Notifications & Circulars
Press Information Bureau
10.10.2018
Indirect Taxation
Examination for Confirmation of Enrollment of GST Practitioners
MANU/PIBU/1413/2018
The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) is conducting an examination for confirmation of enrolment of Goods and Services Tax Practitioners (GSTPs) enrolled on the GST Network under sub-rule (2) of Rule 83 and covered by clause (b) of sub-rule (1) of Rule 83 of Central Goods and Service Tax Rules, 2017. Such GSTPs are required to pass the examination before 31st December, 2018. The examination will be held on 31.10.2018 from 1100 hrs to 1330 hrs at designated examination centres across India. In this matter kindly refer Press Release dated 17th September, 2018.
The registration for this exam by the eligible GSTPs has already started on 25th September, 2018, on a registration portal, link of which has been provided on NACIN and CBIC websites under the TAB "GSTP Exam Registration".
The last date of registration which was previously 10th October 2018, is now extended up to 15th October 2018 (11:59:59PM). All eligible candidates are requested to register themselves on the Exam registration portal urgently.
Tags : Enrollment GST Practitioners Examination
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Press Information Bureau
10.10.2018
Environment
Cabinet approves Memorandum of Cooperation between India and Finland on Environmental Cooperation
MANU/PIBU/1414/2018
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved Memorandum of Cooperation between India and Finland on Environmental Cooperation. The Memorandum of Cooperation will enable establishment and promotion of closer and long-term cooperation between the two countries in the field of environment protection and management of natural resources on the basis of equity, reciprocity and mutual benefits, taking into account the applicable laws and legal provisions in each country.
The Memorandum of Cooperation is expected to bring in the latest technologies and best practices suited for bringing about better environment protection, better conservation, and better management of climate change and wildlife protection/conservation.
The areas of cooperation under this Memorandum of Cooperation shall include:
i. Air and water pollution prevention and purification, remediation of contaminated soils;
ii. Waste management including hazardous wastes, and waste-to-energy technologies;
iii) Promotion of circular economy, low-carbon solutions and sustainable management of natural resources including forests.;
iv) Climate change;
v) Environmental and Forest monitoring and data management;
vi) Conservation of Marine and Coastal Resources;
vii) Integrated water management of Oceanic/Sea Islands; and
viii) Any other areas jointly decided upon.
Background:
The concerns of rising environmental issues are not limited to any country but pose a serious challenge to the entire Globe. India is one of the emerging economies in the world with vast coastline and rich bio-diversity. Finland's main environmental issues are air and water pollution, and the preservation of its wildlife. Finland's principal environmental agency is the Ministry of the Environment, established in 1983. Industrial pollutants from within the country and surrounding countries affect the purity of both the nation's air and water supplies. It also faces challenges like water pollution and increased demand for natural resources. Both the Countries face many environmental challenges like waste water management, conservation of threatened species, control of air and water pollution and increased demand for natural resources.
In view of the urgency to check: the growing environmental concerns both the countries have decided to join hands to establish and promote closer and long term cooperation in the field of environment protection and management of natural resources and bring in the latest technologies and best practices suited towards better environmental protection.
Tags : Environment Protection Co-operation Approval
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Press Information Bureau
10.10.2018
Arbitration
NITI Aayog Organises Workshop on Best Practices in International Arbitration
MANU/PIBU/1416/2018
The NITI Aayog and ICC International Court of Arbitration organised the inaugural Training-cum-Brainstorming Workshop on Best Practices in International Arbitration in New Delhi today.
Moving towards a New India in 2022, ensuring legal reform is a key and critical priority. Complementing 'Make in India' vision with 'Resolve in India', strong alternate dispute resolution mechanisms are important levers in encouraging the Ease of Doing Business and Ease of Living in India.
The workshop was inaugurated by the chief guest, Justice Arjan Kumar Sikri, Judge, Supreme Court of India, and was presided over by P.P. Chaudhary, MoS, Ministry of Law and Justice. Amitabh Kant, CEO, NITI Aayog was also present during the workshop.
The workshop is part of on-going efforts to institutionalize and streamline dispute resolution to make India a hub for doing business. Following the international conference on arbitration held in 2016 and the National Law Day conference in 2017, the present workshop continues to encourage and highlight the need for understanding and implementing arbitration across the spectrum of commercial contracts, with over 200 senior officers from Central and State Governments, and Public Sector Undertakings participating.
With government's thrust on 'Make in India', it is important for investors, both domestic and international, to have faith in the dispute resolution mechanism in India. In this regard, a well drafted dispute resolution mechanism and a comprehensive understanding of best practices and procedures would complement the initiative and give the much-needed impetus to effective and timely enforcement of contracts.
