VAT rate cut on medicines, footwear to 4 per cent
New Delhi: The chipping away of the proposed value-added tax regime begins. The empowered committee of state finance ministers which met here on Wednesday decided to reduce the VAT rate of 12.5 per cent to 4 per cent for medicines and footwear.
Back to News Review index page  

SEA seeks withdrawal of excise on branded edible oils, vanaspati
New Delhi: A delegation of the Solvent Extractors Association of India met chairman of the Central Board of Excise and Customs MK Zutshi here on Wednesday and urged him to consider withdrawing the newly imposed 8 per cent excise duty on branded edible oils and vanaspati.
Back to News Review index page  

EU proposals on movement of natural persons soon
New Delhi: The European Union is likely to submit its proposals on liberalisation of movement of natural persons to the Council for trade in services at the World Trade Organisation at the Council’s meeting next month.
Back to News Review index page  

Mahyco Monsanto claims farmers earned extra on Bt cotton farming
New Delhi: With the Centre asking state governments to submit reports on the success or otherwise of the maiden experiment with Bt cottonseed (genetically modified cottonseed) permitted last year, Mahyco Monsanto Biotech (India) Ltd has claimed that farmers have earned an extra income of about Rs 7,000 per acre with Bt cotton.
Back to News Review index page  

Cabinet defers decision on hiking FDI limit
New Delhi: The Cabinet on Wednesday deferred taking a decision on increasing the FDI limits in several sectors. Official sources said, 'the issue did not come up for discussion'.
Back to News Review index page