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RelevanceDefaultDate
    December 30, 2016
    Direct Tax Dispute Resolution Scheme- 2016 extended up to 31st January, 2017
    December 30, 2016
    Awareness about Copyrights pertaining to Film and TV Industry emphasised to counter piracy
    December 29, 2016
    Arun Jaitley rubbishes critics, says note ban effect not adverse
    December 26, 2016
    India needs globally compatible tax rates: Jaitley
    December 26, 2016
    No intention of govt to impose long-term capital gains tax: FM
    December 22, 2016
    Make in India 'Skill Development Sector'- Achievement Report
    December 20, 2016
    Release of Central Assistance of ₹ 450 crore to the State of Telangana for development of backward areas in terms of provisions under Andhra Pra...
    December 20, 2016
    DRI seizes 85.58 lakhs Cigarette sticks of foreign origin (Indonesian) with a market value of about ₹ 10 crore at ICD Tughlaqabad
    December 20, 2016
    PFRDA Organizes Conference for State Governments to Discuss Implementation of National Pension System
    December 16, 2016
    The Union Government’s Annual Accounts for 2015-16 along with the Audit Report of the Comptroller & Auditor General of India presented in Parliament
    December 14, 2016
    Select base metals weaken on lower demand
    December 14, 2016
    Recognition of Products under GI Classification
    December 14, 2016
    Temporary Work Visa for IT Professionals
    December 14, 2016
    Border Haats
    December 14, 2016
    Index Numbers of Wholesale Price in India (Base: 2004-05=100)
    December 10, 2016
    Government withdraws exemptions given for the use of ₹ 500/- old notes, from the mid night of December 9, 2016, for making payments at railway t...
    December 8, 2016
    Package for Promotion of Digital and Cashless Economy
    December 8, 2016
    India-UK ease of doing Business Conference
    December 8, 2016
    Govt to waive service tax on card transactions up to ₹ 2,000
    December 8, 2016
    Cabinet approves Nutrient Based Subsidy rates for Phosphatic and Potassic fertilizers for the year 2016-17
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    News
    All› News and Press Release › News and Press Release - 2016
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    December 30, 2016
    Direct Tax Dispute Resolution Scheme- 2016 extended up to 31st January, 2017
    Show AI Summary
    Direct Tax Dispute Resolution Scheme extension grants taxpayers additional time to avail scheme following its statutory introduction.
    The Direct Tax Dispute Resolution Scheme closing date has been administratively extended to allow additional taxpayer participation; the Scheme, enacted to reduce pending litigation, was instituted by statute and brought into force by official notification, with details and the revised deadline published on the department's website.
    December 30, 2016
    Awareness about Copyrights pertaining to Film and TV Industry emphasised to counter piracy
    Show AI Summary
    Copyright enforcement urged: adopt anti piracy unit models and run public awareness campaigns to curb film and TV piracy.
    The Department endorsed the Telangana Intellectual Property Crime Unit model for anti piracy enforcement and recommended its adoption by other states to protect copyright protected film and television content. Participants discussed implementation of the Copyright Law and urged the industry to run public awareness campaigns, particularly aimed at youth, to reduce piracy and support enforcement efforts.
    December 29, 2016
    Arun Jaitley rubbishes critics, says note ban effect not adverse
    Show AI Summary
    Demonetisation seen as less adverse; finance minister cites higher tax collections and renewed economic activity.
    Demonetisation was portrayed as less adverse than predicted, with a sharp rise in tax collections and renewed economic activity including winter crop sowing; remonetisation has advanced substantially without unrest. The Finance Minister, however, declined to forecast annual GDP growth or specify how increased revenues might affect upcoming budget tax proposals.
    December 26, 2016
    India needs globally compatible tax rates: Jaitley
    Show AI Summary
    Globally compatible tax rates needed to broaden the tax base and enhance voluntary taxpayer compliance.
    A lower, internationally competitive tax regime is needed to broaden the economic base and enhance competitiveness; tax administration should foster voluntary tax compliance by trusting taxpayers as a default and employing wider audits only in objectively selected cases, using selective scrutiny and confidence-building measures to increase compliance.
    December 26, 2016
    No intention of govt to impose long-term capital gains tax: FM
    Show AI Summary
    Long-term capital gains tax: no proposal to impose on share transactions; government reiterates existing exemption and transparency goals.
    No new levy of long-term capital gains on listed equity transactions is intended; the government has no proposal to impose such a tax. Currently, gains on sale of listed securities after a holding period of one year are exempt, while shorter-holding profits remain subject to short-term capital gains taxation and all market trades attract securities transaction tax. Policymakers indicated a desire for fair, transparent tax design to ensure appropriate contribution from market participants without changing the existing exemption.
    December 22, 2016
    Make in India 'Skill Development Sector'- Achievement Report
    Show AI Summary
    Skill development sector expanding through PMKVY, NSQF alignment, ITI upgrades and apprenticeship incentives to increase employability.
