NO GST REFUNDS FOR FOREIGNERS AS OF NOW: FINANCE MINISTRY
Foreigners coming to India
may not get GST refunds on goods purchased and carried back by them as the
government has not invoked relevant provisions of the Integrated Goods and
Services Tax Act yet, the Finance Ministry has said in reply to an RTI query.
It was asked to provide details on procedures for foreigners to get GST refunds
on goods purchased by them in India. Some western nations provide refunds of
certain taxes on goods purchased by foreigners there. Please note that Section
15 of the IGST (Integrated Goods and Services Tax) has not yet been enforced
Therefore the reply of this office is nil information currently, the Central
Board of Indirect Taxes and Customs (CBIC) said in reply to the Right to
Information (RTI) application filed by this PTI correspondent. According to the
section, integrated tax paid by a tourist leaving India on any supply of goods
taken out of India by him shall be refunded in such manner and subject to such
conditions and safeguards as may be prescribed. For the purposes of this
section, the term ‘tourist’ means a person not normally resident in India, who
enters India for a stay of not more than six months for legitimate
non-immigrant purposes, the Act says.
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REDUCE GST RATE ON LPG CONVERSION KITS TO 5 PER CENT: AUTO LPG
INDUSTRY
India’s Auto LPG industry
has sought a reduction in the goods and services tax (GST) rates on LPG
conversion kits for automobiles from the current 28 per cent to five per cent
to boost vehicle conversions to the environment-friendly fuel. Indian Auto LPG
Coalition, the apex industry body for auto LPG in India, said that high GST
rates were hampering conversion to LPG, which is much cleaner transport fuel as
compared to petrol. In a statement, the association said putting an efficient
and non-polluting fuel under the highest GST slab is counter-productive to the
government’s focus on cleaning India’s urban air quality. The high GST rates
are proving detrimental to the conversion industry and hampering the growth of
the clean and environment-friendly transport fuel. Even as we work on making
electric vehicles a reality on Indian roads in the long term, we must not
ignore more readily available options and lose sight of more easily do things
to fight environmental pollution. Encouraging auto LPG conversion is one of the
most viable and easy solutions to our air quality concerns in the short term,
Gupta said. Auto LPG emits almost negligible particulate matter than either
diesel or petrol vehicles; 96 per cent lesser nitrogen dioxides (NOx) than
diesel; 68 per cent lesser NOx than petrol. NOx is hugely responsible for respiratory
ailments among urban dwellers. Auto LPG also emits about 22 per cent lower
carbon dioxide (CO2) than petrol which is comparable to the CO2 emissions of
CNG.
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INDIA-US TRADE ISSUES
United States of America today
has given a 60-day withdrawal notice to India on the Generalized System of
Preferences (GSP) benefits extended by US. Since the review initiated by the US
in April 2018 on India's GSP benefits, India and US have been discussing
various trade issues of bilateral interest for a suitable resolution on
mutually acceptable terms. GSP benefits are envisaged to be non-reciprocal and
non-discriminatory benefits extended by developed countries to developing
countries. In India's case the GSP concessions extended by the US amounted to
duty reduction of only USD 190 million per annum. The US had initiated the
review on the basis of representations by the US medical devices and dairy
industries, but subsequently included numerous other issues on a self-initiated
basis. These included issues related to market access for various agriculture
and animal husbandry products, relaxation / easing of procedures related to
issues like telecom testing / conformity assessment and tariff reduction on ICT
products. The Department of Commerce engaged with various Government of India
departments concerned with these issues, and India was able to offer a very
meaningful way forward on almost all the US requests. In a few instances,
specific US requests were not found reasonable and doable at this time by the
departments concerned, in light of public welfare concerns reflective of
India's developing country status and its national interest. India was ready to
address US concerns regarding medical devices in principle, by putting in place
a suitable trade margin approach in a reasonable time frame to balance concerns
about fair pricing for the consumers and adequate remuneration for the
suppliers. On the issue of dairy market access, India has clarified that while
our certification requirement, that the source animal had never been fed animal
derived blood meal,is non-negotiable given the cultural and religious
sentiment, the requested simplified dairy certification procedure, without
diluting this requirement, could be considered. Acceptability of US market
access requests related to products like alfalfa hay, cherries and pork was
conveyed. On reduction of our IT duties, India's duties are moderate and not
import stopping. Any MFN duty reduction would almost entirely benefit third
countries. Accordingly, India conveyed willingness to extend duty concessions
on specific items in which there is a clear US interest. On telecom testing,
India was willing to consider discussions for a Mutual Recognition Agreement. Due
to various initiatives resulting in enhanced purchase of US goods like oil and
natural gas and coal the US trade deficit with India has substantially reduced
in calendar years 2017 and 2018. The reduction is estimated to be over USD 4
Billion in 2018, with further reduction expected in future years on account of
factors like the growing demand for energy and civilian aircrafts in India.
This reduction has happened in the face of a rising overall US trade deficit,
including with some other major economies. India is also a thriving market for
US services and e-commerce companies like Amazon, Uber, Google and Facebook
with billions of dollars of revenue. The issue of Indian tariffs being high has
been raised from time to time. It is pertinent that India’s tariffs are within
its bound rates under WTO commitments, and are on the average well below these
bound rates. India’s trade weighted average tariffs are 7.6%, which is
comparable with the most open developing economies, and some developed
economies. On developmental considerations there may be a few tariff peaks,
which is true for almost all economies. India was agreeable to a very
meaningful mutually acceptable package on the above lines to be agreed to at
this time, while keeping remaining issues under discussion in the future.
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TRUMP'S TRADE ACTION ON INDIA TO HIT FARM, MARINE EXPORTS THE
MOST: FIEO
India's exports of farm,
marine and handicraft products to the United States could be hit by US plans to
end a preferential trade treatment to the country in the next two months, an
official at India's main exporters' body said on Tuesday. We fear that our
labour-intensive exports of agriculture, marine and handicraft products to the
US would be hit hard, Ajay Sahai, told.
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ED INVESTIGATING AT LEAST 6 HIGH-VALUE LOANS IN ICICI
BANK-VIDEOCON CASE
The Enforcement
Directorate (ED) is probing at least six high-value loans sanctioned to firms
between 2009 and 2011 when Chanda Kochhar was the chief executive officer and
managing director at ICICI Bank. The probe agency suspects there have been kickbacks
or illegal gratification for extending these loans The enforcement agency,
interrogating Kochhar for the fourth consecutive day on Monday, said she had
been cooperating in the investigation. However, she was not clear about certain
transactions, it said. Also, she maintained she was not aware about the nuances
of the business deals involving her husband Deepak Kochhar’s firms. Some of
these accounts which are under agency’s lens include $530 million
(approximately Rs 3,763 crore) to Essar Steel Minnesota LLC, Millennium
Appliances (Rs 175 crore), Sky Appliances (Rs 240 crore) Techno Electronics
(Rs 110 crore), Applicomp India (Rs 300 crore) and Videocon Industries (Rs
750 crore). The agency’s said to have crucial evidence indicating a complex
money trail involving some front entities and multiple transactions. It has
raised question around the timings of the investments in Deepak’s firm and the
loan disbursement. The investment and the loan disbursal happened in the same
year, said an official in the know. Meanwhile, the ED would soon seek judicial
assistance through letter rogatory (LR) from its foreign counterparts in
Mauritius and Singapore to gather information about certain transaction between
Deepak Kochhar’s firms and Matix group and the probable links with some of the
Essar group companies.
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CHANDA KOCHHAR QUIZZED BY ENFORCEMENT DIRECTORATE FOR OVER 8
HRS ON FOURTH DAY
Enforcement Directorate
(ED) on Monday quizzed former ICICI Bank chair Chanda Kochhar for over eight
hours, on the fourth consecutive day of questioning. The agency also questioned
Matrix Group chairman Nishant Kanodia for the second time. The Matrix Group and
its holding entity, Firstland Holdings, are based in Mauritius. Kanodia is the
son-inlaw of Ravi Ruia, vice chairman of the Essar Group. Both companies are
accu- sed of being used for round tripping investments into NuPower Renewables,
owned by Chanda and her husband Deepak Kochhar, by a whistle blower. The
central agency is probing dealings of NuPower with Videocon as well as the
Matrix Group. Chanda has not been cooperating in the investigation We have
quizzed her on the loans granted to the two entities and their group companies
by ICICI but she insists that the decision was taken by the sanctioning
committee. When quizzed on the money infused by various companies linked to the
two groups in her husband’s account, she says she wasn’t aware of the dealing
of her husband’s companies. The probe is focused on unearthing of quid pro quo
favours and the subsequent laundering of the alleged kickback received in the
guise of loans. We are trying to unearth how loans given to NuPower were
actually kickbacks received in lieu of the loans sanctioned by the bank (ICICI)
when Chanda Kochhar was at the helm and were used to create private assets by
the accused couple, added the above mentioned official.
