IGST-CREDIT-FIRST RULE: TAXPAYERS UNSURE OF GSTN FIAT’S LEGAL
STATUS
The contradictory
responses from the Goods and Services Tax Network (GSTN) to assessees’ queries
on the unavailability of a new functionality for offsetting tax liability has raised
concerns among businesses, which fear that they may be hauled up later by the
tax department for non-compliance as GSTN’s advice may not have any legal
standing. The GST Act saw several amendments last year, which included changes
in discharge of tax liability from the existing input tax credit (ITC) in the
electronic ledger of an assessee. The Act mandated that from February 1, a taxpayer
must first extinguish the integrated GST (IGST) credit to pay for liability of
IGST, Central GST and state GST. What’s making the situation worse is that GSTN
has provided different solutions to assessees for the same problem. GSTN admits
that this functionality was currently not available on the portal. While in one
response, it said: We request you to wait for the same (functionality) and keep
yourself updated,; the second to a different assessee said: please offset the
liabilities as per existing utilisation principle. The taxpayers are worried
that GSTN responses can’t be cited as defence if the tax department comes
calling as it could be construed as non-compliance, Rajat Mohan said.
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FORTHCOMING CHANGES IN E-WAYBILL SYSTEM-AUTO CALCULATION OF
ROUTE DISTANCE
1. Auto calculation of
route distance based on PIN code for generation of EWB
Now, E-waybill system is
being enabled to auto calculate the route distance for movement of goods, based
on the Postal PIN codes of source and destination locations. That is, the
e-waybill system will calculate and display the actual distance between the supplier
and recipient addresses. User is allowed to enter the actual distance as per
his movement of goods. However, it will be limited to 10% more than the
displayed distance for entry. That is, if the system has displayed the distance
between Place A and B, based on the PIN codes, as 655 KMs, then the user can
enter the actual distance up to 720KMs (655KMs + 65KMs). In case, the source
PIN and destination PIN are same, the user can enter up to a maximum of 100KMs
only. If the PIN entered is incorrect, the system would alert the user as
INVALID PIN CODE. However, he can continue entering the distance. Further,
these e-waybills having INVALID PIN codes are flagged for review by the
department. Route distance calculation between source and destination uses the
data from various electronic sources. This data employs various attributes, for
example: road class, direction of travel, average speed, traffic data etc.
These attributes are picked up from traffic that is on National highways, state
highways, expressways, district highways as well as main roads inside the
cities. A proprietary logic is then used for approximating the distance between
two postal pin codes. The distance thus derived is then provided as the
motorable distance at that point of time.
2. Blocking of generation
of multiple E-Way Bills on one Invoice/document
Based on the
representation received by the transporters, the government has decided not to
allow generation of multiple e-way bills based on one invoice, by any party –
consignor, consignee and transporter. That is, once E-way Bill is generated
with an invoice number, then none of the parties – consignor, consignee or
transporter – can generate the E-Way Bill with the same invoice number. One
Invoice, One E-way Bill policy is followed. The change will come in the next
version.
3. Extension of E-Way Bill
in case Consignment is in Transit
The transporters had
represented to incorporate the provision to extend the E-way Bill, when the
goods are in transit. The transit means the goods could be on Road or in
Warehouse. This facility is being incorporated in the next version for the
extension of E-way Bill. During the extension of the e-way bill, the user is
prompted to answer whether the Consignment is in Transit or in Movement. On
selection of In Transit, the address details of the transit place need to be
provided. On selection of In Movement the system will prompt the user to enter
the Place and Vehicle details from where the extension is required. In both
these scenarios, the destination PIN will be considered from the PART-A of the
E-way Bill for calculation of distance for movement and validity date. Route
distance will be calculated as explained above.
4. Blocking of Interstate
Transactions for Composition dealers
As per the GST Act, the
composition tax payers are not supposed to do Interstate transactions. Hence
next version will not allow generation of e-way bill for inter-state movement,
if the supplier is composition tax payer. Also, the supplies of composition tax
payers will not be allowed to enter any of the taxes under CGST or SGST for
intrastate transactions. In case of Composition tax payer, document type of Tax
Invoice will not be enabled.
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NEGATIVE GROWTH IN REGULAR TAX COLLECTIONS-CBDT CALLS IT AN
ALARMING SITUATION
In a Departmental Letter
(DO), addressed to all Pr. Chief Commissioner of Income Tax, the CBDT has expressed
dissatisfaction over the tax collections achieved in financial year 2018-19
against the targets. It has been stated that as per the progress of budget
collection based on the figures of OLTAS, as against the budget collection
target of Rs. 12,00,000 Crore , only 85.10% of the target at Rs.10,21,251 Crore
has been collected as on 23.03.2019. The minor head-wise analysis has been
stated to have indicated worsening trend of negative growth in regular
collections at – 6.9% as against – 5.2% in the last week, which according to
the CBDT is an alarming situation needing immediate attention. The CBDT has
stressed that regular assessment tax is bench- mark of the their performance as
it is based upon quality of demand raised which can further be converted into
actual collections. Accordingly, all Pr CIT have been asked to take all
possible actions urgently, especially with respect to recovery of arrear and
current demand, so as to achieve the targets for collection.
