REVENUE DEPARTMENT TO SET UP COMMITTEE TO DEAL WITH BOGUS
E-WAY BILLS
The revenue department is
planning to set up a committee of tax officers to suggest steps to deal with
bogus e-way bills Many instances of bogus e-way bills and fake invoices have
come to the notice of the Central Board of Indirect Taxes and Customs (CBIC)
since April last year. Instances on bogus e-way bills based on fake invoices
have been detected since April and the tax evasion involved worked out to about
Rs 5,000 crore, an official told. Touted as an anti-evasion measure, the e-way
bill system was rolled out on April 1, 2018, for moving goods worth over Rs
50,000 from one state to another. The same for intra or within the state
movement was rolled out in a phased manner from April 15. A committee of Centre
and state officers would be set up which would analyse the modus-operandi of
fake e-way bills generation and would suggest steps to stop it, the official
added. The officials feel that to shore up revenue and increase compliance,
stringent anti-evasion measures have to be put in place. To this effect the
revenue department is also working towards integrating the e-way bill system
with NHAI's FASTag mechanism beginning April to help track movement of goods.
It has come to the investigative officers' notice that some transporters are
doing multiple trips by generating a single e-way bill. Integration of e-way
bill with FASTag would help find the location of the vehicle, and when and how
many times it has crossed the NHAI's toll plazas.
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ANTI PROFITEERING IN GST– IS LITIGATION AN OPTION?
In India, litigation has
always been a tool and solution for tax payers to seek redressal from the
actions of the tax administration. Litigation is now almost second nature when
dealing with tax matters. Routine tax matters have to follow a defined
redressal path provided within tax statutes. It is only after exhausting the
redressal options that a tax matter can reach a High Court. However, in the
case of orders issued by the National Anti-Profiteering Authority - an
institutional mechanism under the GST law - the accepted view is that the first
redressal is with the High Court. We are aware now that tax payers have
approached the High Court against the orders of the Anti-Profiteering
Authority. Routine tax matters arise between the tax payer and tax
administration and are mainly around interpretation of tax laws. However, in
case of anti-profiteering, the tax payer could be implicated by a disgruntled
consumer or by even a motivated competitor. A recent order provides multiple
definitions of profiteering, one of which says, Profiteering is a pejorative
term for the act of making a profit by methods considered unethical. Any action
under the anti-profiteering legislation carries a negative perception unlike
issues on routine tax matters. Therefore an allegation of profiteering not only
has a fiscal implication, but could also impact the reputation of the tax
payer. Profits are understandable, but profiteering implies gains made at the
expense of the consumer, which is not acceptable. In the not too distant past
we were aware of media attention and public scrutiny on consumer businesses
caught up in tax and non-tax controversies. Such attention and scrutiny can
have a big adverse impact on the reputation of the tax payer and at times, on
its revenue as well. The premise of anti-profiteering is that if the government
has given up its revenue, this benefit has to be passed on and enjoyed by the
consumer. If this is not done, it will be held that the tax payer has
profiteered. There is no standard methodology prescribed for assessing
profiteering and at times it may not be feasible to immediately implement the
requirements. Based on orders passed, what is tested is whether the law has
been followed, in letter and spirit. This premise should become the guiding
principle when dealing with anti-profiteering requirements. High Court matters
are public hearings unlike the other redressal options provided in tax
statutes, which are conducted in private. Hence once a matter reaches the High
Court, it is open to public scrutiny and subject to interpretation even when it
is sub-judice. Anti-profiteering orders have been making headline news these
days and High Court hearings will provide more information on the matter in
public domain. These matters are likely to take at least a couple of years to
resolve and hence the public scrutiny will continue for a long time. Though
free publicity in most cases is welcome, but in such matters it may not be
desirable. From the orders passed, it is apparent that a lot of financial and
business related data has to be submitted for anti-profiteering matters. More
information may be required by the courts when dealing with this issue. Though
the anti-profiteering provisions are a part of the GST law they are for
consumer protection. There is no tax revenue bias that would be guiding the
actions of the Anti – Profiteering Authority. An early and quick settlement of
any complaint would be in the interest of the consumer and this should be the
basis on which the anti-profiteering investigation and adjudication is
conducted. Protracted litigation on anti-profiteering matters will only delay
the relief to the consumer and defeat the entire purpose of this provision.
Hence, is litigation really an option? Or could it be a case of Hobson’s choice
– there are alternatives, but realistically there is only one to choose.
