The Federation of Indian Chambers of Commerce and Industry ( FICCI )), today said it will pursue the issue of implementation of the proposed Goods and Services Tax (GST) with various state governments. “We will pursue with state governments the (issue of) implementation of GST,” FICCI’s Chairman (Western Region Council), Sushil Jiwarajka said in an interactive Budget session held here.
The CBI today searched the residence of suspended Prasar Bharti CEO Mr BS Lalli after registering a case against him and others for alleged irregularities in the award of broadcasting rights of Commonwealth Games that reportedly resulted in a loss of Rs 135 crore to the exchequer. The case was filed against Mr Lalli, director of Zoom Communications Mr Wasim Dehlvi and others under relevant provisions of the Prevention of Corruption Act and Indian Penal Code late last night, official sources said.
The Supreme Court on Thursday came down heavily on the Centre for failing to crack the whip on black money hoarders and ordered forthwith reinstatement of three key ED officials allegedly transferred midway into the probe in a case of foreign exchange law violation by Pune businessman Hasan Ali Khan.
Expressing surprise at the Budget proposal to impose Minimum Alternate Tax on SEZ developers, Commerce and Industry Minister Anand Sharma on Friday said he has voiced his concerns to Finance Minister Pranab Mukherjee as the move would impact these projects. Mukherjee has proposed to levy Minimum Alternate Tax of 18.5 per cent on the book profits of Special Economic Zone developers and units. The changes in the tax rate would be effective April, 2012.
Goldman Sachs Group Inc Chief Executive Lloyd Blankfein has agreed to testify for the US government at the upcoming trial of Galleon hedge fund founder Raj Rajaratnam, according to a media report.
Telecom Minister Kapil Sibal is likely to meet industry players on Tuesday in order to reach a consensus on issues, including licencing, spectrum allocation, spectrum sharing and mergers and acquisition.
Less-than-expected pay as well as lack of growth opportunities at work place are driving many employees in India to look out for new jobs, says a survey. According to global technology and consultancy giant Accenture, about 37 per cent of employees surveyed by it are looking for job opportunities outside the company.
The Central Vigilance Commission (CVC) disposed of 668 cases during January 2011 referred to it for advice. Of these, 518 complaints were sent for necessary action/ATR whereas 27 complaints were sent for investigation and report. No action was required on 81 complaints.
The government today said it will get a new study conducted on black money stashed by Indians within and outside the country by July next year. The government has decided to get a fresh study conducted on unaccounted income and wealth, both inside and outside the country, unravelling the nature of activities engendering money laundering and its ramifications on national security, Minister of State for Finance S S Palanimanickam said in a written reply to Lok Sabha.
The government today said that Reserve Bank of India (RBI) has conducted a special inquiry into Rs 460-crore Citibank fraud case and was in the process of completing its final report. ” RBI has conducted a special scrutiny of the related accounts at Citibank, Gurgaon (branch) and other connected accounts at other banks. The final report is being completed”, Minister of state for Finance Namo Narain Meena told the Lok Sabha in a written reply.
