Following the recent earthquake in Japan and concerns of possible radiation leakage from the affected nuclear plants, there is a need to increase surveillance of food imports from Japan to ensure that they are safe for consumption. Accordingly, it has been decided that Food Safety and Standards Authority of India (FSSAI) would test samples of food articles, particularly fresh produce exported from Japan after March 11, 2011, such as sea food, fruits, vegetables and meat for radioactive contamination. FSSAI has directed their Authorised Officers to have the food articles tested for radioactive contamination from BRIT (Board of Radiation and Isotope Technology), Navi Mumbai before issuing ‘No Objection Certificate’ to Customs.
As announced today in the Mid-Quarter Monetary Policy Review, it has been decided to increase the repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 6.50 per cent to 6.75 per cent and the reverse repo rate by 25 basis points from 5.50 per cent to 5.75 per cent with immediate effect.
Foreign transactions in connection with the 2G scam have been traced to at least six countries, including Mauritius and Virgin Islands, and hawala route was also used, the Enforcement Directorate today told the Supreme Court.Presenting its status report before a bench of justices G S Singhvi and A K Ganguly in a sealed envelope, the agency also said that it had found that a person had paid Rs 100 crore for liaisoning.
The Council of the Institute in its meeting held on 25th Feb, 2011 has approved the release of Cost Accounting Standards 13. Cost Accounting Standards 13- Cost of Service Cost Centre
The Union Cabinet has approved Constitution Amendment Bill to pave the way for implementation of Goods and Services Tax, a new indirect tax regime that will subsume various levies such as excise and service tax.
Electricity Exchange services means any service provided or to be provided to any person, by an electricity exchange, by whatever name called, approved by the Central Electricity Regulatory Commission constituted under Section 76 of the Electricity Act, 2003 (36 of 2003), in relation to trading, processing, clearing or settlement of spot contracts, term ahead contracts, seasonal contracts, derivatives or any other electricity related contract.
Design services includes services provided in relation to designing of furniture, consumer products, industrial products, packages, logos, graphics, websites and corporate identity designing and production of three dimensional models.
Custom house agent’s services – means any service provided or to be provided [to any person], by a custom house agent in relation to the entry or departure of conveyances or the import or export of goods;
Credit rating agency’s services means any service provided or to be provided to any person, to a client, by a credit rating agency in relation to credit rating of any financial obligation, instrument or security;
“Credit Card, Debit Card, Charge Card or Other Payment Card Service” includes any service provided,— (i) by a banking company, financial institution including non-banking financial company or any other person (hereinafter referred to as the issuing bank), issuing such card to a card holder; (ii) by any person to an issuing bank in relation to such card business, including receipt and processing of application, transfer of embossing data to issuing bank’s personalisation agency, automated teller machine personal identification number generation, renewal or replacement of card, change of address, enhancement of credit limit, payment updation and statement generation; (iii) by any person, including an issuing bank and an acquiring bank, to any other person in relation to settlement of any amount transacted through such card.