Litigation will only lead to more uncertainty on the benefits of GST to the
consumer. The need of the hour is towards a constructive dialogue to ensure
that the consumer gets the relief. There may be certain principles on which there
can be no compromise. Hence, in such cases litigation may be the only choice.
Even then it may be prudent for the tax payer to not only look at the legal
issues, but to also take a long and hard view at the reputation risk associated
with litigation and then decide the way forward.
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CBDT ISSUES GUIDELINES FOR DEFENDING CASES AT CIT (APPEALS)
The Central Board of
Direct Taxes (CBDT) has issued guidelines for the department to properly defend
cases at the CIT (appeals) level, since a recourse would not be available for a
further appeal in the tribunal in case of a loss, given the threshold for the
revenue consideration has been raised to Rs 20 lakh by the government last
year. In a bid to unclog judicial forums of pending tax cases, the government
last year raised the monetary threshold for further appeals in tax cases. The
department can now appeal in tribunal against a CIT(A) order only if the
revenue consideration is above Rs 20 lakh. It was earlier Rs 10 lakh. Appeals
would be filed in high courts if the tax amount involved in litigation is Rs 50
lakh, up from Rs 20 lakh at present. For the Supreme Court, the threshold limit
has been hiked to Rs 1 crore, from Rs 25 lakh at present. Each assessing
officer shall identify the top 20 cases of quality assessments and shall make
proper representation in these cases before CIT(A), the guidelines said. It
further directed formation of a ‘regional and national talent pool’ comprising
of officials having expertise and domain knowledge of specific sector and
trade. The guidelines said officials from the talent pool be selected for
representing the department in high-stake cases at different levels of appeal
and also for rendering all possible assistance and briefing of standing
counsels in such cases.
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GST COMPLIANCE: GOVT PLANS TO GO EASY ON BUSINESSES TILL POLLS
Tax authorities have put
on hold for a few months scrutiny of goods and services tax (GST) compliance by
businesses and traders, despite a gaping hole in revenue receipts this fiscal
year, and an ambitious 18% growth forecast for 2019-20. The authorities will,
however, continue to collect data on transactions from various sources, which
will be useful once enforcement measures are scaled up. The pause on
anti-evasion measures till early July will help the government in several ways
especially to avoid unsettling the business and trading community before the
crucial national polls due in April-May, a government official said, requesting
anonymity. Besides, tax authorities will also have the annual returns, as well
as audit report, for the first year (2017-18) of the tax reform by July. India
would also have completed the two-year transition period of the largest tax
reform since Independence. After the elections, enforcement will be stepped up.
Now a long rope has been given. All data about registered businesses, the
volume of transactions and those who do not file returns are captured by GST
Network (the company that processes tax returns), he added. A scale up of
anti-evasion measures is crucial for the Union government to achieve the over
18% rise in total GST collection projected for FY20 at ₹7.6
trillion. The government lowered its projection for FY19 by a massive ₹1
trillion to ₹6.4 trillion in the interim budget. Another senior official,
who also spoke on the condition of anonymity, sounded more cautious about tax
evasion measures. We no longer speak in terms of ‘enforcement’.
We speak about encouraging compliance. We have reduced tax rates. That itself
will increase compliance. Besides, we have the data available about non-filers.
He added that central and state governments will take steps to increase
compliance. At present, only two-thirds of the 11 million businesses registered
under GST—excluding the 1.7 million entities in the concessional flat tax
scheme—file monthly returns. Officials said a key anti-evasion feature of
GST—matching the invoices of buyers and suppliers—has now been suspended.
Details of goods transported in the e-way bills, invoices of transactions, data
captured by transport authorities and details of turnover declared in income
tax returns filed by businesses will form a comprehensive set of data for the
authorities to crackdown on tax evasion. We know which registered business is
not filing returns and who is short paying taxes When the time is appropriate,
we will hold them accountable, the first official added.
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FIEO SUGGESTS SERIES OF MEASURES TO BOOST EXPORTS
Exporters body FIEO Sunday
suggested a series of measures including outright exemption from GST, interest
subsidy for agri-sector, and more funds for MSME players to boost outbound
shipments. With increasing protectionism in several countries, domestic
exporters need incentives to increase shipments, Federation of Indian Export
Organisations (FIEO) President Ganesh Kumar Gupta said. These support measures,
if provided on time has the potential to take the country's exports to USD 375
billion in 2019-20 and create lakhs of jobs. This fiscal, we will cross USD 325
billion to USD 330 billion, he said on Sunday. On Goods and Services Tax (GST),
he said, it is necessary that an outright exemption window may be provided to exporters
as was in existence before the GST regime to mitigate the liquidity problem.
