Dual Structure Proposed for Goods and Services Tax
Nov. 11 – A dual goods and service tax (GST) structure has been proposed by the state that would allow for two rates for goods and one rate for services. The new GST regime is slated for implement on April 1, 2010 with the goal of streamlining taxation for the manufacturing and services industry. The […]
Indirect Tax Revenues Drop 24 Percent
Nov. 5 – India’s domestic indirect tax collection has fallen 24 percent in the past six months as the effects of the global recession continue to impact the country Finance Minister Pranab Mukherjee said. The Ministry of Tax is now relying on economic growth in the second-half and the proposed goods and services tax (GST) […]
Business in India under the New Tax Regime
By Vikas Srivastava Nov. 2 – The new tax rules and regulations which are under construction once approved by the Indian government will transform the way you do business in India. The Indian government envisages three major changes under Indian taxing system. First, introduction of goods and services tax (GST) which will engulf all kind […]
Levi’s Introduce Monthly Payment Scheme For Jeans
Aug. 24 – The Levi Strauss jean company is introducing an interest-free monthly payment scheme in India to assist the local market gain access to its products. In moves echoing the microfinance scheme being implemented by Nokia customers will be able to purchase a pair of Levi’s priced at Rs1,599 (US$33) and pay for them […]
Government Forecasts US$15 Billion Income from New Tax
Jun. 30 – India’s new tax system is projected to earn the government US$15 billion annually through the Goods and Service Tax as well as provide more employment, spread the tax burden and increase exports when it is implemented in April, 2010. The new tax system, which will replace all major central and state taxes, […]
New Indian Goods and Services Tax Regime in Place by 2010
May 26 – The Indian government is studying tax reforms that will sweep away part of the current VAT system, a variety of state level direct and indirect taxes, excise duties, service tax and luxury tax and replace them with a single Goods and Services Tax (GST). The GST will require legislative and constitutional changes […]
Short Eats: May 25
May 25 – Short Eats – a roundup of small tasty bites of Indian news straight from the nation’s dailies. Banana Fiber a New Textile Commodity Weavers near Chennai have developed a new product made from Banana fiber, in association with the National Research Centre for Banana. The new textile is said to be suitable […]
Test Drive a Tata Nano Free Online
Apr. 20 – Tata Motors, the manufacturers of the worlds cheapest car the Nano, has teamed up with the Indian online gaming portal Zapak to provide a free online game in which a user can customize their virtual Nano, then drive it around Bombay amidst the city’s hustle and bustle. The tiny vehicle, which costs […]