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Dual rated dual GST
The long-awaited meeting of the Empowered Committee of State Finance Ministers (EC) was recently held in Delhi and, as was perhaps expected, the EC has come out with a recommendation on what can legitimately be called a “Dual Rated Dual GST System”. There were expectations in certain quarters that the dual GST would be a single rated one at the Federal and the State level for both goods and services. This has not been possible and the EC has now come out with a dual rate model for goods. There has been no mention of whether there will be a dual rate for services as well but the understanding and expectation is that services will be taxed at just the one rate, at the Federal and State levels respectively. This article discusses the dual rate dual GST model for goods in some detail.

Bajaj Auto expects rise in sales on better demand
Bajaj Auto today said it expects an increase in the company"s sales volume on account of better demand during the festive season.

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SAIL may cut steel prices soon
State-run steel maker SAIL today said it may cut prices of some of its products in near future.
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TN launches Power Transmission Corporation

The DMK Government today launched Tamil Nadu Transmission Corporation Limited, setting into motion the trifurcation of the state electricity board in line with the Centre"s directive, even as it said that the three corporations would not be privatised "at any cost." - UPA govt likely to face a stormy winter session - One-line battles - Newsmaker: Andimuthu Raja">Newsmaker: Andimuthu Raja - Governance and the fisc - Importance of Raja for DMK can lead to more tension in UPA - PMK quits AIADMK-led alliance in Tamil Nadu Launching the Corporation here, Chief Minister M Karunanidhi said the step, in accordance with the Electricity Act-2003, would help in effective management and distribution of the growing power demand in the state. This would promote an investor-friendly image of the state, he added. After coming to power in 2006, the DMK government had decided to add 5900 MW to the existing installed capacity of 10,214 MW and launched various projects in association with National Thermal Power Corporation and others, he said. "I am confident that the creation of the new corporations will ensure effective monitoring of these projects and distribution of power generated," he said, adding the ongoing projects would be completed by 2012. The state would produce 15,152 MW by then. Officers and employees of Tamil Nadu Electricity Board (TNEB) would have the option to join in one of the three corporation -- TNEB Ltd, Tamil Nadu Transmission Corporation and Tamil Nadu Generation and Distribution Corporation, the chief minister said, adding the corporations "will not be privatised at any cost."


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