"06 February 2017" Archive

Measures to Protect & Promote Domestic Steel Industry Against Cheap Steel Imports

The Ministry of Steel has brought cold reduced low carbon sheets and strips and cold rolled strips under the quality control order vide order dated 18th December 2015....

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Posted Under: Custom Duty |

12 Steps To Reduce Road Accidents By 50 Percent by Year 2020

Ministry of Road Transport and Highways has taken a number of steps to prevent road accidents as per details mentioned under: i. The Government has approved a National Road Safety Policy. This Policy outlines various policy measures such as promoting awareness, encouraging safer road infrastructure including application of intelligent tra...

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Posted Under: Custom Duty |

Steps Taken to Encourage Use of Digital Payment at Petrol Stations

Ministry of Petroleum and Natural Gas has taken the following steps/actions to encourage consumers for use of digital payment methods at various petrol pumps in the country to promote cashless transactions - ...

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Posted Under: Custom Duty |

3.56 Cr fake/duplicate accounts identified for 2015-16 under PAHAL

Implementation of PAHAL has resulted in identification of 3.34 crore and 3.56 crore ghost/fake/duplicate accounts during Financial Year 2014-15 and 2015-16 respectively. The total subsidy / under recovery on domestic LPG during the financial years 2014-15 and 2015-16 was Rs. 40569 crore and Rs 16074 crore, respectively....

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Posted Under: Custom Duty |

Employees Enrolment Campaign, 2017 to expand EPF Ambit

To bring in more employees from public and private sector into the ambit of Employees’ Provident Fund Organization (EPFO), an Employees’ Enrolment Campaign, 2017 has been launched for the period 01.01.2017 to 31.03.2017....

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Posted Under: Custom Duty |

50 lacs Universal Account Number allotted to Construction Workers

Universal Account Number (UAN) allotted to construction workers is over 50 lakhs as on 17.01.2017. The Government has enacted the Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996 and the Building and other Construction Workers’ Welfare Cess Act, 1996 to regulate the employment and co...

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Posted Under: Custom Duty |

Rationalisation of Labour Laws

Reforms in labour laws are an ongoing process to update legislative system to address the need of the hour and to make them more effective and contemporary to the emerging economic and industrial scenario....

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Posted Under: Custom Duty |

India / Austria Sign Protocol amending India-Austria Double Taxation Avoidance Convention

India and Austria signed a Protocol amending the existing Convention between the two countries for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income here today. The Protocol was signed by Shri Sushil Chandra, Chairman CBDT on behalf of India and Mr. Georg Zehetner, Charge d’ Affaires, Emba...

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Posted Under: Custom Duty |

Post demonetization Cashless transaction to milk producers/farmers increases to 72.25%

Percentage of milk producers/farmers with bank accounts increase from 49.27% to 63.42% after demonetization Cashless transaction to milk producers/farmers increases from 23.82% to 72.25% after demonetization Consequent upon the Central Governments decisions of demonetization, certain unintended impacts have been observed especially in the...

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Posted Under: Custom Duty |

RBI releases revised draft directions on Commercial Papers (CPs)

Chief General Manager Press Release: 2016-2017/2072 06/02/2017

Commercial Papers (CPs) were introduced to enable corporate borrowers to diversify their sources of short-term borrowings as also to provide an additional instrument to investors. ...

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