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FACILITY TO VIEW FORM 2 DECLARATION FILED BY STARTUP AVAILABLE
IN IT E-FILING PORTAL
Facility to view Form 2 Declaration
filed with DPIIT (Department for Promotion of Industry and Internal Trade) by a
startup is now available in e-Filing The path for the access is as under:
Login > Go to My
Account -> ‘View Startup Form 2 Declaration’
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CENTRE’S ELECTRIFICATION POLICY, GST ROLL-OUT MAY HELP USHA
SIGN OFF FY19 WITH SALES OF 1 CR. FANS
Significant improvement in
availability of electricity, even in interior pockets, coupled with the
roll-out of the Goods and Services Tax (GST), has helped Usha Fans to improve
its sales, clocking a growth rate better than that of the industry. The company
expects further boost through innovations like the recently-launched Aero
switch, a remote-control device for fans. These [electrification and GST] have
been major growth drivers. We are expecting to close 2018-19 with sales of one
crore fans for the first time, Rohit Mathur, president, Electric Fans and
Pumps, Usha International Ltd. told. The company churns out nearly two lakh
fans a month at its two company-owned and three outsourced units. Usha’s own
fan units are in Hyderabad and Kolkata. The outsourced units are in Haridwar
and Baddi. The company also has a significant sourcing facility and a dedicated
office in China. The company has 21% share of the overall organised market for
fans. Pointing out that this segment, estimated at 75-80 million units, had
expanded after the GST roll-out, Mr. Mathur said earlier while 70% of the
market comprised organised players, this had now grown to about 75%.
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MS DHONI MOVES SC AGAINST AMRAPALI OVER RS 40 CRORE DUES
After thousands of duped
homebuyers, it is now former Indian cricket captain M S Dhoni who has knocked
at the doors of the Supreme Court against the Amrapali group, seeking the
court’s intervention to get around Rs 40 crore from the group for using his
services for branding and marketing activities for six years. Dhoni entered
into various agreements with the Amrapali group in 2009 to promote the company
as its brand ambassador and granted exclusive rights to the builder to use his
endorsement in marketing and public relations activities. He remained
associated with the group for around six years but parted ways in 2016 after
duped homebuyers launched a social media campaign against the cricketer for
promoting the company. His wife was also associated with charity operations of
the group. As the Supreme Court is hearing the plea of around 46,000 homebuyers
against the group for cheating them by not delivering the flats and has ordered
attachment of all its properties besides those of its associate companies and
their directors, Dhoni approached the apex court to protect his financial
stakes. He pleaded the court to earmark certain land parcels of the group for
him to protect his interests. Dhoni, who was the marketing face of the real
estate company and was seen in various advertisements, told the court that the
company had entered into various agreements with him to promote its brand and
its various housing projects but it did not pay the money for his services and
claimed that a told amount of Rs 38.95 crore is due to him. The builder,
Amrapali group, owes an amount in excess of Rs 38.95 crore of which Rs 22.53
crore is towards the principal amount and Rs 16.42 crore towards interest
calculated at 18% simple interest per annum, he said.
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CBI ARRESTS TWO GST OFFICERS IN A BRIBERY CASE
The Central Bureau of
Investigation has arrested two Superintendents posted at the GST office, Pune
(Maharashtra) for demanding and accepting a bribe of Rs. One lakh from the
complainant. A case has been registered against the two Superintendents of GST,
Pune u/s120-B of IPC and Section 7 of PC Act, 1988 (as amended in 2018) on a
complaint. It was alleged in the complaint that both the accused demanded a
bribe of Rs. Three lakh from the complainant for settling the Service Tax
liability for the Financial Year 2016-17.
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NIRAV MODI EXTRADITION: JOINT CBI-ED TEAM TO LEAVE FOR LONDON
A joint CBI-ED team will soon
leave for London to assist local authorities in the extradition case of
fugitive diamantaire Nirav Modi whose bail plea will come for hearing before a
court there on Friday, officials said. A Joint Director-level officer each from
the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) have
been deputed to leave for London Wednesday with necessary documents, they said.
The ED officer will carry the latest charge sheet filed by the agency against
Modi's wife Ami and the recent attachments made by it in the case. The Indian
officials will meet various officers of that country, including those from the
Crown Prosecution Service (CPS), and brief them about the charges and fresh
evidence against Modi, his family and others in connection with the case.
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INCOME TAX DEPARTMENT RAISES RS 55 CR FROM SELLING NIRAV MODI
PAINTINGS
The income tax department
Tuesday evening auctioned the artworks owned by the absconding diamantaire
Nirav Modi. Of the gross proceeds, the department will get a net of Rs 54.84
crore, with the rest being the commission to the auction house Saffronart and
the buyers' premium. This is the first time that a government department has
sold artworks adopting the auction-route involving a professional art-house.
The department had put up a total of 68 works for auction to recover Rs 97
crore from the scamster. An untitled work by the abstract artist VS Gaitonde
fetched a winning bid of Rs 25.24 crore, including the buyer's premium, which
however, is lower than the Rs 29.3 crore his work had fetched in 2015, making
it the most expensive bid for an artwork from the country ever. The sale is
being undertaken under relevant sections of the Income Tax Act of 1961. The
department was looking to raise up to Rs 97 crore, which is the tax liabilities
of Modi shell firm Camelot Enterprises.
