Pradeep Kumar Sinha committee formed by GST Council to select members of National Anti-profiteering Authority (NAPA) under GST

The Goods and Service Tax (GST) Council has formed a selection committee under the chairmanship of cabinet secretary Pradeep Kumar Sinha to identify and recommend eligible persons for appointment as the chairman and members of the National Anti-profiteering Authority under ..

India, UK sign three advance pricing pacts

India’s Central Board of Direct Taxes (CBDT) and the UK have signed three Bilateral Advance Pricing Agreements (B- APAs) taking the total number of APAs concluded between India and the UK to 5. So, far India has signed a total ..

Govt to shrink sensitive list to make SAFTA work, improve Pak ties

To improve relations with Pakistan, India is likely to cut the peak tariff rate to 5 % within three years. The Union Cabinet might allow a diminution in the sensitive list by 30% for Non-Least Developed Countries (NLDCs), under the ..

Month: Current Affairs - August, 2012

Prime Minister constitutes committee to review taxation of development centres & IT sector

To review taxation of development centres and IT sector a committee has been established by the Prime Minister Dr Manmohan Singh. The Committee will function in consultations with stakeholders and related government departments to finalize the Safe Harbour provisions announced ..

Month: Current Affairs - July, 2012

Tamil Nadu draws FDI faster, states study

As per a latest study, Tamil Nadu has left behind states like Gujarat and Andhra Pradesh in attracting Foreign Direct Investment (FDI). The state has attracted investments of around Rs 6,711 crore in 2011-12, which is 66 % higher than ..

Month: Current Affairs - July, 2012

New Service Tax regime comes into force

A new service tax regime has come into force. All services, except 38 services in the negative list, will now attract 12% service tax. The government has also broadened the definition of ‘Services’ to bring in more activities under the ..

Month: Current Affairs - July, 2012