TAXATION UPDATES 16.03.2019

GOVT BANKING ON ADVANCE TAX PAYMENT TO MEET DIRECT TAX TARGET OF RS 12 TRN

With fiscal math under pressure due to lower buoyancy in tax collection, the government is eyeing advance tax payment to meet the revised Budget target of Rs 12 trillion for the current fiscal. According to sources, efforts are being made to make up for the shortfall in direct tax collection, but the revised target seems to be daunting. The government had earlier estimated Rs 11.5 trillion mop-up from direct tax collection. The increase of Rs 50,000 crore in the interim Budget 2019-20 has made the task of achieving the revised target a difficult proposition for the Central Board of Direct Taxes (CBDT), sources said adding the shortfall seems to be imminent. However, the clarity on the exact quantum of shortfall would emerge only after the final figure of advance tax collection comes, sources said. Net direct tax collection during April-January of this fiscal stood at Rs 7.89 trillion against Rs 12 trillion targeted for the entire fiscal. To meet the shortfall, CBDT chairman P C Mody held a meeting with senior tax officials to review collection figures ahead of the deadline of advance tax payment of Friday. Besides, the board has been issuing an advisory asking the taxpayers to pay the fourth and last installment of advance tax for the current fiscal. Under the Income Tax Act, any assessee, including salaried employee whose estimated tax liability for an year exceeds Rs 10,000 needs to pay advance tax. With the tax department staring at the deficit in collection, there are apprehensions that corporates may have to pay more in the last installment and claim refund in the next fiscal. As a result of this, the gap between the target and actual realisation is narrowed for the current fiscal. It is to be noted that the government has been putting on a brave face as far as meeting direct tax collection target is concerned. On direct taxes, we are reasonably confident of (meeting the target). But on the indirect tax front, there may be some shortfall, Economic Affairs Secretary Subhash Chandra Garg said on Thursday. The government in the interim Budget revised customs collection target from Rs 1.12 trillion to Rs 1.30 trillion. GST collection is pegged at Rs 6.43 trillion, which is lower than the targeted Rs 7.43 trillion. GST collection, however, is expected to rise to Rs 7.61 trillion in next fiscal.

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INDIRECT TAX COLLECTION MAY FALL SHORT, SAYS GARG

While the government is reasonably confident of meeting its direct tax collection target for the current financial year, indirect tax collection may fall short, S.C. Garg, Finance Secretary, said. Direct tax we are reasonably confident. Indirect tax there may be some shortfall Mr. Garg said. GST collections in February dropped to ₹97,247 crore in February from ₹1.02 lakh crore in the previous month.

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SIGNING OF BILATERAL AGREEMENT FOR EXCHANGE OF COUNTRY-BY-COUNTRY (CBC) REPORTS BETWEEN INDIA AND THE USA

Sub-section (4) of Section 286 of the Income-tax Act, 1961 requires that a constituent entity of an international group, resident in India, other than a parent entity or an alternate reporting entity of an international group, resident in India, shall furnish the Country-by-Country (CbC) Report in respect of the said international Group for a reporting accounting year within the period as may be prescribed, if the parent entity of the said International Group is resident of a country or territory —

Ø where the parent entity is not obligated to file the CbC Report;

Ø with which India does not have an agreement providing for exchange of the CbC Report; or

Ø where there has been a systemic failure of the country or territory and the said failure has been intimated by the prescribed authority to such constituent entity.

Vide Notification in GSR 1217 (E) dated 18th December, 2018 with effect from 18th December, 2018, amendments to the Income-tax Rules. 1962 (the Rules) have been carried out to provide that the period for furnishing of the CbC report (local filing) shall be twelve months from the end of the reporting accounting year. Further, vide Circular No.9/2018, dated 26th December, 2018, CBDT as a one-time measure, in exercise of powers conferred under section 119 of the Act, extended the period for furnishing of the CbC Report (local filing) in respect of reporting accounting years ending on or before 28th February, 2018 up to 31st March, 2019. The absence of an Agreement between India and USA till now entailed a possibility of local filing of CbC Reports in India. However, a Bilateral Competent Authority Arrangement, along with an underlying Inter-Governmental Agreement, for exchange of CbC Reports between India and the USA has now been finalized and will be signed on or before 31st March, 2019. This would enable both the countries to exchange CbC Reports filed by the ultimate parent entities of International Groups in the respective jurisdictions, pertaining to the financial years commencing on or after 1st January, 2016. As a result, Indian constituent entities of international groups headquartered in USA, who have already filed CbC Reports in the USA, would not be required to do local filing of the CbC Reports of their international groups in India.

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OPT FOR COMPOSITION SCHEME TILL 31ST MARCH, FILE ITC-03 BEFORE 30TH JULY: GST PORTAL

The Goods and Services Tax portal has mandated that the taxpayers should opt for composition scheme till 31st March 2019 The portal has also reminded that such taxpayers shall file the stock declaration in ITC-03 before 30-09-19. Taxpayers should fill CMP-02 before 31-03-19 to opt-in for Composition for FY 2019-20. Thereafter, the stock declaration in ITC-03 should be filed before 30-09-19, the GSTN said in a statement. Presently, the GST Composition Scheme can be availed by businesses with a turnover of Rs 1.5 crore, against the earlier Rs 1 crore, with effect from April 1. The effective date for availing higher turnover cap of Rs 1.5 crore for availing composition scheme by traders has also been fixed as April 1. The service providers and suppliers of both goods and services with a turnover of up to Rs 50 lakh would be eligible to opt for the GST composition scheme and pay a tax of 6 percent from the beginning of next fiscal.

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I-T DEPARTMENT TO KICKSTART FACELESS VERIFICATION OF RETURNS

In a major step towards income-tax proceedings becoming completely faceless, the Income Tax Department under the finance ministry will launch a new mechanism to verify taxpayers' returns shortly A notification in this regard was issued by the finance ministry on Wednesday. A Central Verification Centre (CVC) has been set up by the department to carry out e-verification of the 'red-flagged' cases of income-tax returns. The new facility will verify income-tax returns of individuals as well as companies. The system will red-flag returns filed by taxpayers on the basis of around 200 odd risk assessment parameters set by the department. These cases will be taken up for e-verification by taxman. Currently, while a large number of returns may have discrepancies, only about 0.5% of the total returns filed are picked up for a random scrutiny. The manual verification of all the returns, however, is not possible. Now with the new e-verification system, all the income-tax returns filed by taxpayers will be matched with the financial data available with the department, which it gets from various sources. If any discrepancy is found, the system-generated e-mail notices will be sent to taxpayers seeking responses. The entire process will be faceless without involving any human interaction, said a senior official privy to the developments. The new system of online verification will have the system-generated questionnaires with multiple choice questions. The replies of assessees would be in the machine-readable XML format, eliminating the need for manual reading of the responses. The department had been working on the plan to make the entire process of verification as well as scrutiny completely faceless. With the e-verification process kicking in, the verification process will become faster, crisper, transparent and efficient. This will also help in taxpayers filing their income details correctly, said Aditya Vikram. CBDT is the apex policy making body of the I-T department. The next step will be to make the scrutiny process fully automated and completely faceless where the assessee wouldn't know who is the assessing officer. This will be a part of the next generation of Central Processing Centre (CPC) to come up at Bengaluru. The centre will allow faster processing of income-tax returns. The finance ministry's revenue department plans to put in place a mechanism in the next two years to ensure that income tax returns are processed and refunds are issued 24 hours.

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COS CAN RAISE PRODUCT WEIGHT IN LIEU OF PRICE CUT TO PASS ON GST BENEFIT

Increasing the grammage of various products instead of an outright price cut post a reduction in GST rates won’t result in flouting the anti-profiteering clause under the GST norms. However, the benefits have to passed onto the consumers at the SKU level. According to B N Sharma, chairman of the National Anti-Profiteering Authority (NAA), who was talking to various members of the Merchants’ Chamber of Commerce and Industry at an interactive session in Kolkata, although the law mandates that companies have to cut prices on goods if the GST is lowered for those products, in spirit of the legislative intent, it is also acceptable to the NAA if companies resort to increase the volume of the product. However, the grammage increase has to be proportionate to the benefit arising of the tax rate cut; there should be time element in it – for example, GST rate is reduced in January and the company increases its grammage in April – that is not acceptable; and it should not be clubbed with any ongoing business promotions, Sharma said. Besides, Sharma said that companies cannot claim to have passed the benefits of GST to consumers by reducing prices of some products while the prices of the other products from the same company remain at pre-revision levels. The benefits should be extended to all the products and not just to some products, he said. Even companies which are incurring losses have to comply with these norms and pass the benefits of GST rate cuts to the consumer. Moreover, the benefit has to be passed onto the consumers at the SKU level rather than a few limited product pack sizes. SKU or stock keeping unit refers to individual packages which can be same or different products. However, he clarified that NAA is not a price regulator and companies are at will to increase prices post any reduction in GST rates but it should be justified. While responding to a query, Sharma said that any price increase which occurs just immediately after a rate reduction would attract trouble. There can be rise in inputs costs and other factors which may require revision of price but it can’t be that your input prices go up on the very midnight when GST rates are slashed, he said. He suggested that the benefits occurring on account of lowering of GST rates should be practised right from the supplying and manufacturing stage.

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GST: MAHARASHTRA NOTIFIES REVISED PROCEDURE FOR APPLICATION FOR ADVANCE RULINGS AND APPEALS

The Goods and Services Tax department, Maharashtra has notified the revised procedure for filing Advance Rulings applications and connected appeals The notification prescribes the detailed procedure to file applications online by paying a fee of Rs. 10,000 The notification stated that the application for Advance Ruling shall not be admitted as per section 98(2) in cases where the question raised in the application is already pending or decided in any proceedings in the case of an applicant under any of the provisions of CGST/MGST Act. If the application is rejected, it should be only after an opportunity of being heard is provided to the applicant and by way of a speaking Order giving the reasons for rejection, it said. Orders passed by AAR can be viewed at www.mahagst.gov.in. Orders passed by AAR can also be viewed on the portal of Goods and Services Tax Council www.gstcouncil.gov.in/advance-rulings. MIS Report of the Orders passed by various AAR is available on the portal of Goods and Services Tax Council www.gstcouncil.gov.in/advance-rulings. With regard to appeal, the notification said that the Appellate Authority must pass an order after hearing the parties to the appeal within a period of ninety days of the filing of an appeal. If members of AAAR differ on any point referred to in appeal, it shall be deemed that no Advance Ruling is issued in respect of the question under appeal.

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CREATION OF NATIONAL BENCH OF THE GST APPELLATE TRIBUNAL (GSTAT) AT NEW DELHI

In exercise of the powers conferred by the section 109 of the Central Goods and Services Tax Act, 2017, the Central Government, on the recommendation of the Council, hereby notifies the creation of the National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT) at New Delhi, with effect from the date of publication (i.e. 13-03-19) of this notification in the Gazette of India (Extraordinary).

