Briefly Business

The Planning Commission on Wednesday said that the proposed Goods and Services Tax is likely to miss the deadline of April 1.

GST may not meet deadline: Plan panel

NEW DELHI: The Planning Commission on Wednesday said that the proposed Goods and Services Tax GST is likely to miss the deadline of April 1. Well,we were hoping that it GST will come from April 1,but it does not appear that it will be so, Planning Commission member B K Chaturvedi said. He,however,said the proposed indirect tax regime,aimed at doing away with most of the indirect taxes at the Central and state-levels,is likely to be implemented from the next financial year.

Heavy industry PSUs to have energy audits

NEW DELHI: The government on Wednesday said all state-owned companies under the Department of Heavy Industry should go in for energy audits to help cut costs and reduce pollution. We want that the remaining PSUs under the department should also do it energy audit and in a time bound manner. This would help the companies cut down on their costs and in earning carbon credits, Ambuj Sharma,joint secretary in the department,said at a function here.

4 port projects worth Rs 4,120 cr cleared

NEW DELHI: A high-level panel,headed by finance secretary Ashok Chawla,has cleared four port expansion projects entailing an estimated investment of Rs 4,120.29 crore in three states. The Public Private Partnership Appraisal Committee PPPAC has granted approval for development of mega container terminal at the Chennai Port at an estimated cost of Rs 3,125 crore.

PVR buy of DT Cinema deferred till Feb 15

MUMBAI: Theatre chain PVR Ltd on Wednesday said the completion of its acquisition of DT Cinemas,a subsidiary of DLF,has been deferred till February 15,2010,due to pending compliance issues. In a letter to the Bombay Stock Exchange,PVR said the two parties have mutually agreed to extend the deadline for completing the deal until February 15,2010.

AP hikes VAT on jet fuel fourfold to 16 pc

HYDERABAD: The Andhra Pradesh government has raised tax on jet fuel to 16 per cent from 4 per cent earlier,a move that will have an impact on airlines operations. The hike will come into effect from February 1,Principal secretary revenue Asutosh Mishra said. The hike in tax on ATF comes as part of the state governments drive to enhance various taxes to shore up its dwindling revenues.