Committed to continuity in telecom sector: Misra
New Delhi: The new chairman of the Telecom Regulatory Authority of India Nripendra Misra said he was committed to continuing with the policies of his predecessor Pradeep Baijal and that there were no differences between the regulator and the Department of Telecom (DoT).

On whether the biggest challenge for him would be the handling the government or telecom operators, he said "I would want to complete three year tenure with the same kind of certificate that my predecessor got from the media."
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VAT panel deliberates on CST cut
New Delhi: An official committee on Value-Added Tax (VAT) held a meeting on Wednesday to deliberate on the issues of reduction of central sales tax (CST) from next fiscal, compensation to states for losses due to CST cut and reduction in tax on cooking gas to 4 per cent.

CST, imposed on inter-state trade of goods, is likely to be phased out from next fiscal. It was likely to be reduced to two per cent from the current four per cent, but some states are asking for its reduction by only one per cent next fiscal. The central sales tax is collected by the centre, which then distributes it to states. Because of two per cent reduction in CST, states would lose around Rs9,000 crore.

The states are demanding that they be allowed to impose tax on some services to seek compensation for this loss. The issue of distribution of taxation on services between the centre and states was also discussed at the meeting, sources said.
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Sugar falls some more
New Delhi: Sugar prices softened on the wholesale sugar market on increased supplies from millers amid slackness in demand.

Marketmen said the fall in sugar prices was mostly due to millers selling against sluggish demand from bulk consumers. At the wholesale market, sugar ready medium and second grade prices declined from Rs1950-1990 and Rs1940-1975 to close at Rs1940-1975 and Rs1930-1965 a quintal respectively.

Mill delivery medium and second grade prices also eased from Rs1790-1875 and Rs1780-1860 to settle at Rs1775-1860 and Rs1765-1850 a quintal respectively.

Among mill gate section, sugar chandpur, titabi and simbhawali receded from Rs1800, Rs1860 and Rs1850 to conclude at Rs1790, Rs1855 and Rs1845 a quintal respectively.

Khatauli, Bijnor and Amroha slipped to finish at Rs1840, Rs1805 and Rs1795 a quintal respectively.
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AMOS signs agreement with ISRO
Bangalore: Belgian firm AMOS (Advanced Mechanical and Optical Systems) SA has signed an agreement with the Ahmedabad-based Space Application Centre for the supply of collimator, an optical instrument that can be used in satellite cameras. The Belgian company will be responsible for the design, manufacture, test and supply of one metre diameter collimator, as per the specifications required by the Indian Space Research Organisation.

The agreement was signed in the presence of Jean-Claude Marcourt, minister of economy, employment and foreign trade of Wallonia region of Belgium and Ram Rattan, deputy director, sensor department area, SAC, Ahmedabad.
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Service tax to increase by one per cent every year: NCAER
New Delhi: Economic think-tank NCAER has said that service tax will go up by one per cent per annum in the next four years, following the government's decision to introduce goods and services tax (GST) from April 1, 2010.

NCAER said service tax will finally align with the highest CENVAT rate of 16 per cent and one can expect an average service tax rate increase of one per cent per annum in in its monthly report.

The contribution of service tax to the exchequer would be consistent with its contribution to GDP once the scope of service tax is increased on all services and aligned with the highest CENVAT rate, it added.
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TDSAT declines relief to COAI
New Delhi: Telecom tribunal TDSAT has declined to grant a stay to regulator TRAI's order asking private mobile operators to stop levying higher tariffs for calls made to BSNL and MTNL networks in some telecom circles. However, TDSAT admitted COAI's plea to make MTNL a party to the dispute on the ground that the telecom PSU would be a major beneficiary once the new order was implemented.

On March 20, the tribunal had issued a notice to state — owned BSNL asking it to be a third party in the dispute. COAI is opposing TRAI's directive asking private operators not to charge differential tariffs for calls terminating in BSNL' network in four States — Maharashtra, Tamil Nadu, West Bengal and UP.
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