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EXPORTS LIKELY TO BE HIT AS US MOVES TO END MAJOR TRADE
BENEFITS TO INDIA
Ending months of
speculation, the Donald Trump administration has decided to cut benefits to
Indian exporters under its Generalized System of Preferences (GSP) scheme. At
the direction of President Donald J Trump, US Trade Representative Robert
Lighthizer announced today that the United States intends to terminate India's
and Turkey's designations as beneficiary developing countries under the GSP
program because they no longer comply with the statutory eligibility criteria,
the United States Trade Representatives office announced late on Monday. India,
having exported goods worth $5.6 billion to the US in 2017-18 under GSP, is the
largest beneficiary of the scheme. The GSP is the largest and oldest US trade
preference programme designed to promote economic development by allowing
duty-free entry for thousands of products, mostly from developing nations. While
Turkey was also been removed from the GSP list on Monday, the USTR came down
particularly hard on India. India has implemented a wide array of trade
barriers that create serious negative effects on United States commerce, it
said. Back in November last year, the US President had signed an executive
order to end the duty-free status of 50 Indian exports to the US. These
included inorganic and organic chemicals, agricultural products like cucumbers
and gherkin, and certain types of animal hide. These were part of a global list
of 90 items — from a large group of nations including Brazil, Argentina,
Thailand, Egypt and Ecuador — for which prevailing rates of import tariff were
to be be levied when imported into the US.
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ICC WELCOME TO TAKE GLOBAL EVENTS OUT OF INDIA: BCCI OFFICIAL
ON TAX ISSUE
The Board of Control for
Cricket in India (BCCI) in the recent ICC quarterly meeting was told by the
world body to get tax exemption for conducting future global events like the
2021 T20 World Cup and 2023 ODI World Cup. If BCCI fails to get the exemption
it will have to bear the tax liability in hosting the showpiece events. But the
move has not gone down well with certain sections within the board. BCCI
official said that the ICC was free to move the tournament out of India if it
felt that was the way forward as matters related to tax needed the government's
approval and external pressure would not help. We will abide by what the Tax
Department and the Ministry decides on this. We would love for the World Cup to
take place here, but if the ICC wants to play hard ball, they must be ready for
everything. If they want to take the ICC tournament out of India, it's fine.
Let BCCI then take the revenue out of the ICC and see who loses more. There is
no way that the BCCI should agree to this. The ICC cannot on the one hand say
that they aim to have an inclusive approach and on the other hand look at every
possible opportunity to hurt India's interest, the official signed off.
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PENALTY FOR DELAYED FILING OF GSTR 3B RETURNS
As per Circular No
76/50/2018 GST Dated 31st December 2018 CBIC has clarified that
1. As per the provisions
of section 73(11) of the CGST Act, penalty is payable in case self-assessed tax
or any amount collected as tax has not been paid within a period of thirty days
from the due date of payment of such tax.
2. It may be noted that a show
cause notice (SCN for short) is required to be issued to a person where it
appears to the proper officer that any tax has not been paid or short paid or
erroneously refunded or where input tax credit has been wrongly availed or
utilised for any reason under the provisions of section 73(1) of the CGST Act.
The provisions of section 73(11) of the CGST Act can be invoked only when the
provisions of section 73 are invoked.
3. The provisions of
section 73 of the CGST Act are generally not invoked in case of delayed filing
of the return in FORM GSTR-3B because tax along with applicable interest has
already been paid but after the due date for payment of such tax.
It is accordingly
clarified that penalty under the provisions of section 73(11) of the CGST Act
is not payable in such cases. It is further clarified that since the tax has
been paid late in contravention of the provisions of the CGST Act, a general
penalty under section 125 of the CGST Act may be imposed after following the
due process of law.
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‘WE HOPE TO ACHIEVE THE REVISED GST REVENUE ESTIMATE’
The hit suffered by the
exchequer following the income tax rebate announced for individuals with
incomes of up to ₹5 lakh will be more than offset by the overall growth in
direct tax collections, Ajay Bhushan Pandey says. On the indirect tax side, he
says that the government expects to at least achieve its revised estimate for
GST revenue which is lower than what has been initially budgeted for the year.
Can you estimate by how much Goods and Services Tax (GST) revenue for the year
will fall short of what is needed? We have done a realistic assessment of how
much revenue we are going to get in this year and accordingly we have revised
our budgetary estimates for the current year. In the case of the GST, we have
brought down our revised estimates to a lower value as compared to what we had
given in our budgetary estimate. The reason is that during the 1.5 years of
GST, we had done lots of adjustments in terms of process as well as rates. The
rates have been brought down on many items. The financial implication of the rate
reduction is about ₹90,000 crore a year Based on all these, accordingly for the
current year, we have brought down our revenue estimates. And that much we hope
to achieve.
Have you been able to
estimate the impact on revenues following the I-T rebate given to those earning
up to ₹5 lakh a year? We have given a full income tax rebate to those
whose total taxable income is less than ₹5 lakh a year. This is
basically to provide relief to the people who are in the middle class and
particularly those who are earning even in that class. The total benefit that
we are going to provide to this class is about ₹18,500 crore in a year, so
that is the likely impact on our revenues. Can the government afford this the
when GST revenue has already been revised downwards? If you see our direct tax
revenue, there we have increased the revised estimate by ₹50,000
crore And this, despite the reduction in tax rates. Companies are asking for
corporate tax rates to be reduced to 25%. We have a policy, which we had
announced in 2015, that the rates of the income tax for the corporates would be
brought down to 25% and it has been, over the years, brought down to that
level. About 99% of the companies are being taxed at a rate of 25%. Only 1% of
the companies are in the range of 30%. Now, we will have to watch for the
revenue trend and then the appropriate decision will be taken in due course. As
far as the remaining tax proposals are concerned, they will be considered by
the government when the full Budget is presented in July. Is the GST 2.0 system
of invoice matching still on track to begin from April 1, 2019? The GST Council
has already taken a decision that the new return system will come from July 1
The new return system will be a very simplified system. Earlier, we had a
system of GSTR 1, GSTR 2, and GSTR 3. Now, in place of that, there will be only
one return. The system will be such that it will require minimum information
from the taxpayers so that the compliance burden will be less. At the same
time, it will also incentivise self-compliance because the entire design of the
GST system is such that it promotes self-compliance rather than someone going
and doing inspections and forcing compliance.
What additional
information will this new return filing system give? If you see the design of
the new return system, first of all what we have done is that the monthly
returns will be applicable to only those who are having a turnover of more than
₹5 crore The smaller taxpayers will be given relief. People
with a turnover of between ₹1.5-5 crore will file only on a quarterly basis. These are
some of the advantages we have given. Only the minimal information, which is
required for the system to determine the compliance, has been taken and this
was done in consultation with the States and stakeholders.
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FISCAL DEFICIT OF 19 STATES WORST IN PAST EIGHT YEARS;
INDIRECT TAXES HIT REVENUE COLLECTION
Aggregate fiscal deficit
of 19 states amounted to 25.9% of the budget estimate (BE) in Q3FY19, almost
double the average of 13.2% during the last five years. Consequently, fiscal
deficit touched 62.5% of BE during 9MFY19—the worst in at least the past eight
years. Higher deficit was a result of weak tax receipts and higher spending
Total spending grew by a healthy 14.5% y-o-y in 9MFY19, led by strong growth of
23.1% in capital spending. However, growth in total receipts of 19 states
lagged at 12.9% y-o-y during 9MFY19. A combined analysis of the Centre and 19
states (general government) reveals that total receipts of the general
government were weak in 9MFY19, as tax growth (at just 8.6%) was the weakest in
seven years. Indirect taxes (incl. GST) were the key culprit, rising by a
meagre 5.8% y-o-y in 9MFY19, as against an average growth of 16.1% in the last
three years. General government spending rose by 11% y-o-y in 9MFY19 – faster
than the growth seen in receipts. As a result, fiscal deficit of the general
government amounted to 91.7% of BE – the worst in at least eight years.