The workshop covered basic concepts of international arbitration and included best practices on drafting of arbitration agreements, factors to consider when deciding on the seat, venue, institution and governing law. It also covered topics related to the selection of arbitrators; enforcement of arbitral awards and the role of courts before, during and after the arbitration. The topics of the information sharing session were delivered by world class faculty and practitioners from the United Kingdom, Singapore, Paris and India.
The training-cum-brainstorming workshop is an important part of the on-going endeavour by NITI Aayog in a co-operative setting to skill and prepare senior officers for global best practices and give them the opportunity to gain expertise in enhancing the ability to understand, review, revise and draft Arbitration related aspects of contracts.
NITI Aayog Encouraging Arbitration in India
NITI Aayog first highlighted the importance of Arbitration by organizing a successful two-day conference on international arbitration in 2016 with over 1400 participants, which was presided over by the President of India and Prime Minister of India and saw participation from the Chief Justices of all SAARC countries. The conference explored the vitality of commercial arbitration, both domestic and international, as the preferred method of resolving disputes between parties. NITI also organized the two-day National Law Day Conference in 2017, with the Law Commission of India, which treaded new ground with debate and discussion on a multitude of legal aspects, including dispute resolution. This conference also saw over 1400 participants on each day of the event and the participation of the President of India, the Prime Minister, the Chief Justice of India, Union Cabinet Ministers and eminent personalities.
Tags : Workshop Best Practices International Arbitration
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Securities and Exchange Board of India
10.10.2018
Capital Market
Remittance of Refund Amounts to Investors of PACL
MANU/SPRL/0046/2018
SEBI in compliance of the order dated February 02, 2016 of the Hon'ble Supreme Court of India in the matter of Subrata Bhattacharya V. Securities and Exchange Board of India (CA No. 13301/2015) and other connected matters constituted a committee under the chairmanship of Hon'ble Mr. Justice R.M. Lodha, former Chief Justice of India, for disposing of the properties of PACL Ltd. so that the sale proceeds can be paid to the investors, who have invested their funds in PACL Ltd. (the 'Committee').
The Committee, thereupon, in pursuance of its mandate started the process of receipt of claim applications, at the first instance, from investors having claims of not more than Rs. 2,500. The said process was open till March 31, 2018.
In furtherance thereof, the Committee has started remitting refunds to investors after verification of the claim applications as received. Till date refunds in respect of one lakh thirteen thousand three hundred and fifty two (1,13,352) claim applications have been credited to the bank accounts provided by the investors in the claim applications.
Tags : Remittance Refund Amounts Investors
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Telecom Regulatory Authority of India
10.10.2018
Media and Communication
TRAI releases Consultation Paper on "Methodology for levy of Spectrum Charges for provision of Satellite based Services using Gateway installed in India under 'sui-generis' category"
MANU/TRAI/0114/2018
1. The Telecom Regulatory Authority of India (TRAI) has today released a Consultation Paper on "Methodology for levy of Spectrum Charges for provision of Satellite based Services using Gateway installed in India under 'sui-generis' category".
2. The Department of Telecommunications (DoT), through its letter dated 13th August, 2018, informed that based on the TRAI recommendations dated 12th May, 2014 on 'Provisioning of INMARSAT/Satellite Phone Services', M/s BSNL has been granted a service license dated 25th August, 2014 for 'Provision and Operation of Satellite based services using gateway installed in India' under "Sui-generis" category by DoT. Presently, the annual spectrum charges for the Gateway and user terminals are levied on formula basis (proportional to the number of terminals and frequency bandwidth used). M/s BSNL has been requesting to change the present methodology of spectrum charging from formula based to Adjusted Gross Revenue (AGR) based for provision of this service in line with the commercial VSAT service. Therefore, DoT requested TRAI to provide its recommendations on the method of levy of annual spectrum charges as per the provision under section 11(1) of TRAI Act, 1997 as amended.
3. In view of the above, Consultation Paper on "Methodology for levy of Spectrum Charges for provision of Satellite based Services using Gateway installed in India under ‘sui-generis' category" has been released to discuss the issues involved and possible solutions. Written comments on the issues raised in the Consultation Paper are invited from the stakeholders by 31st October, 2018 and counter-comments by 8th November, 2018.
Tags : Consultation Paper Levy Spectrum Charges
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Press Information Bureau
09.10.2018
Election
Section 151 A of the Representation of the People Act 1951 mandates ECI to fill casual vacancies
MANU/PIBU/1412/2018
It is understood that some newspapers have reported that the Commission on the one hand announced the bye elections to fill the three casual vacancies in Lok Sabha from Karnataka while the bye elections to fill five vacancies in Lok Sabha from Andhra Pradesh have not been announced.
In this connection, it is to be noted that vacancies from 9-Bellary (ST), 14-Shimoga and 20-Mandya Parliamentary Constituencies of Karnataka have occurred on 18th May, 18th May and 21st May, 2018 respectively, whereas vacancies from the five parliamentary constituencies from Andhra Pradesh have occurred on 20th June, 2018.