Though, the government has taken several measures to provide quick GST refunds
to exporters, but due to one reason or the other, substantial GST refunds
remain outstanding for long time causing acute liquidity problem which
adversely affect our exports growth, he said. There is a good potential for
agricultural produce in overseas markets and, for that there is a need to
extend the interest subsidy scheme to the sector, he added. Besides, the FIEO
president sought more funds for improving trade related infrastructure in
states, incentives to promote shipments of value added branded products, steps
to increase trade with neighbouring countries like Nepal and Bangaldesh, and
benefits on sales to foreign tourists. To reduce transaction time and cost
simultaneously increasing competitiveness, there is a need to provide more
facility to the MSME exporters in the forthcoming foreign trade policy
particularly of non-fiscal nature, Gupta said adding exemption from IGST under
advance authorization scheme. Under this scheme, manufacturers are allowed to
import inputs at zero duty but only for the export purposes. During the
April-January period of the current fiscal, exports grew 9.52 per cent to USD
271.8 billion. Several key sectors like gems and jewellery, rice, marine
product, leather, tea, coffee and cashew has recorded negative growth for the
current period.
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GST RATE CUT WILL BE GOOD FOR REAL ESTATE, HOMEBUYERS:
DEVELOPERS
A group of ministers
(GoM), led by Gujarat Deputy CM Nitinbhai Patel, has recently recommended 5%
GST (goods and services tax) for under construction properties and 3% GST for
affordable housing, which has been welcomed by both industry experts as well as
property developers as they believe that this proposal, if implemented, will
give a boost to the real estate sector. It is a known fact that during the last
two years since its implementation, applicability of GST has been one of the
key factors among a whole lot of consideration points in a home buyer’s
decision-making list. Ready-to-move-in apartments, which have received their
occupation certificate, attract no GST. This is a significant difference
vis-à-vis under-construction apartment units or ready projects that are yet to
receive their occupation certificate, which attract a GST of 12%. In the case
of affordable housing units, this difference is to the tune of 8% since the GST
for under construction affordable housing units is at a concessional rate. In
fact, when GST was formalized, it was looked upon as a panacea for all the real
estate tax woes and was expected to provide some impetus to the sector.
Ideally, the 12% GST on under construction projects should be partially offset
by the higher taxes paid on inputs by builders and the effective GST on the
homebuyers should be much lesser. However, most builders are not passing on the
input tax credit to buyers and hence the pain remains, says Divya Seth Maggu. There
are examples of builders, especially in the affordable and low-ticket size
segment, advertising their willingness to absorb the GST as a promotion to
enhance sales. However, those are primarily indirect discounts to the apartment
landed cost. There have been complaints that builders are not passing on the
input tax credit benefit to consumers by way of reduction in price of the
property after the rollout of GST. In a move to combat this, GoM has
recommended a reduction of GST from 12% to 5% for premium housing and to 3%
from 8% for affordable housing. However, the rate cuts are proposed to be
accompanied by denial of input tax credit to builders. While the intention of
the government is to provide relief to the end customer, it is important that
the chain of GST credit is not broken. Builders are hopeful that the input tax
credit would not be taken away since this may result in overall costs going up
for the developer, says Maggu.
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NOT ENOUGH CREDIT, LATE GST REFUNDS A CONCERN FOR EXPORTERS:
INDUSTRY TELLS GOVT
The persistent decline in
bank lending for exporters, delay in refund of input tax credit and the fear of
a withdrawal of duty-free export benefits by the US under the so-called GSP
regime dominated the discussion at a meeting of the Board of Trade on Friday.
Concerns about exports to Iran and the payment mechanism for the Islamic
republic following the US sanctions, and incentives for shipments to
neighbouring nations, too, were deliberated upon in the meeting, chaired by
commerce and industry minister Suresh Prabhu. In a statement, the ministry said
the issues were addressed by senior officials and will be taken up in the
upcoming meeting of the Committee of Exports and the GST Council. Media reports
have suggested that India could lose the so-called generalised system of
preference (GSP) concession, under which it enjoys zero tariffs on $5.6 billion
of exports to the US a year, in the strongest punitive action against New Delhi
under US President Donald Trump. The Federation of Indian Export Organisations
(Fieo) president Ganesh Kumar Gupta said although the recently-announced
interest equalisation benefit has helped MSME manufacturers and merchant
exporters of specified products, the bigger concern is the flow of credit. The
recent data by RBI show a credit decline of over 50% which is bound affect the
flow of exports adversely. The liquidity is further tightened by the GST regime
(which provides for a refund mechanism), as the proposed e-wallet scheme is
nowhere in sight, Gupta said. Gupta said the government should introduce a
scheme for promoting branded exports, enhancing budget for organising trade
fairs and improving infrastructure. Export credit collapsed by 54.8% as of
December 21 from a year before, while the overall priority sector lending rose
8.5% during the period, showed the RBI data.
