Vrishti Beniwal
 "Vrishti Beniwal")
Vrishti Beniwal
Page 37 - Vrishti Beniwal
FM may clear CST compensation if states support GST
CST is a tax on inter-state movement of goods imposed by the Centre but collected by states
New tax accounting standards to reduce litigation soon
The Tax Accounting Standards will be applicable only to computation of taxable income under the Income Tax Act
Reforms in life insurance next on govt agenda
Finance Minister P Chidambaram is likely to meet the insurance regulator on September 26
Rolling back excise on diesel to deal Rs 6,000-cr blow
Under pressure from TMC, FinMin evaluating options for possible reduction in excise duty without affecting overall revenues
Reforms may top agenda as Cabinet meets tomorrow
Today's launch of RGES followed by release of Kelkar report will set the tone for the meeting
Reforms may top agenda as Cabinet meets on Tuesday
RGES, Kelkar report expected shortly
FM asks states to share fuel subsidy burden with Centre
Chidambaram claims Centre pays huge subsidy bills even as its share of taxes collected on petro products is lower than that of states
Govt nod for all external borrowings
FinMin says that interest paid on such borrowings would be taxed at a lower rate of 5% against the existing 20%
Govt outlines Rajiv Gandhi Equity Scheme, allows MFs
The scheme is exclusively for first time retail investors with annual income of below Rs 10 lakh
CBDT scrutinising firms enjoying tax exemptions
Smells tax evasion, shifting of profits, to scrutinise books of those availing big or many exemptions
FM may clear sales tax compensation if states support GST
Centre would provide compensation to states only after assurance that they would cooperate in rolling out GST
Booster dose for insurance sector next on govt agenda
FinMin talking to Irda on many issues, meeting Chidambaram this week
FM asks states to share fuel subsidy
In 2011-12, the Centre had collected Rs 95,349 cr by way of taxes on various petroleum products
Rolling back excise on diesel to deal Rs 6,000-cr blow
The finance ministry is considering whether it can lower the excise duty
Max Life Insurance to settle claims in 10 days
Company would pay interest at the rate of 6% per annum if it fails to keep its commitment of paying claims within 10 days of the receipt of documents from the nominee.
Road projects worth Rs 12,000 cr cleared
The approval was granted by the Empowered Committee headed by Economic Affairs Secretary Arvind Mayaram
Tax tribunal upholds return-on-cost based compensation for procurement firm
Tax tribunal turns Income Tax dept¿s plea challenging a cost-plus based transfer pricing model for compensating the company
IFCI gives pink slips to employees
The company, which has faced mass exodus in the last one year, issued notices to 14 of its officers terminating their employment on September 12