Notifications & Circulars

Ministry of Commerce and Industry

10.04.2024

Customs

Notification regarding PCN methodology and filing of questionnaire responses in specified Anti-dumping investigation

MANU/COMM/0053/2024

1. The investigation was initiated on 13th February 2024 vide Initiation Notification No. 6/29/2023-DGTR. The non-confidential version of the application filed by the domestic industry was circulated to all interested parties vide email dated 19th March 2024. The interested parties were granted an opportunity to present their comments on the scope of the PUC and propose PCNs, if required, within a period of 15 days from the date of the circulation of the non-confidential version application which ended on 3rd April 2024. No proposals have been received for construction of PCNs. Hence no PCN methodology is adopted by the Authority for the present investigation.

2. Accordingly, all interested parties are requested to file their respective questionnaire responses by 10th May 2024 in accordance with the Section K of the Initiation Notification. Failure to adhere with the timelines may result in the treatment of your company in terms of Section L of the Initiation Notification.

3. As trade remedial investigations are time bound in nature, no further extension of time will be granted in the captioned matter.

Tags : PCN methodology Anti-dumping Investigation

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Ministry of Commerce and Industry

09.04.2024

Commercial

Director General of Foreign Trade notifies procedures for registration of import consignments under Melon Seeds Import Monitoring System

MANU/DGFT/0058/2024

1.In exercise of powers conferred under Paragraph 1.03 and 2.04 of the Foreign Trade Policy (FTP) 2023, as amended from time to time, and in reference to Notification 05/2023 dated 05.04.2024, the Director General of Foreign Trade hereby notifies the procedures for registration of import consignments under Melon Seeds Import Monitoring System (MS-IMS) as follows:-

i. The importer may apply under MS-IMS online on the DGFT Website -> Services -> Import Management System -> Services under Import Monitoring System -> Melon Seeds & Yellow Peas Import Monitoring System. The importer on submission of advance information in MS-IMS and on online payment of Rs. 500/-, shall be issued an Automatic Registration Number.

ii. The concerned Importer(s) shall undertake MS-IMS registration within 10 (ten) days from the date of Bill of Lading (Shipped on Board).

iii. 1 Automatic Registration Number shall be valid for 1 specific country of Origin and 1 Port of Import only. Automatic Registration Number granted shall be valid for any number of import consignments.

iv. Bill of Lading (Shipped on Board) details shall be declared in the MS-IMS registration. Multiple Bills of Lading (Shipped on Board) details may be specified under a single MS-IMS registration.

v. All copies of Bills of Lading (Shipped on Board) should be mandatorily uploaded during the registration process. The Importer may choose to mask the Exporter details on the said Bills of Lading copies.

2. At the time of Import clearance, the concerned Importer(s) are required to submit the MS-IMS Automatic Registration Number details, along with a valid FSSAI Manufacturer Licence for Melon Seeds in line with FSSAI Order RCD-12005/1/2021-Regulatory-FSSAI-Part(2) (E-1638) dated 15.03.2024,to the concerned Customs Port Authorities.

Effect of this Public Notice: Timelines and Procedures for registration under the Import Monitoring System (MS-IMS) for import of Melon Seeds are notified.

Tags : Procedures Registration Import consignments

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Press Information Bureau

09.04.2024

Civil

Government extends deadline for submission of R&D Proposals under National Green Hydrogen Mission

MANU/PIBU/0329/2024

The Ministry of New & Renewable Energy, Government of India has issued Guidelines for implementation of R&D Scheme under the National Green Hydrogen Mission.

The R&D scheme seeks to make the production, storage, transportation and utilization of green hydrogen more affordable. It also aims to improve the efficiency, safety and reliability of the relevant processes and technologies involved in the green hydrogen value chain.

The scheme also aims to foster partnerships among industry, academia and government in order to establish an innovation ecosystem for Green Hydrogen technologies. The Scheme will also help the scaling up and commercialization of Green Hydrogen technologies by providing the necessary policy and regulatory support. As mentioned in the Scheme Guidelines, which were issued on 15th March, 2024, the R&D Scheme will be implemented with a total budgetary outlay of Rs. 400 crores till the financial year 2025-26.

