Budget to be presented on 16th March    FM issues Advisory to CESTAT to ensure that orders are issued by Benches on conclusion of arguments and in complicated matters orders should be issued within 30 days    Madras High Court stays levy of service tax on lawyers    economic growth slows to 6.9 per cent   Sunil Kumar appointed as Chief Secretary of Chattisgarh    Amarchand Mangaldas to open offices in Chennai Ahmedabad & Pune    US closes its embassy in Syria    Sudha Sharma appointed as Member of CBDT    Rupee hits a high of 48.73 against Dollar   Laxman Das is Officiating Chairman of CBDT    Tariff Value for import of gold is 556 & for silver 1067 & for Brass Scrap 4078 & for poppy seeds 2205-Customs Non-Tariff Notification No. 10   Fused Silica is classifiable under Tariff Item 32074000-Customs Circular No.3    Additional Commisssioner of Income Tax HA Siddiqui sentenced to 4 years imprisonment for accepting bribe of Rs 1 Lakh by CBI Court in Delhi    HC upholds levy of service tax on booking of flats-The explanation which was inserted by the Finance Act of   2010 clearly brings within the fold of taxable service a construction  service provided by the builder to a buyer where there is an intended sale  between the parties whether before, during or after construction    Authority for Advance Ruling rules super concentrates shall be classified as products of the chemical industry under heading 3824 90 90 of Customs Tariff      Anti dumping duty imposed on import of Morpholine from China European Union & USA     Anti dumping duty imposed on import of  Geogrid/Geostrips/ Geostraps made of polyester or Glass fiber in all its forms from      Refund of Anti­-Dumping Duty (Paid in Excess of Actual Margin of Dumping) Rules, 2012 notified-Customs Non-Tariff Notification No.5     Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Amendment Rules, 2012-Customs Non-Tariff Notification No.6     Safeguard duty at the rate of 10% ad  valorem notified on import of Phthalic anhydride, falling under tariff item 2917 35 00-Customs SG Notification No.1     Customs duty on import of Gold, Silver, Cut & Polished Diamonds hiked    Customs duty to be charged at the rate of 2 per cent of Tariff Value on gold and 6 per cent of Tariff Value on silver     Tariff Value for import of gold & silver notified-Customs Non-Tariff Notification No.3     Anti-dumping duty on imports ofSilk fabrics 20-100 gms per metre, falling under heading 5007  originating in, or exported from, China-CustomsTariff Notification No. 2     Anti-dumping duty imposed on imports of Nylon Filament Yarn, falling under Chapter 54 ,originating in, or exported from,  China, Chinese Taipei, Malaysia, Thailand and Korea RP-Customs TariffNotification No.3   Anti-dumping duty imposed on import of Phosphoric Acid of allgrades and all concentrations (excluding Agriculture/Fertilizer Grade) ,falling under tariff item 28092010, originating in, or exported from, Israel and Taiwan-Customs Tariff Notification No.4    Anti-dumping duty on imports of Cellophane Transparent Film , falling under Chapter 39 , originating in, or exported from, China-Customs TariffNotification No.5    Anti-dumping duty onimports of Saccharin, falling under Chapters 29, 30, 33 and 38 ,originating in, or exported from, China-Customs Tariff Notification No.7    Special Bench of ITAT rules the appellant is not entitled to set off carry forward business loss against the long term capital gain arising on sale of land used for the purpose business    ITAT rules Long Term and Short Term gains / losses on sale of equity shares under Portfolio Management Scheme is business income  and not Capital Gains   HC rules the opinion of the AO may have been legally erroneous but this cannot be a ground for initiation of re-assessment proceedings      Anti-dumping duty on ‘Caustic Soda’,  originating in, or exported from, Saudi Arabia, Iran, Japan, USA & France-Customs Tariff Notification No.1    Cost Accountants can issue Certificates for the purpose of refund of 4% CVD-Customs Circular No.1     Customs duty on import from ASEAN nations lowered- Customs Tariff Notification No.127     deeper tariff cut on import from Malaysia notified- Customs Tariff Notification No.128   deeper tariff cuts on import from Korea notified- Customs Tariff Notification No.123  deeper tariff cuts on import from Srilanka & Pakistan under SAFTA notified- Customs Tariff Notification No.125      Schedule of Rates for Service Tax Refund to Exporters notified in supersession of Notification No.17/2009-Service Tax Notification No. 52      Customs duty on import of several products from specified countries lowered-Customs Tariff Notification No.113      Anti-dumping duty on ‘Sodium Hydrosulphite (SHS)’, falling under headings 2831 and 2832 , originating in, or exported from, China PR- Customs Tariff Notification No.111     CBEC specifies documents required for Registration of ServiceTax     Customs duty on import of 532 Products from Singapore lowered-many products exempted from duty-Customs Tariff Notification No. 106     Government allows Rebate of excise duty on export of goods to Nepal under ARE-1 Procedure w.e.f. 1st March 2012-Central Excise Non-Tariff Notification No.24

