In order to plug tax evasion worth crores of rupees and also to stop the bogus VAT refunds, the Department of Excise and Taxation has issued new instructions to the iron and steel industry. According to the new notification, which was implemented on Wednesday, input tax credit on iron and steel goods will be available […]
Energy firms may have to wait a little longer to avail a seven-year tax holiday on natural gas production. The Income-Tax department is unwilling to allow tax benefit on production of natural gas as the matter is sub judice. Companies producing crude oil, however, enjoy the tax incentive. The issue is sub judice and it […]
A Central Board of Excise & Customs (CBEC) circular that clears the air on utilisation of central value-added tax (Cenvat) credit is expected to lead to saving of crores of rupees by Indian companies. This clarification could not have come at a better time, as most companies are reeling under the pressure of recession.
The list of Indian promoters, who have mortgaged their equity holding to raise funds, is growing by the day. Nearly 10 companies on Tuesday provided the stock exchanges with details of shares pledged by their promoters.
Larsen & Toubro (L&T) on Wednesday said the company was against an e-auction process to determine a suitable buyer for Satyam Computer Services. Satyam is not a commodity so that buyers can opt for an e-auction platform to buy it. It is a public listed company and we would not prefer an e-auction of the […]
In an ironic twist to the ongoing Satyam saga, a clutch of front firms promoted by the founder of Satyam Computer Services, B Ramalinga Raju, and his family, have demanded repayment of Rs 1,230 crore that they lent to the software firm.
In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy 2004-09, the Director General of Foreign Trade hereby makes the following amendments in Handbook of Procedures, Vol. I RE2008.
In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy 2004-2009, the Director General of Foreign Trade hereby makes the amendments in Appendix-5 (List of Inspection and Certification Agencies) of the Handbook of Procedures.
In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with Para 1.3 of the Foreign Trade Policy, 2004-2009 (as amended from time to time), the Central Government hereby makes the following amendment in Foreign Trade Policy (RE2008).
Indian chartered accountants may soon get to practice Down Under. This could be one of the positive fallouts of the mutual recognition agreement (MRA) that accounting bodies of India and Australia are set to initial here on Tuesday.