The support under the R&D program includes all components of the Green Hydrogen value chain, namely, production, storage, compression, transportation, and utilization. The R&D projects supported under the Mission will be goal-oriented, time bound, and suitable to be scaled up. In addition to industrial and institutional research, innovative MSMEs and start-ups working on indigenous technology development will also be encouraged under the Scheme. The Scheme Guidelines can be accessed here.

Subsequent to the issue of the guidelines, the Ministry of New & Renewable Energy issued Call for Proposals on 16th March, 2024. While the Call for Proposals is receiving encouraging response, some stakeholders have requested more time for submission of R&D proposals. In view of such requests and to allow sufficient time to the institutions for submitting good-quality proposals, the Ministry has extended the deadline for submission of proposals to 27th April, 2024. The extension order can be accessed here.

The National Green Hydrogen Mission was launched on 4th January, 2023 with an outlay of Rs. 19,744 crores up to the financial year 2029-30.

Tags : R and D Proposals Deadline Extension

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Press Information Bureau

09.04.2024

Commercial

EU-India join forces to promote start-up collaboration on Recycling of E-Vehicles Batteries under Trade and Technology Council

MANU/PIBU/0328/2024

The European Union (EU) and India today launched an Expression of Interest (EoI) for startups working in Battery Recycling Technologies for Electric Vehicles (EVs) for a matchmaking event. The matchmaking aims to enhance the cooperation between European and Indian Small and Medium-sized Enterprises (SMEs) and startups in the clean and green technologies sector. The intended exchange of knowledge and expertise will be instrumental in advancing the circularity of rare materials and transitioning towards carbon neutrality in both India and the EU. This initiative takes place under the India-EU Trade & Technology Council (TTC), announced by India and the European Commission in New Delhi on 25th April 2022.

This event is also part of a broader effort to promote a sustainable agenda, foster innovation, and forge stronger economic relations between the European Union and India.

The EoI for the Matchmaking Event launched today, provides a platform for Indian and EU startups/SMEs in the field of EV Battery Recycling Technologies to pitch their innovative solutions and engage with Indian/European venture capitalists and solution adopters. Twelve innovators, six each from India and the EU will be selected and get a pitching opportunity during the Matchmaking Event, scheduled for June 2024. Six finalists (three from the EU and three from India) will be selected following their pitching presentations and awarded the possibility to visit India and the EU, respectively.

The key highlights of the event are: (i) to identify, support, and promote startups/SMEs dedicated to advancing the field of battery recycling technologies for EV; and (ii) to facilitate cooperation, explore potential trade avenues, deepen customer relations and to explore investment avenues for the shortlisted startups/SMEs.

The Matchmaking Event under India-EU TTC Working Group 2 offers Indian startups/SMEs an exclusive platform to demonstrate their expertise in battery recycling technologies. It provides a chance for Indian innovators to establish strategic alliances with their counterparts in the EU, accelerating the development of advanced battery recycling techniques focused on waste minimization and resource sustainability.

"Our objective is to harmonize efforts with EU innovators to jointly develop battery recycling solutions that drive industry expansion. We are dedicated to fostering a collaborative environment where sustainability and innovation form the cornerstone of a flourishing circular economy", said Professor Ajay Kumar Sood, Principal Scientific Adviser to the Government of India.

Mr. Marc Lemaître, Director-General for Research and Innovation at the European Commission emphasized the need for collaboration dedicated to the EV Battery Recycling industry and said, "The match-making event is a step-ahead to unlock innovative possibilities leading to a green and circular economy. We encourage innovators from the EU to seize this opportunity and explore potential collaborations with their Indian counterparts."

Interested startups and SMEs from India and the EU are invited to submit their Expressions of Interest (EoI) by 30th April, 2024.

About the Trade and Technology Council set up by India and the EU

The India-EU Trade and Technology Council (TTC) was first announced by the European Commission and India in April 2022. Established on 6 February 2023, this strategic coordination mechanism allows both sides to tackle challenges at the nexus of trade, trusted technology, security and deepens cooperation in these fields. Establishing India-EU TTC is a key step towards a strengthened strategic partnership for people in India and the EU.