    The report sets out the national skilling strategy centred on PMKVY targeting 10 million trainees (2016-2020), NSQF alignment of qualifications, apprenticeship reforms to expand employer led apprenticeships and the National Apprenticeship Promotion Scheme, and institutional upgrades of ITIs and establishment of Pradhan Mantri Kaushal Kendras via NSDC. It highlights capacity building for trainers, sectoral National Occupational Standards through Sector Skill Councils, targeted women's skilling initiatives, and supporting measures including a Skill Loan scheme and entrepreneurship training.
    December 20, 2016
    Release of Central Assistance of ₹ 450 crore to the State of Telangana for development of backward areas in terms of provisions under Andhra Pradesh Reorganisation Act, 2014
    Show AI Summary
    Special assistance under the reorganisation act enables targeted development of backward districts through central funding and state schemes.
    Central government provision of additional special assistance to the State of Telangana pursuant to reorganisation statute provisions supports targeted development of nine designated backward districts by funding expansion of physical and social infrastructure and enabling state-devised schemes to mitigate regional backwardness and alleviate poverty, supplementing a prior allocation to create cumulative central support for this purpose.
    December 20, 2016
    DRI seizes 85.58 lakhs Cigarette sticks of foreign origin (Indonesian) with a market value of about ₹ 10 crore at ICD Tughlaqabad
    Show AI Summary
    Packaging and labeling non-compliance leads to seizure of misdeclared imported cigarettes lacking statutory health warnings.
    Officers of the Delhi Zonal Unit, Directorate of Revenue Intelligence seized a forty foot container at ICD Tughlaqabad containing 85.58 lakh imported cigarette sticks declared as packing material; the consignment was misdeclared and included Indonesian brands. The seizure was effected due to regulatory non compliance: the cigarette packets did not carry the required statutory health warning covering 85% of the surface area under the Cigarettes and Other Tobacco Products (Packaging and Labeling) Rules, 2008. The case is under investigation.
    December 20, 2016
    PFRDA Organizes Conference for State Governments to Discuss Implementation of National Pension System
    Show AI Summary
    NPS implementation timelines: State governments urged to adopt rules, ensure coverage, grievance redressal and training.
    State governments are urged to operationalize National Pension System implementation by framing timelines, issuing state-specific NPS rules, fixing salary dates for accountability, and designating nodal officers responsible for timely execution; appointment of an Ombudsman, use of the Centralized Grievance Management System, consideration of a second Central Recordkeeping Agency, and user-facing enhancements such as mobile contributions and online PRAN generation were emphasized to improve subscriber engagement and grievance resolution.
    December 16, 2016
    The Union Government’s Annual Accounts for 2015-16 along with the Audit Report of the Comptroller & Auditor General of India presented in Parliament
    Show AI Summary
    Presentation of Annual Accounts: Union annual accounts and audit report tabled, outlining appropriations and financial statements.
    Presentation of the Union Government's annual accounts and audit report to Parliament effected tabling of the statutory financial statements. The Appropriation Accounts set out actual expenditure by Ministries and Departments against parliamentary appropriations, while the Finance Accounts present receipts and expenditure from the Consolidated Fund and the balances of Public Debt and assets and liabilities in the Public Account; the audit report accompanies these statements to inform parliamentary scrutiny.
    December 14, 2016
    Select base metals weaken on lower demand
    Show AI Summary
    Base metals prices fall as stockist selling and weak industrial demand push declines, while cable scrap shows slight recovery.
    Select base metals in the non-ferrous market weakened due to sustained stockist selling and softer industrial demand, affecting copper, brass, lead, tin and nickel across finished and scrap categories; copper cable scrap, however, recovered marginally on fresh industrial demand.
    December 14, 2016
    Recognition of Products under GI Classification
    Show AI Summary
    Geographical indications recognised under TRIPS; government publishes registered product list and northeastern GI entries, Bhut Jolokia not registered.
    The release records that numerous products have been registered as Geographical Indications since the regime began and confirms Geographical Indications are recognised under the international intellectual property framework of TRIPS; the Paris Convention does not explicitly reference Geographical Indications but covers Appellations of Origin. It states there is no Geographical Indication for Bhut Jolokia green chillies and publishes an annexure listing northeastern products with their GI classification by type of goods and state of origin.
    December 14, 2016
    Temporary Work Visa for IT Professionals
    Show AI Summary
    Temporary work visas: diplomatic and multilateral engagement to challenge visa fees and pursue social security coordination for IT professionals.
    India has pursued diplomatic and multilateral challenges to US measures affecting temporary work visas, including fee increases and numerical commitments for H 1B and L 1 categories, and is concurrently negotiating a bilateral Totalization Agreement to address social security coordination for mobile IT professionals while continuing engagement in trade and strategic dialogues to facilitate movement of professionals.
    December 14, 2016
    Border Haats
    Show AI Summary
    Border haat trade permitted in local currencies and barter to support cross border local markets and community wellbeing.
