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Input credits under service tax law
In a recent landmark judgement in Coca Cola India Pvt. Ltd. vs. Commissioner of Central Excise (2009-VIL-06-HC-BOM-ST), the Mumbai High Court has interpreted the relevant provisions of service tax law in a broad and inclusive manner in order to hold that expenses incurred by a company in relation to advertising and promoting a brand owned by it would be eligible for input tax credits as such services will qualify as ‘input services’. The decision has extended the present understanding of the service tax provisions to a significant extent and beneficially at that.

Amara Raja to invest Rs 95 cr
Industrial and automotive battery manufacturer Amara Raja Batteries is planning to invest Rs 95 crore in 2009-10 to enhance its manufacturing capacity among others.

News of the day

IDBI Bank moves ahead on bank buy
IDBI Bank had completed due diligence on a private bank for a possible acquisition, Chairman and Managing Director Yogesh Agarwal said today. “Talks are on. Due diligence has been done. I cannot commit on the time-frame,” he said on the sidelines of Bancon 2009-10.
Business Ideas

Ford launches special edition of Fiesta

US car maker Ford today launched a special edition of its mid-sized sedan Fiesta in the country, priced at Rs 6.44 lakh (ex-showroom, New Delhi). - More cities under affordable housing project: Tata - Ford India October sales jump 98.28% - Ford"s union workers said to reject givebacks US rivals got - Ford to close Canada plant in 2011, shed 1,400 jobs: union - Geely preferred bidder for Volvo unit - Tata Motors: With Manza to steer">Tata Motors: With Manza to steer The new Ford Fiesta 1.6 ZXI will be available only in the petrol variant, the company said in a statement. "The Ford Fiesta continues to be one of our bestselling products and registered impressive sales during the festive season. We are building on the success and offering customers with a special edition of the 1.6 ZXI Duratec variant," Ford India Executive Director (Marketing, Sales and Service) Nigel Wark said. The special edition of the car has been fitted with electronic brake-force distribution, stylised features and leather interiors.


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