-The Business Standard CM has withdran 5% VAT relief on subsidized, non-subsidized cooking gas After the centre’s decision to hike fuel prices through decontrol mechanism, it is virtually double jeopardy for the people in Uttarakhand with the state government withdrawing Value Added Tax (VAT) relief on the Liquefied Petroleum Gas (LPG) cylinders. In the latest decision, chief minister Vijay Bahuguna, who is heading Congress-led coalition government in the hill state, withdrew 5% VAT...

-The Hindu Authorities have not come clear on the subsidy money and the time required for processing Hyderabad: The ongoing process of linking Aadhaar card and bank account with LPG gas connections is throwing up questions that defy answers. While the authorities point out that the subsidy money will be credited to the customer’s bank accounts directly, the question as to how much money will be returned and the time required for...

-IPS News Officials at the World Bank are forcefully rejecting a new internal evaluation that is highly critical of the institution’s decade-long forest policy, expressing their “strong disagreement” with some assertions in the report. The assessment, written by the Independent Evaluation Group (IEG), the World Bank Group’s auditor, warns that expectations for poverty reduction as envisioned in the bank’s 2002 Forest Strategy “have not yet been met”. The report is particularly critical...

-Live Mint Income-tax department says firm had underpriced intragroup share transfer by Rs 15,000 cr and evaded taxes consequently The Indian arm of Royal Dutch Shell Plc , Shell India Pvt. Ltd, has been accused by the income-tax (I-T) authorities of underpricing an intragroup share transfer by ` 15,000 crore and consequently evading taxes, said a person familiar with the development.   Following the notice, which is one of the biggest transfer pricing orders...

-Outlook The government has not made any assessment on presumptive losses following the CAG report on the 2G spectrum issue, Parliament was informed today. "No assessment of the value of presumptive loss caused to the nation after the publication of CAG report in 2G spectrum matter has been made by the Government of India," Minister of State for Finance Namo Narain Meena said in a written reply in the Rajya Sabha. To a...