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MANUALLY/PAPER FILED ITRS CAN ALSO BE NOW REVISED ONLINE. FACILITY ENABLED IN E-FILING PORTAL

The facility to upload Revised Return for the returns filed manually (Paper Filed Returns) is now enabled in e-Filing Portal Taxpayer are required to suffix ‘0’ (Zeros) in case the acknowledgment number of the original paper filed return is less than 15 digits. Example – Paper Filed Return Acknowledgement Number is – ‘1123456211’, in eFiled return the taxpayer needs to suffix the Acknowledgment number as ‘112345621100000. When a taxpayer discovers any omission or any wrong statement in the original Income Tax Return (ITR) submitted, the same can be corrected by filing a revised return in the e-Filing portal. A Revised Return can be filed at any time before the end of relevant Assessment Year (AY) or before the completion of assessment, whichever is earlier.

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CBDT DESIGNATES CIT-TAX E-VERIFICATION WITH ALL INDIA JURISDICTION FOR CENTRALISED ISSUANCE OF NOTICE

In pursuance of the powers conferred by sub-sections (1) and (2) of section 120 of the Income tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby–

(a) directs that the Commissioner of Income-tax specified in column (1) of the Schedule annexed hereto, having his headquarter at the place specified in the corresponding entry in column (2) of the said Schedule, to exercise the concurrent powers in addition to any other authority under the Income-tax Act–

(i) for the purpose of centralised issuance of notice and for collection and processing of information or documents and making available the outcome of the collection and processing under sub-sections (1) and (2) of section 133C of the Income-tax Act, 1961;

(ii) to specify the format and manner of response expected from the assessee and to call for information under section 133 of the Income-tax Act, 1961 and corresponding provisions of Chapter XXI (Penalties imposable), Chapter-XXII (Offences and Prosecution) and other provisions incidental thereto of the said Act; and

(iii) under section 285BA of the Income-tax Act, 1961 and corresponding provisions of Chapter XXI (Penalties imposable), Chapter-XXII (Offences and Prosecution) and other provisions incidental thereto of the said Act; in respect of such territorial area or such cases or class of cases or such persons or class of persons specified in the corresponding entry in column (3) of the said Schedule and in respect of all income or class of income thereof;

(b) authorises the Commissioner of Income-tax specified in column (1) of the said Schedule to issue orders in writing for exercise of powers and performance of functions by the Additional Commissioners or Joint Commissioners of Income-tax, who are subordinate to him, in respect of such territorial area or such persons or classes of persons or of such income or class of income or of such cases or class of cases specified in the corresponding entry in column (3) of the said Schedule;

(c) authorises the Additional Commissioners or Joint Commissioners of Income-tax referred to in clause (b), to issue orders in writing for the exercise of the powers and performance of the functions by the Assessing Officers, who are subordinate to them, in respect of such territorial area or such persons or class of persons or income or class of income, or cases or class of cases specified in the corresponding entry in column (3) of the said Schedule, in respect of which such Additional Commissioners or Joint Commissioners of Income-tax are authorised by the Commissioner of Income-tax under clause (b).

Commissioner of Income-tax (e-Verification) - Delhi - All cases of persons in respect of all incomes within the limits of all States and Union territories of India with respect to whom there is any information in the possession of Directorate of Income-tax (Systems), Central Board of Direct Taxes.

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CBDT EXEMPTS INCOME OF PRAYAGRAJ MELA PRADHIKARAN U/S 10(46) OF THE INCOME-TAX ACT

In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Prayagraj Mela Pradhikaran, Prayagraj’ an authority constituted by the State Government of Uttar Pradesh, in respect of the following specified income arising to that authority, namely:—

(a) Grant-in-aid received from any Central Government, State Government or other authority;

(b) Tolls on the parking of vehicle or entering any vehicle or any person bringing goods for sale or for demonstration/ advertisement into the Mela area;

(c) Fee on the registration of activity of business, trade or profession;

(d) Fee on the services provided to individual as service charge;

(e) Any other charge and fee in Mela Area levied by authority as per the provisions of the Uttar Pradesh Prayagraj Mela Authority, Allahabad Act, 2017 (U. P. Act No. 5 of 2018); and

(f) Interest earned on (a) to (e) above.

This notification shall be effective subject to the conditions that Prayagraj Mela Pradhikaran, Prayagraj,—

(a) shall not engage in any commercial activity;

(b) activities and the nature of the specified income shall remain unchanged throughout the financial years; and

(c) shall file return of income in accordance with the provision of clause (g) of sub-section (4C) of section 139 of the Income-tax Act, 1961.

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ITAT SHIELDS TAX SOPS ON 2ND HOUSE

The Income-Tax Appellate Tribunal (ITAT)’s Mumbai bench has held that the investment-linked capital gains tax exemption available on purchase of a new house, cannot be denied to a taxpayer merely for not investing the capital gain proceeds. The I-T officer had denied the tax benefit as the investment made towards purchase of the new house was not out of the taxpayer’s own funds. The commission (appeals) agreed with this stand. The taxpayer thereafter approached the ITAT, which passed an order in her favour. Capital gains are taxable under the I-T Act. If a taxpayer makes a profit on the sale of a residential house held for at least two years, then such profit is treated as a long-term capital gain (LTCG). This gain is taxable at 20% with an adjustment for inflation, referred to as indexation benefit. The new house needs to be purchased either within a period of one year prior to or two years from the date of the sale of the old house. This tax benefit is also available if the taxpayer constructs a new residence within three years from the date of the old house’s sale. In this case, which was decided by the ITAT on March 8, taxpayer Neelam Nananni had invested nearly Rs 69 lakh in a new house. The LTCG computed by the I-T officer was much lower at Rs 58 lakh. In other words, the quantum of investment towards purchase of the new house was much more than the LTCG. The I-T department submitted to the ITAT that if the investment is not made out of capital gain proceeds the taxpayer’s claim of deduction under Section 54 is not allowable The ITAT differed and held: On a careful reading of Section 54, as a whole, we do not find any restriction or condition imposed mandating investment of the capital gain or sale proceeds towards purchase of new house for claiming deduction. As the investment towards purchase of the new house was made within the stipulated time, it held that the taxpayer was entitled to claim the benefit. As Section 54 even permits purchase of a new residential house, up to one year, prior to the sale of the old house, when obviously the capital gain would not yet have arisen, it is clear that other funds can be used, says Sengupta.

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GST APPELLATE BODY CLEARS AIR ON TAX CREDIT FOR SWEET SHOP VS RESTAURANT

An owner of a restaurant and sweet shop who runs both set-ups from the same premises will be eligible for input tax credit (ITC) for his sweet shop under the GST regime, as long as the accounts of the two businesses are maintained separately, at least in Uttarakand. The appellate authority for advance ruling (AAAR) of the state set aside AAR ruling in this matter. Explaining the case, Harpreet Singh, said AAR had ruled that the sweet shop will be regarded as extension of restaurant. As such, GST at the rate of five per cent would be imposed on on the condition that input tax charged on goods and services used has not been set off. This would be applicable to all items, including takeaways, sold from the sweet shop. Restaurants draw five per cent GST, but ITC is not given. The shop owner appealed to AAAR against the order, contending that items sold from the sweet shop and restaurant cannot be taken as composite supply. AAAR set aside AAR order It ruled that items sold from the sweet shop would draw applicable GST rates and ITC would be given. On the other hand, items sold at the restaurant would draw five per cent GST without ITC. This, however, is subject to the provision that the owner of the two businesses maintains separate records for each with respect to input and output and billings, along with other accounting records, AAAR ruled. The ruling may have repercussions for many other different scenarios, such as an outlet selling eatables in a mall.

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UNUSED INPUT TAX CREDIT FOR UNDER-CONSTRUCTION HOUSES TO BE REVERSED

The unused Input Tax Credit (ITC) on goods and services lying with the property developers as on March 31 will be reversed for under-construction properties since the ITC stands to lapse from April 1 for such houses. This (unused ITC lying in the ledger of the developers) has to be reversed as ITC benefits available to them will lapse from April 1 and can not be passed on to the buyers, said a source, adding this is the suggestion from the GST Fitment and Law panel which is currently making the rules. From April 1 new rates will apply without ITC where 5 per cent will be charged for and 1 per cent will be the rate for affordable housing, said the source. The reverse would take place through the monthly return file by GSTR3B. GSTR-3B is a monthly return required to be filed by all regular taxpayers till March 2019.

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ICAI MANDATES UDIN FOR GST & TAX AUDIT REPORTS

The Institute of Chartered Accountants of India (ICAI) has announced that in the second phase, the Unique Document Identification Number would be mandatory for all the GST and Tax reports. An announcement made by the Institute said that it has been made mandatory as per the Council decision taken at its 379th Meeting held on 17th – 18th December, 2018 in the following phases,

(i) All Certification done by Practicing CAs w.e.f. 1st February 2019.

(ii) All GST & Tax Audit Reports w.e.f. 1st April, 2019 and

(iii) All other attest functions w.e.f. 1st July, 2019.

Since 1st February 2019 all certificates issued by Chartered Accountants had been made mandatory. Now in 2nd phase, w.e.f 1st April, 2019, UDIN is being made mandatory for GST & Tax Audit Reports. Members are requested to make a note of above schedule of mandating UDIN and also adhere to the same while conducting Bank Audits, ICAI said. Further, the ICAI clarified that for generating UDIN, no certificates are required to be uploaded on the portal.

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INDIA TO SEEK BETTER DEAL FOR EXPORTERS UNDER FTAS: COMMERCE SECY ANUP WADHAWAN

India is in discussions with its key trading partners to expand preferential duties under free trade agreements (FTAs) even as the government is streamlining procedures for exporters to avail benefits from such trade pacts, Commerce Secretary Anup Wadhawan has said. Since we have a large exporter community here, I wish to draw attention to the under-utilisation of our FTAs. Data shows that Indian exporters have not made very good use of FTA and preferential benefits that India has negotiated with partner countries, Wadhawan said. The government is in the process of further streamlining procedures for exporters to avail benefits offered under trading opening pacts, he said, while urging exporters to use the tariff preferences provided by FTAs to enhance their market presence globally. India has already concluded FTAs, also known as comprehensive economic partnership agreements or preferential trade agreements or comprehensive economic cooperation agreements, with important trading partners including ASEAN, South Korea, Japan, Malaysia, Chile and Singapore.

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TATA SONS WINS APPEAL AGAINST ASSESSING RS 759 CRORE AS INCOME

The Income Tax Appellate Tribunal (ITAT) has quashed an order assessing Rs 759 crore as income in the hands of Tata Sons as due provisions were not followed as regards jurisdiction over the assessment and transfer of the case. Tata Sons had declared an income of Rs 22 crore in its I-T return for 2003-04. The determination of a higher income by the additional commissioner of income-tax led to Tata Sons filing additional grounds of appeal before the ITAT. Tata Sons submitted that the assessment order was bad in law and illegal. The additional CIT had failed to establish that he possessed legal and valid jurisdictions under section 120(4)(b) of the I-T Act to pass this order. Under the provisions of this section, the additional CIT can exercise the powers of an assessing office only if he is specifically directed by higher authorities. Further, section 127(1) provides that a proper order transferring the case needs to be passed by the commissioner, after recording the reasons for doing so. The ITAT noted that in this case the I-T department had not been able to demonstrate that the additional CIT, who had passed the assessment order, had valid authority. Nor was a written order for transfer made available to the ITAT. Based on these facts and previous judicial decisions, including that of the ITAT in the case of Tata Sons for earlier years, the ITAT quashed the assessment order. The cross appeal filed by the I-T department was also dismissed. Tata Sons, the holding company of the $111-billion Tata Group, earns its income through dividends, royalty fees, among others. The bulk of its income comes from its investment in TCS, which has a market cap of nearly Rs 8 lakh crore.