    Establishment and operation of border haats permit authorised local cross border trade in Indian Rupees, Bangladesh Taka or by barter, with trade data maintained by Haat Management Committees; four haats are operational and six additional haats have been approved for India-Bangladesh, while a Memorandum of Understanding with Myanmar addresses establishment of haats on that border to promote the wellbeing of remote border communities through traditional local markets.
    December 14, 2016
    Index Numbers of Wholesale Price in India (Base: 2004-05=100)
    Show AI Summary
    Wholesale Price Index shows marginal monthly rise and annual inflation moderating, driven by fuel gains and primary article declines.
    Wholesale Price Index for All Commodities (Base 2004-05=100) for November 2016 recorded a marginal month on month rise to 183.1 and an annual inflation rate of 3.15 percent; Primary Articles declined overall while Fuel & Power rose significantly and Manufactured Products experienced a modest increase, with detailed sub group price movements and six month trends provided in annexures.
    December 10, 2016
    Government withdraws exemptions given for the use of ₹ 500/- old notes, from the mid night of December 9, 2016, for making payments at railway ticketing counters, ticket counters of Government or Public Sector Undertakings buses for purchase of tickets; For making payments to catering services on board, during travel by rail; and For making payments for purchasing tickets for travel by suburban and metro rail services
    Show AI Summary
    Exemption withdrawal for old high-denomination notes restricts their use for rail and metro ticketing and onboard catering.
    Withdrawal of exemptions rescinds prior limited acceptance of old high-denomination 500 notes for railway and government/public sector bus ticketing, for payments to on-board rail catering services during travel, and for purchase of suburban and metro rail tickets, effective midnight of December 9, 2016, reflecting reduced receipts of those notes and a policy push toward digital transactions.
    December 8, 2016
    Package for Promotion of Digital and Cashless Economy
    Show AI Summary
    Digital payment incentives drive cashless adoption via discounts, fee absorption, rural POS deployment, and card issuance support.
    A package of administrative incentives promotes digital payments through transactional discounts for fuel, suburban railway tickets, paid railway services and tolls, free accidental insurance for online ticket purchasers, premium discounts by public sector insurers for digital sales, non-passing of transaction fees/MDR to consumers with service tax exemption on low-value MDR, capped merchant terminal rentals, and NABARD-supported POS deployment and Rupay Kisan Card issuance to enable rural and agricultural digital transactions.
    December 8, 2016
    India-UK ease of doing Business Conference
    Show AI Summary
    Ease of Doing Business partnership promotes regulatory reforms between India and UK to share best practices and boost investment.
    The India-UK partnership on Ease of Doing Business advances a bilateral programme to exchange expertise and best practice under a Memorandum of Understanding, convening central and state government officials with UK experts to pursue regulatory reform, inspection reform, tax administration, trade facilitation, electricity provision, insolvency, land registry and standards, and to present state-level action plans and implementation strategies.
    December 8, 2016
    Govt to waive service tax on card transactions up to ₹ 2,000
    Show AI Summary
    Service tax exemption on card transactions promotes digital payments amid cash shortage following demonetisation; government policy announced.
    The government will exempt services by an acquiring bank in relation to settlement of an amount up to Rs. 2,000 in a single transaction through credit, debit card or other payment card service, and will amend the Service Tax Notification of June 2012 to include this exemption to promote digital transactions following withdrawal of specified high-denomination banknotes.
    December 8, 2016
    Cabinet approves Nutrient Based Subsidy rates for Phosphatic and Potassic fertilizers for the year 2016-17
    Show AI Summary
    Nutrient Based Subsidy maintained for phosphatic and potassic fertilizers, with requirement that price falls be passed through to MRPs.
    Nutrient Based Subsidy rates for phosphatic and potassic fertilizers are rolled over for the second half of the financial year, maintaining per kg subsidy levels for N, P, K and S for October-March, and continuing the existing subsidy framework for farmers for that period. The approval requires that any fall in international fertilizer prices be reflected by fertilizer companies through reductions in maximum retail prices for P&K fertilizers.

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      News and Press Release

      Awareness about Copyrights pertaining to Film and TV Industry emphasised to counter piracy

      December 30, 2016

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      The Department of Industrial Policy and Promotion (DIPP) convened a meeting of Stakeholders including producers from film and TV industry to discuss copyright and related issues concerning the industry on 28.12.2016 in New Delhi.  The meeting was chaired by Mr. Rajiv Aggarwal, Joint Secretary

      The Department appreciated the efforts being initiated by the ‘Telangana Intellectual Property Crime Unit’ (TIPCU) to curb piracy of copyright protected material and expressed the need to adopt this model by other states also to check this menace within their respective jurisdiction.  The participants also expressed their views on various provisions of the Copyright Law and their effective implementation to counter piracy. The department exhorted the industry to undertake measures to create awareness in the general public, especially the youth, about piracy and its ill-effects.

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