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BREATHER FOR VADRA, COURT EXTENDS INTERIM PROTECTION FROM
ARREST TILL MAR 2
A Delhi court Saturday extended
the interim bail granted to Robert Vadra till March 2 in a money laundering
case lodged by the Enforcement Directorate (ED) even as the agency claimed that
he was not cooperating in the matter The court also extended the protection
from arrest granted to his close aide and a co-accused in the case, Manoj
Arora, till the next date of hearing i.e. March 2. The ED told the court that
it needed to question Vadra in the case and opposed his anticipatory bail plea,
saying that he was not cooperating in the case. Singh told the court Vadra is
accompanied by a 'baraat' (procession) wherever he goes, whether to the
agency's office or to the court. The lawyer alleged that Vadra was using social
media, including Facebook, for writing about the case and highlighting the
matter. Vadra had filed an anticipatory bail application in the case linked to allegations
of money laundering in the purchase of a London-based property at 12, Bryanston
Square worth GBP 1.9 million. The property is allegedly owned by him.
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VADRA ALLEGES ‘WITCH-HUNT’ AFTER ED ATTACHES ASSETS OF FIRM
LINKED TO HIM
Rahul Gandhi’s
brother-in-law Robert Vadra on Saturday termed witch-hunt the Enforcement
Directorate’s (ED) action of attaching assets of a firm linked to him, and
claimed that it showed complete misuse of assertion of power Mr. Vadra alleged
relentless harassment a day after the Enforcement Directorate (ED) said it has
attached assets worth ₹4.62 crore of a firm linked to him in connection with the
Bikaner land scam money laundering case. I have had nothing to hide and I am
surely not above the law. I have deposed for almost 6 days; ranging from 8 to
12 hours per day with a 40 minute lunch break, and have been escorted to the
washroom, Mr. Vadra said. He said he has completely cooperated and adhered to
the rules whenever called in any part of the country. Attachment of my work
place — my office and areas that are sub judice, shows a complete misuse of
assertion of power a complete vindictive & vicious witch hunt, he alleged.
When truth sustains and prevails, I suppose an apology is all that will
suffice. Will stay determined for justice for me, Mr. Vadra said.
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AIRCEL-MAXIS CASE: PROTECTION FROM ARREST TO CHIDAMBARAM,
KARTI EXTENDED
A Delhi court Monday extended
till March 8 the interim protection from arrest granted to former Union
minister P Chidambaram and his son Karti in the Aircel-Maxis scam cases filed
by the CBI and the ED. The ED told Special Judge O P Saini that Karti
Chidambaram has been asked by the agency to appear before it on March 5, 6, 7
and 12 for questioning in the cases.
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SC REFUSES REOPENING OF STERLITE PLANT IN TUTICORIN; SETS
ASIDE NGT ORDER
The Supreme Court Monday refused
to allow reopening of Vedanta's Sterlite plant in Tuticorin in Tamil Nadu but granted
it liberty to approach the high court A bench headed by Justice R F Nariman
said it is allowing Tamil Nadu's appeal against the National Green Tribunal
(NGT) order only on grounds of maintainability. It said NGT has no jurisdiction
to order reopening of the plant. The court was hearing a plea by Vedanta group
seeking a direction to Tamil Nadu Pollution Control Board to implement the NGT
order which had set aside the government's decision to close the plant. At
least 13 people were killed and several injured on May 22 last year when police
opened fire on people protesting against the environment pollution being caused
by the unit.
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GOVT GAVE CRORES OF RUPEES TO AMBANI & MALLYA, BUT PROMISED
JUST ₹3.50 A DAY TO FARMERS: RAHUL
Rahul Gandhi on Saturday
hit out at the Modi government, saying that while it doled out crores of rupees
to industrialists such as Anil Ambani and Vijay Mallya, it promised just ₹3.50
per day to farmers Lakhs and crores of rupees have been given to the people
like Anil Ambani, Nirav Modi, Mehul Choksi, Vijay Mallya and Lalit Modi, but
farmers will get just ₹3.50 per day, he said, referring to the Centre’s
Pradhan Mantri Kisan Samman Nidhi Scheme, under which farmers cultivating up to
two hectares (five acres) will get direct cash support of ₹6000
annually. When the announcement of ₹6,000 for farmers was made
in the Union Budget, BJP MPs were thumping their desks in Lok Sabha, Mr. Gandhi
said. Is this a joke? he asked. He promised that if the Congress was voted to
power after the 2019 Lok Sabha polls, a minimum income guarantee would be given
to the poor and the money would be deposited directly into their bank accounts.