Services  |  Subscribe  |  Contact Us  |   Feedback   |  E-mail  |  News |  Home
JUDGMENTS
CENTRAL EXCISE
CUSTOMS
SERVICE TAX
INCOME TAX
VAT
FINANCE ACTS
FINANCE BILLS
EOU STPI
SEZ
DGFT
RBI
NTT
RESOURCES


    
Email | Print

Stocks hammered, Metals Butchered, Real Estate Slaughtered

AIT News Network Stock Exchange - Stocks hammered, Metals Butchered, Real Estate Slaughtered

 MUMBAI. 10th October 2008. Share Markets world over are witnessing a crash with Dow Jones hitting 5 year low of 8600 and Sensex plunging by 1090 Points in early trading on Black Friday.Stock Markets in Russia, Indonesia and Iceland remain closed due to unusual movement of market.

RBI has cut CRR by 150 BPS to 7.5 per cent which is effective from 11th October 2008 and cut in interest rates is also anxiously awaited by Industry. CRR cut will infuse and pump in fresh liquidity of Rs 60000 Crore in the Banking system.

Rupee has hit a low of 49.30 per Dollar.

Sensex is inching towards 10000 Points and free fall of shares may find some support at 7500 Points. Several Brokers are facing margin pressure and will be required to square off their positions to sustain in the market.

                FIIs continue to be Net Sellers and until or unless there is flow of substantial funds the short term outlook for the market is gloomy. Several Investors have already asked their Brokers to press Stop Loss Button after getting margin calls from Brokers. Though Domestic Funds are buying heavily in Sensex based shares; even flow of funds with Mutual Funds, UTI and Insurance Companies may not sustain for a long period as selling pressure is too heavy for such buyers to contain the downslide and their inflow will not be able to match outflow of FIIs.  Even domestic Mutual Funds are facing redemption pressure. Small Investors who are still adopting wait and watch attitude are all set to lose their shirts while the operators are swift to exit from the market. But Brokers are happy that retail investors have not yet pressed sale button. But if everybody starts selling, then what will be the bottom of the market is just anybody's guess.

Greed of higher return tempted the investors for playing blind in the market ,who are now regretting not investing in safe bank fixed deposits with 11 per cent interest. Even some non-PSU Banks are facing liquidity crunch due to heavy investment in market and in companies which are not providing any return to them and are finding it tough to return the money to depositors. Private banks are ,therefore, looking for funds at exorbitant interest rates and market is already abuzz with rumours of a Leading Private Bank facing liquidity crunch due to its unsecured lending and high risk non-return investments. Many depositors have already started shifting their deposits to PSU Banks which are considered safer due to Government stake. Even Government of India has also issued directions to PSUs to park their surplus funds in PSU Banks only.

But what happens if you have a fixed deposit of Rs 25 Lakh in a Bank and Bank goes bankrupt. You will still get Rs 1,00,000/- as the deposits by an individual account holder in a bank are insured and thus guaranteed upto Rs 1,00,000/- only. This includes savings and fixed deposit acounts clubbed together including interest thereon in a Bank. It can turn out to be more riskier than even stock market if the Bank goes bust. If rising Gold prices are any indication; gold is being considered a safer investment by the investors and the return on gold is not subject to TDS as in case of interest on fixed deposits, though one can be liable for capital gains tax when there is sale of the gold.

Copper, Zinc and Nickel prices have also fallen considerably in global markets and Real Estate has also to bear the brunt and fall in Real Estate prices is imminent as Asset Prices have fallen all over the world. The world is heading towards a great recession. JD has already forecasted collapse of Auto Industry in 2009.

 

 

  Copyright © 2006 allindiantaxes.com | All rights reserved
website designing India & CMS development: Softlogics & Developments