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 Budget 2009 contained important proposals in regard to exempting packaged software from customs duty, on importation, and on excise duty, with regard to domestic supplies, to the extent that such software is purportedly chargeable to the service tax. The proposals attempted to redress the problem of potential double taxation that arises in regard to such software. Earlier articles in this column had highlighted the problem of double taxation in relation to several transactions including the service taxation of packaged software post the changes announced in the Budget 2009. - E-filing of service tax to be mandatory in 2 months: CBEC - Indirect tax mop-up declines 21.6% in Apr-Oct - Dual tax structure for goods & services - CBEC launches e-payment system for accounts offices - CBEC launches e-payment system for accounts offices - FinMin may resume release of monthly indirect tax data.
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 Discussion paper sets out broad plan, no clarity on deadline. - State worried over GST roll out - Options limited for Madhya Pradesh - Striking government - Web Excl: Budget Expectations - Goods and Service Tax - FM sees 9-10% growth in FY13 - Fiscal autonomy worry for some states Laying the roadmap for the introduction of a goods and service tax (GST), state governments today proposed a dual GST structure, with two rates for goods and a single rate for services. The tax would be levied both by the Centre and the states, though there is still no clarity when the new tax regime will be implemented. Union Finance Minister Pranab Mukherjee had during the budget set April 1, 2010, as the date for the new tax regime that seeks to re-distribute the burden of taxation equitably between manufacturing and services.
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 As the takeover battle between Bharati Shipyard and ABG Shipyard for Great Offshore heats up, analysts feel it is the right time for retail investors to book profits as the fundamentals of the target firm"s stock do not support sustainability of its current price. - ABG Shipyard gears up to match Bharati"s open offer - Bharati expects nod for Great Offshore open offer soon - Bharati Shipyard mulls Rs 200-cr capex over two years - Sebi may ok Bharati"s offer for Great Offshore in 10 days - No offer received from Bharati Shipyard, ABG: Great Offshore - ABG to counter Bharati"s bid for Great Offshore Ever since the bidding war between Bharati and ABG started in June, Great Offshore"s stock has jumped significantly. While its stock price was Rs 247.95 on April 1, on June 1 it touched Rs 373.70 and closed at Rs 560.55 on October 1. "The current price is not a true reflection of the fundamentals of the stock.
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 Credit offtake remained subdued at 11 per cent during the one-year period ending December 18, indicating the economic activity is yet to fully pick up momentum. - Credit growth at 10.41 per cent - Credit offtake growth slows to 9.8% - Bank lending grows 9.6 % - PSU banks expect pick up in credit offtake post-Sept - SBI expects marginal growth in credit offtake for June quarter - Bank credit offtake increases by 15% The banking credit during the year showed an increase of Rs 2.92 lakh crore, down from Rs 5.12 lakh crore in the previous year, says the Reserve Bank of India (RBI) data released today. The rate of increase in credit offtake works out to be 11 per cent during the year compared to 24 per cent during 2008. For the fortnight ending December 18, credit offtake increased by 11.08 per cent at Rs 29,20,759 crore compared to Rs 26,29,253 crore in the year-ago period.
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