|
|
Business & Economy
Post-VAT, prices likely
to fall countrywide
What is India News Service,
Monday, 21 March 2005, 1700 hrs IST
The prices of almost all goods are likely to fall by one per cent across the country after the introduction of Value Added Tax (VAT) from April 1.
"There is no likelihood of prices going up in post VAT scenario. On the contrary, the prices are likely to fall by one per cent after April 1," empowered committee of state Finance Ministers member secretary Ramesh Chandra told PTI here.
"The rumours spreading on price hike in the post VAT system is a misconception. VAT would rationalise tax burden and bring down general price level when all the components of the system design are taken together," Chandra said.
"At present, there is an unhealthy competition between states with regard to tax rate and trade diversion. VAT is expected to stop this trend," he said.
Delay
in report on computerisation \97 EPFO meet postponed: The meeting of the
Central Board of Trustees of the Employees' Provident Fund Organisation (EPFO)
scheduled for today was cancelled. Officials said that the board could again be
expected to meet in April.
Pre-VAT
jitters: Drug cos work out plans to allay trade fears: With less than a
fortnight to go for the implementation of value-added tax (VAT), drug companies
are devising different methods to smoothen the transition into the new regime
from April 1.
ONGC
turns retailer: ONGC
became the seventh company in the country to enter in the Rs 2,50,000-crore
retail business of petroleum products with the launch of OVal outlet at Manglore,
adjoining the Mangalore Refinery.
Amul
tech heads for Pak: Amul,
the most successful cooperative movement in India, is moving across borders to
Pakistan and Sri Lanka.
Nationwide
bank strike on Tuesday: Banking operations are likely to be hit on Tuesday
as unions have called a nationwide strike to protest mergers of PSU banks and
the proposed hike in FDI limit to 74 per cent in the sector.
Cricket
telecast: HC orders fresh bids: Holding that cancellation of cricket
telecast rights granted to Zee Telefilms was "improper", the Madras
High Court on Monday ordered that fresh bids be called for after the ongoing
tour of the Pakistan team was over.
Prasar
Bharati to slap carriage fees on pvt channels:
The Prasar Bharati Corporation has decided to levy carriage
charges on private TV channels on board its direct-to-home (DTH) platform on
completion of a year of DTH transmission in December 2005.
NGO
business is big business: Sheer numbers and money mobilisation
suggest that the NGO business is big business. They could be 15 lakh in number
and the money at their command could be around Rs 30,000 crore. Added to this
humongous statistic is the clout the NGOs have come to wield in the age of
"governance with people's participation".
Textile exporters may lose out on EU preferential rates: Some players are
confident that even if they miss out on concessional tariffs, Indian exports
would still make up in the due course.
Proposal
to exempt sugar mills from 7.5 pc customs duty: A PROPOSAL has been mooted
to exempt mills from payment of 7.5 per cent customs duty on raw sugar imports
under the advance licence (AL) scheme.
Business papers
Business Standard
Economic Times
Business Line
Financial Express
|
![]()
|
