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Options limited for Madhya Pradesh
Will Madhya Pradesh be isolated on goods and service tax (GST) issue? If highly placed government sources, working the new tax system, are to be believed, the state government will have to follow the trend. “Eventually the state will have to implement the system, we cannot linger on. Other states like Chhattisgarh have also agreed to implement it, Gujarat government has welcomed it, Haryana has accepted it ‘in principle’ except for few points. How Madhya Pradesh can stand out?” asked an official. But the state finance minister has a long list to point out flaws in the new tax system, the main being, “The GST will bring even dal-chawal (rice and pulses) under tax net, which are exempted from VAT.”

MP govt may raise upper slab of VAT
Stung by the Centre’s indication to compensate half of what was promised as full compensation against phasing out of Central Sales Tax (CST), the Madhya Pradesh government may increase the upper slab of value added tax to 15 per cent from the existing 12.5 per cent before goods and service tax (GST) comes into effect.

News of the day

India Inc commits Rs 4,500-crore investment in Maldives
Indian corporate houses have lined up investments worth $1 billion (around Rs 4,500 crore) in the Maldives, to fructify over the next two to three years. The houses include Tatas, Suzlon, GMR, Apollo Hospitals and Oberoi. “To attract more investment from India, the Maldivian government is planning to ease the procedures for India Inc and planning to offer various incentives,” said Ahmed Shaheed, the country’s foreign minister.
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REpower to supply 70 wind turbines to US enXco

German firm REpower, in which Suzlon Energy holds 91 per cent stake, has signed an agreement with US-based enXco to supply 70 turbines for a wind farm project by 2011. - Dadri setback drags Reliance Power - Markets at a glance - ADAG eyes alternative locations for power plant if Dadri fails - Setback for Reliance Power"s Dadri plant - Dadri land acquisition not on hold: R-Power - Suzlon: Some breeze, finally "The 70 REpower turbines are intended for a wind farm project in the West Coast (USA) market for delivery in mid-2011," Suzlon Energy said in a statement. "USA forms one of the most important growth markets for wind energy today, this order is another step forward in strenghtening the REpower presence and competitiveness in the country," Tusi Tanti, CMD, Suzlon Energy, and Chairman, Supervisory Board of REpower, said. REpower and enXco have implementated a series of wind farm projects in California, Washington and Indiana. Suzlon Energy acquired 91 per cent stake in REpower in May this year.


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