The poll promises (made by Modi) regarding transfer of ₹15
lakh into everyone’s bank account and providing two crore jobs have not been
implemented, he said.
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PULWAMA ATTACK: RELIANCE FOUNDATION OFFERS TO TAKE
RESPONSIBILITY OF FAMILIES OF SLAIN JAWANS
Reliance Foundation on
Saturday expressed readiness to take on the responsibility of education and
employment of the children of the 40 CRPF personnel who were killed in the
Pulwama terror attack. As a mark of our gratitude to the martyrs, Reliance
Foundation expresses its readiness to assume full responsibility for the
education and employment of their children, and the livelihood of their
families, said the company in a statement. If necessary, our hospital is ready
to provide the best possible treatment to the injured jawans. We shall also
deem it to be our duty to shoulder any other responsibility the government may
place upon us in service to our beloved Armed Forces. The entire Reliance
Parivar fully shares the outrage of 1.3 billion Indians at the barbaric
terrorist attack on a CRPF convoy on the Jammu-Srinagar highway on Thursday, in
which 40 brave jawans were martyred. No evil power in this world can break
India's unity or our resolve to defeat terrorism, which is an enemy of
humanity, said the foundation. Our hearts go out to the bereaved members of the
martyrs' families. The nation will never forget the brave hearts and their
sacrifice. We pray for the recovery of the injured jawans. As citizens, as well
as a Corporate Citizen, we stand fully behind our Armed Forces and our
Government in this hour of national solidarity. Reliance Foundation is the
philanthropic arm of Mukesh Ambani-led Reliance Industries Limited. It
undertakes social initiatives in areas of rural transformation, education,
health, sports for development, disaster response, urban renewal, and arts,
culture, and heritage. The foundation has touched the lives of more than 20
million people across India, in more than 13,500 villages and several urban
locations.
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AGUSTAWESTLAND CASE: DELHI COURT DENIES BAIL TO CHRISTIAN
MICHEL
A Delhi court Saturday dismissed
the bail plea of Christian Michel, arrested in connection with an alleged scam
in the Rs 3,600-crore AgustaWestland VVIP chopper deal. Special judge Arvind
Kumar rejected Michel's plea in the cases filed by the CBI and the Enforcement
Directorate.
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ENSURE SAFETY OF CITIZENS FROM J&K: MHA ISSUES ADVISORY TO
STATES IN AFTERMATH OF PULWAMA ATTACK
In the wake of isolated
reports from some part of the country, that students and citizens from Jammu
and Kashmir are facing the heat after Pulwama attack, MHA has now issued
advisory In the advisory it has said, There have been some reports of students and
other residents of Jammu & Kashmir are experiencing threats &
intimidation in light of #PulwamaAttack. Therefore, MHA issued an advisory to
all states & Union Territories to take necessary measures to ensure their
safety & security.
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INDIA'S OIL IMPORTS FROM IRAN PLUNGED 45% IN JANUARY
India's oil imports from
Iran fell by 45 per cent in January to 270,500 barrels per day oil (bpd), ship
tracking data reviewed by Reuters showed, below the estimated 300,000 bpd for
the month as some cargoes were delayed. The United States introduced sanctions
aimed at crippling Iran's oil revenue-dependent economy in November but gave a
six-month waiver to eight nations, including India, which allowed them to
import some Iranian oil. India is restricted to buying 1.25 million tonnes per
month, some 300,000 bpd. January imports from Iran were 10.4 per cent lower
than December, the tanker arrival data showed. Iran was the seventh biggest oil
supplier to India in January compared with sixth in December, and slipped from
third position it held a year ago. In the first 10 months of this fisal year
that began in April, India's oil imports from Iran rose by 14.5 per cent to
507,000 bpd as refiners boosted purchases ahead of the US sanctions drawn by
discounts offered by Tehran, the data showed. India's total oil imports in
January were about 4.6 million bpd, a decline of about 10.4 per cent from a
year earlier, the data showed.