Indirect tax collections
in Q4 have amounted to 44% of the collections seen during the first nine months
of the fiscal during the last three years. Assuming a similar ratio for Q4FY19,
we estimate that indirect taxes are likely to fall short of the BE by as much
as 2.1 trn in FY19. The Centre has projected revised estimates for FY19 to fall
short of the BE by 730 bn. Taking this into account, the shortfall in indirect
taxes is expected to amount to 1.4 trn in FY19. We have assessed the aggregate
fiscal positions of the 19 state governments that have published their fiscal
data up to Dec’18. These 19 states account for 90% of the aggregate state
budgets. The aggregate fiscal deficit of 19 states amounted to 25.9% of the BE
in Q3FY19, as against an average of 13.2% in Q3 over the last five years.
Consequently, during 9MFY19, aggregate fiscal deficit of the 19 states touched
62.5% of BE (v/s an average of 44.3% across last five years)—the worst in at
least the past eight years. The Centre’s fiscal deficit, at 112.4% of BE, was
also the highest in at least 19 years. The aggregate fiscal deficit number of
19 states during 9MFY19 masks the substantial differences in the fiscal deficit
of individual states. Bihar’s fiscal deficit was 5.5x the full-year BE during
9MFY19, while Kerala, Rajasthan and Madhya Pradesh almost breached their
full-year targets during the period. On the other hand, the fiscal position of
Uttar Pradesh, Karnataka, Jammu & Kashmir, Jharkhand and Himachal Pradesh
remained quite comfortable. The largest Indian state—Maharashtra ran a fiscal
surplus amounting to 25% of BE in 9MFY19.
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EXPLAINED: WHY NO INPUT TAX MAY WIDEN SCOPE OF BLACK MONEY IN
REAL ESTATE
The government's decision
to do away with input tax credit (ITC) for Goods and Services Tax (GST) levied
on housing could increase the scope of using black money in the real estate
sector. However, experts have different views on the extent of the impact, as
the government is working on mitigating such risks. In the absence of ITC, the
trail of invoicing will not be available. This may have opened up the scope of
employing black money in the sector again, says Pankaj Kapoor. Real estate
contributed about 6-7 per cent to India's gross domestic product (GDP) in 2017.
According to a 2018 KPMG report, the sector is expected to contribute about 13
per cent to the GDP by 2025 and the industry is seen becoming the third largest
globally at around $1 trillion by 2030. The sector was worth $120 billion in
2017. Under GST, builders had an incentive to file invoices for the purchase of
construction materials and inputs to claim ITC and their complete transaction
trail could be monitored as a result, he explains. These inter-linkages,
according to him, ensured that the builder's cash flow and work flow were
transparent. Employing black money in the sector had become difficult and any
under-invoicing on the part of the builder could be uncovered, he adds. By setting
in place this data-driven system where everything is measurable, GST would have
weaned real estate off of black money over time, says Kapoor. Further,
according to him, it had also become difficult for builders to accept black
money from buyers. With the absence of ITC some builders might find that the
incentive to file invoices has reduced. Instead, there could be an incentive to
buy construction material or land in cash. This would be cheaper for builders
as they can escape paying GST on these inputs. In turn, this opens a window for
the deployment of black money to make the said purchases. As input tax credit
is removed, some unscrupulous developers may resort to cash payments for items
with high GST and replace them with invoices for lower GST or zero-GST items.
Invoice matching and input tax credit was an effective way to cull this
practice. But with this change, risk increases of misreporting GST, explains
Ankur Dhawan.
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NEW GST RULES TO BOOST TAX PAYMENTS IN CASH
A new rule on businesses adjusting
their final GST liability against credit for taxes already paid on raw
materials and services is pushing up their tax payments made in cash, experts
say. The amendments prescribe the order in which credits for past payment of
various components of GST can be adjusted against the tax liability on the
final output of a business. The new norms restrict using credits for central
and state components of GST (CGST and SGST) unless credits for taxes paid on
inter-state transactions are fully used GST involves two equal components on
any transaction—Central and state GST—that go to the respective governments.
Inter-state supplies attract integrated GST (IGST), which is eventually
apportioned between the union and state governments. According to the new
norms, credit for IGST has to be exhausted before using credit for central or
state GST paid in the past for meeting CGST and SGST liability, respectively. This,
in many cases, leads to a situation where the more flexible IGST credit is used
up for paying CGST liability fully, forcing businesses to pay at least part of
SGST liability in cash. It takes away the flexibility in utilization of tax
credits Unlike credits for IGST, the same for CGST and SGST can’t be cross-utilised.
This results in tax payment in cash while tax credits remain on the books of
the company.
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GST CUT, RERA HAVE MADE REALTY BUYER'S MARKET BUT WAIT TILL
APR 1 TO BUY
The government has made buying
homes easier by slashing the Goods and Services Tax (GST) tax on
under-construction properties. Rates have been cut from 8% to 1% for affordable
homes and from 12% to 5% for regular units. Moreover, the size of what
constitutes an affordable home has been too been revised. A 60 sq. mt unit in a
metro and 90 sq. mt home in a non-metro, valued at up to Rs 45 lakh, will now
fall under affordable housing. The government, however, has also eliminated
input tax credit (ITC) benefit to builders, which the builders were required to
pass on to buyers. Elimination of ITC could impact the base prices of
properties. In the affordable segment, sellers may marginally increase the
product prices to partially compensate for their loss due to loss of input tax
credit, says Shveta Jain. Prices could rise in the mid-range and luxury
projects. However, competition may force some developers to keep a lid on
prices, even at the cost of reduced margins. To ensure that standing stock and
under construction units get sold, builders may be forced to maintain their
current prices, says Girish Shah. Elimination of input tax credit could reduce
ambiguity for buyers This is a notional benefit at best and depends entirely on
whether the builder passes it on to buyers. It is a fairly big amount for the
largest segment of potential homebuyers and ignorance about the exact
transmission mechanism and timeline is not helpful, says Anuj Puri. So, reduced
GST without ITC could work in the favour of buyers.
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GOVERNMENT TO GIVE CASUALTY FIGURE IN AIRSTRIKE: IAF CHIEF
IAF chief Air Chief
Marshal BS Dhanoa said Monday that the death toll depends on the number of
people present in target and the IAF doesn't count number of dead and the
casualty figure in air strike on Balakot camp will be given by government,
referring to the air strike on February 26, 2019. Commenting on the aerial
dogfight between India and Pakistan, the Air Chief Marshal said that the MiG-21
used against the F-16 is an upgraded aircraft with advanced weapons system. The
MiG-21 Bison is a capable aircraft, it has been upgraded, it has better radar,
air-to air missiles and better weapons system. When the adversary attacks you,
every aircraft available is used, he explained in his briefing to the media.
The bombs hit target (sic) precisely. Israeli Spice 2000 bombs were used,
confirmed BS Dhanoa. Speculation had been rife over the ammunition used ever
since the air strikes had taken place. The target has been clearly amplified by
the Foreign Secretary in his statement. If we plan to hit the target, we hit
the target, otherwise why would he (Pakistan PM) have responded, if we dropped
bombs in the jungles why would he respond, the air force chief commented. BS
Dhanoa said, I do not know the conditions of the deal between US and Pakistan,
whether it was not supposed to be used for offensive purposes. But we have
pieces of the AMRAAM and we have clear evidence that F-16s were used by
Pakistan.
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PAINED TO SEE LACK OF ACTIONS ON RISKY TAXPAYERS: CBIC
The Central Board of
Indirect Taxes (CBIC) has pulled up its field formations for lagging behind
their state-level counterparts in revenue collection and enforcement of
anti-evasion measures. In several letters written by CBIC member John Joseph to
the zonal heads of the indirect tax administration (FE has reviewed these), he
has pointed out how they are lax on using the data analytics reports generated
on ‘risky taxpayers’. Except the zones of Mumbai, Bengaluru, Panchkula, Delhi,
Guwahati, Chandigarh, Nagpur, Bhopal, Kolkata, Ranchi, Vadodara and
Bhubaneshwar, in all other zones the shortfall is higher than the state
administration. Our collections are much below the targets, John wrote to 21
chief commissioners in early January. Later in the month, Joseph reminded the
field formations that director general of analytics and risk management (DGARM)
had prepared reports on 88,000 GST registrants based on their compliance
behaviour He asked each range to verify the contents of the report for at least
three taxpayers each week, and upload feed back on the same so that reports can
be improved upon. Joseph, saying: I am much pained to observe that even after 3
weeks with almost 88,000 GSTN number being sent by the ARM to the field for
verification, only about 1,500 feed backs have been received in the DDM portal
so far. Except for 12 commissionerates other have not even provided a single
feed back. The anti-evasion efforts under GST suffered a setback in the first
few months of launch when the government had to suspend the full-fledged
return-filing system owing to glitches in the system and complaints from taxpayers
that compliance was too cumbersome. Since then, GST compliance has been
curtailed to single summary return filing form although its expected that a
comprehensive yet simplified system would be in place from July. Further, he
added that the performance needed to improve to ensure 9,000 verification are
done every week by 3,000 ranges being spread across the country. However, till
late February, five zones had still not uploaded a single feedback on ‘risky
taxpayers’ report uploaded by DGARM, Joseph said. DGARM came into existence on
the same day as GST was rolled out. Its mandate is to generate actionable
intelligence from huge amount of data generated under GST.
