feb 18
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Killa, a Marathi film on 17 February 2014 won the Crystal Bear (Glasernen Bar) for the best film award by the Children’s jury in Generation Kplus section at the 64th Berlin International Film Festival. The film has been directed by Avinash Arun. Interim Union Budget 2014-15 Tax Proposal Interim Budget 2014-15 was presented in the Lok Sabha by Union Finance Minister, P Chidambaram on 17 February 2014. This was the 83rd budget of the Union Government and 9th personal budget by Chidambaram as Finance Minister. In the union budget 2014-15, the Finance Minister left untouched the direct taxes. Following changes in some indirect tax rates are proposed • States to partner in development so as to enable the Centre to focus on Defence, Railways, National Highways and Tele- communication. • The Excise Duty on all goods falling under Chapter 84 & 85 of the Schedule to the Central Excise Tariff Act is reduced from 12 percent to 10 percent for the period up to 30 June 2014. The rates can be reviewed at the time of regular Budget. • To give relief to the Automobile Industry, which is registering unprecended negative growth, the excise duty is reduced for the period up to 30 June 2014 as follows: Category Percent Small Cars, Motorcycle, Scooters and Commercial Vehicles from 12 to 8 percent SUVs from 30 to 24 percent Large and Mid-segment Cars From 27/24 to 24/20 percent • It is also proposed to make appropriate reductions in the excise duties on chassis and trailors. The rates can be reviewed at the time of regular Budget • To encourage domestic production of mobile handsets, the excise duties for all categories of mobile handsets is
Transcript of feb 18
Killa, a Marathi film on 17 February 2014 won the Crystal Bear (Glasernen Bar) for the best film award by the Children’s jury in Generation Kplus section at the 64th Berlin International Film Festival. The film has been directed by Avinash Arun.
Interim Union Budget 2014-15 Tax ProposalInterim Budget 2014-15 was presented in the Lok Sabha by Union Finance Minister, P Chidambaram on 17 February 2014. This was the 83rd budget of the Union Government and 9th personal budget by Chidambaram as Finance Minister. In the union budget 2014-15, the Finance Minister left untouched the direct taxes.
Following changes in some indirect tax rates are proposed
• States to partner in development so as to enable the Centre to focus on Defence, Railways, National Highways and Tele-communication.• The Excise Duty on all goods falling under Chapter 84 & 85 of the Schedule to the Central Excise Tariff Act is reduced from 12 percent to 10 percent for the period up to 30 June 2014. The rates can be reviewed at the time of regular Budget.• To give relief to the Automobile Industry, which is registering unprecended negative growth, the excise duty is reduced for the period up to 30 June 2014 as follows:
Category PercentSmall Cars, Motorcycle, Scooters and Commercial Vehicles
from 12 to 8 percent
SUVs from 30 to 24 percentLarge and Mid-segment Cars From 27/24 to 24/20 percent
• It is also proposed to make appropriate reductions in the excise duties on chassis and trailors. The rates can be reviewed at the time of regular Budget• To encourage domestic production of mobile handsets, the excise duties for all categories of mobile handsets is restructured. The rates will be 6 percent with CENVAT credit or 1 percent without CENVAT credit.• To encourage domestic production of soaps and oleo chemicals, the custom duty structure on non-edible grade industrial oils and its fractions, fatty acids and fatty alcohols is rationalized at 7.5 percent.• To encourage domestic production of specified road construction machinery, the exemption from Counter Vailing Duty (CVD) on similar imported machinery is withdrawn.• A concessional custom duty 5 percent on capital goods imported by the Bank Note Paper Mill India Private Limited is provided to encourage domestic production of security paper for printing currency notes.• The loading and un-loading, packing, storage and warehousing of rice are exempted from Service Tax.• The services provided by cord blood banks are exempted from Service Tax.
President of India on 17 February 2014 imposed President’s Rule in Delhi after accepting the resignation of Arvind Kejriwal, the Chief Minister of Delhi. This information was published in a press release by Lt Governor Najeeb Jung’s office.
World Bridge Championship for Bermuda Bowl (men) and Venice Cup (women) will be hosted by India for the first time in October 2015.
Pranab Mukherjee, the President of India on 15 February 2014 presented the International Gandhi Award for the year 2013 to Dr. Vijaykumar Vinayak Dongre (VV Dongre) and Prof. Guocheng Zhang at Rashtrapati Bhawan, New Delhi. They were awarded for making outstanding contributions in the field of leprosy to eradicate the disease through treatment, training and research.
Purushottam Express will become the first train in India to be attached with a Braille-embedded AC coach for visually-challenged passengers by the end of February 2014. Purushottam Express is a superfast train running between Delhi and Puri.
China announced a plan to build the longest underwater tunnel of the World on 14 February 2014. Water tunnel will be constructed beneath the Bohai Sea.