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FUGITIVE ECONOMIC OFFENDER TAG ON SANDESARA BROTHERS WILL
OVERRIDE SETTLEMENT OFFER TO BANKS: ENFORCEMENT DIRECTORATE
Even as lenders of
Sterling Biotech sought to recover dues through the One Time Settlement (OTS)
settlement, the Enforcement Directorate (ED) has urged the bankruptcy court
that the Fugitive Economic Offenders Act supersedes all the other laws
including the bankruptcy law. The enforcement agency is pursuing the Sandesara
brothers – Nitin and Chetan under Fugitive Economic Offenders Act. On Tuesday,
while submitting its reply, counsel for the ED informed the Mumbai bench of the
National Company Law Tribunal (NCLT) that the case is being heard in the
special court in Delhi. Out of total fraud of over Rs. 14,000 crore, the ED has
already attached the properties of promoters which are worth around Rs. 4,200
crore, the ED’s counsel argued before the tribunal. The newly enacted Fugitive
Economic Offenders Act (FEOA) supersedes all the other law and under this act,
properties of accused in India and abroad can be attached. Hence, all the
lenders should make their claim and representation to the special court in
Delhi, added the counsel. Meanwhile, Gaurav Joshi, senior advocate, who is
representing Andhra Bank lead consortium in the case, argued that, as lenders,
they are trying maximum recovery from the creditor and hence the top officials
of various banks including that of Andhra Bank, State Bank of India (SBI) among
others had collectively took decision to accept the OTS of promoters. The
promoters have already deposited over Rs 179 crore as token and they are
willing to deposit over Rs. 3,100 crore as OTS by end of June 2019, argued
Joshi further adding that company’s liquidation value is less than Rs. 300
crore and hence this pragmatic decision was taken by the lenders. Even after
this settlement, criminal proceedings against the promoters will still continue
and nothing will change on that front, he further added. The banks also
informed the tribunal that Sterling Biotech’s total debt is around Rs. 7,500
crore but the group’s total debt stands over Rs. 15,000 crore. Also, the
tribunal has also allowed the Ministry of Corporate Affairs (MCA), Reserve Bank
of India (RBI) and Securities and Exchange Board of India (SEBI) to file their response
in the case and has adjourned the case to April 26.
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INDIA SUCCESSFULLY TESTS A-SAT MISSILE TO SHOOT DOWN LEO
SATELLITE: PM MODI
India has become the fourth
country in the world to hit a Low Earth Orbit (LEO) satellite in space, with
Indian scientists using an anti-satellite missile to bring down an LEO
satellite. The mission was completed in 3 minutes. India has shot down an LEO
satellite to make 'Mission Shakti' a benchmark in the history of our country, said
Prime Minister Modi. Till now, only US, Russia and China had achieved this;
India has become the fourth country to achieve this feat, the Prime Minister
added.
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INDIA MUST SUPPORT ALL OPTIONS TO END CRISIS AT WTO’S DISPUTE
SETTLEMENT SYSTEM, SAYS EXPERT
India must play an active
role in resolving the WTO’s Appellate Body crisis triggered by the US by
supporting feasible options for the appointment of judges, a top legal expert
has said. There is a big chance that the US may declare the Appellate Body of
the WTO non-functional in December 2019, as there would be just one judge left.
India and other countries must then support Mexico’s proposal of appointing
judges through an administrative majority decision (selection done on the basis
of majority of vote cast), said Ernst-Ulrich Petersmann. The WTO’s dispute
settlement system is facing a crisis as the US has blocked the appointment of
appeals judges since last year, which has now resulted in the shrinking of the
numbers from seven to three. Two of the three judges are scheduled to retire on
December 10, following which appeals made by WTO members on panel reports can’t
be entertained. The Donald Trump regime had initially said the Appellate Body’s
functioning needed to be improved and that the body had been over-reaching and
creating laws through legal rulings. The EU and several other members including
India subsequently came up with proposals for inter-governmental reforms of the
dispute settlement system, but Washington’s goal posts changed.
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NIRAV MODI TO MAKE SECOND BAIL APPLICATION AT NEXT UK COURT
HEARING ON FRIDAY
Fugitive diamond merchant
Nirav Modi, wanted in India on fraud and money laundering charges amounting to
USD 2 billion, is set to appear before Westminster Magistrates Court in London
on Friday, when his legal team will make a second bail application. The
48-year-old had been denied bail by District Judge Marie Mallon at his first
hearing soon after his arrest by Scotland Yard officers from a central London
bank branch as he tried to open a new bank account and has been in custody at
HMP Wandsworth prison in south-west London since last Wednesday. He is expected
to be produced before the court for a second bail application hearing on March
29, a court official confirmed on Tuesday. Crown Prosecution Service (CPS)
barrister Jonathan Swain, arguing on behalf of the Indian authorities, had
objected to Modi's bail plea during last week's hearing, stressing that he was
wanted in India for high value and sophisticated fraud and money laundering
amounting to USD 2 billion. Judge Mallon had ruled in favour of the Indian
authorities, saying that she was convinced Modi had the means and incentive to
jump bail and fail to surrender. The next hearing in the case is expected to be
presided over by Chief Magistrate Emma Arbuthnot, the judge who ordered the
extradition of former Kingfisher Airlines boss Vijay Mallya to India last
December. That case is currently in the UK High Court as part of Mallya's
application seeking leave to appeal against her ruling. Further to the Mallya
case, India now has a template to refer to when dealing with the extradition
procedure of Nirav Modi from the UK, said Sarosh Zaiwalla. Describing him as
the opposite of a flight risk during the first bail application hearing last
week, Modi's defence team had offered 500,000 pounds as security and also
submitted to any stringent conditions that may be imposed upon their client. It
remains to be seen how they would further bolster that offer in order to
convince the judge to grant bail during the second hearing, following which the
case will proceed to a series of case management hearings and setting of a
trial date. The court was told that he has a contract of employment with
Diamond Holdings Ltd in London for a monthly salary of 20,000 pounds since
October last year and has been paying his local council tax. It also emerged in
court that Modi was in possession of multiple passports, since revoked by the
Indian authorities. While one passport is now in possession of the Metropolitan
Police, a second expired passport is lying with the UK Home Office and a third
with the UK's Driving and Vehicle Licensing Authority (DVLA) for a driver's
licence.
