Octroi

"Octroi is being levied in Mumbai for a long time and it should be abolished immediately once GST comes into force. We also want most of the transactions of Municipal Corporation of Greater Mumbai (MCGM) to take place electronically to bring more transparency in its services and functioning," BJP said in a release following a meeting of its city unit.

Real estate industry awaits clarity on several aspects of GST

While the tax structure for the goods and services tax (GST) has been announced, the real estate industry is waiting to see which rate is applied to it and the construction industry. Given the R

Mahanagar Gas cuts CNG, PNG prices by up to Rs 1.60

Accordingly, revised prices of CNG and domestic PNG will be Rs 39.97/kg and Rs 23.92 per standard cubic meter (SCM) respectively in the megapolis.

GST rate should not be more than 18%: ICSI

"If RNR is 19 percent or more, then we may have inflation in near term. We feel that the ideal RNR rate for GST should be 18 percent and at this rate, we will not face inflation," ICSI President Mamta Binani said here today.

X Reasons to Drive an M: The All-New BMW X5 M and All-New BMW X6 M Launched in India

High performance models from the BMW M range – the all-new BMW X5 M and the all-new BMW X6 M were launched in India today.  

Leave Your Mark: The All-New BMW X6 Launched in India

The all-new BMW X6, the only Sports Activity Coupe (SAC) in the world was launched in India ...

GST Bill: Govt manages to get consensus on most clauses

In a meeting today, government reviewed the Goods and Services Tax Amendment Bill (GST) clause by clause. Government is looking to reach a compromise with all parties for its implementation on the earlier set date of 31 March 2016.

'1% tax by states over and above GST to hurt Make in India'

The government plans to roll out GST from April 2016.

GST bill to be taken up by Lok Sabha on Monday

A Constitution amendment bill has to be passed by two- thirds majority of members present in the House and voting.

LBT, octroi can be levied on Sodexo meal vouchers: BombayHC

Observing that Sodexo meal vouchers are utility goods, which are capable of being sold, delivered and possessed, the Bombay High Court has held that octroi and Local Body Tax (LBT) can be levied on them.

Steps being taken to ensure power for all: Coal, Power min

The oil and power ministry are seeking financial aid for stranded gas-based power plants.

Traders agree to call off LBT stir after meeting with CM

Traders in Pune, Pimpri Chinchwad, Navi Mumbai and Thane have announced that they are calling off the stir, following discussions with the Chief Minister.

Why Has Mumbai Downed Shutters Against LBT?

Aurangabad has implemented it, Kolhapur has implemented it, so have Solapur, Ulhasnagar, Vasai, Virar and a dozen other municipalities in Maharashtra. But when Local Body Tax came to Mumbai – it got a rather rude reception!

Traders were consulted; LBT protests premature: Maha govt

The Maharashtra government slammed the LBT protestors and said that the traders were consulted, reports CNBC-TV18‘s Ashmit Kumar.

Raghuram Rajan pitches for raising FDI in insurance to 49%

Parliament proceeds may be in a limbo but Finance Ministry's advisor Raghuram Rajan today pitched for passing of a bill to allow 49 percent FDI in insurance sector.

FIEO for refund of state levies, creation of exporter fund

Apex exporters body FIEO asked government to announce measures in the Budget like refund of certain state levies, creation of an export development fund and credit availability at affordable rates to boost country's shipments.

Petrol, diesel to become cheaper in Punjab

In a relief to consumers, the Punjab government today gave its nod for abolishing octroi on fuel, making petrol and diesel cheaper in the state. The petrol and diesel will be cheaper by 0.73 paise and 0.82 paise a litre respectively within the municipal limits of towns and cities across the state.

PM asks states to consider waiving mandi taxes

Prime Minister Manmohan Singh today asked states to consider waiving mandi, octroi and local taxes for taming inflation which affects poor "harder" and poses serious threat to the country's growth momentum.