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The Central Board of Excise and Customs (CBEC) has said in a circular that property developers need not pay any services tax until the actual sale of the property is realised. This means that despite entering into contract with buyer, developer will not pay any tax on the construction of property which could be considered … Read more Home Buyers – Builders saved from services tax until Sale
The Reserve Bank of India (RBI) has hiked the prudential inter-bank exposure limit for the urban cooperative banks (UCBs) to 20%, from the current cap of 10%, of their total deposit liabilities. Earlier, prudential inter-bank exposure limit, which is the total amount of deposits placed by an UCB with other banks including includes instruments such … Read more RBI hikes inter-bank exposure limits of UCBs
Idea Cellular has informed FreePress, about relationship between B K Modi’s Spice group and Spice Communications Ltd. Idea Cellular would like to clarify that Idea had acquired B K Modi Group’s stake in Spice Communications Limited in Jul’ 08. Hence, Spice Communications Ltd has no relation with B K Modi led Spice group and is … Read more Idea Cellular clarification on Spice Stock Rise + B K Modi’s Satyam Bid
In a move to bring down costs substantially, Tata Tea is currently in the process of restructuring its operations in the US. The group offers various brands like Tetley, Goodearth and 8’o Clock Coffee in the US market. Tata Tea follows different marketing strategies in the various markets of the US, Britain, Canada and India. … Read more Tata Tea adopts strategy restructuring in the US market
Tiles manufacturing major – Orient Ceramics and Industries – is scouting for an overseas partner to form a joint venture for setting up a new tiles manufacturing plant in Andhra Pradesh with an estimated cost of Rs 250 crore. It is currently in talks with foreign players based in Italy and Spain for the joint venture … Read more Orient Ceramics scouting for overseas partners to form JV
High Lights of the call are: Core business (Textile) profitability has improved in the current quarter period. Focus on cost improvement initiatives has also yielded significant gains during the quarter. Net sales witnessed a growth of 3% largely due to improvement in realizations by 11% reflecting the brand strength of the company. The company has … Read more Raymond – To open more stores in Tier 4 and Tier 5 cities