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TAXMEN SEEK NATIONAL SPOT EXCHANGE INVESTOR DETAILS

The Income Tax (IT) department has sent notices to NSEL’s clients under section 133 (6) of the IT Act, which empowers the authorities to call for detailed financial information that might be relevant for enquiries or proceedings in a case. The notices came after a Serious Fraud Investigation Office (SFIO) report had said that investors on NSEL could have evaded paying income tax in FY12 and FY13. The agency has sought details from registered traders about matters such as trades on NSEL, ledger account of NSEL, and a copy of the audited books of accounts. An assessing officer can call for this information. Once information is received and he suspects tax evasion he could take action by initiating scrutiny assessments, explained an official aware of the notices. Both Delhi and Mumbai wings of the I-T department have issued these notices to investors, official sources said. The SFIO, tasked with probing financial crimes, had said that claims of Rs 935 crore, of a total Rs 2,239.6 crore by 7,217 clients, could be doubtful It sought information from 12,735 investors who lost money on NSEL. Of these, 7,217 responded, leaving a gap with the official records at the bankrupt bourse. Clients losing money had traded through non-defaulting brokers. SFIO said that of the 7,217 clients, 2,897 did not respond to questions on tax returns. The amount claimed by these clients is Rs 823.7 crore. There are 230 clients, with claims of Rs 27.68 crore, who said they hadn’t filed tax returns. There are also 14 alleged shell companies, with claims of Rs 15.87 crore. The SFIO report also states that there are 781 clients who have received more than Rs 1 crore, aggregating to about Rs 3,600 crore. SFIO found there were 6,445 clients who filed claims exceeding Rs 2 lakhs and up to Rs 10 lakh. Of them, 3,447 have filed their claims, raising suspicion on the genuineness of the remaining claimants. Many clients, in their I-T returns, have shown the income earned on NSEL exchange through trading in paired contracts. (They) knew income accruing from paired contracts was in the nature of interest income and not business income. Further, none of the traders got the books audited, the SFIO report said.

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RAFALE CASE: WILL FIRST DECIDE ON CENTRE'S PRELIMINARY OBJECTIONS, SAYS SC

The Supreme Court made it clear on Thursday that it will decide first on the preliminary objections raised by the Centre and then go into the facts of the Rafale fighter jet deal case. A bench headed by Chief Justice Ranjan Gogoi asked the petitioners seeking review of its order to focus on the preliminary objections regarding admissibility of the leaked documents. Only after we decide the preliminary objection raised by the Centre, we will go into the facts of the case, said the bench, also comprising Justices S K Kaul and K M Joseph. At the outset, Attorney General K K Venugopal, appearing for the Centre, claimed privilege over documents pertaining to the Rafale fighter jet deal with France and told the Supreme Court that no one can produce them in the court without the permission of the department concerned Venugopal referred to section 123 of the Evidence Act and provisions of RTI Act to buttress his claim. He told the top court that no one can publish documents which relate to national security as the security of the State supercedes everything. Advocate Prashant Bhushan, one of the petitioners seeking review, opposed the submission and said that the Rafale deal documents, which AG says are privileged, have been published and are already in public domain. Bhushan said that provisions of RTI Act say public interest outweighs other things and no privilege can be claimed except for documents which pertain to intelligence agencies. There is no government-to-government contract in purchasing Rafale jets as there is no sovereign guarantee extended to India by France in the Rs 58,000 crore deal, Bhushan said. He also said the Press Council of India Act provides provisions for protecting sources of journalists.

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CBDT YET TO SET UP ANGEL TAX EXEMPTION INFRASTRUCTURE

The Central Board of Direct Taxes (CBDT) has not started work on setting up the back-end infrastructure required to automatically exempt registered start-ups from angel tax, as had been notified nearly a month ago. The tax department has, however, issued instructions to its zonal officers to fast-track the appeals process for those start-ups that have already received demand orders regarding angel tax and to ensure that no coercive action is taken against them. The DPIIT was to send the names of such start-ups to the CBDT, which was to then incorporate them into its systems, so that such companies would be exempt from angel tax proceedings at the outset. We are yet to implement the infrastructure needed to set up the back-end systems that would automatically receive the names of start-ups from the DPIIT and exempt them from angel tax investigations from the beginning itself, an official in the CBDT told. The Commissioner of Income Tax (Coordination & Systems) has written to zonal officers, providing them the list of start-ups that have already been sent demand notices and has instructed them to fast-track the appeals cases of such firms. I am directed to request you to kindly instruct the concerned authorities in your Zone to identify cases pertaining to them [the registered start-ups] and to ensure that no coercive action is taken in these cases, the internal memorandum, said. I am further directed to request you to kindly ensure that appeals pending in these cases, if any, are disposed of on priority.

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STARBUCKS MAY FACE FINE FOR ‘PROFITEERING’ AFTER GST RATE CUT

The anti-profiteering authority is set to fine coffee chain Starbucks for not reducing prices of its products after the Goods and Services Tax rate cut. The tax authorities had questioned Starbucks about its prices and had issued two sets of letters seeking data after GST was reduced. Starbucks shared data of its prices and costs in a detailed reply to the National Anti-profiteering Authority (NAA), people aware of the matter said. Starbucks had argued that the denial of input tax credits had neutralised the cut in GST and thus its operational costs were not impacted. However, the NAA poked holes in Starbucks’ defence and is close to slapping afine on the company. The NAA order against Starbucks is expected in the next few weeks, a person aware of the matter said.

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ELECTIONS 2019: CONGRESS TO BRING IN SINGLE GST RATE IF VOTED TO POWER

India’s main opposition—the Indian National Congress—will scrap the current structure of goods and services tax and adopt a single GST rate if it wins Lok Sabha Elections 2019, people with knowledge of the matter said. The Congress, led by Rahul Gandhi, will pledge in its manifesto to merge five different GST rates into one pegged at 18% as it prepares for polls slated to run from 11 April to 19 May, the people said, asking not to be identified citing rules for speaking with the media. The Congress has been critical of the current GST regime adopted by Prime Minister Narendra Modi’s administration.

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CHOPPER CASE: NO OBJECTION IF RAJEEV SAXENA BECOMES APPROVER, ED TELLS DELHI COURT

The Enforcement Directorate told a Delhi court on Thursday that it has no objection if Rajeev Saxena, an alleged middleman, is allowed to turn approver in the AgustaWestland money laundering case. Special Judge Arvind Kumar reserved for March 25 the order on whether to allow him to turn approver and become a witness in the case. The court had granted bail to Saxena on a plea moved by his lawyer Shivani Luthra, after the agency did not oppose the application. We are supporting Saxena's plea to become a witness. He has shown his inclination since the beginning to help in the investigation. He deserves the pardon as sought by him. We vehemently support his plea because it will help us in my case, ED's advocate Samvedna Verma told the court. Saxena had recorded his statement during in-chamber proceedings on March 6 after which the court sent the copies of his statement to the special judge hearing the case.

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RAHUL GANDHI SLAMS PM MODI, SAYS CONGRESS DOES NOT IMPOSE ANYTHING ON PEOPLE

Rahul Gandhi Thursday lashed out at Prime Minister Narendra Modi and said unlike him and his party, the BJP, the Congress listens to everyone and does not impose anything upon the people. Gandhi kick-started the state-level campaign of the party for the Lok Sabha polls. Hitting out at Modi, the congress president said the job of the Prime Minister was not to impose his 'Mann ki Baat' but to listen to the Mann ki Baat' of the people. Gandhi alleged that Modi had destroyed all institutions of the country. So the man who imposes his Maan Ki Baat is attacking all the institutions in this country one after another, he said. The Congress does not want to impose anything on this country. The Congress party wants to listen to what the people have to say and act accordingly. That's why the doors of Congress party is open to everyone. Congress party really does not mind what religion you belong, which language you speak, what ideology you follow. That is not an issue to the Congress. We listen to everyone, Gandhi said. He also referred to farmer suicides in Kerala and said when farmers ask for loan waivers, Prime Minister Narendra Modi and Finance minister Arun Jaitley laugh at them.

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WHATEVER HAD TO BE DONE AFTER 26/11 MUMBAI ATTACKS WAS NOT DONE BY UPA GOVT: NIRMALA SITHARAMAN

Nirmala Sitharaman on Thursday claimed that the UPA government did not take the steps it should have after the 26/11 Mumbai attacks and there would have been more deterrence against such terror strikes had it been proactive. she said Prime Minister Narendra Modi has always been talking about a zero tolerance policy against terrorism. Whatever had to be done after 26/11 Mumbai attacks was not done by the previous government. Had it been more proactive, there would have been more deterrence, Sitharaman said. In case of the Pulwama terror attack, in which 40 CRPF men were killed, she said the government waited for 10-12 days and after getting intelligence inputs that suicide bombers were again going to launch attacks, the air force struck their camps in Pakistan, she said.

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CHANDIGARH: SHOW CAUSE NOTICES TO BJP CHIEF, COUNCILLOR FOR VIOLATING MODEL CODE OF CONDUCT

A day after they held an election meet in community centres, show cause notices were issued to BJP city chief Sanjay Tandon, four BJP councillors, two nominated councillors and three officials of Municipal Corporation on Wednesday for violating the model code of conduct According to UT administration, a complaint was received on the C-vigil app Wednesday, following which the Assistant Returning Officer (ARO) took cognizance and thereafter issued notices for convening the election meetings on a government properties– Community Center in Sector 29, Ram Darbar in community centre at Sector 37, Chandigarh. As per the show cause notice to the officials, Political meetings were held on government property that is in community centres sector 29, Ram darbar and sector 37 on March 12 which is a gross violation of the model code of conduct for Lok Sabha election. Allowing holding of political meeting at government building under your jurisdiction of control tantamount to dereliction of your official duties for which strict disciplinary action is requite to be taken against you. The notice asked the officials to reply within 24 hours as to why disciplinary action may not be taken against them.

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NEHRU 'ORIGINAL SINNER', FAVOURED CHINA FOR UNSC'S MEMBERSHIP: JAITLEY

Arun Jaitley Thursday said first Prime Minister Jawaharlal Nehru was the original sinner who favoured China over India for permanent membership into the United Nation Security Council. This comes within hours of Congress President Rahul Gandhi terming Prime Minister Narendra Modi as weak and scared of Chinese President Xi Jinping after Beijing blocked a UN resolution to designate JeM chief Masood Azhar a global terrorist. The original mistake, both on Kashmir and China, was committed by the same person, said Jaitley. Pt. Nehru's infamous letter to Chief Ministers' dated August 2, 1955, states 'Informally, suggestions have been made by the United States that China should be taken into the United Nations but not in the Security Council, & that India should take her place in the Security Council. We cannot, of course, accept this as it means falling out with China and it would be very unfair for a great country like China not to be in the Security Council, he said in a series of tweets. Rahul Gandhi, Jaitley asked, Will the Congress President tell us who the original sinner was? India's bid to designate the chief of Pakistan-based terror group Jaish-e-Mohammed as a global terrorist suffered a setback with China putting a technical hold on a proposal to ban him following the Pulwama terror attack.