Section 151A of the Representation of the People Act, 1951 mandates the Election Commission to fill the casual vacancies in the Houses of Parliament and State Legislatures through bye elections within six months from the date of occurrence of the vacancy, provided that the remainder of the term of a member in relation to a vacancy is one year or more.
The term of sixteenth Lok Sabha is upto 3rd June, 2019. As the vacancies from Karnataka have occurred more than one year before the expiration of the term of House, bye elections are required to be held under Section 151A of R. P. Act 1951 to fill these vacancies within six months from the date of occurrence of vacancies that is 18th & 21st May, 2018. In the case of vacancies from Andhra Pradesh, there is no need to hold bye elections as the remaining term of the Lok Sabha is less than one year from the date of occurrence of vacancies that is 20th June, 2018.
Section 151A of the Representation of the People Act, 1951 is reproduced below:
151A. Time limit for filling vacancies referred to in sections 147, 149, 150 and 151.-Notwithstanding anything contained in section 147, section 149, section 150 and section 151, a bye-election for filling any vacancy referred to in any of the said sections shall be held within a period of six months from the date of the occurrence of the vacancy: Provided that nothing contained in this section shall apply if- (a) the remainder of the term of a member in relation to a vacancy is less than one year; or (b) the Election Commission in consultation with the Central Government certifies that it is difficult to hold the bye-election within the said period.
Tags : Casual vacancy Filling of
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Press Information Bureau
08.10.2018
Civil
Buyers from West Europe to source F and B from India
MANU/PIBU/1409/2018
European supermarket chains and top manufactures of processed food will be sourcing their Food and Beverage (F&B) requirements from India at the Indusfood-II - the export focused annual F&B trade fair organized by Trade Promotion Council of India (TPCI) jointly with Department of Commerce, Ministry of Commerce and Industry.
Discussions were held with TPCI and Ms. Maria Carillo, International Director of FIAB (Spanish Federation of Food and Drink Technology) for bilateral cooperation and promotion of Indian and Spanish dairy sector. Ms. Maria Carilloevinced keen interest in sending a delegation to India during Indusfood-II to source their raw food requirements from India. Milk plays an important role in the northern regions of Spain as it is the main agricultural produce with the dairy industry contributing to 9% of gross added value of Spanish food and drink sector.
Indusfood is a tradeshow, the second edition of which will be held in Greater Noida (NCR Delhi) on January 14-15, 2019, to showcase India's best line-up of food, beverages and agri products to global buyers, many of whom have already committed participation in Indusfood-II and are gearing up for B2B meetings and business tie-ups with Indian food suppliers. It will also generate interest in the large basket of brands, private labels and bulk purchase opportunity of raw items that India could offer to the world.
Indusfood-2019 will see the participation of many foreign government delegations and representatives of large foreign companies involved in strategic purchase of food commodities through investments or long-term purchase agreements to achieve the food security of their country or to supply their large food processing industries.
The Indusfood-I, held in early 2018, was a big success that saw international buyers from 43 countries and 320 Indian exporters, from 12 categories of Food and Beverage industry, generating an estimated business of $650 million. The Indusfood-II is expected to see the participation of more than 600 global buyers from around 50 countries.
TPCI is committed to promote value added packed Indian consumer products in the F&B segment by establishing direct contacts with the major retailer chains of the world. This leads to popularization of Indian taste and culinary traditions with Indian ready-to-eat products. Over 75 global retailers with high regional penetration and market size such as Panda of Saudi Arabia, Magnet of Russia, BIM of Turkey or Rewe of Germany and many more will be present during the show with their purchase teams which will give direct access on the international platform to Indian brands. TPCI's efforts are to put India on the global F&B map and establish it as a global market in the food trade giving India the much needed recognition as a major player in the global food value chain.
Tags : Food and Beverage Sourcing India
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Press Information Bureau
08.10.2018
Direct Taxation
CBDT further extends date for filing Income Tax Returns and Audit Reports
MANU/PIBU/1410/2018
The due date for filing of Income Tax Returns and Audit Reports for Assessment Year 2018-2019 is 30th September, 2018 for certain categories of taxpayers. Central Board of Direct Taxes (CBDT) had earlier extended the date for filing of Income Tax Returns and various reports of Audit to 15th October, 2018. Upon consideration of representations from various stakeholders, CBDT further extends the 'due date' for filing of Income Tax Returns as well as reports of Audit (which were required to be filed by the said specified date) from 15th October, 2018 to 31st October, 2018 in respect of the said categories of taxpayers. However, as specified in earlier order dated 24.09.2018, assessees filing their return of income within the extended due date shall be liable for levy of interest as per provisions of section 234A of the Income-tax Act, 1961.
Tags : Income Tax Returns Date Extension
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