VAT on all types of components, accessories spares and parts including packing materials used by the textile industry will be notified as industrial inputs taxable at 4%.In order to encourage the manufacture of readymade garments in the State the VAT ..
The Central Board of Direct Taxes (CBDT) have vide notification S.O.No.493(E) dated 13.3.2008 notified the categories of taxpayers who are mandatorily required to electronically pay taxes on or after the 1st day of April, 2008. A company and such oth ..
Giving relief to companies engaged in leasing and financing business, the Income Tax Appellate Tribunal has ruled that they are not required to pay interest tax, applicable to other credit institutions. "Since substantial earnings is made from such ( ..
The woes of special economic zones (SEZ) just don’t seem to end. Fresh trouble has now broken out with the revenue department seeking clarity on provision in the SEZ Act that makes these zones deemed to be outside Customs territory. The matter has be ..
The government is planning to scrap Press Note 1, allowing foreign companies to invest in sectors where they already have a joint venture without obtaining a no-objection certificate (NOC) from their current partner. The NOC condition is applicable f ..
A New York federal judge ruled Monday in a lawsuit brought by Tiffany that the online auction site, eBay, is not required to police its site for counterfeited goods."The law does not impose liability for contributory trademark infringement on eBay fo ..
India's Reliance Communications Ltd. (RCom) said it is unable to conclude its proposed $66 billion merger with South Africa's mobile operator MTN Group Ltd., 'owing to certain legal and regulatory issues'.RCom said the two parties have mutually decid ..
The U.S. Department of Justice has accused $1.6 billion (sales) Ranbaxy Laboratories, India's largest pharmaceutical firm, of selling adulterated drugs. In a motion filed July 3 in federal court in Maryland, the Justice Department alleged that Ranbax ..
The Chhattisgarh High Court has issued notices to 25 professors of the Government Science College, Raipur for conducting journalism course and issuing bogus mark sheets without permission or affiliation from the Ravishankar University, Raipur.Mr Just ..
Doctors, lawyers and other professionals, both salaried and self-employed, may now have to pay a higher professional tax. Acceding a long-pending demand of the state governments, the Centre has decided to raise the ceiling on professional tax from Rs ..
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