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‘HIGH GST RATE HIT HOUSING SECTOR’
The high rate of Goods and
Services Tax (GST) on under-construction properties (which was reduced
recently) led to the fund crunch in the housing sector and also among
non-banking finance companies (NBFCs), according to Indira Rajaraman, economist
and a former member of the Reserve Bank of India’s board. In the earlier
funding model (prior to GST regime), for construction of houses, housing
companies obtained working capital through sale of apartments before the
construction even began. This had the property of getting consumer commitment
[even] before the start of the projects, she said. Dr. Rajaraman was pointing
out to the construction sector being one of the examples of distortionary
content under the GST. She pointed out that for under-construction property,
the GST was 18% and with one-third abatement of value of land, the effective
rate was 12%. Clearly, the taxation of pre-construction purchase at 18% with
simultaneous exemption of completed housing implied the intent to shatter that
financing model, perhaps to squeeze out the use of untaxed cash (black money)
in the construction sector, Dr. Rajaraman said. Post-GST, the construction
sector turned for funding to NBFCs which had already received investible funds
after demonetisation flooded banks with cash in November 2016. This was
followed subsequently by financing from mutual funds, she added. The GST
Council does not seem to have thought through the implication of shattering
that business finance model of the sector (housing), which played a key role
both in terms of job creation and fulfilling the housing needs, she added. Now,
the rates on under-construction properties had been reduced to 5% without
credit for taxes and to 1% for affordable under-construction properties,
recently, she said. The move should help in gradual pick up of housing demand
and improve the health of housing sector and NBFCS, Dr. Rajaraman said.
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DELHI COURT EXTENDS INTERIM PROTECTION FROM ARREST GRANTED TO
ROBERT VADRA TILL MAR 19
A Delhi court on Saturday extended
the interim protection from arrest granted to Robert Vadra till March 19 in a
money laundering case lodged by the Enforcement Directorate (ED).
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DRDO CHAIRMAN TO BE HONOURED WITH MISSILE SYSTEMS AWARD BY
US-BASED AIAA
DRDO Chairman G Satheesh
Reddy has been honoured with the prestigious Missile Systems Award by the
American Institute of Aeronautics and Astronautics (AIAA) for his excellence in
the field of missile systems technology. Reddy will be awarded the Missile
Systems Award 2019 along with Arizona-based Raytheon Missile Systems' Rondell J
Wilson, the Virginia-based professional society of aerospace engineering
announced in a statement.
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RCEP MEMBERS MUST SHOW FLEXIBILITY TO RESOLVE PENDING ISSUES:
SURESH PRABHU
The member nations of RCEP
bloc must empower their negotiators to adopt flexibility for resolving pending
issues coming in the way of concluding the negotiations for the proposed mega
trade agreement, Suresh Prabhu said Saturday. The proposed mega trade deal
Regional Comprehensive Economic Partnership (RCEP) agreement, is being
negotiated by 16 countries — 10-member Asean group and India, Japan, China,
South Korea, Australia and New Zealand. We should empower our negotiators with
mandate to show flexibilities and accommodation on outstanding and pending
issues, Prabhu said. He said that a lot of ground still needs to be covered
this year. We should be mindful of the limitations ahead, given that there are
only three more rounds this year at the technical level, he said. So far 25
rounds of talks have been concluded but the members have yet to finalise the
number of goods on which customs duty will be eliminated. Issues are also
pending in services sector as India is demanding greater flexibility to promote
trade in services. Further, he said that some countries of RCEP bloc including
India will be going for elections this year, but the momentum of the
negotiations should be continued. The 16-member Regional Comprehensive Economic
Partnership (RCEP) bloc aims to cover among the issues related to goods,
services, investments, economic and technical cooperation, competition and
intellectual property rights. RCEP members want India to eliminate or
significantly reduce customs duties on maximum number of goods it traded with
them. India’s huge domestic market provides immense opportunity of exports for
RCEP countries. But lower level of ambitions in services and investments, a key
area of interest for India, does not augur well for the agreement that seeks to
be comprehensive in nature.
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GOVERNMENT ISSUES ALERT TO ENHANCE SECURITY AT ALL AIRPORTS
The government on Saturday
issued an alert for all airports and airlines in the country, asking them to enhance
the existing security measures as it has received intelligence inputs in the
aftermath of the Pulwama attack and subsequent developments. It is imperative
to enhance the existing security measures being taken at all the civil aviation
installations like airports, airstrips, airfields, air force stations,
helipads, flying schools, aviation training institutes etc. so that no untoward
incident takes place, the alert notification read. The BCAS has asked airlines
and airports to take 20 specific enhanced security measures which will be in
operation till further orders. The security measures include strict access
control to regulate entry into terminal building, airside, all operational area
and other aviation facilities. The BCAS has directed enhanced screening of
passengers including 100 per cent full pat down search at pre-embarkation
security checkpoint, and enhanced random screening of staff and visitors at the
main gate to the terminal building. No vehicle should be parked in front of the
terminal building and there should be intensive checking of vehicles entering
car parking area, according to the alert notification. Another measure is --
strict on ground monitoring of regulatory guidelines for operations of
non-conventional aerial platform like microlight aircraft, aero models,
paragliders, unmanned aerial systems (UAS), drones, power hang gliders and hot
air balloons. The BCAS has suggested enhanced screening of passengers, staff,
and hand baggages and strengthening of anti-terrorism/anti-sabotage measures
and placement of quick response teams at all airports. Regarding catering, the
alert notification said, Inspection by the chief security officer of the
airline concerned from the presetting stage to vehicle check and entry into
airside. Airport Security Unit/Aviation Security Group to ensure thorough check
of the vehicle through under view mirror, cabin search etc and checking of the
driver and attendant and their ID matching of signatures.
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PM MODI HAS AGAIN FAILED IN THIS QUARTER’S NUMBERS, SAYS RAHUL
GANDHI
Rahul Gandhi Saturday hit
out at Prime Minister Narendra Modi over declining growth in the third quarter
of this fiscal, saying the chowkidaar has once again failed in the numbers of
the quarter. False promises, false games. The chowkidaar has failed again in
this quarter’s numbers, the Congress chief said on Twitter, citing a news
report that India’s growth declined to 6.6 per cent in the quarter ending
December 2018. Quarterly growth rates of 2018-19 puncture the claims of
government. Q1 was 8 %, Q2 was 7 % and Q3 was 6.6 %. This is the swan song of
the BJP government. If Q4 growth rate declines further, as is expected, that
will expose the government completely, Chidambaram tweeted.
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400 ADDITIONAL BUNKERS SANCTIONED FOR BORDER RESIDENTS IN
J&K'S POONCH, RAJOURI
The Jammu and Kashmir
administration on Saturday sanctioned additional 400 individual bunkers for the
twin districts of Poonch and Rajouri which witnessed intense shelling from
Pakistani troops over the past five days. In view of the heightened
cross-border shelling, the government has sanctioned additional 200 individual
bunkers each for Poonch and Rajouri districts, an official spokesman said. The
administration has directed officials to ensure speedy construction of these
bunkers and it said the funds would be placed with the deputy commissioners
concerned through the Rural Development Department. The bunkers will get built
in the next one month as per the prescribed specifications, the spokesman said.
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NIRBHAYA CASE CONVICTS MAY SOON FILE CURATIVE PETITION AGAINST
DEATH PENALTY, COURT TOLD
Three convicts in the 2012
gang rape and murder case might soon file a curative petition challenging the
death penalty, a Delhi court was told on Saturday. Anu Grover Baliga Saturday
heard a plea filed by the parents of Nirbhaya seeking death warrant of four
convicts without any delay. He told the court that the Tihar jail authorities
have also stated the same in their reply to the plea. The court also directed
the jail authorities to file a status report in the case by April 6 -- the next
date of hearing.
