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Wednesday, May 11, 2011

Petrol prices may go up; diesel, LPG rates may follow
The government may hike diesel and domestic LPG rates next week while an increase in petrol prices may happen later this week.
"The Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee (on fuel price hike) was to meet. It has been put off," Oil Minister S Jaipal Reddy told reporters in New Delhi.

EGoM was to meet on Wednesday to consider raising the diesel price by Rs 3-4 a litre and domestic LPG rates by Rs 20-25 per cylinder. "It has been postponed to accommodate some ministers...

It could be anytime on (May) 17 or 18," he said.

State-owned oil firms, however, are likely to get the go-ahead to raise the price of petrol, which they have not revised since January on informal 'advice' from the government in view of Assembly elections in five states

‘No service tax on food to rooms from hotel restaurants’
Food served in hotel rooms from their air conditioned restaurants with liquor licences will not attract service tax, the revenue department said on Tuesday.

"When the food is served in the room, service tax cannot be charged under the restaurant service as the service is not provided in the premises of the air-conditioned restaurant with a licence to serve liquor," a Central Board of Excise and Customs (CBEC) circular said.

While clarifying the provisions of service tax to be levied on services provided by air conditioned restaurants with licence to serve liquor, the CBEC said the Value Added Tax (VAT) excluded from the taxable value.

Similarly, luxury tax would be excluded in case of short term accommodation service.

Mouthshut.com launches Dealface.com
Mouthshut.com has entered the daily deal segment with the launch of dealface.com. This allows you to get the best deals on the best of brands available. This site aims at complete consumer satisfaction and is designed to ensure great deals for people from all segments.

As in the West, Indian consumers too have begun to window shop on websites for best deals on brands. Dealface.com offers daily deals in which people can score reduced prices and discounts on luxury and lifestyle products. Real genuine, discounted deals are available on spas, dance classes, health checkups, car service, restaurants, spiritual healing and even teeth cleanings to start with.
— Business Desk with inputs from PTI.

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