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Inter-state transactions may come under tax ambit
With less than five months left for the proposed roll-out of the Goods and Services Tax (GST), the empowered group of state finance ministers today suggested a model of inter-state goods and services tax (IGST) for inter-state transactions. The Centre would levy GST which would comprise central and state GST, with appropriate provision for consignment or stock transfer of goods and services.

Double taxation of computer software yet to be redressed
Budget 2009 contained important proposals in regard to exempting packaged software from customs duty, on importation, and on excise duty, with regard to domestic supplies, to the extent that such software is purportedly chargeable to the service tax. The proposals attempted to redress the problem of potential double taxation that arises in regard to such software. Earlier articles in this column had highlighted the problem of double taxation in relation to several transactions including the service taxation of packaged software post the changes announced in the Budget 2009.

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Designer plans
How Wills Lifestyle hopes to stand out in the crowded readymade apparel market.
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BHEL bags Rs 5,040 cr order from Jindal Power

State-run power equipment maker BHEL today said it has bagged a Rs 5,040-crore contract from Jindal Power for setting up a 2,400-Mw thermal power plant in Chhattisgarh. - NTPC-BHEL's Rs 6,000-cr plant to come up in Andhra - NTPC-BHEL"s Rs 6,000 cr plant to come up in Andhra - PSUs must improve their global competitiveness - BHEL Q2 net jumps 39% as raw material costs dip - BHEL profit rises 39% at Rs 858 cr - MP plans power equipment hub on DMIC "BHEL has secured contract from Jindal Power for setting up a 2,400 Mw thermal power plant (4x600 Mw) in Chhattisgarh," a company statement said. As per the contract, BHEL will install four units of 600 Mw each in this extension stage of Rs 5,040 crore OP Jindal Super Thermal Power Plant (STPP), Raigarh, it said. BHEL’s scope of work in the contract envisages design, engineering, manufacture, supply, erection, testing and commissioning of boilers, steam turbines, turbo-generators and associated auxiliaries along with controls and instrumentation system. The company, at present, manufactures equipment that can generate 10,000 Mw of electricity annually. BHEL plans to augment this capacity to 15,000 Mw by December 2009, and further raise it to 20,000 Mw by 2012.


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