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ED MOVES DELHI COURT SEEKING ORDERS TO ARREST LOBBYIST DEEPAK TALWAR IN FRESH CASE

The Enforcement Directorate Thursday moved a Delhi court seeking orders to arrest lobbyist Deepak Talwar in a fresh case related to the purchase of 43 aircraft by erstwhile Indian Airlines from Airbus Industrie of France in 2005. The agency moved the plea before special judge Santosh Snehi Mann, who directed Tihar jail authorities to produce Talwar Friday. The court will hear the matter Friday.

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SC OVERTURNS BCCI'S LIFE BAN ON SREESANTH IN IPL SPOT-FIXING CASE

The Supreme Court Friday set aside the BCCI disciplinary committee's order imposing a life ban on former Indian cricketer S Sreesanth for his alleged involvement in the 2013 IPL spot-fixing scandal. A bench comprising justices Ashok Bhushan and K M Joseph said the disciplinary committee of the Board of Control for Cricket in India (BCCI) may reconsider within three months the quantum of punishment to be given to Sreesanth. The bench made it clear that the former cricketer will get the opportunity of being heard by the committee on the quantum of the punishment. The apex court also said that its verdict shall have no effect on the criminal proceedings pending against the former cricketer in the Delhi High Court, where the Delhi Police has challenged a trial court's order discharging all accused, including Sreesanth, in the IPL spot-fixing case. The bench passed this order on Sreesanth's plea challenging the decision of a division bench of the Kerala High Court which had restored the life ban imposed on him by the BCCI. A single-judge bench of the Kerala High Court had lifted the life ban imposed on the 35-year-old cricketer by the BCCI and had set aside all proceedings against him initiated by the board. Later, the division bench of the high court had restored the ban on a petition filed by the BCCI against the single-judge bench's order.

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SREESANTH BAN ISSUE WILL BE TAKEN UP AT COA MEETING: VINOD RAI

The life ban on S Sreesanth will be discussed when the Committee of Administrators running Indian cricket meets next after the Supreme Court asked the BCCI to reconsider the punishment handed to the pacer for his alleged involvement in the 2013 IPL spot-fixing scandal. A bench comprising justices Ashok Bhushan and K M Joseph said the BCCI’s disciplinary committee may reconsider, within three months, the quantum of punishment to be given to Sreesanth. The bench made it clear that the 36-year-old Sreesanth must be heard by the committee on the quantum of the punishment. Yes, I have heard about the Supreme Court order. We will need to get the copy of the order We will definitely take up the issue at the COA meeting, COA chief Vinod Rai told PTI. The COA is scheduled to meet on March 18 to discuss the anti-doping policy of the Board with the International Cricket Council officials. The issue of Sreesanth’s ban might come up among the COA on that day. With BCCI’s new ombudsman Justice (Retd ) DK Jain and Amicus Curiae PS Narsimha, the matter is expected that the decision will be fast-tracked. BCCI acting president CK Khanna made it clear that it will be completely COA’s call as the onus is on it to implement the apex court’s order. This is a Supreme Court order and obviously a call needs to be taken. I am confident that the issue will come up for serious deliberation at the next COA meeting. As far as Sreesanth being brought back to mainstream cricket, I have no comment to make, Khanna said.

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SC APPOINTS P.S. NARASIMHA AS MEDIATOR TO RESOLVE DISPUTES OF CRICKET ADMINISTRATION IN BCCI

The Supreme Court on Thursday appointed senior advocate P.S. Narasimha, who is assisting the apex court as an amicus curiae in the BCCI matter, as mediator for resolving various disputes related to cricket administration in the country. A bench of Justices S.A. Bobde and A.M. Spare was informed by Mr. Narasimha that former apex court judge Justice (retd) D.K. Jain has assumed charge as the ombudsman of Board of Control for Cricket in India (BCCI). The game must go on, the bench said, asking Mr. Narasimha to act as mediator in the cricket administration disputes.

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LIQUOR WORTH RS 1 CR SEIZED IN GUJARAT SINCE POLL ANNOUNCEMENT

Only four days have passed since the Model Code of Conduct (MCC) came into force following announcement of Lok Sabha polls by the Election Commission (EC), and the Gujarat police has already seized liquor of worth Rs 1.06 crore in the meantime. At an average, about 10,000 litres of liquor was seized per day and the total seizure made till Wednesday afternoon was recorded at 31,885 litres. Nodal officer for law and order in state appointed by EC for elections and Additional Director General of Police in Gujarat Sanjay Srivastava said that the authorities would ensure that liquor prohibition was implemented strictly across the state. The police registered total 2,256 cases related to liquor prohibition and arrested 1,827 persons in the same. The police have seized Indian Made Foreign Liquor (IMFL) of worth Rs. 1.06 crore while 1.86 lakh litres countrymade liquor has been also captured. Total seizure including mobile, vehicles and other sums up to be 1.64 crores under these raids, Srivastava said. The officer also added that out of total 56,890 weapons with licence in state, the holders have deposited 10,023 weapons. The authorities have been also keeping watch over cash transportation. The limit for common people to carry cash is Rs. 10 lakh and 1kg of bullion materials including gold, silver and others. Meanwhile, the EC has rejected the appeal by the Bharatiya Janata Party (BJP) against Congress party for holding working committees meeting in Ahmedabad at Sardar Patel Memorial building which was maintained by the grants of Gujarat government. The CEO said that the complaint filed by BJP was scrutinised by the district election officer (collector) and the claim was ruled out.

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GUJARAT: I-T TEAMS TO CURB MONEY POWER IN LOK SABHA ELECTIONS

Officials of Income Tax department have set up teams to monitor misuse of money during campaigning for Lok Sabha They have set up 33 teams in each district of the state, which will coordinate with local police and civil administration to keep an eye on the movement of cash. Special arrangements have been made at airports to keep a watch on the transport of gold and other bullion. Total 404 officials have been deployed on duty. With Model Code of Conduct for general elections in place, the Income Tax Department has the mandate to monitor the expenditure. We are given the responsibility to curb the misuse of black money during elections, said Amit Jain. Accordingly, the Standard Operating Procedures (SOPs) have been activated. A round-the-clock control room has been set up in Ahmedabad, which will gather the information on the use of black money and transfer it to relevant authorities on a real-time basis. A team of officials has been created in each of the 33 districts which will coordinate with local civil and police administration. Teams will conduct necessary verification. Those who carry cash, need to substantiate the source of the cash and should have a valid reason as well as be able to establish their identity, said Jain. Accordingly, if one is found to be carrying Rs 10 lakh or more in cash, and does not have a reasonable explanation, then the district teams have to report the matter to IT department.

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HUGE BLOW TO CONGRESS AHEAD OF LOK SABHA POLLS, CLOSE SONIA GANDHI AIDE TOM VADAKKAN JOINS BJP

In a major blow to the Congress party ahead of the Lok Sabha elections, senior Congress leader and close Sonia Gandhi aide Tom Vadakkan joined the Bharatiya Janata Party (BJP) on Thursday. Vadakkan, a close aide of UPA chairperson Sonia Gandhi, was former AICC Secretary. A senior Congress leader from Kerala, he held various positions in the party. When you question the integrity of the Armed Forces, I am deeply hurt and that's precisely the reason why I am here, he said. I left Congress party because when Pakistani terrorists attacked our land, my party's reaction to it was sad, it hurt me deeply. If a political party takes such a position that is against the country then I'm left with no option but to leave the party, he said.

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FORTY KILLED, MORE THAN 20 INJURED IN NZ MOSQUE SHOOTINGS: NEW ZEALAND PM

Forty people were killed and more than 20 seriously wounded in mass shootings at two mosques in New Zealand's Christchurch on Friday, Prime Minister Jacinda Ardern said. Ardern said New Zealand had been placed on its highest security threat level. She said four people in police custody held extremist views, but had not been on any police watchlists.

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FRANCE FREEZES ASSETS OF JAISH-E-MOHAMMED FOUNDER MASOOD AZHAR

France on Friday decided to sanction Masood Azhar at the national level by freezing his assets in application of the Monetary and Financial Code. A joint decree of the Ministries of the Interior, and Economy and Finance was published in the Official Gazette. France has always been and always will be by India’s side in the fight against terrorism, the statement added. It was France that initiated UNSC statement on Pulwama and later proposal to sanction Azhar under 1267 sanctions committee. We will raise this issue with our European partners with a view to including Masood Azhar on the European Union list of persons, groups and entities involved in terrorist acts, based on this decree.

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AFTER CHINA’S MASOOD AZHAR BLOCK, UNSC VOTE UNDER CONSIDERATION

Key United Nations Security Council (UNSC) members, including the US, may bring a resolution asking for a UNSC vote to designate Jaish-e-Mohammad chief Masood Azhar as a global terrorist. This possible move comes after China, for the fourth time, blocked the resolution on Azhar under the 1267 Sanctions Committee list. A UNSC vote will not have the teeth of a resolution under the 1267 Sanctions Committee, which would have resulted in a travel ban on Azhar and a freezing of his assets. But, senior officials, who spoke on condition of anonymity, said a UNSC vote designating the JeM chief a terrorist will have a significant naming and shaming effect. However, China, as a permanent member of UNSC, can veto such a proposal as well. US diplomats, following China’s fourth blocking of the 1267 resolution, are of the view that Washington may be forced to pursue other actions at the UNSC if Beijing continued with this policy. Asking for a vote on declaring Azhar a terrorist falls under this ambit, senior officials said. India’s diplomats feel most UNSC permanent and non-permanent members will vote for such a resolution. Among nonpermanent members, Germany, Poland and Belgium were cosponsors to the 1267 resolution, as were Australia, Bangladesh, Italy and Japan. Russia, besides the UK, France and the US, were cosponsors among permanent UNSC members. An American diplomat, who did not wish to be identified, said: If China is serious about counter-terrorism, it should not protect terrorists from Pakistan or any other country from being held accountable to the Council. If China continues to block Azhar’s designation as a terrorist, responsible member states may be forced to pursue other actions at the Security Council. There’s also an attempt made by the European Union, led by Germany and France, to list Azhar as a terrorist under an EUIndia list. This would ensure that Azhar will in all practical purposes be a designated terrorist in the EU and India. China may stall the process in UNSC but a listing by the EU will be effective to an extent and it will also be a signal to the world. The initial process towards this has been launched, a senior official said. Separately, Russia indicated it will like to work more with India on the Azhar issue at the UN.

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INDIA RULES OUT RETALIATION OVER CHINA’S JEM SUPPORT

India has ruled out any retaliatory or unilateral action against China but said it will continue its efforts to correct its burgeoning trade deficit with the country after Beijing blocked the UN Security Council resolution to designate Jaish-e-Mohammad (JeM) chief Masood Azhar as a global terrorist. China, which is India’s largest trading partner, had a trade surplus of $41.2 billion in the nine months to December 2019 on a total bilateral trade of $66.4 billion. Reducing our balance of trade with China is the most important issue and we will continue to work to correct it in regular course said an official in the know of the details in the wake of #BoycottChineseProducts trending high on Twitter.