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‘VERY VERY SERIOUS’ REVELATIONS: SUPREME COURT ON CBI STATUS
REPORT ON SARADHA CHIT FUND SCAM
The Supreme Court has
termed the revelation made by the Central Bureau of investigation (CBI) in its status
report on the Saradha chit fund scam as very very serious. The observation came
with regard to the interrogation of former Kolkata Police chief Rajeev Kumar
recently. During the hearing, the bench headed by Chief Justice of India Ranjan
Gogoi said the court cannot close its eyes if some very very serious facts are
disclosed. The bench asked the probe agency to file an appeal seeking
appropriate relief against Kumar, who heading the state SIT on the chit fund
scam earlier. The bench, that also comprised Justices Deepak Gupta and Sanjiv
Khanna, gave 10 days to CBI to file the application. Kumar can respond to the
plea seven days after that. The top court said that since the CBI submitted its
status report in a sealed cover, it cannot pass any judgement without hearing
the other side.
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MIZORAM GOVT ASKS 94,000 CRORE; SUBMITS MEMORANDUM TO FINANCE
COMMISSION TEAM
Mizoram government has submitted
a memorandum to the visiting 15th Finance Commission team demanding Rs
94,647.33 crore for the state, officials said Tuesday. As part of its visit to
the different states across the country before submitting its recommendation,
the 15th Finance Commission team led by its chairman N K Singh arrived in
Mizoram on Monday. The Finance Commission team held meetings with the Mizoram
chief secretary Lalnunmawia Chuaungo and senior state government officials on
Monday. The state government has asked for an award of Rs 57,737.38 crore for
pre-devolution revenue status, Rs 17,357.90 crore for meeting requirements
under capital expenditure and Rs 5,779 crore for maintenance of state assets,
the officials said. Other financial proposals submitted included Rs 1,283.70
crore for implementation of enhanced pay of the seventh Central pay commission
for the state government employee. The memorandum also demanded Rs 1,000 crore
for State Disaster relief fund and state disaster mitigation fund, Rs 2,292.39
crore for local bodies including the autonomous district councils, urban and
rural local bodies and Sinlung Hills council, Rs 1,450 crore for maintenance of
forests and Rs 7,746.96 crore for state specific needs, they added.
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BJP FIELDS CANDIDATE WITH 11 CRIMINAL CASES, TMC SEEKS ARREST
In a state where political
parties have traditionally refrained from fielding bahubalis, 33-year-old BJP
candidate from West Bengal's Coochbehar Lok Sabha seat, Nisith Pramanik, stands
out with the dubious distinction of as many as 11 criminal cases against him.
According to a mandatory affidavit filed by Pramanik along with his nomination
papers, he declared he has 11 cases pending against him, his first brush with
the law being in 2009. Though West Bengal has a history of poll-related
violence, political parties in the state have generally kept bahubalis
(musclemen) away from public glare to go along with the Bengali 'bhadralok'
image of the educated middle-class. The latest criminal case filed against the
BJP candidate was on March 16 at Dinhata police station in Coochbehar district
for cheating and criminal breach of trust. Meanwhile, TMC candidate for
Coochbehar, Paresh Chandra Adhikary, said in his affidavit that he has no
criminal case pending against him. Adhikary, 66, who has cleared the higher
secondary examination, is a pensioner having Rs 4.21 lakh cash in hand,
according to the affidavit filed by him along with the nomination papers. He
has immovable assets of current market value of Rs 1.48 crore and movable
assets worth Rs 1.18 crore.
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VVIP CHOPPER CASE: DELHI COURT SENDS SUSHEN GUPTA TO 4-DAY ED
CUSTODY
A Delhi court Tuesday sent
Sushen Mohan Gupta, alleged defence agent arrested by the agency in the Rs
3,600-crore VVIP choppers scam, to 4-day ED custody. The Enforcement
Directorate (ED), which produced Gupta, before Special judge Arvind Kumar, had
sought his custody for 14 days. Gupta was arrested by the agency under the
Prevention of Money Laundering Act (PMLA).