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PAKISTAN CLAIMS TO FULFILLING SANCTIONS OBLIGATIONS AGAINST
JAISH-E-MOHAMMAD
Pakistan on Sunday said
that Jaish-e-Mohammad, which claimed responsibility for the Pulwama terror
attack, was banned in 2002 and Islamabad was fulfilling its obligations on
sanctions as per the law. In a major diplomatic offensive against Islamabad
after the attack, India has highlighted Pakistan's role in using terrorism as
an instrument of state policy. India has slammed Pakistan for stating that it
had no role in the Pulwama attack carried out by Pakistan-based terror group
JeM, saying Islamabad could not claim that it was unaware of the presence of
terror groups on its soil as the links of such outfits to the country were
there for everyone to see. Pakistani ministers had shared the same podium with
UN-proscribed terrorists, Kumar said. Kumar said India demands that Pakistan
should take immediate and verifiable action against terrorists and terror
groups operating from territories under its control to create a conducive
atmosphere in the region, free of terror. But Foreign Office spokesperson
Mohammad Faisal rejected India's allegation that Pakistan was behind the
attack. Faisal said Pakistan rejected India's allegations because these were
made within a short time from the attack and without carrying out any
investigations. He said India needed to introspect and respond to questions
about its security and intelligence lapses that led to this attack. India owes
an explanation on reports of Adil Ahmed Dar's arrest and custody since 2017.
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PULWAMA ATTACK MASTERMIND ABDUL RASHEED GHAZI KILLED BY
SECURITY FORCES IN KASHMIR
In a big breakthrough,
security forces on Monday gunned down top Jaish-e-Mohammed (JeM) commander
Abdul Rasheed Ghazi alias Kamran, in a 12-hour-long encounter with multiple JeM
terrorists in Pulwama area. Ghazi was a Pakistani national and the brain behind
the Pulwama attack. In fact, Ghazi had a narrow escape during an encounter
which took place days before the vehicle-borne IED attack on CRPF convoy last
Thursday. A local terrorist was killed and a soldier was martyred in that
encounter. Ghazi, who was an Afghan war veteran and an IED specialist, was the
one who trained Adil Dar, the terrorist from Pulwama who drove the explosive
laden vehicle into the CRPF convoy.
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PAKISTAN CALLS BACK INDIA ENVOY FOR 'CONSULTATIONS'
Pakistan has called back
its High Commissioner from India for consultations amid heightened bilateral
tensions after the Pulwama terror attack, officials here said Monday. Pakistan
High Commissioner to India Sohail Mahmood was on Friday summoned in New Delhi
by Foreign Secretary Vijay Gokhale who lodged strong protest over the killing
of 40 CRPF soldiers in Pulwama. Indian High Commissioner to Pakistan Ajay
Bisaria was also called to New Delhi for consultations in the wake of the
attack. India has blamed Pakistan-backed Jaish-e-Mohammad terror group for the
Pulwama terror attack on Thursday.
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SC REFUSES PIL SEEKING COURT-MONITORED PROBE INTO AIRCRAFT
CRASHES OF INDIAN ARMED FORCES
The Supreme Court Monday refused
to entertain a PIL seeking court-monitored investigation into incidents of fighter
plane crashes including the recent crash of Mirage-2000 trainer aircraft near
Bengaluru in which two Indian Air Force (IAF) pilots were killed. A bench
comprising Chief Justice Ranjan Gogoi and Justice Sanjiv Khanna said there cannot
be a judicial inquiry into such mishappenings The Supreme Court cannot
undertake judicial enquiry into mishappenings involving fighter jets, the bench
said. From which generation, this Mirage aircraft belongs, the bench asked
petitioner lawyer Alakh Alok Srivastava. The bench then dismissed the PIL
saying, We are not inclined to entertain this petition.
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INDIA WILL LOBBY TO PUT PAKISTAN ON FATF BLACKLIST AT PARIS
MEET
India will push to
blacklist Pakistan over terrorism funding at the Financial Action Task Force
(FATF) plenary meeting, following the attack in Pulwama last week, as part of a
number of economic punitive measures it’s taking against the neighbouring
country. Pakistan is currently on the FATF grey list. The meet is taking place
on February 17-22 in Paris. The Pakistan-based Jaish-e-Mohammad (JeM) claimed
responsiblity for the attack that killed more than 40 CRPF jawans. Being put on
the black list will further hit Pakistan’s struggling economy. Pakistan was
placed on the FATF grey list in June 2018 and put on notice to be blacklisted
by October 2019 if it did not curb money laundering and terror financing. The
FATF meet will review the measures taken by Pakistan in this regard, said
people with knowledge of the matter. India will also impress upon the European
Commission the need to act on its proposal to blacklist Pakistan. The
commission typically does that to countries on the FATF grey list. Meanwhile,
Delhi received widespread support on the issue of Pakistan’s role in
cross-border terror attacks on Indian soil, including the Pulwama strike, at
the Munich Security Conference (MSC) and in various meetings on the sidelines
of the key annual conclave in the German city.