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CHINA BACKS ‘IRON BROTHER’ PAKISTAN WITH PRIMARY WEAPONS AND COMPLEX EXERCISES

The international community may be urging Pakistan to act on terror organisations operating from its soil but relations with ‘iron brother’ China have gone from strength to strength over the past decade, with Beijing not only emerging as its main weapons supplier but also the preferred training partner for complex military exercises, including the use of modern technology for air battle. China has far surpassed the US as the biggest weapons supplier to Pakistan and the partnership is expected to increase in coming years-last year Beijing officially declared its largest defence export deal worth over $4 billion to supply eight new submarines to Pakistan that will augment its fleet of French origin boats. Statistics available from international arms sales tracker SIPRI show that Pakistan, followed by Bangladesh and Myanmar, are the biggest purchasers of Chinese weapons and indicate that the weapons being transferred are growing increasingly sophisticated — from tanks and trainer aircraft in the past to modern fighter jets and even unmanned combat aerial vehicles. On the training front, China has been supporting several major war games to hone Pakistan’s combat abilities with the newly-supplied weapons. The latest exercise was the Shaheen VII — an air force exercise for which China sent not only its fighter jets but early warning aircraft as well. SIPRI data shows that in the past 10 years (2008-18), China has supplied weapons worth over $6.4 billion to Pakistan with the US coming a distant second at $2.5 billion. Italy stands at third place with a miniscule $471 million. China, which has been pitching itself as a major exporter of arms, has also found a good partner in Pakistan as an easy first customer for several of its platforms for sale. In the past decade, Pakistan has been China’s biggest export destination for arms, followed by Bangladesh that bought $1.9 billion worth of equipment. Another of India’s neighbour, Myanmar, is at number three in China’s export list at $1.2 billion.

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CASE AGAINST BOOKMYSHOW, PVR FOR LEVYING INTERNET HANDLING FEE ON CUSTOMERS

It is a lot easier to book a movie ticket online through an application on your mobile phone or a website on your computer, but have you ever wondered what this extra ‘internet handling fee’ that you pay against each ticket means? An RTI query with the Reserve Bank of India (RBI) reveals that these platforms providing movie ticket booking services do not have any authority to levy handling fees on customers and that they are in violation of the RBI’s Merchant Discount Rate (MDR) regulations. The MDR is a payment gateway fee paid by the merchant to the bank for accepting customer payments via debit or credit cards. The RBI, in its response to an RTI query filed by Vijay Gopal, stated that the fee has to be paid to banks by merchants for internet-based online transactions. But when it comes to movie tickets, this fee is now being passed on to the consumer by online ticket booking portals, like BookMyShow for instance. BookMyShow gives all theatres featured on their portal an option to levy the payment gateway fee on the customer in the form of internet handling fees, when in fact, the theatres are supposed to pay that amount to the bank for each debit/credit card transaction. Forum Against Corruption moved a consumer court in Hyderabad against BookMyShow and PVR, as well as the Department of Information Technology under the Ministry of Electronics and Information Technology. The case is expected to be heard on March 23. This particular fee covers more than just TDRS. This cost actually encompasses the pretty large infrastructure spends the cinemas need to incur in order to run efficient online ticketing engines. So when any if these players allow you to log on through an app or website, keeping it running takes a lot of money. The cost of infrastructure to keep this going is big, he told TNM.

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US SENATE DEFIES TRUMP, VOTES TO END SUPPORT FOR YEMEN WAR

The US Senate dealt a stinging bipartisan rebuke of Donald Trump's foreign policy and his alliance with Riyadh, voting to end support for the bloody Saudi-led war effort in Yemen. By a 54 to 46 tally, lawmakers in the Republican-controlled chamber approved on Wednesday a historic curtailment of presidential war powers, citing congressional authority under the decades-old War Powers Resolution to direct Trump to remove United States Armed Forces from hostilities in or affecting the Republic of Yemen. The text now heads to the Democrat-led House of Representatives, which approved a similar measure that stalled earlier this year, and which is likely to pass the latest effort. The White House has threatened a veto.

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U.K. PARLIAMENT REJECTS NO-DEAL BREXIT

The British government has suffered another significant defeat as MPs voted to reject a no-deal Brexit at any time, overriding the government’s initial motion that ruled out no-deal but only on March 29 and left open the possibility of it taking place at a later stage. There were gasps in the House of Commons chamber as the amendment by Caroline Spelman — a Conservative MP — scraped through by a margin of four (312 votes to 308). In a dramatic turn of events shortly before the vote, Ms. Spelman herself attempted to withdraw the amendment — which the government was ordering its MPs to vote against — but Speaker of the House John Bercow declined to do this automatically, insisting it could still be voted on if one of its other backers continue to press it. In a subsequent vote on the amended motion, MPs once again backed ruling out no deal by 321 to 278 votes. The vote is non-binding on the government and does not ensure the U.K. can’t crash out without a deal on March 29. For now under current legislation the default is for Britain to leave the E.U. without a deal on that date, unless a deal is struck, Article 50 is revoked or an extension is agreed by both sides. The E.U. has made clear that it will only agree to an extension if there is credible justification for it, and not simply for the political impasse in Parliament to continue. In addition some Brexit supporters — such as Nigel Farage — have been lobbying E.U. countries to veto any attempt by Britain to push for an extension. Nevertheless, the defeat is highly significant indicative of the extent to which authority has been slipping away from the Prime Minister. With it clear that Parliament is against leaving without a deal, the pressure will be on for her to resolve the political impasse through compromise. That message was certainly put forward by Chancellor Philip Hammond earlier in the day as – while delivering his spring statement on Britain’s borrowing and spending forecasts said MPs had a solemn duty in the days ahead to put aside our differences and seek a compromise. Labour has accused the government of putting on a pretence of being prepared to negotiate because of May’s refusal to consider Labour’s proposals which include remaining in a customs union and close single market alignment.

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PAKISTAN WOMAN URGES NIA NOT TO OPPOSE PLEA IN SAMJHAUTA CASE

The daughter of a Pakistani man who was killed in the Samjhauta Express bombing in 2007 has written to the National Investigation Agency requesting the agency to not oppose her plea to appear as a witness before a special NIA court in Panchkula, Haryana. Her counsel Momin Malik said the woman, Rahila Wakil, did not get any help from either India or Pakistan to depose before the court. The trial in the case has concluded and the court was to deliver a verdict on March 11 when Ms. Wakil sent an email to the court that she wanted to record her statement as a witness. The court asked the NIA to submit its response on March 14 on the plea made by Ms. Wakil. The NIA had earlier said that in the past two years it had served four notices to Pakistan to present the 13 witnesses in the case but got no response from the neighbouring country. Since they migrated to Pakistan in 1947, their families are treated as mohajirs (refugees) in Pakistan. The family visits India as they still have relatives here. I sent over 40 letters to the Pakistani High Commission on Ms. Wakil’s behalf but never got a response. When she approached the Indian High Commission in Islamabad for a visa, she was asked to contact Delhi, Mr. Malik, the counsel said. In letter written to the NIA on Wednesday, Ms. Wakil requested the agency to provide no objection on the application under Section 311 Cr.Pc in the interest of justice, equity and fair play for the fair and true decision of this case on humanitarian grounds.

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DRI FINDS RS 3.25 CR TAX EVASION IN SALE OF IPL TICKETS

The State Directorate of Revenue Intelligence (SDRI) of Rajasthan has detected tax evasion of around Rs 3.25 crore in the sale of complimentary Indian Premier League match tickets worth Rs 11.62 crore, an official said. He said the SDRI has recommended the Commercial Tax Department to recover Rs 7 crore, including taxes evaded, penalty and interest in the case. The auction of Indian Premier League (IPL) cricket players also come under the purview of Goods and Services Tax (GST) and a detailed investigation has been recommended to recover the taxes, the official said. IPL match organiser Royal Multi Sports Private Limited had sold 65,207 complimentary tickets of IPL matches organised from April 11 to May 19 last year. The SDRI officials found 28 per cent GST evasion on such complimentary ticket distribution.

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DEFENCE MINISTRY PLANS TO BUY 10 LAKH HAND GRENADES FOR COMBAT TROOPS

At a time when tensions with Pakistan are heightened, the Defence Ministry is likely to consider a proposal to buy 10 lakh multi-mode hand grenades for the Indian Army under the 'Make in India' project in the military sector. A proposal for buying 10 lakh hand grenades from an Indian firm would be considered by the Defence Ministry at a high-level meeting to be chaired by Defence Minister Nirmala Sitharaman this week, government sources told. The more than Rs 500 crore proposal is critical as the government has already taken care of the main personal weapon requirements of the Army soldiers by signing two contracts for modern rifles. In the first case, a contract worth over Rs 700 crore for around 75,000 Sig Sauer assault rifles from an American firm has been signed while a joint venture has been formed with Russia to manufacture 7.5 lakh modern AK-203 assault rifles. The project for acquiring new hand grenades is required for the replacement of the existing HE-36 grenades manufactured by the Ordnance Factory Board. The multi-mode grenades have been developed by the DRDO and a production agency has been selected to manufacture them in large numbers. Hand grenades are among the few critical weapons that soldiers need in the time of war as they can be used to cause heavy damage to enemy positions or bunkers apart from taking out their soldiers.

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PNB FRAUD: MUMBAI COURT ISSUES NON-BAILABLE WARRANT AGAINST NIRAV MODI'S WIFE

A special court here on Friday issued a non-bailable warrant (NBW) against the wife of fugitive diamantaire Nirav Modi, a key accused in the $2 billion Punjab National Bank (PNB) fraud case. The warrant against Ami Modi was issued by Special Prevention of Money Laundering Act (PMLA) Judge M S Azmi after he took cognisance of the supplementary chargesheet filed by the Enforcement Directorate (ED) against Nirav Modi (48) and other accused a few days ago. The financial crime probe agency has alleged that Ami Modi used an international bank account to move $30 million suspected to be proceeds of the scam. The funds were used to buy property located in New York's Central Park, the ED has said. It is understood that the ED has underlined the role of Ami Modi and funds routed by her in the supplementary chargesheet.

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NIRAV MODI ENTERED UK ON INVESTOR’S ‘GOLDEN VISA’

Nirav Modi entered the UK on a ‘golden visa’ a tier-1 (investor) visa issued by the British government to investors outside the European Union on a commitment to invest £2 million in UK government bonds or shares of a company, sources in the UK government told. The sources revealed that the visa was issued on Modi's Indian passport. A golden visa allows a person to work, study or set up a business in the UK. The one-time investment of £2 million has to remain invested for five years before the visa holder becoming eligible for permanent residency. But that can be accelerated if more is invested. Application for the visa can be made from overseas. Also tracked down a jewellery business- called Diamond Holdings- linked to the Centre Point London apartment block where Modi is believed to be staying. Modi’s passport was revoked in February, but the golden visa was, apparently, issued a few years ago. Revocation of passport does not affect the validity of visa. In the offshore leaks database managed by the International Consortium of Investigative Journalists, Dattani Chartered Accountants is linked to 53 entities in the Panama Papers. The balance sheet (up to December 31, 2017) of Nirav Modi Limited UK shows the company in a dire condition. While the amount it is owed by debtors has fallen slightly to £1.7m compared to March 2017, trade creditors increased by £2.5 million between March and December 2017 meaning it now owes creditors £11.3 million. The accumulated loss at December 2017 has increased to £1.9 million from £168,000 in March 2017--indicating a loss of £1.7 million in nine months.