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MADRAS HC UPHOLDS PUDUCHERRY MLA’S DISQUALIFICATION AFTER
CONVICTION IN DISPROPORTIONATE ASSETS CASE
The Madras High Court has upheld
the disqualification of All India NR Congress MLA Ashok Anand by the Puducherry
Assembly Speaker following his conviction in a disproportionate assets case A
division bench comprising Justice R Subbiah and Justice Krishnan Ramaswamy
dismissed a petition by Anand challenging his disqualification through an order
by the Speaker on November 8 last. The petitioner contended that the Speaker’s order
was issued without jurisdiction and appealed to the court to declare it as null
and void and restore his Assembly membership. Citing various provisions in the
Constitution, the Representation of the People Act and connected acts, the
bench dismissed the petition on Monday. The assets case was filed against
Anand’s father Anandane, a Puducherry government employee, for allegedly
amassing properties worth Rs 1.74 crore, disproportionate to his known sources
of income between 1997 and 2006, in the name of his wife and son. A case was
registered against them under the Indian Penal Code and the Prevention of
Corruption Act. During the trial, Anand’s mother died. A by-election is
scheduled to be held in the Thattanchavady constituency, vacated by Anand, on
April 18, along with parliamentary polls.
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DELHI HIGH COURT ADJOURNS HEARING OF APPEALS IN 2G SCAM CASE
The Delhi High Court on
Tuesday adjourned the hearing of appeals in cases of all those who were
acquitted by a special Central Bureau of Investigation (CBI) court in the 2G
scam case. The court said it would not proceed till its previous orders, which
required the respondents to file replies, as well as plant trees, were not
complied with. The next date of hearing has been fixed for 24 October 2019. A
special CBI court had, in December 2017, acquitted all the 17 accused in the
case relating to irregularities in the allocation of 2G telecom spectrum and
licences. This had led to the CBI filing an appeal against the acquittal of
former telecom minister A Raja and others on 20 March 2018. The court, in its
order dated 7 February 2019, had imposed costs for late replies by some of the
respondents and asked them to plant500 trees each in the 177 acres of land in
the South Delhi Ridge area. They were directed on the nature and number of
trees to be planted. Also, they were asked to ensure the upkeep and maintenance
of those trees with photograph proofs.
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CLASSIC CONGRESS STYLE VOLTE-FACE, SAYS BJP AFTER RANDEEP
SURJEWALA CONTRADICTS RAHUL GANDHI OVER INCOME SCHEME
A day after Congress
president Rahul Gandhi described the minimum income guarantee scheme as a
‘top-up’ plan, Randeep Surjewala contradicted his party chief on Tuesday. The
Congress national spokesperson said the Nyunatam Aay Yojana (Nyay) will entitle
poor family Rs 72,000 per annum The different versions of the scheme by the
Congress leaders gave the Bharatiya Janata Party ample ammunition to target
them. The BJP posted videos of press conferences of both Rahul Gandhi and
Randeep Surjewala to target the Congress. Calling it a ‘volte-face’ by the
Congress over the promise of minimum income guarantee, the saffron party said
that the Congress is misleading the people of the country. Classic Congress
style volte-face within 24 hours. They are misleading the people of this
country and can never be trusted, the BJP said. Suppose your income is Rs 6,000
then the government would top-up it with Rs 6,000, Rahul Gandhi can be heard
saying in the video posted by the BJP on Twitter. I repeat it is not a top-up
scheme. Each family would get Rs 72,000; 5 crore families, 25 crore people,
Surjewala is heard saying in the second sound byte.
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INDIA UNLIKELY TO IMPLEMENT TIT-FOR-TAT TARIFF HIKES AGAINST
THE US ON 1 APRIL
Despite the US withdrawing
zero duty benefits on India’s exports worth $5.6 billion, India is unlikely to impose
the long pending retaliatory tariffs against the unilateral steel and aluminium
duty hikes by the Donald Trump administration. India is likely to opt for the
safe option of yet again extending the deadline by another month after the
current deadline expires on 31 March. Allowing the notification for retaliatory
tariffs to lapse at this time will send a wrong signal and will show Indian
government in poor light. Hence, the deadline for its implementation may be
further extended. A final decision will be taken by the Prime Minister’s
Office, a commerce ministry official said speaking under condition of
anonymity. Another commerce ministry official said the ministry was keen that
the prime minister write a letter to US president Trump requesting to extend
the 60 day deadline by another 60 days to allow a new government at the Centre
to revive negotiations for a trade package. However, prime minister was
unwilling given the ongoing electoral process. He has asked trade minister
Suresh Prabhu instead to write a letter to his US counterpart conveying the
same message, the official added.
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INDIAN ARMY TO GET FIRST ‘MAKE IN INDIA’ M777 HOWITZER GUN BY
YEAR-END
By the end of the fourth
quarter of 2019, a new M777 Howitzer gun, assembled, integrated and tested at
the Mahindra Defence facility will be ready for rollout, a BAE Systems
executive tells Financial Express Online. The Indian Army has placed an order
for 145 ultra-light weight Howitzer guns with BAE Systems under the ‘Make in
India’ programme. Out of these 145 howitzer guns, 25 will come in a flyaway
condition and the rest 120 will be assembled in India at the Mahindra Defene
facility. Under the ‘Make in India’, the foreign original equipment
manufacturer BAE Systems has tied up with India’s private sector firm Mahindra
Defence for the completion of the $750 million deal. According to Nik Khanna,
Managing Director, BAE Systems India, starting with the 26th M777, the entire
assembly, integration and test of the M777 will happen in India. We are 1.5
years into the programme delivery of the M777s. The first 5 guns on the 145
foreign military sales have now been handed over to the Indian Army. The tie-up
with Mahindra Defence is our testament to our Make in India commitment. It is a
complete Assembly, Integration and Test (AIT) facility, Khanna told Financial
Express Online. One special feature of the M777 is that it can be readily
airlifted on a Boeing Chinook heavy-lift helicopter. The Indian Air Force (IAF)
has recently inducted the first batch of Chinook helicopters. This means that
at a very short notice, both troops and artillery guns can be transported by
Chinooks to border areas in Jammu and Kashmir, giving India ready firepower
along its borders.