The TTC is a key forum to deepen the strategic partnership on trade and technology between the two partners. Geostrategic challenges have reinforced the EU and India's common interest in ensuring security, prosperity, and sustainable development based on shared values.

The TTC will help increase EU-India bilateral trade, which is at historical highs, with 120 billion worth of goods traded in 2022. In 2022, 17 billion of digital products and services were traded.

The TTC consists of three Working Groups:

(1) Working Group 1 on Strategic Technologies, Digital Governance and Digital Connectivity.

(2) Working Group 2 on Green and Clean Energy Technologies; and

(3) Working Group 3 on Trade, Investment and Resilient Value Chains.

Working Groups are now jointly working to advance identified objectives and key actions. The matchmaking event launched today is one of the key agreed short-term actions under Working Group 2 on Green and Clean Energy Technologies. The India-EU TTC Working Group 2 on Green and Clean Energy Technologies is being co-chaired from the Indian side by the Office of the Principal Scientific Adviser to the Government of India and from the EU side by the Directorate-General for Research and Innovation of the European Commission.

Tags : Collaboration Recycling E-Vehicles Batteries

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Reserve Bank of India

08.04.2024

Banking

Directions under Section 35A read with section 56 of the Banking Regulation Act, 1949 -The Shirpur Merchants' Co-operative Bank Ltd., Shirpur

MANU/RPRL/0232/2024

1. It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. CO.DOS.SED.No.S175/45-11-001/2024-2025 dated April 05, 2024, has issued certain Directions to The Shirpur Merchants' Co-operative Bank Ltd., Shirpur, whereby, as from the close of business on April 08, 2024, the bank shall not, without prior approval of RBI in writing grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except as notified in the RBI Direction dated April 05 2024, a copy of which is displayed on the bank's website / premises for perusal by interested members of the public. Considering the bank's present liquidity position, no amount from the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn, but are allowed to set off loans against deposits subject to the conditions stated in the above RBI Directions.

2. The eligible depositors would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) in the same capacity and in the same right, from the Deposit Insurance and Credit Guarantee Corporation, under the provisions of Section 18A of the DICGC Act (amendment) 2021, based on submission of willingness by the concerned depositors. The depositors may contact their bank officials for further information. Details may also be accessed on the DICGC website: www.dicgc.org.in.

3. The issue of the above Directions by the RBI should not per se be construed as cancellation of banking license by RBI. The bank will continue to undertake banking business with restrictions till its financial position improves. The Reserve Bank may consider modifications of these Directions depending upon circumstances.

4. These Directions shall remain in force for a period of six months from the close of business on April 08, 2024 and are subject to review.

Tags : Directions Loans Prior approval

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Press Information Bureau

08.04.2024

Direct Taxation

Clarification regarding media reports claiming special drive to reopen cases with reference to HRA claims

MANU/PIBU/0327/2024

There is no special drive to re-open cases of mismatch, and media reports alleging that large-scale re-opening is being undertaken by the CBDT are completely misplaced.

Apprehensions are about retrospective taxation in this matter and re-opening of cases on issues pertaining to HRA claims is completely baseless.

Certain instances of mismatch of information as filed by the taxpayer and as available with the Income Tax Department have come to the notice of the Department as part of its routine exercise of verification of data. In such cases, the Department has alerted the taxpayers to enable them to take corrective action. However, some posts on social media, as well as articles in the media, have highlighted enquiries initiated by the Central Board of Direct Taxes (CBDT) in cases where employees have made incorrect claims of HRA and rent paid.

At the outset, it is stated that any apprehensions about retrospective taxation on these matters and re-opening of cases on issues pertaining to HRA claims is completely baseless.

Data analysis was carried out in some high-value cases of mismatch between the rent paid by the employee and receipt of rent by the recipient for the FY 2020-21.

This verification was done in a small number of cases without re-opening bulk of cases, especially since Updated Return for FY 2020-21 (AY 2021-22) could have been filed by the taxpayers concerned only till 31.03.2024.

It is underlined that the objective of the e-verification was to alert cases of mismatches of information for FY 2020-21 only without affecting the others.

It is reiterated that there is no special drive to re-open such cases, and media reports alleging that large-scale re-opening is being undertaken by the Department are completely misplaced.

Tags : Clarification Reopening of cases HRA claims

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