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EXPORTS UP 2.44% IN FEBRUARY; TRADE DEFICIT NARROWS

The country's exports grew by 2.44 per cent year-on-year to $26.67 billion in February on account of higher shipments in sectors such as pharmaceuticals, engineering and electronics, according to data from the commerce ministry. Imports declined by 5.4 per cent to $36.26 billion in the last month, narrowing the trade deficit to $9.6 billion. The gap between imports and exports was $12.3 billion in February 2018. Gold imports also fell sharply by about 11 per cent to $2.58 billion in February as against $2.89 billion in the corresponding month last fiscal. During the April-February period of the current fiscal year, exports grew 8.85 per cent to $298.47 billion, while imports rose by 9.75 per cent to $464 billion. The trade deficit has widened to $165.52 billion during the 11 months of the current fiscal from $148.55 billion compared to the year-ago period.

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INDIA FOR EXPANSION OF PREFERENTIAL DUTIES BY TRADE PARTNERS IN FTAS

Asking exporters to fully utilise the duty advantages in different Free Trade Agreements signed by India, Commerce Secretary Anup Wadhawan said that the government is in discussion with the partner countries to expand preferential duties under the trade opening pacts. Since we have a large exporter community, I wish to draw their attention in particular to the under utilisation of our free trade agreements. The data shows that Indian exporters have not made very good use of FTA, preferential benefits that India has negotiated with partner countries, Wadhawan said. He added that the Government is engaged in streamlining procedures for exporters to avail benefits under the FTAs, urging exporters to take advantage of the tariff preferences provided by these arrangements. India has signed different FTAs with key partners like ASEAN, South Korea, Japan, Malaysia, Chile and Singapore. The Department of Commerce is identifying other potential markets and discussing with our trade partners to expand the preferences available to all products and services. I think we need to engage with the industry on this issue as to why the FTA opportunity has not been utilised fully, Wadhawan said. He said one of the reasons for low utilisation of the FTAs could be that the Most Favoured Nation (MFN) duties in some countries are low to the extent that they do not be accord a significant benefit. Besides, there are some transaction costs in accessing that benefit. Lack of awareness among the exporters could also be the reason for the FTAs not being fully taken advantage of. According to EEPC India Executive Director Suranjan Gupta, India has not used FTAs much except for the iron and steel sector The gap between the tariff preference as well as the MFN rate may not be enough to actually make the exporters bear the transactions costs of going in for the preferential certificate. Our members do mention that there are problems of getting a preferential certificate, he said.

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POLL DUTY TO AFFECT TAX ADMINISTRATION, FEAR EXPERTS

Tax practitioners of Gujarat have urged state GST administration that assessment and reassessment of cases of previous years, whose deadline ends on March 31, 2019, should not be affected because tax officials are deployed on election duties They have also asked the administration to clarify how to file GST returns for the month of February as the revised rules and GST system are not in sync with each other. In a letter to Chief Commissioner of State GST in Gujarat Tax Advocates Association of Gujarat said that the deadline for completion of the assessment of FY 2014-15 and for a reassessment of 2013-14 ends on March 31, 2019. A situation may arise wherein an advocate or a consultant may appear for hearing but the official is on election duty. Later on the official, unaware of the developments, passes judgement to meet his deadline, said the letter. Another problem highlighted in a letter is the revised guidelines for filing monthly GST returns. However, the GST system is still tuned to file returns as per previous norms. If we follow revised guidelines, the system is not accepting it. If we file returns as the system is tuned, we will violate revised rules. There is no way we can comply with both requirements, said Sunil Keswani, secretary of TAAG. TAAG also reminded authorities about revised guidelines for utilization of Input Tax Credit, which mentions the sequence in which Integrated GST (IGST) credit will be utilized against payable tax. Even if a businessman has pending credit, he has to pay fresh tax if both are not in same category. Similarly, CGST credit in one state is not allowed a set up against CGST payable in other state, even though there is no provision in the law which prohibits such set off, said Keswani.

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INDIA SETS ASPIRATIONAL TARGET FOR ENGINEERING EXPORTS AT USD 200 BN BY 2025

India can achieve a three-fold aspirational increase in its engineering exports to reach USD 200 billion by 2025, if concerted efforts are made by the government and industry to develop a conducive ecosystem and ensuring inputs at competitive prices, according to an EEPC India-Deloitte strategy paper. Anup Wadhawan said that the Department of Commerce and EEPC would quickly examine the road-map suggested by the strategy paper and make all possible efforts to achieve the identified potential. On the basis of discussions with Ministry of Commerce, government of India, and leadership of EEPC India, the aspirational target of Indian engineering exports is set as USD 200 billion by 2025, which is almost a threefold increase from 2017-18 exports, the paper released at the International Engineering Sourcing Show (IESS) suggested. Wadhawan said the EEPC India-Deloitte study highlights the opportunities to unleash the country’s export potential and achieve the aspirational target. India’s engineering exports, which contribute 25 per cent to the overall merchandise shipments, are projected to touch about USD 80-82 billion in the current financial year ending March 31, said EEPC India Chairman Ravi Sehgal. According to Sehgal, the USD 200 billion target can be met if we get our act together in ensuring that the basic raw material, steel, is made available at reasonable prices. The strategy paper has identified areas where government and industry interventions are required. These include various aspects such as product-market optimisation, ecosystem development, promotion and branding, and competitive procurement of inputs. It said besides internal interventions, the export performance would also depend on several external factors such as investment by industry, global macro-economic scenario, competing nations’ performance, trade policies and approach towards protectionism. The paper noted that in the global exports market, India is not a ‘leader’ in any product category and continues to be a ‘follower’ nation.

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FODDER SCAM: SUPREME COURT SEEKS CBI RESPONSE ON LALU YADAV'S BAIL PLEA

The Supreme Court Friday sought the CBI's response on a plea of RJD supremo Lalu Prasad Yadav seeking bail in three cases related to the multi-crore fodder scam A bench headed by Chief Justice Ranjan Gogoi asked the Central Bureau of Investigation (CBI) to respond in two weeks on Yadav's plea challenging the January 10 verdict of the Jharkhand High Court rejecting bail to him in these cases. The over Rs 900 crore fodder scam relates to fraudulent withdrawal of money from treasuries in the Animal Husbandry department in early 1990s when Bihar and Jharkhand were one state and the RJD was in power with Yadav the chief minister.

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I-T DEPT BUSTS BLACK MONEY RACKET IN J&K, RECOVERS RS 1.44 CRORE CASH

Striking twice within a month, the income tax department has recovered unaccounted money as well as jewellery, and narrowed in on concealed financial transactions in the Kashmir Valley on Friday. This assumes significance in the run up to the Lok Sabha polls, especially after the Pulwama terror attack. While one operation was against a prominent trader who apparently used proxies to conduct large cross-LOC trade, the other was against a property dealer, who allegedly facilitated cash for undesirable activities. The department seized undisclosed cash worth Rs 1.44 crore and unaccounted jewellery of Rs 2.48 crore from five locations in the Valley. The evidence collected points to undisclosed property transactions of more than Rs 41 crore, and concealed financial transactions of nearly Rs 17 crore, the Central Board of Direct Taxes (CBDT) said in a press release.

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PM MODI LAUNCHES BJP'S CAMPAIGN WITH 'MAIN BHI CHOWKIDAR' TWEET

The BJP launched a ‘Main Bhi Chowkidar’ campaign for 2019 elections on Saturday with PM Narendra Modi tweeting a video showing how all Indians are Chowkidars, kick-starting BJP’s campaign for the elections. BJP functionaries said 'Mai Bhi Chowkidar’ campaign has been started after extensive surveys and data analysis by BJP strategists who feel that Rahul Gandhi’s ‘Chowkidar Chor Hai’ jibes and campaign is not resonating among people. Surveys suggest that it is actually angering people, BJP leaders said.

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1984 ANTI-SIKH RIOTS CASE: CBI SEEKS DISMISSAL OF SAJJAN KUMAR'S PLEA IN SUPREME COURT

The CBI Friday told the Supreme Court that former Congress leader Sajjan Kumar's plea challenging the life term awarded to him by the Delhi High Court in a 1984 anti-Sikh riots case should be dismissed. The probe agency in its reply on Sajjan Kumar's plea seeking bail said he has a large political clout and is capable of influencing or terrorising witnesses in the case pending against him. It told the apex court said that fair trial in the pending case would not be possible if Kumar is granted bail. The CBI said that Kumar's political clout clouded fair and speedy investigation and derailed justice for the victims of the 1984 anti-Sikh riots. A bench of Justice S A Bobde and Justice S A Nazeer posted the matter for further hearing on March 25.

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PLEA FILED IN SC TO PROTECT IDENTITY OF VICTIMS IN POLLACHI SEXUAL ASSAULT CASE

A writ petition was filed in the Supreme Court on Friday seeking protection of the identity of the victims and for an apex court-monitored probe into the Pollachi sexual assault case. The petition alleged that the accused were politically connected and had links to the ruling AIADMK party in Tamil Nadu. It said the trial of the case should be conducted outside the State. The petition further asked the apex court to direct a departmental enquiry against Coimbatore Rural Superintendent of Police, R.Pandiarajan, who, instead of conducting a free and fair investigation, outed the name of the victim and that of her immediate family member in a press release. The petitioners conveyed their shock to the court about the alleged sexual assault of a college student from Pollachi town and the sex mafia comprising politically-connected men. It contended that the current police investigation team under Mr. Pandiarajan was attempting to underplay the entire issue and seemed hesitant about nabbing the whole sex mafia for around seven years in and around the town of Pollachi. The petition said that though the CBI is an independent agency, the probe should be monitored by the apex court in order to restore the confidence of the people.

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49 KILLED IN NEW ZEALAND MOSQUE SHOOTINGS; 4 HELD

Attacks on two Christchurch mosques left at least 49 dead Friday, with one gunman -- identified as an Australian extremist -- apparently livestreaming the assault that triggered the lockdown of the New Zealand city. In what appeared to be the worst attack against Muslims in a western country, witnesses spoke of victims being shot at close range, with women and children believed to be among those killed. It is clear that this can now only be described as a terrorist attack said Prime Minister Jacinda Ardern, saying it marked one of New Zealand's darkest days. From what we know, it does appear to have been well planned, she said, adding that in addition to the dead another 20 people were seriously injured. The gunman at one mosque was an Australian-born citizen, Australian Prime Minister Scott Morrison said in Sydney, describing him as an extremist, right-wing, violent terrorist. It was not immediately clear how many attackers were involved, but Ardern said three men had been taken into custody. Two IEDs (improvised explosive devices) were also found and neutralised by the military, police said.

