Nation
Assam becomes first state to ratify GST bill
 Assam on Friday became the first state to ratify the Constitution amendment bill related with the Goods and Services Tax, following its passage by both houses of parliament this month.
 
"A historic resolution was passed in Assam Assembly as Assam became the 1st State to ratify the Constitutional Amendment Bill relating to GST," Chief Minister Sarbananda Sonowal tweeted soon after it was ratified.
 
"I am sure Assam will benefit from the GST through higher economic growth and better revenue collection," said the 53-year-old chief minister, who is a senior leader of the Bharatiya Janata Party (BJP).
 
At least 50% of the states have to pass what is technically the Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014, for the next steps of legislative action to follow, to ultimately introduce a pan-India Goods and Services Tax regime.
 
The new regime seeks to subsume all central indirect levies like excise duty, countervailing duty and service tax, as also state taxes such as value added tax, entry tax and luxury tax, to create a single, pan-India market.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Shah Rukh Khan detained at US airport
Bollywood superstar Shah Rukh Khan says he was detained at a US airport.
 
"I fully understand and respect security with the way the world is, but to be detained at US immigration every damn time really really sucks," Shah Rukh said in a tweet posted on Friday morning (IST).
 
Precise details of when and why he was detained were not known. But Bollywood sources have said the actor was in Los Angeles.
 
On a positive note, he wrote: "The brighter side is while waiting caught some really nice Pokemons."
 
This is not the first time that Shah Rukh, one of Hindi film industry's most successful stars, has been detained at a US airport.
 
In 2012, the "My Name Is Khan" actor was detained at a New York airport for two hours when he had arrived to visit Yale University, where he was honoured as a Chubb Fellow.
 
Back in 2009, he was stopped at the Newark Airport, New Jersey, and was released after two hours at the intervention of the Indian consulate in New York.
 
"I was really hassled at the American Airport because of my name being Khan. It was absolutely uncalled for. I felt angry and humiliated," said Shah Rukh, who was then heading towards Chicago to participate in an Independence Day celebration event.
 
"It is a Muslim name and I think the name is common on their checklist," he had then said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Bharti Airtel acquires spectrum in 7 circles in trading deal with Aircel
Bharti Airtel has acquired the rights to use Aircel's Odisha circle, with which it completed rights to use 4G airwaves of Aircel in seven out of eight circles in the spectrum trading deal between the companies.
 
"The acquisition of rights to use 20 MHz 2300 Band BWA spectrum from Aircel, Bharti Airtel has now informed BSE that the proposed transaction has been successfully concluded for Odisha circle following the receipt of all necessary approvals and satisfying all the conditions (including conditions stated in the spectrum trading guidelines)," a regulatory filing by the company said on Thursday.
 
"With this, the company has completed the transaction in 7 out of 8 circles namely Tamil Nadu (including Chennai); Bihar, Jammu & Kashmir, West Bengal, Assam, North East and Odisha," the filing with the BSE said.
 
Bharti Airtel announced on April 8 it has entered into a definitive agreement with Aircel to acquire its 4G airwaves in eight circles for Rs 3,500 crore through a spectrum trading deal.
 
"Bharti Airtel and its subsidiary, Bharti Hexacom have entered into a definitive agreements with Aircel and its subsidiaries Dishnet Wireless and Aircel Cellular to acquire rights to use 20 MHz of 2300 band 4G spectrum for eight circles for an aggregate consideration of Rs 3,500 crore," the company earlier said in a statement.
 
The eight circles are Tamil Nadu (including Chennai), Bihar, Jammu and Kashmir, West Bengal, Assam, North East, Andhra Pradesh and Odissa.
 
The spectrum is valid till September 20, 2030.
 
With this acquisition, the company will become a pan India 4G operator, the statement added.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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