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PUBLIC SENTIMENT AGAINST PAKISTAN MAY CURB SMUGGLING
India doesn’t expect a significant
rise in smuggling of goods from Pakistan that could undermine the recently
imposed high customs duty on imports coming from its neighbour. We don’t expect
much smuggling because hostility has increased, and public and military
sentiment is against any engagement, said an official. On Saturday, New Delhi
hiked the customs duty on all goods imported from Pakistan or originating from
there, to 200% with immediate effect, a day after it revoked the most favoured
nation (MFN) status that it had given its neighbour in 1996, post the Pulwama
terrorist attack that killed about 40 Central Reserve Police Force personnel.
India’s major imports from Pakistan are fruits and nuts, gypsum, sulphur,
finished leather, ores, mineral oils and cement. While cement is likely to
become expensive because of the hike in customs duty to 200%, the increase in
prices is not expected to be large. They are cement surplus and we expect the
cumulative impact to be Rs 10-20 per bag only, the official added. India’s
imports from Pakistan were $381 million in the April-November period compared
with $489 million in the entire FY18. The unfavourable sentiment is also likely
to impact illicit trade of fresh fruit, which happens at the Kashmir border.
There is no smuggling at Attari-Wagah border but Chinese apples, which are
banned in India, make their way into the country from Muzaffarabad, the
official said. Bananas from India too are sent to its neighbour from this
route. Higher duties may encourage smuggling of products which are in demand or
goods could be routed through Dubai with separate rules of origin, but they
will not remain viable, said an expert on trade issues. Of the $2.6-billion
bilateral trade, which is tilted towards India, almost $1 billion takes place
through the Attari-Wagah border. As for exports from India, Pakistan has not
been importing onions and tomatoes for more than a year and has not issued
import permits for the same. Our plan to increase exports to our neighbouring
countries to boost overall shipments would get impacted because the general
downfall in agri commodity exports will continue, the official added.
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SUPREME COURT REFUSES TO ENTERTAIN PLEA CHALLENGING CENTRE'S
CIRCULAR AGAINST USE OF TERM 'DALIT'
The Supreme Court Monday refused
to entertain a petition challenging Centre's notification advising the media to
not use the term Dalit to describe members of Scheduled Castes. A bench headed
by Chief Justice of India Ranjan Gogoi and Justice Sanjiv Khanna said it was
not interested in entertaining a petition that challenged the 2018 advisory of
the Information and Broadcasting Ministry asking private satellite television
channels to use Scheduled Caste instead of Dalit. Senior advocate Kapil Sibal,
appearing for petitioner V A Ramesh Nathan, questioned the legality of the
circular and said, How can the Government of India issue such a circular
questioning my identity. The bench remained unimpressed and said, At this
stage, we are not interested in entertaining this petition. Dismissed.
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PAKISTAN HAS NO OFFICIAL INFO ABOUT INDIA WITHDRAWING MFN
STATUS: TOP TRADE OFFICIAL
India has not informed
Pakistan that it was withdrawing the Most Favoured Nation (MFN) status to it, a
senior Pakistani official said Sunday, after New Delhi took strong economic
action against Islamabad following the Pulwama terror attack. India on Friday
announced the withdrawal of the MFN status for Pakistan, following the deadly
terror attack on CRPF personnel in Pulwama in Jammu and Kashmir, and hiked the
customs duty by 200 per cent on goods originating from Pakistan with immediate
effect on Saturday. Two days after India made the announcement, Adviser to
Prime Minister Imran Khan on Commerce Abdul Razak Dawood said New Delhi has not
informed Islamabad about withdrawing Pakistan's MFN status, Geo News reported.
Dawood said, We are looking into the withdrawal of the MFN status by India. We
can speak to India about this issue. He further said Pakistan can raise this
issue at different forums including the World Trade Organisation (WTO) as both
countries are members of the global trade body.