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SAMJHAUTA EXPRESS SERVICES RESTORED, TRAIN TO RUN FROM INDIA
ON MARCH 3
The Samjhauta Express will
leave for Pakistan from Delhi on Sunday after the two neighbours agreed to
start services at their ends, a senior railway official told PTI. The official
said the first train from India will leave on March 3. While Pakistan had
cancelled its services right after an air strike by the Indian Air Force, India
cancelled the operations of the Samjhauta Express on February 28. The Railway
Board in an order had said all operations of the Attari Special Express,
Delhi-Attari-Delhi, which together with the Pakistani line from Wagah-Lahore is
known as the Samjhauta or Friendship Express, will remain cancelled. It had
also said that the cancellation was due to purely operational reasons. Sources
said after the missive about Pakistan’s resumption of services was conveyed to
the board, it was decided that services on the Indian end will resume too.
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WING COMMANDER ABHINANDAN FACED MENTAL HARASSMENT IN PAKISTAN:
SOURCES
Wing Commander Abhinandan
Varthaman went through mental harassment during his captivity in Pakistan but
did not face any physical torture
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ABHINANDAN IS BACK BUT WITH A RIB FRACTURE AND SOME BRUISES
Indian Air Force pilot
Wing Commander Abhinandan Varthaman who returned to India on Friday night after
being in the Pakistan Army’s captivity has suffered a rib fracture, back
contusion and some bruises. This came to light during his medical checkup at
the army’s Research and Referral (R&R) hospital in Delhi, officials said on
Saturday. He also underwent a MRI scan at the hospital, which showed that he didn’t
suffer spinal and brain injuries officials said. They added that Varthaman has suffered
no ‘significant’ injuries However, he has been admitted at the hospital for two
days for observation and recuperation from a fractured rib and a back
contusion. He is likely to be discharged by Tuesday. Thereafter, he will have a
debriefing with top government officials, including from the Indian Air Force,
on his plane crash and what happened to him during his captivity, besides his
own assessment of the situation there. Nirmala Sitharaman met Varthaman with
senior government officials on Saturday afternoon. While the defence ministry
is yet to reveal the venue, sources said it was at the R&R hospital.
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ABHINANDAN VARTHAMAN NOT RELEASED UNDER ANY PRESSURE, SAYS PAK
FOREIGN MINISTER
Pakistan was not under
pressure or any compulsion to release Indian pilot Abhinandan Varthaman,
foreign minister Shah Mehmood Qureshi said. India maintained that the Pakistani
decision was in consonance with the Geneva Conventions. Pakistan was under
intense pressure from the US, the UAE and Saudi Arabia to de-escalate the
tensions with India in the wake of the Pulwama terror attack and release the
Indian pilot. Qureshi said: We wanted to convey to them (India) that we do not
want to increase your sorrow, we do not want your citizens to be miserable, we
want peace. Qureshi dismissed the notion that the captured IAF pilot was
released owing to pressure or as a compulsion.
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PAK WILL NOT ALLOW ITS SOIL TO BE USED FOR TERRORISM AGAINST
INDIA: QURESHI
Pakistan will not allow
its soil to be used for terrorism against any state, including India, Shah
Mehmood Qureshi said that the nerve centre of the Jaish-e-Mohammad terror group
has been taken over by the government. India submitted its dossier, if India
wants to conduct talks on this, then we are ready for it, Qureshi said. He said
that there is a new government with a new mindset and a new approach in
Pakistan and its policies are very clear. However, Qureshi said that there was
still confusion over whether the JeM had claimed responsibility for the attack
or not. The confusion is (that) the leadership (of JeM) when contacted, said
no, he said. They have denied that, that's the confusion.
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INDIA-PAK CONFLICT: JEM CHIEF MASOOD AZHAR SUSPECTED TO HAVE
RENAL FAILURE
Massod Azhar, the founder
of the dreaded terrorist group Jaish-e-Mohammad (JeM), is suspected to be
afflicted with renal failure and is under regular dialysis at an army hospital
in Rawalpindi in Pakistan, officials said. Recent reports indicate that Masood
Azhar is now afflicted with renal failure and is under treatment and regular
dialysis at the army hospital in Rawalpindi, the headquarters of the Pakistan
Army, a senior security official said.
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RESOLUTION SUBMITTED IN PAKISTAN PARLIAMENT TO ENDORSE IMRAN
KHAN FOR NOBEL PEACE PRIZE
A resolution was submitted
in Pakistan Parliament on Saturday to endorse Prime Minister (PM) Imran Khan
for the prestigious Nobel Peace Prize due to his efforts to de-escalate resent
tension with India. Fawad Chaudhry on Saturday submitted the resolution in the
secretariat of National Assembly, the lower house. The resolution stated that
Mr. Khan’s decision of releasing Indian Air Force pilot Wing Commander
Abhinandan has de-escalated the hostility between Pakistan and India. The
resolution is expected to be taken up on Monday when it is scheduled to convene
its session.
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NO CHANCE OF DIALOGUE AT ANY LEVEL WITH PAKISTAN BEFORE
'CREDIBLE AND VISIBLE ACTION' AGAINST TERROR GROUPS, SAYS INDIA
Even as Pakistan Prime
Minister hoped to have talks with India following the release of Indian Air
Force pilot Abhinandan Varthaman, India has ruled out any chance of talks at
any level with Islamabad India has demanded that Pakistan must take immediate
and verifiable action against the Jaish-e-Mohammed, responsible for the Pulwama
terror attack in which 40 CRPF personnel were killed, before it can hope for
talks. Sources in India said on Saturday that there is no chance of dialogue at
any level with Pak until it takes credible and visible action against
terrorists.
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PAKISTAN IN TROUBLE? US SEEKS INFORMATION ON 'MISUSE' OF F-16
AGAINST INDIA
The US is seeking more
information on the potential misuse of American-made F-16 fighter jets by
Pakistan against India in violation of the end-user agreement the State
Department has said. The Indian Air Force on Thursday displayed parts of an
AMRAAM beyond visual range air-to-air missile as evidence to conclusively prove
that Pakistan deployed US-manufactured F-16 fighter jets during an aerial raid
targeting Indian military installations in Kashmir after India's anti-terror
operation in Balakot. We are aware of these reports and are seeking more
information, a State Department spokesperson told. Due to non-disclosure
agreements in Foreign Military Sales contracts, we cannot discuss the specifics
of end user-agreements contained within, Lt Col Kone Faulkner, a Defense
Department spokesperson told PTI. The United States, which is the largest
seller of high-tech defence equipment globally, and has a strong end-user
monitoring agreement, as a matter of practice takes all allegations of misuse
of defense articles very seriously.
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UK MINISTER SIGNS EXTRADITION ORDER FOR WANTED BOOKIE SANJEEV
CHAWLA
Sajid Javid has ordered
the extradition of alleged bookie Sanjeev Chawla to India to face charges of
cricket match-fixing dating back to 2000. The UK Home Office confirmed on
Saturday that the minister had given the go-ahead for Chawla to be sent to
India after Westminster Magistrates' Court had over-ruled its previous ruling
earlier this year to find no bars to his extradition. Chawla, a key accused in
the cricket match-fixing scandal involving former South African captain Hansie
Cronje in 2000, has 14 days from the date of the order to file an application
to seek leave to appeal against the order. On 27 February 2019, the Secretary
of State (Javid), having carefully considered all relevant matters, signed the
order for Sanjeev Chawla's extradition to India, said a Home Office
spokesperson.
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OVER 250 TERRORISTS KILLED IN IAF AIR STRIKES, CLAIMS BJP
CHIEF AMIT SHAH
BJP President Amit Shah on
Sunday said over 250 terrorists were killed in the airstrike carried out by the
Indian Air Force (IAF) on the 13th day of dastardly Pulwama Terror attack. In 5
years two major incidents happened. In URI and Pulwana after Uri attack our
army entered Pakistan and did a surgical strike and took revenge of our
soldiers' death. After Pulwama attack, everyone thought surgical strike can't
be done this time now what will happen?. At that time Prime Minister Narendra
Modi led central government did an airstrike on the 13th day and killed more
than 250 terrorists without any harm on our side, Shah said.
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JEM CHIEF MASOOD AZHAR 'ALIVE', SAYS PAKISTAN MEDIA
India's most wanted
terrorist and Jaish-e-Mohammed chief Masood Azhar is alive a Pakistani media
report said on Sunday, quoting unnamed sources close to his family. The media
reports claiming that JeM leader is dead are false, Geo Urdu News reported. The
report came amid speculation on social media that JeM founder has died.