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COURT ALLOWS ED TO QUIZ LOBBYIST TALWAR ON IA'S PURCHASE OF 43 AIRCRAFT FROM AIRBUS INDUSTRIE

A Delhi court Friday allowed the ED to question lobbyist Deepak Talwar in Tihar jail in a fresh case related to the purchase of 43 aircraft by erstwhile Indian Airlines from France's Airbus Industrie in 2005. The Enforcement Directorate had on Thursday moved a Delhi court seeking orders to interrogate Talwar who is currently in judicial custody in a separate case related to negotiations to favour foreign private airlines causing losses to national carrier Air India. In the present case, special public prosecutors D P Singh and Nitesh Rana had told the court that Talwar's custody was required to unearth the entire criminal conspiracy related to the money laundering in relation to the purchase. According to the ED, the case was filed against Indian Airlines officials and other unknown persons, alleging that the officials, by abusing their official position as public servants in conspiracy with Airbus Industrie and caused undue pecuniary advantage to Airbus Industrie and caused corresponding undue loss to the government exchequer in carrying out the purchase of 43 aircraft by Indian Airlines from Airbus Industrie, France.

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ARVIND KEJRIWAL SUMMONED IN DEFAMATION CASE FOR ACCUSING BJP FOR VOTER DELETION

A Delhi court Friday summoned Chief Minister Arvind Kejriwal and others in a defamation case filed by BJP leader Rajeev Babbar. Additional Chief Metropolitan Magistrate Samar Vishal directed Kejriwal and other accused to appear on April 30. Babbar has sought proceeding against Kejriwal, Rajya Sabha member Sushil Kumar Gupta, MLA Manoj Kumar and Aam Aadmi Party (AAP) spokesperson Atishi Malena for harming the reputation of BJP by blaming it for the deletion of the names of voters from the electoral rolls in Delhi. The court had earlier taken cognisance of the defamation complaint filed against Kejriwal and others by Babbar.

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IN 2009, INDIA WAS ALONE, WHILE IN 2019 IT HAS WORLDWIDE SUPPORT: SUSHMA SWARAJ ON JEM CHIEF BANNING ISSUE

Sushma Swaraj Friday said the leaders who term China's blocking of banning JeM chief Masood Azhar at the UN a diplomatic failure must see that India was alone when the move was first made in 2009 under the UPA rule, while it has worldwide support in 2019 Swaraj said she wants to apprise the people of the facts regarding the listing of Azhar under the United Nations Sanctions Committee. The proposal has been mooted four times. In 2009, India under the UPA government was the lone proposer. In 2016, India's proposal was co-sponsored by US, France and UK. In 2017, US, UK and France moved the proposal. In 2019, the proposal was moved by US, France and UK and supported by 14 of the 15 UN Security Council members and also co-sponsored by Australia, Bangladesh, Italy and Japan -- non-members of the Security Council, she said in a series of tweets. She asserted that India had secured unprecedented support from the international community for listing the Jaish-e-Mohammed (JeM) chief under the UN Sanctions Committee. I have shared these facts with you so that leaders who describe this as our diplomatic failure may see for themselves that in 2009, India was alone. In 2019, India has the worldwide support, the external affairs minister said.

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'ONE FAILED, THE OTHER WON'T TAKE-OFF', ARUN JAITLEY'S JIBE ON CONGRESS

One failed. The other won't take-off, finance minister Arun Jaitley said as he took a jibe on the entry of Priyanka Gandhi into politics. Generation after generation, the Congress Party's leadership berth is reserved for a member of the preferred family, he said as he traced the post-independence history of the party from Jawaharlal Nehru to Indira Gandhi to Sanjay Gandhi to Rajiv Gandhi. He said the Congress tried to remove itself from the shackles of dynasty for a brief period after the unfortunate assassination of Rajiv Gandhi but could not get out of its clutches for long. Smt. Sonia Gandhi then took over as the longest serving President of the Indian National Congress and thereafter passed on the leadership baton of the Party to her son Rahul Gandhi. Thus, generation after generation, the Congress Party's leadership berth is reserved for a member of the preferred family When the Party is now in doldrums, another member of the family has entered the scene, said the senior BJP leader who is in-charge of party's publicity committee. Jaitley was referring to Priyanka Gandhi Vadra, who has been recently appointed as Congress general secretary in-charge of eastern Uttar Pradesh. The finance minister further said: The key question is – will the dynastic parties learn from their 2014 drubbing and a possible defeat in 2019? Possibly not. It is here that the people of India will have to bring about a change. India is not a monarchy. Neither is it a kingdom or dynastic democracy. Dynasts disapprove persons of talent and merit. Another curious feature, he said, is that most families where a single dynast created the party, have moved into the next generation. In the next generation, there may be more than one heir. Both the heirs become aspirational and, therefore, the parent dynast distributes the largesse. But recent history has proved otherwise, Jaitley said. In Karnataka, he said there is an experiment of sons sharing the state and the grandsons sharing the Centre, and in Maharashtra, the initial ripples have started. The Congress has undertaken the same experiment. It believes that the two owners are better than one. Will Confucius be proved right and history record that one eventually prevailed over the other or will it be otherwise. One failed. The other won't take-off, Jaitley said. On the other hand, he said Prime Minister Narendra Modi grew from an extremely humble background He worked in the party organisation till he was inducted into the leadership and he had to work and struggle for the positions that he got. He earned them, Jaitley said and exuded confidence that Modi and aspirational India would together demolish the concept of families.

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OIL DEMAND CONCERNS OVERDONE, BRENT TO RALLY ABOVE $70 PER BBL: GOLDMAN

Higher oil demand coupled with declining production and supply cuts could help Brent prices rally above $70 per barrel in the near term, Goldman Sachs said. Demand is off to a strong start in 2019, with recent oil data suggesting current demand concerns should ease further, Goldman said in a note on Thursday. Based on available demand data that shows an increase in consumption in January of 1.55 million barrels per day (bpd) from a year earlier, the US bank estimates that overall global demand increased by nearly 2 million bpd during the month. This growth was visible in both emerging and developed markets. Meanwhile, supply losses in 2019 are large with producers in the Organization of the Petroleum Exporting Countries (OPEC) exceeding their cut commitment and on accelerating declines in Venezuelan output, Goldman said. The political stalemate in Venezuela increasingly creates risks that the decline in output due to the U.S. oil sanctions more than offsets the rebound in Libya, which would bring global output below our expectations and further tighten heavy crude supplies, it added. The investment bank expects the current fundamentals to tighten physical markets further, in turn driving the Brent forward curve into further backwardation. Backwardation is a market structure where prompt prices are higher than later prices and suggests that demand for a commodity is high or that prompt supply has declined.

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FAILURE TO OPEN FD IN WIFE’S NAME: PUNJAB AND HARYANA HC WARNS MAN OF LEGAL ACTION

Two months after the Punjab and Haryana High Court ordered Jalandhar Police to provide necessary security to a runaway couple and ordered the man to deposit an amount of Rs 5 Lakh in his wife’s name, his failure to do so has resulted in passing of a fresh order asking him to deposit the amount in the form of a fixed deposit within 20 days and warning him to otherwise by ready for a legal action. Similarly, around 18 such cases have got revived where husbands have failed to deposit the amount in accordance with the court orders. In the order passed on January 14, while allowing the plea for protection, Justice Ramendra Jain had ordered the man to deposit a sum of Rs 5 Lakh in the form of FDR for a period of five years in the name of his wife within a period of one month and asked him to submit a deposit copy of it with the court Registry within a period of two months. Since no proof was placed before the court in the given time, the case was recently again taken up. Petitioner No. 2 is directed to deposit the requisite amount in the name of petitioner No. 1 within 20 days from today, failing which he will be liable for criminal action that my be available in accordance with law, Justice Jain said in the order passed on March 5, while directing the local police in Jalandhar to convey the order to the husband. The case will again be taken up on April 11 for further proceedings.

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BAL THACKERAY MEMORIAL: ALLOTMENT TO TRUST VALID, LEGAL, BMC TELLS BOMBAY HC

The Brihanmumbai Municipal Corporation (BMC) on Thursday told the Bombay High Court that the allotment granted to Balasaheb Thackeray Rashtriya Smarak Samiti, a trust, to construct the memorial of Shiv Sena founder Bal Thackeray, is valid, legal and done after following due process of law. The petitioner told the HC that the BMC has given its land for the memorial on a nominal lease rent of Re 1 per annum for a period of 30 years without any reserved price. The BMC explained the allotment in an affidavit filed by Parag Masurkar, Assistant Commissioner (Estate), in which it said that in many cases nominal rent of Re 1 or Rs 51 per annum leases are granted by the corporation.

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US ROLLING BACK SOPS WON'T HURT INDIAN SHRIMP EXPORTS: MPEDA

Marine Products Export Development Authority (MPEDA) has allayed fears about the impact of the United States lifting concessions to India under the Generalized System of Preferences (GSP) on shrimp exports. MPEDA feels the withdrawal of concessions by the US, a leading market for Indian seafood exporters, will not roil them as most of the marine food products, including high-in-demand shrimps, enjoy ‘zero tariff’ under the current GSP regime. There is a widespread apprehension that the US decision will affect the seafood exports from India to America, which is a major importer of our marine products. But such apprehension is unfounded, K S Srinivas, chairman, MPEDA said in a statement. MPEDA made a detailed analysis and found that there would not be any immediate setbacks anticipated due to the withdrawal of GSP benefit in seafood exports, he added. The exports of prepared and preserved shrimps and crab to America will not be adversely affected as these enjoy zero tariff at present under the GSP regime, Srinivas pointed out. India usually exports seafood worth $2,300 million to American market with frozen shrimp as the flagship item of exports. The frozen shrimp is exempted from tariff and is not covered under the GSP regime. In FY2018, India shipped 1.37 million tonnes of seafood that earned $7.08 billion (or Rs 45,106.89 crore), with frozen shrimp and frozen fish continuing to be the principal export items. US, the leading destination for Indian seafood in value terms, imported seafood worth $2,320.05 million. The overall export of shrimp during 2017-18 was 5, 65,980 tonnes in volumes, valued at $4,848.19 million, with the US continuing to be the largest market (2,25,946 tonnes) for frozen shrimp and accounting for 53 per cent of total Vannamei shrimp exports. Frozen shrimp was the principal item of exports to the US with a share of 95.03 per cent in dollar value. The GSP scheme, launched in 1974, aims to assist developing countries in increasing their exports by facilitating duty-free entry for thousands of products from designated beneficiary countries.

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NO DIALOGUE WITH PAK TILL IT ACTS AGAINST TERROR: SUSHMA SWARAJ

Even though officials of India and Pakistan on Thursday met to discuss modalities for the Kartarpur Corridor, External Affairs Minister Sushma Swaraj sought Islamabad to take strictest action against terrorism before any bilateral dialogue process can begin between the two countries. She asked Pakistan Prime Minister Imran Khan to exhibit a statesman like approach by handing over Jaish-e-Mohammad chief Masood Azhar to India. Some people say that Pakistan Prime Minister Imran Khan is a statesman. If he is so generous, he should hand over Jaish-e-Mohammed Chief Masood Azhar to India, she said, but complained that Islamabad has been misleading the international community over the issue of terrorism and shielding and encouraging terrorism. Pakistan needs to control the ISI and its army who are bent on destroying the bilateral relations time and again, she said.

