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Indirect taxes see 22% fall
The green shoots visible in the economy failed to enhance government revenue with indirect tax collections — comprising customs, excise and service tax — falling almost 22 per cent to Rs 1,26,903 crore in the April-October period this year. It stood at Rs 1,61,954 crore in the corresponding seven months of 2008-09. The overall decline was led by a 32 per cent fall in customs revenue.

M&M net vaults 849% to Rs 413 cr
Tractor and utility vehicle (UV) manufacturer, Mahindra & Mahindra (M&M), today posted a net profit of Rs 413 crore for the quarter ended December 31, 2009. This was an increase of 849 per cent, aided by the low profit base of Rs 43 crore in the same quarter of the previous financial year.

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Consumer court absolves airline of deficient service charges
Air passengers denied entry in Indonesia found no respite from the Delhi Consumer Commission, which exonerated Malaysian Airlines of any deficiency in service, citing absence of any reason for disallowing their entry by the immigration authorities of that country.
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Toyota mulls price hike of Corolla Altis, Innova

Toyota Kirloskar Motor (TKM) is considering a price increase in Corolla Altis and Innova due to rising input costs and fluctuation in exchange rates, the company said in a statement today. - Toyota receives 5,000 bookings for its SUV Fortuner - Fiat aims to sale 50,000 units in next fiscal - Audi August sales jump 69% - Maruti Suzuki sales surge 42% in August - Toyota targets 150 dealerships in India by 2010 - Hyundai to invest $40 mn for setting up R&D centre Meanwhile, TKM said it had received a "record" 5,000 bookings of the Fortuner in just over a month. TKM is trying to ramp up monthly production figures from 500 to 600 units to meet high customer demand and also plans to sell 2,500 units of the Fortuner in 2009 against the earlier announced target of 2000 units, it said. "As of now, TKM dealers have been advised to take orders without advance payments, while committing to a tentative date of delivery", the company said. TKM announced a 35 per cent growth in overall sales in August 2009 over the same month last year. The Corolla Altis has registered a 91 per cent rise in sales for January-August 2009 as against the corresponding period last year.


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