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GUATEMALA DRAGS INDIA TO WTO'S DISPUTE MECHANISM OVER SUGAR
SUBSIDIES
After Brazil and
Australia, Central American country Guatemala Monday dragged India into the World
Trade Organisation's (WTO) dispute settlement mechanism alleging that New
Delhi's sugar subsidies to farmers are inconsistent with global trade rules
Guatemala has sought consultations with India under the rules and procedures
governing the settlement of disputes of the Geneva-based 164-member WTO. They
have filed dispute under certain articles of WTO's Agreement on Agriculture,
Agreement on Subsidies and Countervailing Measures and the General Agreement on
Tariffs and Trade 1994 with respect to domestic support measures maintained by
India in favour of producers of sugarcane and sugar, and export subsidies for
sugarcane and sugar, according to a communication by the WTO, which was
submitted by Guatemala. It said that India maintains various domestic support
measures in favour of sugarcane and sugar producers, such as a system of
administered prices for sugar cane which operates at the federal level through
the Fair and Remunerative Price; a minimum selling price for sugar; and
additional measures that provide financial assistance to sugarcane producers
which include production subsidies to mills to offset sugarcane price arrears,
and subsidies to maintain buffer stocks. In addition to domestic support
measures, India provides export subsidies for sugarcane and sugar which take
the form of subsidies provided to sugar mills contingent on compliance with
minimum indicative export quotas, as well as subsidies to sugar mills for
internal transport, freight, handling and other charges to facilitate export freight
support for exports, the communication added. Guatemala considers that the
measures identified appear to be inconsistent with certain articles of the
Agreement on Agriculture because they provide product-specific domestic support
for sugarcane in excess of the 10 per cent de minimis level.
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HOW PAKISTAN FAILED TO DO A BALAKOT-TYPE STRIKE ON INDIA ON
FEBRUARY 27
A day after the Indian Air
Force (IAF) carried out aerial strikes on a Jaish-e-Mohammad (JeM) terrorist
camp in Balakot, the Pakistani Air Force tried to carry out a similar attack
against Indian military targets but failed to do so. On February 27, the
Pakistani Air Force with its package of more than 20 planes led by the American
F-16s along with the French Mirage-IIIs and Chinese JF-17, fired 11 H-4 1,000
kg bombs from ranges of around 50 kms inside their territory at military
targets at three locations but failed to hit any of them, government sources
revealed. The H-4 bombs fired by the Mirage-IIIs of the Pakistan Air Force are
classified as stand-off weapons which can be launched from a distance to aid in
quicker evasive manoeuvres of jets that fire them, similar to the Spice-2000
bombs used by the Indian Air Force in the Balakot strikes. H-4 bombs are made
by Pakistan with the assistance of South Africa. The H-4s are not very accurate
and missed their targets. In one of the attacks on an army camp in Jammu and
Kashmir, the building was protected by a tall and thick tree which suffered extensive
damage but deflected the Pakistani bomb, the sources added. It is learnt that
senior officers were present inside the campus when the attacks took place. The
three locations where the bombs fell are in Poonch and adjoining sectors. A
Board of Officers has been formed to analyse the remains of the Pakistani bombs
and other debris from the explosion caused by the bombs. The Pakistani fighter
planes had taken off from different bases on February 27 and started gathering
over Pakistan occupied Kashmir and their Northern Areas before they turned
around to launch attacks on Indian military targets. The most advanced
Pakistani fighter F-16s were used for launching the air-to-air missiles against
Indian fighter jets defending air space while the Mirage IIIs were used for
launching air to ground missiles in the attacks. It was during this aggression
that Wing Commander Abhinandan Varthaman shot down an F-16 plane using his R-73
air-to-air missile fired from his MiG-21 plane.
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TEST OF WITS: FORENSICS LAB GETS MACHINE TO READ CRIMINAL
MINDS
Whether it was the Aarushi
murder or the case of alleged serial rapist Sunil Rastogi, investigators have
found it beneficial to go for a study of the suspect’s brain. This helps them understand
the suspect’s psyche as well as the case. However, with only one facility in
the country catering to a large number of applications, it’s tough to conduct
the procedure in time In what will be a boost to investigations being done by
police in Delhi and adjoining states, the capital’s forensics lab has now
acquired a brain-mapping machine. It will soon start accepting cases in which
deception detection tests are required. The move is significant as such a
facility currently exists only in the forensics department in Gujarat. Not only
police, but anti-terror units like Special Cell, National Investigation Agency,
CBI and UP’s anti-terror squad (ATS) can use the facility without having to
rush all the way to Ahmedabad.
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APPLE VIOLATED QUALCOMM PATENT; JUDGE FOR IMPORT BAN ON
CHINA-MADE IPHONES
Apple Inc. infringes a
Qualcomm Inc. patent and some imported iPhones should be blocked from the U.S.
as a result, a U.S. trade judge said in one of two cases before the U.S.
