusion that a transaction, including attempted transaction, whether or not made in cash, or a series of transaction integrally connected are of suspiciou.. Full Article

Taking a serious note of Union Bank of India (UBI) not reporting high-value transactions to it, the government has asked the state-owned bank to immediately carry out an audit of all its branches to check for such large deposits that have gone unreported.The Income Tax department, during a probe into alleged money laundering by former Jharkhand chief minister Madhu Koda, had stumbled on a bank account at one of UBI's branches in Zaveri Bazar in Mumbai where approximately.. Full Article

There’s some good news for the industry of North-East as the union commerce ministry has agreed to have a relook into its March 2008 notification which had considerably restricted excise duty exemption of industrial units in the region. It is learnt that union commerce minister Kamal Nath had recently “assured” the Assam chief minister, Tarun Gogoi, to look into the issue. Full Article