Taxing
Times The phase-out of central sales tax is yet
another move towards ushering in the national goods and services
tax (GST). The compensation to the states, in lieu of CST phase-out,
will include revenue proceeds from 33 services currently being
taxed by the Centre as well as 44 new services of an intra-state
nature that will be traded by the states. However, VAT is the
way forward, though much needs to be done to iron out the anomalies
in the current VAT regime.
India,
Ahoy! Indian investments overseas are growing and
how. For instance, total Indian investment in Latin America and
the Caribbean has topped $3 billion (Rs 13,500 crore) so far. The
latest investment is by ONGC Videsh, which acquired an oilfield
in Colombia for $425 million (Rs 1,912.5 crore). Earlier, ONGC bought
an offshore oilfield in Brazil for $410 million (Rs 1,845 crore). More
Net Specials
BT
SPECIAL
Andhra's Infrastructure
What makes GMR, GVK, Lanco and Nagarjuna the hottest players
in the infrastructure business?
Balaji Chandramouli and E. Kumar Sharma
GVK Industries' Reddy: He began as a
small-time contractor
When
tariff bids for the 4,000-mw Sasan ultra-mega power projects were
opened late last month, it turned out to be quite a nai
