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Journalism of Courage
Pact with US on taxation
NEW DELHI : India and the US will begin talks next week for a pact on exchange of information on duty evasion, when Indian officials visit the US, top revenue officials said.
The tax authorities will hold preliminary discussions with US tax administration for sharing information on customs duty evasion under the Nairobi convention, Chairman of Central Board for Excise and Customs S D Mohile said. He said India has already entered into such bilateral treaties with Hongkong, Egypt, Russia and Israel.
Report on textile policy delayed
NEW DELHI: The report of the expert committee going into the formulation of the new textile policy has been delayed and is now expected to be submitted before the month-end, Textiles Secretary Shyamal Ghosh has said.
The committee headed by former textiles secretary S R Sathyam was given six months time to submit its report by March 31 but in view of the complexities in the textile sector the committee was given extension tillJune-end.Ghosh said the delay in submission of the report was because the committee was in the process of giving finishing touches to some of the chapters in its report.
Alumina prices to fall
NEW DELHI: The recent strengthening in international alumina prices could soften this month due to National Aluminium Company Ltd NALCO entering the export market with 25,000 tonnes of alumina. quot;Nalco tender of 25,000 tonnes of alumina in June could potentially dampen the alumina market, which has seen a steady strengthening and stabilisation of prices in recent weeks,quot; Metal Bulletin said.