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UN COULD DESIGNATE MASOOD AZHAR A GLOBAL TERRORIST ON MARCH 13
UNLESS CHINA BLOCKS MOVE
The French-led proposal
backed by the US and the UK to designate Masood Azhar a global terrorist by the
United Nations Security Council (UNSC) is expected to be passed next week if
China doesn’t block it The chair of the UNSC sanctions committee has notified
that unless he hears to the contrary by 3 pm on March 13, he will assume that
its members have no objection to the addition of Azhar to the 1267 ISIL
(Da’esh) and Al-Qaida Sanctions List. This will be a shot in the arm for India,
despite Pakistani claims that the Azhar-headed Jaish-e-Mohammed (JeM), based in
that country, was not behind the Pulwama attack that killed more than 40
paratroopers and heightened border tensions. Pakistan has said Azhar is in the
country and suffering from renal failure. ISIL and Da’esh are alternative names
for the ISIS terror group. The chair has the honour to transmit, for the
consideration of the members, a proposal from the United States, the United
Kingdom and France to add an individual, Mohammad Masood Azhar Alvi,to the ISIL
(Da’esh) and Al-Qaida Sanctions List, according to the notification. All eyes
are now on China, given its track record of blocking proposals to put Azhar on
the list since 2010. India remains cautious, according to well-informed
sources. However, there are hopes in certain uarters that China may relent this
time under advice from both the US and Russia amid geopolitical shifts and the
attractions of the Indian market.
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HUAWEI CFO SUES CANADIAN GOVT, POLICE FORCE OVER 'FALSE
IMPRISONMENT'
Meng Wanzhou, the Chief
Financial Officer (CFO) of Chinese tech giant Huawei, has sued the Canadian
government the national police force and the country's border agency, alleging serious
breaches of her constitutional rights when she was detained, searched and
interrogated at the Vancouver International Airport last December. Meng's
lawyers revealed on Sunday that the lawsuit against the federal government,
Canada Border Services Agency (CBSA) and the Royal Canadian Mounted Police
(RCMP) was filed on Friday in the British Columbia Supreme Court, reports the
Canadian Broadcasting Corporation (CBC). In the claim, the embattled Huawei CFO
said that she was seeking damages for misfeasance in public office and false
imprisonment. It says Meng was held for three hours without explanation and
access to a lawyer before an RCMP constable told her why she was arrested. The
lawsuit has also alleged that Meng suffered mental distress, anxiety, and loss
of liberty as a direct result of her detention at the airport on December 1,
2018, while in transit to Mexico and South America. It also alleges that the
officers obtained a warrant ordering Meng's immediate arrest, but intentionally
delayed that arrest under the guise of a routine border check in order to
extract evidence from her, CBC said.
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CANADIAN PM JUSTIN TRUDEAU SHUFFLES CABINET AMID CORRUPTION
SCANDAL
Canadian Prime Minister
Justin Trudeau has shuffled his cabinet to fill the role vacated by an
ex-minister who accuses him and others of inappropriately interfering to avoid
prosecuting a major Canadian company Trudeau named a new veterans affairs
minister Friday after Jody Wilson-Raybould resigned from the cabinet on
February 12. Wilson-Raybould testified Wednesday that Trudeau, his staff and
other officials imposed pressure on her to avoid criminal prosecution of
Montreal-based SNC-Lavalin in a case involving allegations of corruption in
Libya. She said they pushed for an agreement that would let the company pay
reparations but avoid a conviction.
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RUSSIA VOWS MORE SUPPORT FOR VENEZUELAN 'FRIEND' MADURO,
INCLUDING AID
Russia on Friday vowed to maintain
support for the embattled regime of its Venezuelan friend President Nicolas
Maduro, including with humanitarian aid supplies. Delcy Rodriguez in Moscow,
Russian Foreign Minister Sergei Lavrov said President Vladimir Putin expressed
support and solidarity for his colleague and friend Maduro in the country's
political standoff with the opposition. Russia will continue to assist the
Venezuelan authorities in resolving social and economic problems, including
through the provision of legitimate humanitarian aid, Lavrov told. Battered by
an economic meltdown, Venezuela descended into political crisis when opposition
leader Juan Guaido declared himself interim president in January and asserted
that Maduro was no longer legitimate. Lavrov said Russia had recently sent to
Venezuela 7.5 tonnes of medical supplies and received a request for more
shipments. We are currently considering it, he said. He added that Russia was
also sending mass supplies of wheat to Venezuela, claiming those shipments
helped normalise the humanitarian situation in the country, which is
crisis-ridden despite its oil wealth.
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HUAWEI PLANS BILLIONS IN DIVIDENDS FOR STAFF DESPITE ROW WITH
US: SOURCES
China's Huawei is set to
reward employee shareholders with a 3 per cent rise in cash dividends that are
worth billions of dollars, according to company sources and Reuters
calculations - a move expected to boost morale as it battles a US-led drive
against its telecom gear. The payout also appears to indicate profit growth as
well as confidence that the company can survive US accusations that its
telecoms network equipment may enable espionage by the Chinese government,
analysts said. Known for its so-called wolf culture that demands high levels of
dedication from employees in return for high pay, Huawei Technologies Ltd
boasts that some 80,000 of its workers own nearly all of the company's shares -
a scheme viewed as unique for a firm of its size. Total returns per share
dropped 7 per cent to 2.61 yuan, they added. That follows a stock split. There
will also be a 1 to 1.56 stock split for 2018, the sources said.
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TRADE WARS: PRESIDENT TRUMP ASKS CHINA TO IMMEDIATELY REMOVE
AGRICULTURAL TARIFFS
President Donald Trump
said he has asked China to immediately remove all tariffs on U.S. agriculture,
including beef and pork, citing progress in trade talks between the two
nations. Trump noted in a tweet Friday that he refrained from increasing U.S.
tariffs on Chinese goods to 25 percent from 10 percent on March 1, as he said
he would in the absence of progress toward an agreement. China imposed
retaliatory tariffs on American agricultural products last year, though Trump
did not indicate that his demand was limited to those penalties. Soybeans, as
well as beef, pork and chicken products were on the first batch of retaliatory
tariffs on $34 billion worth of imports imposed in July, and were subject to an
extra 25 percent duty. It’s unclear what effect Trump’s demand could have on
ongoing talks, which the president signaled earlier this week were moving
toward an agreement. American officials are preparing a final trade deal that
Trump and China’s President Xi Jinping could sign within weeks, people familiar
with the matter have said, even as a debate continues in Washington over
whether to push the Beijing government for more concessions. Trump, said:
Speaking of China we’re very well on our way to doing something special. But
we’ll see. I am always prepared to walk, he said. I’m never afraid to walk from
a deal, and I would do that with China, too, if it didn’t work out. If China
were to remove the tariffs, it would likely be a huge boon to U.S. crop markets
that have been caught in the trade war crossfire. Ending the tariffs would
dovetail with a proposal by Beijing to buy an additional $30 billion a year of
American agricultural products including corn, soybeans and wheat as part of a
possible agreement.
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PM NARENDRA MODI MADE INDIA 'CORRUPTION-FREE': YOGI ADITYANATH
Yogi Adityanath has
inaugurated and laid the foundation stone of projects worth Rs 131 crore in
Maharajganj district and claimed that Prime Minister Narendra Modi made India
corruption-free. Adityanath also praised the soldiers and said: Terrorists
don't understand the language of love so Indian soldiers did 'Shiv Tandav' with
surgical strike. Actually, a lot of terrorists were killed during surgical
strike but Pakistan is hiding the facts, he claimed. Adityanath said: The Modi
government started several welfare schemes for poor and realised the dream of
corruption-free India. He also instructed the officials to complete all
development works of the state as soon as possible.
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AHMED PATEL RAISES QUESTIONS ON EC NOT ANNOUNCING LOK SABHA
ELECTION DATES
Ahmed Patel on Monday raised
questions on the Election Commission not announcing dates for general elections
and asked whether it was waiting for the prime minister's official travel
programme to conclude. He also accused the poll body of giving a long rope to
the government to campaign at the cost of the state exchequer. Is the Election
Commission waiting for the Prime Minister's official travel programs to
conclude before announcing dates for general elections (sic). Using government
functions as an excuse for political rallies, flooding TV/radio and print with
political ads. It is seems that EC is giving the government a long rope to
campaign till the last moment using public money, he said on Twitter.
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PLEASE USE COMMON SENSE: PM MODI TO OPPOSITION ON HIS RAFALE
REMARKS
Modi said India would not
sit quietly in the fight against terrorism and would do all to cure it from the
root, which lies in Pakistan. I said if Rafale was acquired in time it would
have made a difference (during the February 27 dogfight), but they say Modi is
questioning our air force strike, he said. Please use common sense. What I said
was if we had Rafale at the time (of aerial dogfight), then none of our fighter
jets would have gone down and none of theirs saved, he added. Lashing out at
statements from opposition party leaders who demanded proof of the February 26
air strike on a Jaish-e-Mohammed terror camp in Pakistan's Balakot, Modi said
his objective was to end terror while that of the opposition was to remove him.
