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Archive: 10 December 2009

Posts in 10 December 2009

Assocham demanded uniform VAT structure of 8 percent for Petrol & Diesel

December 10, 2009 645 Views 0 comment Print

The government should bring petrol and diesel under a uniform VAT structure of 8 per cent as the variation in state tax was putting additional burden of taxation, industry body Assocham today said. States sales tax on petrol varies from 33 per cent in Andhra Pradesh to 18.9 per cent in Manipur and on diesel from 34 per cent in Mumbai to 8.3 per cent in Tripura, the chamber said adding that entry tax/octroi is also levied on movements of crude in many states.

RBI directed RRBs to disclose commission received from mutual funds and insurers

December 10, 2009 600 Views 0 comment Print

“Keeping in view the need for transparency in the interest of the customers… it has since been decided that Regional Rural Banks (RRBs) should disclose to the customers, details of all the commissions or other fees received, if any, from various mutual fund or insurance companies for marketing or referring their products,” RBI said in a notification.

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