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Options limited for Madhya Pradesh

Will Madhya Pradesh be isolated on goods and service tax (GST) issue? If highly placed government sources, working the new tax system, are to be believed, the state government will have to follow the trend. “Eventually the state will have to implement the system, we cannot linger on. Other states like Chhattisgarh have also agreed to implement it, Gujarat government has welcomed it, Haryana has accepted it ‘in principle’ except for few points. How Madhya Pradesh can stand out?” asked an official. But the state finance minister has a long list to point out flaws in the new tax system, the main being, “The GST will bring even dal-chawal (rice and pulses) under tax net, which are exempted from VAT.”

Cut off date on entry loads

I had invested in Magnum Tax Gain and Fidelity Tax Advantage via Systematic Investment Plans (SIPs). Despite the recent regulation by Sebi abolishing the entry loads, my investments in August were made subject to an entry load. Is the new regulation not applicable for existing investors as well?

Sangam of Tamil and English

Rrishi Raote / New Delhi July 25, 2009, 0:52 IST