The root of terrorism disease is in the neighbouring country, should we not cure
the disease from its root, he said.
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IAF'S SUKHOI JET SHOOTS DOWN PAK MILITARY DRONE NEAR INDO-PAK
BORDER
A fighter jet of the
Indian Air Force on Monday shot down a Pakistani military drone in Bikaner
sector of the Indo-Pak border using an air-to-air missile, government sources
said. The Pakistani drone was shot down by a Sukhoi-30 aircraft at around 11:30
AM, minutes after a ground-based radar station detected the flying machine,
they said. It was the second unsuccessful attempt by Pakistan to send a spy
drone inside India in the last six days.
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FORCES ON ALERT EVEN WHILE CALM RETURNS TO BORDER
The situation along the
India-Pakistan border is de-escalating but the Army has not pulled back
formations mobilised in the aftermath of the February 14 Pulwama attacks and
100 ceasefire violations, indicating a continuing distrust. The India-Pakistan
border is calmer, but there is still unease and suspicion on the Pakistani
forces, said an official. The Border Security Force, which guards the 2,289.66
km International Border (IB) with Pakistan, says that it has ‘sensitised’ its
troops in the wake of the recent tensions between the two countries. As we are
deployed right at the IB, we have extra sensitised our troops in light of what
has happened. We like earlier as well are remaining alert, said an official.
Regular ceasefire violations along the LoC have only added to the distrust
around Pakistan. Indian forces remain alert They have not moved back the
formations deployed along the border after Indian security agencies noticed
that Pakistan too has not pulled back its own formations, especially at the
Line of Control (LoC), and supported them with armoured tanks and infantry
combat vehicle columns. Deployments on both sides are unlikely to move out any
time soon.
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J&K: PAKISTAN VIOLATES CEASEFIRE IN AKHNOOR SECTOR, INDIAN
ARMY RETALIATES
Pakistan on Monday violated
ceasefire in Jammu and Kashmir's Akhnoor sector. Firing from across the border
started at 3 am and stopped at 6:30 am. Indian Army retaliated effectively.
Further details are currently awaited. Meanwhile, Samjhota Express train
services also resumed on Monday. The services of the train were temporarily
suspended amid India-Pakistan tension which has been prevailing since Pulwama
attack. The train on Monday departed from Lahore for India. There were in 151
passengers in 7 compartments.
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ALLOW DUTY-FREE IMPORTS OF 85% PRODUCTS: CHINA
China has asked India to allow
duty-free import of 85% of its products into the country, a move that is
putting pressure on policymakers as they grapple with the complex negotiations
for Regional Comprehensive Economic Partnership (RCEP) to create the world’s
largest free-trade agreement. India has offered to open up 74% of its market to
Chinese goods in a phased manner but Beijing is not satisfied with the
proposal. During bilateral discussions with China, officials were told that the
Asian giant was willing to give duty-free access to 92% of Indian exports,
provided New Delhi raised the bar by opening up more. Compared to other
countries where over 90% of imports can come duty-free India has offered lower
concessions to China. Even the current offer is fraught with the risk of goods from
across the border swamping Indian markets and further impacting the massive
trade deficit, which was estimated at $63 billion during the last financial
year. But officials conceded that there is little option before India but to
open up its market gradually with a long tariff phase-out period so that
domestic players have time to adjust to competition. We have opportunities in
segments where China may be a dominant player. Plus, we are seeking up to 20
years to dismantle the import duties, said a senior trade official.
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MODI GOVERNMENT NOT SHY LIKE UPA TO TAKE ON PAKISTAN: HARDEEP
PURI
Hardeep Singh Puri has
charged the erstwhile Congress-led UPA dispensation with being shy in giving a
befitting reply to Pakistan and asserted the Modi government has reversed this
tendency. Puri mentioned about the safe return of Wing Commander Abhinandan
Varthaman and said, The previous UPA government was shy to take on Pakistan,
saying that both are nuclear-powered nations and any conflict will be
dangerous. But the Modi government does not feel so and India retaliated (for)
the terror attack in Pulwama boldly, the career-diplomat-turned politician
said.
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GUJARAT: BUILDER ACCUSED OF DUPING TRUST OF RS 74 LAKH
The managing trustee of a
charitable trust that runs the Tulip International School has in a complaint
filed with the Bopal police station accusing two builders of cheating them of
Rs 74 lakh. Yogesh Shridhar, in his complaint stated that in April 2016, the
trust decided to buy 11 flats in a scheme 'Gopinath Pride' under Sanket
Co-operative Housing Ltd. The scheme was being carried out by Vipul Patel and
Mithalal Dave. The trust paid Rs 50 lakh as advance to buy the houses as residential
quarters for its employees. Later they also paid the remaining Rs 14 lakh.
Shridhar in his complaint said that six months ago, the builder came and got
their photograph and signature for the allotment papers but did not give them
the said documents. The complaint states that after six months the trust got to
know that someone else was living in the flat for which the trust had paid.
When Sreedhar's son went to the builder to clarify on the matter he not only
threatened to kill him but also said that he would commit suicide and name him
as an accused. The trust then investigated and found that of the 11 flats
allotted to the trust, one had been sold to a couple from Thakkarbapanagar. It
was then that the trust realised that they have been cheated.
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TERRORISTS BEING TRAINED TO CARRY OUT OPERATIONS THROUGH SEA:
NAVY CHIEF
Weeks after the Pulwama
attack, Navy Chief Admiral Sunil Lanba on Tuesday warned that there are reports
about terrorists being trained to carry out operations through the sea. Lanba
said the Pulwama attack was perpetrated by extremists that were aided by a
State that seeks to destabilise India. We also have reports of terrorists being
trained to carry out operations in various modus operandi, including through
the medium of the sea, he said. The Navy chief said this part of the world had
witnessed multiple forms of terrorism in recent years and few countries in the
region had been spared. India, however, faces a far more serious version of state-sponsored
terrorism, he said. Lanba also emphasised the importance of the Indo-Pacific
Region. There is a renewed focus of the world on the seas. This is principally
due to the geoeconomic and geopolitical significance of the maritime domain.
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PAKISTAN SUSPENDS RAWALAKOT-POONCH BUS SERVICE
Pakistan has suspended
cross-border bus service between Jammu and Kashmir and Pakistan-occupied
Kashmir (PoK), days after temporarily suspending Samjhauta Express. The bus
service between J&K’s Poonch and PoK’s Rawalakot was suspended on Monday
after Pakistani authorities refused to open the gate at Chak da Bagh crossing
point.
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PAKISTAN ANNOUNCES CRACKDOWN ON UN TERROR LIST GROUPS
Pakistan on Monday
announced the freezing of accounts and seizure of assets linked to
organisations banned by the UN Security Council (UNSC), as pressure mounted on
the country to crack down on militant groups amid tensions with India. The move
comes after weeks of heightened tensions in South Asia after a massive suicide
bombing in Kashmir killed 40 Indian troops on February 14, with the attack
claimed by Pakistan-based militant group Jaish-e-Mohammed. Pakistan's foreign
office said in a statement that the government had issued the United Nations
Security Council (Freezing and Seizure) Order, 2019. A senior foreign office
official, requesting anonymity, said this order means the government will take
control of assets and control all the accounts of organisations banned by the
UNSC. The United States pressed Pakistan last month to punish those behind the
Kashmir attack, with State Department spokesman Robert Palladino urging all
countries to uphold their responsibilities pursuant to the United Nations Security
Council resolutions to deny safe haven and support for terrorists.
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INDIA, RUSSIA TO INK $3 BILLION NUCLEAR SUBMARINE DEAL THIS
WEEK
India is set to sign a
$3-billion deal with Russia this week to lease another nuclear attack submarine
that will be customised and fitted with indigenous communications systems and
sensors. The deal for the Akula class submarine — dubbed Chakra III after the
first two similar vessels India obtained from Russia — will be the biggest
signed with Moscow since the $5.5-billion contract for the S-400 air defence
system was finalised last year. The intergovernmental agreement for the
submarine lease is likely to be inked on March 7 and that the vessel will be ready
by 2025 after an extensive building programme on mothballed hulls at a Russian
shipyard.