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PAKISTAN 'SURREPTITIOUSLY USURPED' LAND BELONGING TO KARTARPUR GURDWARA: OFFICIALS

Pakistan has surreptitiously usurped lands belonging to the Kartarpur Sahib gurdwara in the name of developing a corridor for the convenience of pilgrims and objected to most of the Indian proposals for the project, reflecting its double-speak, officials said on Friday. The Indian delegation, which attended the first India-Pakistan meeting on Thursday to finalise the modalities for the proposed corridor linking Gurdaspur in Punjab with the Sikh shrine in Pakistan's Kartarpur, strongly protested against the rampant encroachment on the lands belonging to the holy Sikh shrine in utter disregard to the sentiments of devotees of Guru Nanak Dev in India. Pakistan has lived up to its old reputation of making false promises, making tall claims and delivering nothing. Its double-speak on the Kartarpur Sahib corridor has been exposed in the first meeting itself at Attari on Thursday, a government official, said. The encroached lands were donated to the Kartarpur Sahib by devouts like late Maharaja Ranjeet Singh and others. A strident demand was made by India for restoration of these lands to the holy gurdwara urgently, keeping in view the strong sentiments on the issue within India, the official said. Pakistan wanted to restrict the duration of Kartarpur agreement to just two years, despite India making it clear that it is executing long-lasting and comprehensive facilities at the border by spending Rs 190 crore. While India has made serious efforts to fulfil the long standing aspiration of the Indian pilgrims and devotees of Guru Nanak Dev for smooth, easy and hassle-free access of pilgrims to Kartarpur Sahib, Pakistan has scuttled the proposals made by New Delhi. While India is executing a state-of-the-art passenger terminal building for visit of over 5,000 pilgrims daily and over 15,000 pilgrims on special occasions like Vaisakhi (falls in mid-April), Pakistan has limited it to mere 700 pilgrims per day. Pakistan has so far resisted all attempts to include Kartarpur in the 1974 MoU, the official said. As per that agreement, there are 15 shrines in Pakistan and seven in India where each other's pilgrims can visit.

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NIA ISSUES FRESH SUMMONS TO MIRWAIZ UMAR, NASEEM GEELANI IN TERROR FUNDING CASE

National Investigation Agency (NIA) on Friday issued fresh summons to separatist Hurriyat leader Mirwaiz Umar Farooq and Naseem Geelani, the son of another separatist leader Syed Ali Shah Geelani, to be present in New Delhi for questioning on March 18 and 19 in connection with a terror funding case. The move comes amidst the government crackdown on separatist leaders in Kashmir in the aftermath of Pulwama terror attack. The agency claimed to have recovered several incriminating documents, including letterheads of different terrorist organisations as well as high-end communication systems, during the raid. During the searches, the teams also recovered electronic devices including laptops, e-tablets, mobile phones, pen drives, communication system, and DVRs.

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IMPORTS OF CHINESE AUTO PARTS SET TO RISE AS GOVERNMENT PUSHES FOR ELECTRIC CARS

India, the world’s third-largest automobile market, will rely more on China for components as the government pushes for electric vehicles. In the financial year 2018 alone, Chinese exports to India touched $4.3 billion — up 27 per cent over FY13 — with the automobile industry executives saying that there’s no sign of slowing down in the future. India imports 10 times more auto components from China than it exports. The ever growing import of auto components from China pose a threat to local auto components manufacturing ecosystem and will increase India’s already huge trade deficit with China in the coming years. Chinese exports to India is driven mainly by the electronic components in vehicles, which will be used for the impending launch of a slew of new electric vehicles (EVs). Also, the practically non-existent hardware manufacturing base in India is forcing OEMs and Tier-I suppliers to import more from China. Drive transmission, steering followed by electricals, interiors and engine components from China form a major chunk of the imports. Given India’s road map for electrification and China’s leadership in EVs (60 per cent of global volumes) and battery technology, we expect Chinese imports of EV components and sub-components to go up. This despite localisation targets and import duties, Chinese components for EVs will still be more competitive than making them in India. Even today, share of certain components like imports of DC motors from China is very high, said Aswin Kumar.

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PAKISTAN OWES USD 10 BILLION DEBT TO CHINA FOR GWADAR PORT, OTHER PROJECTS: TOP US GENERAL

Pakistan owes its all weather friend China at least USD 10 billion debt for the construction of the Gwadar port and other projects, the top US general has said, as he underlined Beijing's predatory economics to expand its global influence. The strategic Gwadar Port in Balochistan province on the Arabian Sea is being built by China under the multi-billion China-Pakistan Economic Corridor (CPEC) and is considered to be a link between Beijing's ambitious One Belt, One Road (OBOR) and Maritime Silk Road projects. Saddled with predatory Chinese loans, Sri Lanka granted China a 99-year lease and 70 per cent stake in its deep-water port, General Joseph Dunford, Chairman of US Joint Chiefs of Staff, told a Senate Armed Services Committee on Thursday. The Maldives owes China roughly USD 1.5 billion in debt - about 30 per cent of its GDP - for construction costs, he said. Pakistan owes China at least USD 10 billion in debt for the construction of Gwadar Port and other projects, Dunford said. China is diligently building an international network of coercion through predatory economics to expand its sphere of influence, he said, adding that nations around the globe are discovering the hard way that China's economic friendship via OBOR can come at a steep cost when promises of investment go unfulfilled and international standards and safeguards are ignored. Dunford warned that if China's predatory debt tactics is left unaddressed, it will have serious implications on the US's military.  Alleging that China is extending its reach by increasing its overt military and coercive activities through its neighbours, Dunford said China's increasingly provocative behaviour in the Indo-Pacific, particularly the South China Sea (SCS), should concern all.

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BRICS IDENTIFIES COUNTER-TERRORISM AS ONE OF PRIORITY AREAS

The first BRICS Sherpa meeting under the Presidency of Brazil was held in Curitiba, Brazil between 14-15 March and the meet identified counter-terrorism as one of the priority areas for the five-member BRICS. T S Tirumurti, Secretary(ER) in the Ministry of External Affairs, led the Indian delegation. It is worth mentioning that Brazil has identified countering terrorism as one of its priority areas for BRICS under its presidency. Brazil's priorities for its Presidency includes inter-alia science, technology, and innovation, digital economy, New Development Bank and BRICS Business Council as well as countering transnational crime and terrorism. India conveyed its support for the priority areas set out by Brazil, particularly to take forward BRICS cooperation on counter terrorism in a meaningful and concrete manner with BRICS member countries. India also underlined the need to take forward inter-alia people-to-people cooperation, cooperation in science and technology and innovation, and also in health and traditional medicine.

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BREXIT: UK MPS REJECT AMENDMENT CALLING FOR SECOND REFERENDUM

The UK Parliament on Thursday voted in favour of delaying Brexit beyond March 29 as the chaotic process of the UK’s divorce from the European Union plunged the country into a political deadlock. The motion for delaying the Brexit Day was passed in the House of Commons by 412 votes to 202. However, the delay in the Brexit process would now require the unanimous approval of all 27 remaining EU member states which in effects gives the 28-member bloc the power to dictate the terms of an extension. Meanwhile, the EU officials have indicated that are not interested to provide more time for political tussles in the UK and would approve an extension only if there were a specific reason for one. EU Council chief Donald Tusk on Thursday said the bloc could approve a long postponement if the UK finds it necessary to rethink its Brexit strategy and build consensus around it, indicating the possibility of a softer Brexit only if May abandons her stand, especially her opposition to being in a customs union with Europe. However, other EU leaders have warned of not supporting an extension if the UK cannot be clear about what it wants.

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VISA ABUSE: US COURT DISMISSES WHISTLEBLOWER'S SUIT AGAINST INFOSYS, APPLE

A US court in the state of California has dismissed lawsuit against Apple and Infosys over allegations that it abused the visa system to save money. The California federal judge nixed a whistleblower's suit accusing Apple of bringing two trainers from India into the country using B-1 visas instead of the necessary and more expensive H1B, AppleInsider reported on Thursday. The lawsuit claimed that Apple and Infosys conspired to have two Indian nationals enter the United States on a business B-1 visa to provide training at Apple in violation of immigration laws. The suit, filed by Carl Krawitt who is a former contractor for Infosys, said the two trainers were brought in under the wrong visa and that Apple should have acquired the more expensive and numerically-capped H1-B visas for the pair. A B-1 visa is used to allow non-immigrants enter the US for business purposes but on a temporary basis and with limitations. The lawsuit claimed Infosys executives knew the company lacked sufficient foreign nationals on H1-B visas to legally perform the classroom training sessions at Apple that the company was contracted to provide, and that only Indian foreign national workers on B-1 visas were available to perform services for Apple at the time, said the report. Apple, however, argued its trainer's activities were permissible under the B-1 visas. The court determined that the trainers' work under the B-1 visa was acceptable, and that neither Apple nor Infosys were attempting to commit fraud, the report noted.

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MEXICO'S LOWER HOUSE PASSES CONSTITUTIONAL REFORM TO CUT SHORT PRESIDENTIAL TERM

Mexico's Lower House on Thursday approved a constitutional reform that would allow for referendums to cut short the six-year presidential term a move opposition lawmakers say opens the door to allowing re-election to the nation's highest office. President Andres Manuel Lopez Obrador, who took office on December 1, said during the campaign that he would hold a referendum on his performance at the middle of his term and would cut it short if he loses the consultation. Lopez Obrador's MORENA party and its allies hold majorities in both chambers of Congress. The constitutional reform received the required support of two-thirds of lawmakers in the Lower House. It now goes to the Senate for discussion and a vote. These changes will allow the Executive (branch) an intense political campaign in a shameless way in 2021 just when this chamber and 13 governorships are renewed, said opposition lawmaker Xavier Azuara, from the PAN party. It is a path to re-election, Azuara said. Recent polls have shown Lopez Obrador has the support of almost four out of every five voters.

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NORTH KOREA LIKELY TO SUSPEND NUCLEAR TALKS WITH 'GANGSTER-LIKE' US: DIPLOMAT

North Korea is considering suspending talks with the United States and may rethink a ban on missile and nuclear tests unless Washington makes concessions. Choe Son Hui blamed top US officials for the breakdown of last month's summit in Hanoi between US President Donald Trump and North Korean leader Kim Jong Un, Russia's TASS news agency and the Associated Press said. We have no intention to yield to the US demands (at the Hanoi summit) in any form, nor are we willing to engage in negotiations of this kind, TASS quoted Choe as telling reporters in the North Korean capital. The US Secretary of State Mike Pompeo and national security adviser John Bolton created the atmosphere of hostility and mistrust and, therefore, obstructed the constructive effort for negotiations between the supreme leaders of North Korea and the United States, Tass quoted Choe as saying. Kim is set to make an official announcement soon on his position regarding the denuclearisation talks with the United States and the North's further actions, it added, citing Choe. Choe's comments echoed the North's usual rhetoric at tense points in its dealings with Washington. North Korea expert Joshua Pollack said North Korea may be delivering an ultimatum. They're putting down a marker, saying which way things are headed if nothing changes, Pollack, of the James Martin Center for Nonproliferation Studies in Monterey, California, said.

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CS Meetesh Shiroya