International Trade Commission. ITC Judge MaryJoan McNamara said she would be recommending
an import ban on certain model iPhones, which are made in China, according to a
notice posted on the Washington agency’s electronic docket. The judge found no
violation of two other Qualcomm patents in the case. The judge’s findings are
subject to review by the full commission, which has the power to block imports
of products that infringe U.S. patents. A final decision is expected by July.
Qualcomm jumped as much as much as 2.6 percent in New York and were trading at
$58.11 at 3 p.m. Apple pared gains and was down less than one percent. The
judge’s full findings aren’t yet public, and won’t be until both sides get a
chance to redact confidential information. The case is one of two that Qualcomm
brought at the trade agency, seeking an import ban on iPhones to give it
greater leverage in technology licensing negotiations. Qualcomm says it’s due
billions of dollars in unpaid royalties on the iPhone as the two tech giants
argue over the value of the chipmaker’s patents. The commission is scheduled to
release its final decision in the other case later Tuesday. In that case, a
separate trade judge found a violation of a different Qualcomm patent, but
recommended that no import ban be imposed. In this case, Qualcomm contended
that Apple iPhones with Intel Corp. chips infringed two patents related to ways
to improve the speed and quality of data downloads and one for a power-saving
feature. It’s seeking an order that would ban imports of those iPhones. The
judge’s finding of infringement related to the power-saving feature. We
appreciate Judge McNamara’s recognition of Apple’s infringement of our hardware
patent and that she will be recommending an import ban and cease and desist
order, Qualcomm General Counsel Don Rosenberg said in a statement. The original
complaint linked that patent only to the iPhone 7 and iPhone 7 Plus, but it was
unclear which models would be affected by this decision. The Federal Trade Commission
has accused Qualcomm of using its patents on industry standards to shut
competitors out of the market and demand high licensing fees, and the two sides
await a judge’s ruling in that case. The patents in this case don’t relate to
standardized technology but Apple claims Qualcomm is using the ITC to maintain
monopoly power.
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UN SECURITY COUNCIL PANEL FINDS COSMOS BANK CYBER ATTACK
MOTIVATED BY N KOREA
A panel of experts
appointed by the UN Security Council has stated that the cyber attacks on
Pune-based Cosmos Cooperative Bank, from which hackers allegedly withdrew Rs 94
crore from ATMs in 28 countries, was motivated by North Korea. The panel was
set up to study various UN sanctions breached by North Korea. Its report comes
nearly seven months after the malware attack on the bank. The panel notes a
trend in the Democratic People’s Republic of Korea’s evasion of financial
sanctions of using cyber attacks to illegally force the transfer of funds from
financial institutions and cryptocurrency exchanges, the report said. The Pune
Police and the Maharashtra Cyber Cell probing the case are yet to trace the
mastermind in the case. So far, 12 people have been arrested by a special
investigation team of the Pune Police. Sources said the local module busted by
the police could be money mules — people who serve as intermediaries for
criminals and criminal organisations — acting on behalf of operators abroad. We
have learnt about the (UNSC) report but are yet to study it, deputy
commissioner of Pune Police Sambhaji Kadam told.
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TERRORISTS ARRESTED IN PATNA WITH ISIS POSTERS, TROOP
DEPLOYMENT DOCS
Two Bangladeshi nationals
with alleged links to terror outfits have been arrested near Patna Junction
railway station and documents related to deputation of central forces in Jammu
and Kashmir have been found from them, officials said Tuesday. The duo --
Khairul Mandal and Abu Sultan from Jhenaidah district of Bangladesh -- are
associated with the terror outfit Jamiat-Ul-Mujahideen Bangladesh (JMB) and
Islamic State Bangladesh (ISBD), it said. The ATS team acting on specific
inputs had caught the two Bangladeshi men from a motorcycle stand adjacent to
Madni Musafirkhana, a lodge near the railway station. They were produced before
the ATS court, which sent them to jail, the statement said. Police have also
seized three mobile phones, a memory card, two fake voter identity cards, a
fake PAN card, railway tickets from Gaya to Patna and New Delhi to Howrah and
also a bus ticket from Kolkata to Gaya from them, it said. The two had entered
the country without any legal document and had procured fake voter identity
cards, the statement said, adding they were tasked by the head of JMB to lure
and induct Muslim youths into the outfit.
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INDIA, CHINA, US SEE 70% RISE IN ENERGY DEMAND: IEA
China, the US and India
together accounted for nearly 70 per cent of the rise in energy demand even as
such demand worldwide grew by 2.3 per cent last year, at its fastest pace this
decade, the International Energy Agency (IEA) said on Tuesday. This exceptional
rise in energy demand was driven by a robust global economy and stronger
heating and cooling needs in some regions, according to the IEA report. The
Global Energy & CO2 Status Report also said that China remains the global
leader in renewables -- both for wind and solar. Natural gas emerged as the
fuel of choice, posting the biggest gains and accounting for 45 per cent of the
rise in energy consumption. Gas demand growth was especially strong in the US
and China. These findings are part of the IEA's latest assessment of global
energy consumption and energy-related carbon dioxide (CO2) emissions for 2018.
