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Archive: 15 October 2011

Posts in 15 October 2011

PM to hold meet over high inflation today

October 15, 2011 255 Views 0 comment Print

Prime Minister Manmohan Singh has called a meeting on Saturday to discuss policy options with regard to slowing economic growth and high inflation. The meeting (with PM) is on the current economic situation. We will have a discussion on growth and inflation, and consider the policy options in this regard, Prime Minister’s Economic Advisory Council (PMEAC) chairman C Rangarajan said.

Govt. Announces Sops / Incentives for the Textiles Industry

October 15, 2011 61670 Views 0 comment Print

Focus Product Scheme – The list of items under FPS has been expanded to include 130 additional items. These items are mainly in the sectors of Chemical/ Pharmaceuticals, Textiles, handicrafts, Engineering and electronics sector. Textile items like polyester textured yarn, fully drawn yarn of polyester, viscose rayon type yarn, polyester chips, woven cotton fabrics denim 85% cotton over 200G/M2, unbleached or bleached cotton fabrics, dyed cotton fabrics knitted or crocheted have been included under the scheme.

Difference between Tax Invoice and Retail Invoice

October 15, 2011 94016 Views 24 comments Print

Q.1. How many types of invoices would be required to be issued under VAT? A.1. There are two types of invoices that can be issued: Tax invoice Retail invoice Q.2. What is a tax invoice and who will issue it? A.2. Under VAT, tax invoice is a very important document. A registered dealer selling goods […]

Sale of immovable property only through registered deeds, Power of attorney sales not valid – SC

October 15, 2011 60237 Views 0 comment Print

The Supreme Court today ruled in the case of Suraj Lamp & Industries Pvt Ltd Vs State Of Haryana that sale transactions carried in the name of general power of attorney will have no legal sanctity and immovable property can be sold or transferred only through registered deeds. “Transactions of the nature of `GPA sales or `SA/GPA/WILL transfers’ do not convey title and do not amount to transfer nor can they be recognised or valid mode of transfer of immovable property.

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