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STOP POLITICISING AIR FORCE ACTION: CONGRESS TO PM MODI
The Congress leadership on
Monday accused the Prime Minister and the BJP leadership of politicising the
recent IAF strikes against terror camps in Pakistan and demanded what was the
basis of BJP chief Amit Shah’s claim that over 250 terrorists were killed
during the Balakot strikes. Accusing PM Modi of unfairly targeting the Congress
and other opposition parties despite them extending support to the government
and the IAF, AICC spokesperson RPN Singh said: It is extremely shocking that
the PM chose to accuse the opposition despite the Congress president and the
Party standing by the government. While we continue to back the government, we
would like to know how did BJP president Amit Shah know that 250 terrorists
were killed? Senior Congress leader Kapil Sibal asked the PM whether
international media reporting that no militant was killed during the raids
amounted to them being pro-Pakistan. Sibal, in a tweet, said several
international media houses, such as the New York Times, London-based Jane’s
Information Group, Washington Post, Daily Telegraph, The Guardian and Reuters,
reported that there was no proof of militant losses at Balakot. Aren’t you
guilty of politicising terror? Sibal asked.
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AFZAL GURU’S SON IS LOOKING FORWARD TO HIS INDIAN PASSPORT
Ghalib, the son of hanged
Parliament attack convict Afzal Guru, in whose name the Pulwama suicide bomber
blew a CRPF convoy on February 14, is proud of owning an Aadhaar card. At least
I have one card to show. I am happy, Guru’s 18-year-old son tells, turning
over-joyous as he shows off his Aaadhar card at his home, situated against the
mountains of Gulshanabad covered with Sunday night’s snow. With doting maternal
grandfather Ghulam Mohammad and mother Tabassum by his side, Ghalib is quick to
insist that he must now have an Indian passport. I will be a proud Indian
citizen when I get my passport says Ghalib.
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CLINTON RULES OUT ANOTHER PRESIDENTIAL RUN, BUT SAYS 'NOT
GOING ANYWHERE'
Hillary Clinton has for
the first time ruled out running for president in 2020. I'm not running, but
I'm going to keep on working and speaking and standing up for what I believe,
Clinton said. I want to be sure that people understand I'm going to keep
speaking out, Clinton said. I'm not going anywhere. What's at stake in our
country, the kinds of things that are happening right now, are deeply troubling
to me. Asked if she would run again for some kind of public office, she seemed
to avoid ruling that out. I don't think so, but I love living in New York and
I'm so grateful that I had the chance to be a senator for eight years and to
work with people across our state, said the former secretary of state and
senator for New York state.
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THIRD TIME LUCKY: EX-NISSAN CHIEF GHOSN WINS BAIL AFTER 3
MONTHS IN JAIL
Former auto industry titan
Carlos Ghosn moved a step closer to freedom Tuesday as a Tokyo court
unexpectedly granted him bail after more than three months in a detention cell.
It was the latest twist in a case that has kept Japan and the business world
gripped since the tycoon's shock arrest on November 19 over suspicions of
financial misconduct. The court set bail at one billion yen (USD 9 million),
but prosecutors are likely to appeal the decision and could even file additional
allegations against the 64-year-old to keep him from leaving detention. Under
his bail terms, Ghosn is banned from leaving Japan and must adhere to
conditions aimed at preventing him from fleeing or destroying evidence.
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INDIAN-ORIGIN MAN GETS JAIL TERM, $2.6 MILLION FINE FOR
EMBEZZLEMENT IN US
An Indian-origin man has
been sentenced to nearly three years in prison and ordered to pay $2.6 million
in restitution for being convicted of mail fraud and embezzlement. Dinesh
Shankar, 41 of San Jose, California was sentenced to 33 months in prison as a
result of the mail fraud conviction for embezzling from a medical device
company, US Attorney David Anderson said. In addition to the prison sentence
and the $2.6 million restitution, he was also ordered to serve a three-year
term of supervised release. Shankar will begin serving his sentence this year. According
to the plea agreement, from March 2013 until January 2018, Shankar was an
employee of a medical device company. Beginning July 2013 until December 2017,
he submitted false expense reports and false invoices to the company's finance
department, causing the company to pay more than half a million dollars in
excess of the legitimate expenses and expenditures for services provided to the
company. In addition, Shankar admitted that he created false invoices that
appeared to be issued by six different entities, which were actually fictitious
business names for entities that he controlled.
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INDIA CHARGES HIGH IMPORT TARIFF, WANT A RECIPROCAL TAX:
DONALD TRUMP
India is a very
high-tariff nation US President Donald Trump alleged on Saturday, stating that
he wants a reciprocal tax or at least some kind of tax India is a very
high-tariff nation. They charge us a lot, Trump said. Trump touched a wide
range of issues including domestic, global and bilateral relationship with
countries like India. He said, When we send a motorcycle to India, it's a
hundred per cent tariff. They charge 100% when India sends a motorcycle to us,
we brilliantly charge them nothing. So, I want a reciprocal tax or at least, I
want to charge a tax. It's called the mirror tax, but it's reciprocal, Trump
asserted. Look at motorcycles as an example. (In) India, it was 100 per cent. I
got them down to 50%, just by talking for about two minutes. It's still 50% vs
2.4% (on imported motorcycles to the US). Again, other than that, it's a very fair
deal, the president had told reporters at the White House on January 24. I say,
fellows, listen, they are charging us a hundred per cent. For the exact same
product, I want to charge them 25%. I feel so foolish charging 25, because it
should be a hundred. But I'm doing 25 only because of you. I want to get your
support, he said. For one thing, they don't respect us. They think we're
stupid. They don't respect us. But let me tell you something, the world
respects our country again, he said. America is now booming like never before.
Other countries are doing very poorly, Trump said.
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INDIA, US NEAR AMICABLE TRADE DEAL: NEW DELHI TO REPLACE PRICE
CAP FOR STENTS, US MAY LIFT LEVY ON STEEL
Ending months of
negotiations, India and the US could soon clinch a trade deal, resolving vexed
issues like extra American tariff on Indian steel and New Delhi’s price cap
policy for medical equipment, while granting each other greater market access
in sectors including agriculture. Though Washington is yet to make its final
offer, as part of the deal, India will likely replace its extant price cap
regime for coronary stents with a trade margin policy, similar to the one
notified last week for 42 cancer drugs. India is also likely to accede to the
US demand to scrap/cut duties on seven ICT products, including mobile phones
costing over 10,000, smart watches and telecom network equipment. Currently,
these items attract up to 20% customs duties. For its part, the US has
indicated that it will allow an exemption to India from its extra 25% levy on
stipulated steel products, provided New Delhi offers to cap the volume of its
annual supplies to the average of the past three years, official sources said. They
added that New Delhi is willing to allow up to 30% margin over the cost of
stent production. The move is aimed at easing concerns of American
manufacturers like Abbott Laboratories and Boston Scientific Corp, while
keeping a leash on huge margins cornered by intermediaries at the cost of
patients. In 2017, the Indian drug pricing regulator slashed prices of coronary
stents by as much as 85% and slightly revised the rates last year. India has
sent its proposals to the US. The Trump administration is expected to take a
call on these and convey its final position to India soon, said one of the
sources. India also wants the US to delink its demand for greater market access
from New Delhi to the so-called generalised system of preference (GSP). Reuters
recently reported that India could lose the 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.
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WANT PERMANENT SEAT FOR INDIA IN REFORMED UN SECURITY COUNCIL:
FRANCE
France, which assumed the
March Presidency of the United Nations Security Council, has reiterated its support
for India as the permanent member of the powerful UN organ saying the UNSC's
enlargement is the first crucial part towards its reform. India has been
calling for the reform of the UN Security Council along with Brazil, Germany
and Japan for long, emphasising that it rightly deserves a place at the UN high
table as a permanent member. France, a veto-wielding permanent member of the
15-nation Security Council, last month moved a fresh proposal in the UNSC along
with the US and the UK to designate Pakistan-based terror group
Jaish-e-Mohammed chief Masood Azhar as a global terrorist. We want enlargement
of the Security Council in the two categories of non-permanent and permanent
categories - India, Brazil, Germany and Japan - and equitable representation of
Africans and so that is the first crucial part of it, French Permanent
Representative to the UN Franois Delattre told. Heusgen, said that the key to
UN reform is openness through three different areas - the openness of the
Security Council that entails expansion of the 15-nation, partnership and
openness to civil society. Germany will take over the Presidency in April. He
stressed that the UN cannot be recognised as a centre of gravity for
multilateralism throughout the world unless it can step-up partnerships and
focus should also be made on openness to civil society, business world, NGOs
and trade unions, which are all stakeholders that breathe life into the UN. India
is at the forefront of efforts at the UN to push for urgent long-pending
reforms of the Security Council.
#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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