LIVE MARKET TRACKER :   BSE SENSEX        |    NSE NIFTY    
GLOBAL MARKETS :  NASDAQ      |    FSI London      |    NIKKEI Japan  
  USD GBP EUR CAD AUD INR
USD -
GBP -
EUR -
CAD -
AUD -
INR -
Indian-Commodity  :  Top News  :  Parliamentary Panel suggests sharing of service tax with railways

Parliamentary Panel suggests sharing of service tax with railways (07-Sep-2016)

A Parliamentary Panel headed by TMC MP and former Railway Minister Dinesh Trivedi, has suggested sharing with Railways the service tax paid on passenger fares on specified classes and freight which is collected by Finance Ministry and pursuing the matter vigorously with the authorities concerned.

The panel in its report said that though several requests have been made to the Finance Ministry for exemption from payment of service tax on freight and fare, these were not agreed by the Ministry. It noted that service tax on specified classes of passenger and freight was to the tune of Rs 1478.10 crore and Rs 3449.34 crore during the financial years (FY) 2012-13 and 2013-14, respectively.

The committee's report submitted to the Lok Sabha Speaker noted that the concessions given by the Railways on various categories should also be taken up with the ministries concerned and strongly favoured that the concessions given by the public transporter should be reimbursed to the Railways.

The panel has asked the railways to focus on completion of long-pending works to fulfill the objective of providing rail service to various parts of the country, noting that as on April 2016, the railways has 495 ongoing/pending projects involving new lines, gauge conversion, doubling and electrification worth Rs 3,61,772 crore. The report underscored the fact that these projects are important to meet the major challenges being faced by the railways relating to lack of capacity as it results in increasing load on railway infrastructure, compromising safety and lowering speed. Further, on the proposed joint venture with state governments, the committee has urged the railways to have a relook at the share of funds to be contributed by the backward, underdeveloped, hilly and far-flung states expeditiously.

 


Top News Today
Future Enterprises gets nod to raise funds up to Rs 1,500 crore
(26-May-2018)

Future Enterprises gets nod to raise funds up to Rs 1,500 croreFuture Enterprises has received its board's approval to raise funds by issue of Secured Redeemable Non-Convertible Debentures (NCDs) for a value up to Rs 1,500 crore in one or more tranches within a period......click on news to read complete article.

IFCI recovers Rs 280 crore from Bhushan Steel
(26-May-2018)

IFCI recovers Rs 280 crore from Bhushan SteelIFCI has recovered Rs 280 crore from debt-ridden Bhushan Steel under the insolvency process. The company also received over 5.79 lakh equity shares of Bhushan Steel, having face value of Rs 2 per share.IFCI......click on news to read complete article.

Sun Pharma reports 7% rise in Q4 consolidated net profit
(26-May-2018)

Sun Pharma reports 7% rise in Q4 consolidated net profitSun Pharmaceutical Industries has reported results for the fourth quarter and year ended March 31, 2018.The company has reported a rise of 83.30% in its net profit at Rs 176.26 crore for the quarter ended......click on news to read complete article.

International Stock News
US markets end mostly in red on Friday
(26-May-2018)

US markets end mostly in red on FridayThe US markets ended the choppy day of trade mostly in red terrain as some traders were away from their desks, looking to get a head start on the long Memorial Day weekend. Geopolitical uncertainty also......click on news to read complete article.

US markets end mostly in red on Friday
(26-May-2018)

US markets end mostly in red on FridayThe US markets ended the choppy day of trade mostly in red terrain as some traders were away from their desks, looking to get a head start on the long Memorial Day weekend. Geopolitical uncertainty also......click on news to read complete article.

US markets end lower on Thursday
(25-May-2018)

US markets end lower on ThursdayThe US markets ended in red terrain on Thursday, as geopolitical worries hovered over markets after Trump called off the summit that was set to take place June 12 in Singapore. The cancellation followed......click on news to read complete article.

 

     
  
Recent Top News News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.