Young entrepreneurs suggest more Public Private Partnerships to Niti Aayog 

  India’s young entrepreneurs called for the greater involvement of the private sector and more public-private partnerships (PPP) as part of suggestions to prepare a new policy template for the country. More than 200 of them pitched for leveraging the strength of non-state entities to develop India’s soft power, improve education levels and help mitigate climate change. Under the Champions Of Change programme organised by Niti Aayog, 212 young entrepreneurs were grouped into six sectoral themes — Soft Power: Incredible India 2.0; Education and Skill Development; Health and Nutrition; Energizing a sustainable tomorrow; and Digital India; New India by 2022. They gave their suggestions to Prime Minister Narendra Modi at a presentation that ran over two hours and was also attended by ministers and secretaries of various departments. Niti Aayog CEO Amitabh Kant said

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Tomatoes: The new enemy in India’s fight against inflation 

  Surging onion prices have toppled governments in India. Now there’s a new threat looming for policy makers. Tomatoes. After touting better food management as a reason for record-low inflation during much of the summer, a surge in the costs of vegetables and fruits is causing price pressures to simmer. Tomatoes have been the main culprit so far, as poor transport and a lack of cold storage facilities lead to wastage of as much as 16 percent of produce each year. Such inefficiencies and India’s 1.3 billion population distinguishes it from the global market, where agricultural costs are falling. Food accounts for 46 percent of India’s consumption basket, which means it plays an outsize role in determining headline inflation. “The present low level of food prices is unusual and is

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LUT/bond will be processed / accepted within 3 working days: CBEC Chairman

  Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs North Block, New Delhi- 110001 Tel. : +91-11-23092849, Fax : +91-11-23092890 E-mail : chmn-cbec@nic.in Vanaja N. Sarna Chairman DO.No.22/CH(EC)/2017 Dated 11th August, 2017 Dear Colleagues, A number of issues were raised in the last few days on problems being faced by exporters, particularly for taking the facility of Letter of Undertaking (LUT). Notification No. 16/2017 – GST dated 7th July, 2017 was issued specifying conditions for LUT facility. Circular No. 2/2/2017 – GST dated 5th July, 2017 and Circular No. 4/4/2017 – GST dated 7th July, 2017 were issued clarifying the various issues and giving instructions for uniform implementation of the law. CBEC has today issued a third circular on this subject covering in a comprehensive manner all the issues related to

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Eligibility of divorced daughters for grant of family pension -clarification

No. 1/13/09-P&PW(E) Government of India Ministry of Personnel, P.G. & Pensions Department of Pension & Pensioners’ Welfare 3rd Floor, Lok Nayak Bhawan, Khan Market, New Delhi, 19th July, 2017. OFFICE  MEMORANDUM Sub: Eligibility of divorced daughters for grant of family pension -clarification regarding . Provision for grant of family pension to a widowed/divorced daughter beyond the age of 25 years has been made vide OM dated 30.08.2004. This provision has been included in clause (iii) of sub-rule 54 (6) of the CCS (Pension), Rules, 1972. 2. As indicated in Rule 54(8) of the CCS (Pension) Rules, 1972, the turn of unmarried children below 25 years of age comes after the death or remarriage of their mother/father, e., the pensioner and his/her spouse. Thereafter, the family pension is payable to the

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CBEC notifies FORM GST REG-13, Rules reversal of credit of Additional duty of Customs on Gold dore bar and Other Changes

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification No. 22/2017 — Central Tax New Delhi, the 17th August, 2017 G.S.R. ( )E.:- In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:‑ (1) These rules may be called the Central Goods and Services Tax (Fifth Amendment) Rules, 2017. (2) Save as otherwise provided, they shall come into force on the date of their publication in the Official Gazette. 2. In the Central Goods and Services Tax Rules, 2017, (i) in rule 3, in sub-rule

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Form GSTR-3B Due date extended with Conditions; No Change in due date of Payment

  Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification No. 23/2017 – Central Tax New Delhi, the 17th August, 2017 G.S.R. ( )E.:- In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as “the said Act”) read with sub-rule (5) of rule 61 of the Central Goods and Services Tax Rules, 2017(hereafter in this notification referred to as “the said Rules”) and notification No. 21/2017-Central Tax dated 08th August, 2017 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide G.S.R. number 997 (E), dated the 08th August, 2017, the Commissioner, on the recommendations of the Council, hereby specifies the conditions in column (4) of the Table below, for furnishing

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Government fixes ceiling prices of Knee Implants (Upto 69% Price Reduction)

  Government fixes ceiling prices of Knee Implants; People of India to save Rs.1500 crore per annum It is a step to prevent Unethical Profiteering and ensure Affordable and Quality Healthcare for the Last Man: Shri Ananthkumar Overcharging of Knee Implants would be strictly monitored and penalized “Walking the talk of Prime Minister, Shri Narendra Modi’s speech on Independence Day 2017, the Government has fixed the ceiling prices of orthopaedic implants used in knee surgeries from today”, informed Union Minister for Chemicals & Fertilizers and Parliamentary Affairs, Shri Ananthkumar, while addressing the media here today. Based on the numbers of about 1 to 1.5 lakh orthopaedic knee procedures done in India every year, there will be a saving of about Rs.1500 crore for the people of India per annum. It

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Return filing In Form GSTR-3B- Due Date & transitional credit

PRESS NOTE ON FILING OF RETURN IN FORM GSTR-3B FOR JULY, 2017 GST Council had earlier decided to defer the filing of return in FORM GSTR-3 and had recommended the filing of return in FORM GSTR-3B. Accordingly, the Central Government vide notification No. 21/2017-Central Tax dated 08.08.2017 had notified the last date for filing of return in FORM GSTR-3B for the month of July, 2017 as 20.08.2017. 2. Concerns have been raised by the trade about whether transitional credit would be available for discharging the tax liability for the month of July, 2017. In this regard, attention is invited to notification No. 23/2017-Central tax dated 17.08.2017wherein the date and conditions for filing the return in FORM GSTR-3B have been specified. Salient points for filing the said return are as follows: A. Registered persons

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Due date of GSTR 3B extended till 28 August

  Assessees who have to claim input credit can file GST 3B till 28th August, for others due date remains intact i.e. 20th August. On Clarification regarding availability of Transitional Credit for GST  As per the rules, the Goods and Services Tax (GST) for the month of July 2017 has to be paid by 20th August, 2017. Only after the payment of full GST, return in summary Form 3B can be filed. Concerns have been raised about the form for claiming transitional input tax credit not being available on the GSTN website. This form will be available on the GSTN website from 21st August, 2017. In view of this, a small window of opportunity is being given to all the taxpayers. For those taxpayers who do not want to claim

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Pawan Hans divestment plan to be finalised in a week: Government

  The ministry of civil aviation is in the last stages of preparing the modalities of disinvestment of state-run helicopter operator Pawan Hans and will send its proposal for evaluation “within a week”, a senior official said today. In October last year, the Cabinet Committee on Economic Affairs (CCEA) had given its in-principle approval for strategic disinvestment of profit-making Pawan Hans. The Centre holds 51 per cent stake in the chopper firm while another state-owned giant Oil and Natural Gas Corporation owns the remaining 49 per cent. “We will be sending our proposal to an Evaluation Committee, which will then forward it to the Department of Investment and Public Asset Management (DIPAM). “The Core Group of Secretaries on Disinvestment (CGD) at DIPAM will then look into our suggestions,” a senior

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