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Business Briefs

Indirect tax mopup jumps 9%

New Delhi, Nov. 12: Revenue earned through indirect taxes in the first seven months (April-October) of this fiscal rose 8.82 per cent but fell 4 per cent short of the budgetary estimate, the government said. The collection is Rs 3,142 crore or 3.99 per cent short of the budgeted estimate of Rs 78,798 crore till October. Both excise and customs collection inched up by 8.8 per cent during the period. Excise mop up surged by 8.82 per cent to Rs 47,679 crore during the period from Rs 43,814 crore last year. Customs collections surged by 8.83 per cent to Rs 27,977 crore during the period from Rs 25,707 crore year-on-year.

Fuel for urea

New Delhi, Nov. 12: The group of ministers on fertilisers today arrived at a compensation formula for conversion of naphtha-based units to gas-based ones for urea production.

COAI miffed

New Delhi, Nov. 12: The Cellular Operators’ Association of India (COAI) today said guidelines on unification of licences stipulating that existing operators will have the option of migrating to a new regime or continuing under the old regime was “meaningless” as it gave no choice to cellular players.

MS launch

New Delhi, Nov. 12: Microsoft Corporation India today announced the availability of Microsoft Office Project 2003 in India.

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