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PREMIUM PROCESSING OF H1B VISA PETITIONS MILD RESPITE TO
INDIAN IT FIRMS
The US Citizenship and
Immigration Services (USCIS) said it would resume premium processing of all H1B
visa petitions filed on or before December 21, 2018, on Tuesday. However, this
will bring a mild respite to Indian technology firms already grappling with a
shortage of talent in the US, its largest market. Premium processing of H1B
visas is like the tatkaal scheme, which allows processing of applications
within 15 calendar days for an additional fee of $1,410 per application, apart
from the base fee. This allows employers a faster route to get skilled talent
in the US, and the Indian information technology (IT) industry has been a
long-standing beneficiary of this programme. The US administration, under
President Donald Trump, has made significant changes to the H1B visa system,
including reversing the order in which the USCIS selects H1B petitions. This is
likely to result in an increase in the number of petitions from applicants with
a master's or a higher degree from a US institution of higher education. The
immigration agency had suspended premium processing last April, citing a
long-pending backlog. But, it was open for certain categories such as extension
of H1B visa with the same employer. The time taken to process a premium H1B
application rose from 18 days in the last four years to 1 month in FY19 (until
October 2018). The time taken to process a normal H-1B application also rose
from 3.2 months in FY2018 to 5.2 months in FY2019.
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WITH 25,000 PROMISED JOBS, AMAZON'S EXIT FROM NYC MAY SCARE
OFF TECH FIRMS
Amazon jilted New York
City on Valentine’s Day, scrapping plans to build a massive headquarters campus
in Queens amid fierce opposition from politicians angry about nearly $3 billion
in tax breaks and the company's anti-union stance. With millions of jobs and a
bustling economy, New York can withstand the blow, but experts say the decision
by the e-commerce giant to walk away and take with it 25,000 promised jobs
could scare off other companies considering moving to or expanding in the city,
which wants to be seen as the Silicon Valley of the East Coast. One of the real
risks here is the message we send to companies that want to come to New York
and expand to New York, said Julie Samuels, the executive director of industry
group Tech: NYC. We’re really playing with fire right now. In November, Amazon
selected New York City and Crystal City, Virginia, as the winners of a
secretive, yearlong process in which more than 230 North American cities bid to
become the home of the Seattle-based company’s second headquarters. New York
Mayor Bill de Blasio and Gov. Andrew Cuomo heralded the city's selection at the
time as the biggest boon yet to its burgeoning tech economy and underscored
that the deal would generate billions of dollars for improving transit, schools
and housing.
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INDIA ADVISES REFINER TO AVOID US SYSTEM FOR BUYING VENEZUELAN
OIL
India has asked one buyer
of Venezuelan oil to consider paying the South American nation’s national oil
company PDVSA in a way that avoids the US financial system an Indian government
source said, after Washington imposed fresh sanctions on Venezuela last month. The
United States is seeking to cut off Venezuela’s oil revenue and pressurise the
nation’s President Nicolas Maduro to step down after it recognised opposition
leader Juan Guaido as head of state. The sanctions mean that if oil buyers pay
PDVSA through the US banking system, the funds could be seized by US
authorities. There may also be problems for transactions by banks that have a
heavy US presence even if they aren’t in US dollars and don’t go through the
US. The Indian buyer expressed concern that there could be a problem in
payments to PDVSA, so we have advised them to move away from the US banking and
institutional mechanism, said the source, who did not wish to be identified due
to the sensitivity of the matter. Most Western countries have recognised Guaido
as Venezuela’s interim head of state, but Maduro retains the backing of Russia
and China as well as control of state institutions including the military. India’s
Foreign Ministry on Thursday said the country was monitoring the evolving
situation in Venezuela. We are of the view that it is for the people of
Venezuela to find a political solution, to resolve the political differences
through constructive dialogue and discussion without resorting to violence,
ministry spokesman Raveesh Kumar said.
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U.S. ASKS PAKISTAN TO FREEZE FUNDS OF DESIGNATED TERROR
GROUPS, SUPPORTS ACTIONS AGAINST JEM
The U.S. on Friday asked
Pakistan to freeze without delay the funds and other financial assets of the
UNSC-designated terrorist networks and their leaders. It also said it fully
supports actions to prevent the outlawed Jaish-e-Mohammed from conducting
future attacks. A State Department spokesperson told PTI, Pakistan outlawed
Jaish-e-Mohammed in 2002. However, the group still operates in Pakistan. The US
designated JeM as a foreign terrorist organization in December 2001, and we
fully support actions to prevent them from conducting future attacks. We expect
Pakistan to uphold its responsibilities pursuant to UN Security Council
resolutions to deny safe haven and support for terrorists and to freeze without
delay the funds and other financial assets or economic resources of individuals
and entities on the UNSC 1267 sanctions list, the spokesperson said in response
to a question.
#For Source of Information copy and paste the heading in google.
Thanks & Regards,
CS Meetesh Shiroya
Thanks & Regards,
CS Meetesh Shiroya
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