The Telegraph
Since 1st March, 1999
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Business Briefs

States want aid for VAT

New Delhi, Oct. 4: States will demand 100 per cent compensation for the revenue loss suffered by them while implementing the value-added tax (VAT) from April 2003, empowered committee chairman Asim Dasgupta said today. The West Bengal finance minister said 24 states have finalised their VAT legislations and the remaining four states have in principle agreed to finalise it shortly.

Income tax

New Delhi, Oct. 4: The government has slashed the depreciation rate for income tax deduction on a number of items, including books and computer software, from 100 per cent to 60 per cent and on pollution control equipment to 80 per cent.

Godrej plan

New Delhi, Oct. 4: Godrej Foods, the foods division of the Rs 538 crore Godrej Industries, plans to launch two blended edible oil products in the year ahead. The company forayed into the Rs 250-crore soyabean oil market today.

IDBI Flexibonds

Mumbai, Oct. 4: IDBI will soon launch the 2003-A series of IDBI Flexibonds. The size of the issue is Rs 300 crore with an option to retain oversubscription upto Rs 300 crore. The issue will remain open from October 10 to November 2.

Tata SSL

Mumbai, Oct. 4: The shares of Tata SSL Ltd will be delisted from BSEís officially quoted securities from October 8 pursuant to the acquirer, Tisco, complying with Sebiís takeover regulations of 1997.

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