The report provides a high-level and up-to-date view of energy markets,
including latest available data for oil, natural gas, coal, wind, solar,
nuclear power, electricity and energy efficiency. Demand for all fuels
increased, with fossil fuels meeting nearly 70 per cent of the growth for the
second year running. As a result, global energy-related carbon dioxide
emissions rose by 1.7 per cent to 33 gigatonnes (Gt) in 2018. The US saw the
largest increase in oil and gas demand worldwide. Its gas consumption jumped 10
per cent from the previous year, the fastest increase since the beginning of
IEA records in 1971.
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U.S.-CHINA TRADE WAR POSES THE BIGGEST RISK TO GLOBAL
STABILITY, SAYS IMF OFFICIAL
The U.S.-China trade war
poses the biggest risk to global stability and fiscal stabilisation is needed
to respond to economic shocks in Europe, IMF First Deputy said on Monday.
Obviously, this is not a matter for Europe alone. The United States needs to get
its fiscal house in order as well. U.S.-China trade tensions pose the largest
risk to global stability, Mr. Lipton said. The trade dispute, which began eight
months ago, had affected the flow of billions of dollars of goods between the
biggest and second-biggest economies in the world. Mr. Lipton said he believed
fiscal stabilisation capacity must be at the heart of risk reduction in Europe,
describing it as crucial to respond to macroeconomic shocks and improve the
fiscal-monetary policy mix. In its absence, the Euro area will remain
over-reliant on monetary policy for stabilisation and too much of the burden of
crisis response will fall on individual countries, with their ability to
respond depending on each country’s fiscal space. Mr. Lipton said Britain’s
planned exit from the EU was also breeding uncertainty in Europe and beyond. A
serious recession could be very damaging for these countries, because they will
be shown to be ill-prepared, he said. Their weaknesses could present a serious
setback for Europe’s goal of convergence of standards of living, productivity,
[and] of national well-being.
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PAKISTAN SUPREME COURT GRANTS 6 WEEKS BAIL TO FORMER PM NAWAZ
SHARIF ON MEDICAL GROUNDS
Pakistan's Supreme Court
agreed on Tuesday to release former Prime Minister Nawaz Sharif on bail for six
weeks to receive medical treatment but said he would not be allowed to leave
the country. Sharif is serving a seven-year sentence imposed last year for
failing to disclose the source of income that allowed him to acquire the
Al-Azizia Steel Mills in Saudi Arabia.
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EUROPEAN PARLIAMENT ADOPTS COPYRIGHT REFORM IN BLOW TO BIG
TECH GIANTS
The European Parliament on
Tuesday adopted controversial copyright reforms championed by news publishers
and the music business, delivering a blow to the tech giants that lobbied
furiously against it. Despite an intense debate in parliament, MEPs meeting in
Strasbourg ended up passing the draft law with 348 votes in favour, 274
against, and 36 abstentions. European lawmakers were sharply divided on the
copyright issue, with both sides subjected to some of the most intense lobbying
the EU has ever seen from tech giants, media firms, content creators and online
freedom activists. The reform was loudly backed by media companies and artists,
who want to obtain a better return from web platforms such as YouTube or
Facebook that allow users to distribute their content. But it was strongly
opposed by some of those same internet giants such as YouTube's owner Google,
which make huge profits from the advertising generated on content they host,
and also by supporters of a free internet who fear it will result in
unprecedented restrictions to web freedom. The final days before the vote were
marked by marches and media stunts, including tens of thousands of people
protesting in Germany on Saturday under the slogan Save the Internet. I know
there are lots of fears about what users can do or not -- now we have clear
guarantees for freedom of speech, teaching and online creativity, Commission
Vice President Andrus Ansip said after the vote. Copyright is not censorship,
it is freedom of creation and diversity of information, the French presidency
said in a tweet. Without copyright, there is no longer a Europe of innovation
and culture.
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XI SAYS EU, CHINA 'ADVANCING TOGETHER' DESPITE 'SUSPICIONS'
Chinese President Xi
Jinping said Tuesday that China and Europe were advancing together but that the
two trading blocs needed to overcome suspicions. Of course there are
differences and competition, but it's positive competition, Xi told. We are
advancing together. We shouldn't let suspicions lead us to be constantly
looking backwards. No one is naive but we respect China, Macron said, while
adding that EU leaders naturally expect our major partners to respect the unity
of the European Union and the values that it has and carries in the world.
Referring to China's vast New Silk Road infrastructure project connecting the
country with Europe, which has sparked unease in the EU, Merkel said: We
Europeans want to play a role. But, she added, there has to be a bit of
reciprocity on either side and we have a bit of difficulty in finding it. Juncker
said that labelling China a rival was meant as a compliment to the country.
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PENTAGON AUTHORISES $1 BN FOR DONALD TRUMP'S US-MEXICO BORDER
WALL
Acting Pentagon chief
Patrick Shanahan said Monday he had authorized USD 1 billion to build part of
the wall sought by President Donald Trump along the US-Mexico border. The
Department of Homeland Security asked the Pentagon to build 92 kilometers of
5.5-meter fencing, build and improve roads, and install lighting to support
Trump's emergency declaration as concerns the border. Shanahan authorized the
commander of the US Army Corps of Engineers to begin planning and executing up
to USD 1 billion in support to the Department of Homeland Security and Customs
and Border Patrol, a Pentagon statement read.
#For Source of Information copy and paste the heading in google.
Thanks & Regards,
CS Meetesh Shiroya
Thanks & Regards,
CS Meetesh Shiroya
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