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A step closer to GST

Bhubaneswar, Jan. 28: The Centre and states have resolved the contentious issue of CST compensation with the states agreeing for a lower payment of Rs 34,000 crore for phasing out the central sales tax (CST), a precondition for rollout of the goods and services tax (GST). “The amount of compensation for three years — 2010-11, 2011-12 and 2012-13 — was about Rs 34,000 crore. The Centre has agreed to pay this compensation amount to states,” deputy chief minister and finance minister of Bihar Sushil Kumar Modi said.

Toyota No. 1

Tokyo, Jan. 28: Toyota Motor Corp regained the crown as the world’s top selling auto maker in 2012, posting a record-high sales and beating rivals General Motors and Volkswagen. Toyota said it sold 9.75 million vehicles groupwide around the world last year, a record for the car maker.

Dreamliner

New Delhi, Jan. 28: Air India has put all its Boeing 787-8 Dreamliner planes for sale and leaseback and invited bids from prospective lessors by February first week, even as all of these aircraft remained grounded across the world.

ONGC approval

New Delhi, Jan. 28: ONGC Videsh Ltd, which trumped a strong bid by China National Petroleum Corp for a stake in Kazakhstan’s giant Kashagan oilfield, has cleared the first hurdle when it secured approval of all the partners in the project for the acquisition.

BoI net

Mumbai, Jan. 28: The Bank of India (BoI) today reported a 12.15 per cent rise in net profit at Rs 803.48 crore in the third quarter on growth in core income supported by other income and a decline in tax outgo.

Sugar sale

New Delhi, Jan. 28: The government today decided not to take away unsold sugar in the open market from millers for ration shop distribution.

FDI plans

New Delhi, Jan. 28: The Centre has approved four foreign direct investment proposals, including that of IT giant Wipro, totalling Rs 280 crore.


 
 
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