22nd GST council meeting held in New Delhi
- For the exportation of the businesses that has been comes at the base of the GST Council on Friday announced the point of the result that has reduce their compliance burdens, including the eventual setting up of an e-wallet for input tax credits for exporters, and one of the content that has for businesses to file returns and pay taxes only once a quarter.
- “In light of this, we have taken three decisions… By October 10, the refunds for July will be processed and paid, and by October 18, the same for refunds for August. The Council has also decided that each exporter will get an e-wallet in which a nominal sum will be deposited for tax credit purposes, which will be offset against the credit refund when it happens.”
- “The changes and initiatives announced by the Government following the GST Council meeting will address the problems of the exporters, particularly those in micro and small segments,” Federation of Indian Export Organisations (FIEO) President Ganesh Kumar Gupta said in a statement. “The refund of GST for July by October 10 and August by October 18 will address the liquidity concerns of the exporters.”
- “Various relief granted by the GST Council today will be a major breakthrough in simplifying GST and encouraging fast adoption & access of GST among the trading community of the country and will clear the air of uncertainty and chaos,” the Confederation of All India Traders (CAIT) said in a note. “In the wake of current situation where traders are a depressed lot, such relief were much awaited and will change the code and colour of GST on a positive note.”
- “The collection pattern observed so far shows that a substantial portion of the tax is coming from the big players,” Mr Jaitley said. “However, while the small players have a low tax burden, they have a high compliance burden. So, we have taken a few decisions to reduce this burden on them.”
- “The increase in threshold under composition scheme to ₹1 crore would bring in many more small businesses within its ambit,” Pratik Jain, Leader, Indirect Tax at PwC India said. “However, to make this scheme really effective, it needs to be liberalized more by including all service providers and allowing them to undertake inter-State supplies.”
- “The benefits to the exporters in the form of e-wallet, interim benefits by manual filing and payment of 0.1% are very welcome,” Abhishek A Rastogi, Partner, Khaitan & Co said. “It needs to be seen that how the other issues which have reached different courts in the country are addressed in the days to come. Certainly, the need of the hour is to provide impetus to the business growth and it appears that the government is openly looking into the concerns of the businesses.”
Three agreements signed during 14th India-EU Summit in New Delhi
|S. No.||Name of Agreement||Indian Signatory||EU Signatory|
|1.||Implementing Arrangement between the European Commission and the Science and Engineering Research Board (SERB) for Indian Researchers hosted by the European Research Council grantees in Europe||Dr R. Sharma (SERB Secretary)||Mr. Tomasz Kozlowski (EU Ambassador)|
|2.||Finance Contract of Bangalore Metro Rail Project Phase-2-Line R6 for Euro 300 million out of total loan of Euro 500 million||Mr. Subhash Chandra Garg (Secretary, DEA)||Mr. Andrew McDowell (Vice President, EIB)|
|3.||Joint Declaration between the Interim Secretariat of the International Solar Alliance and the European Investment Bank||Mr UpendraTripathy (Secretary General, ISA Secretariat)||Mr. Andrew McDowell (Vice President, EIB)|
Centre sets up group under Rina Mitra to study problems of people along IB, LOC in J&K
- “There has been the study has been done by the group that is by the government to examine the problems being faced by the people residing near the International Border and and the Line of Control in Jammu and Kashmir in the wake of regular ceasefire violations by Pakistan,” an official said.
- This group that has started the study that will meet the border areas of Jammu and Kashmir, security forces deployed there, district administration officials and local public representatives and submit its report within two months.
- “The competent authority has approved the constitution of a study group for considering various problems being faced by the people residing near IB and LOC in the wake of regular threats of cross border firing,” an order issued by the home ministry said.
- At the home ministry, Rina Mitra who is the special secretary will head the team. The principal secretary (home) in the Jammu and Kashmir government, the divisional commissioner of Jammu and the divisional commissioner of Srinagar are members while the joint secretary (J&K) in the home ministry is the member- secretary of the group.
- “The study group will prepare a detailed report of the issues being faced by the public living near IB and LOC and submit its recommendations on the remedial action that needs to be taken to address these issues,” the order issued yesterday said.
9th Annual ‘World Dental Show 2017’ opens in Mumbai
- The 3-day international exhibition -that is the ‘World Dental Show 2017’ has been started at Mumbai on Saturday for the displaying the evolving global technologies and techniques in dentistry.
- The exhibition was hosted by the Indian Dental Association (IDA) has witnessed participation from the international exhibitors from China, Germany, Israel, Malaysia, Russian Federation, South Korea, Taiwan, Turkey, UK and US, numbering about 120 are displaying their latest dental wares in 250 well-furnished stalls.
- “I congratulate the IDA for its plans to launch its new research and educational center at its head office in Mumbai. I suggest that the ‘Make in India’ initiative we should not depend only on foreign imports on dental material and equipment but indigenously produce the same on our own here in the country. I assure that I would extend all possible help from Maharashtra Government to support IDA in whatever help needed in development of dental research and trade,” Maharashtra industry minister Subhash Desai said after inauguration.
Aadhaar made mandatory for small saving schemes as post office deposits, PPF, KVP
- In the banks after the deposited the cash there will be the 12-digit Aadhaar has been made mandatory for all post office deposits, PPF, the National Savings Certificate scheme and Kisan Vikas Patra. This type of the event has been started by the government is in continuation with its push for Aadhaar.The deadline to provide the 12-digit unique identification number Aadhaar is December 31, 2017. Announcement regarding Aadhaar quoting was made by Ministry of Finance in four separate Gazette notifications.
- “Provided that where Aadhaar number has not been assigned, the depositor shall submit proof of application of enrolment for Aadhaar shall submit his Aadhaar number to the post office savings bank or deposit office concerned, on or before December 31, 2017,” the notification dated September 29 said.
- “As a result of the review of welfare schemes covered and to provide the benefits of such schemes to all eligible beneficiaries of the scheme, it has been decided to further extend the stipulated date in all such notifications up to December 31, 2017,” an order dated September 26 said.
- “It is hereby clarified that this extension shall only apply to those beneficiaries who are not assigned Aadhaar number or those who have not yet enrolled for Aadhaar. Such beneficiaries are required to enrol for Aadhaar by December 31, 2017and provide their Aadhaar number or enrolment ID,” it had said.
Chhattisgarh bans Polyvinyl Chloride (PVC) used in carry bags
- The Chhattisgarh government has put the banned on the chlorinated plastic and short-life Polyvinyl Chloride (PVC) in the state.
- In the recent this treat has been taken by the Chhattisgarh government comes as a relief for the environment. It may not solve the problem but it is bound to do its bit as the chemical used to make PVC is a known human carcinogen, according to the World Health Organization’s International Agency for Research on Cancer (IARC).
- “From the Article 48-A of the Constitution of India, it is expected that every state will try to conserve and improve the environment. But these plastic-borne goods cause blockages in drains and gutters, leading to serious environmental problems,” the notification read.0
- The released dioxin causes a wide range of health effects including cancer, birth defects, diabetes, learning and developmental delays, endometriosis, and immune system abnormalities.
- Chhattisgarh is a heavily forested state in central India known for its temples and waterfalls
- Near the capital Raipur, the town of Sirpur on the Mahanadi River is home to the red-brick Lakshmana (Laxman) Temple, decorated with carvings from Indian mythology
- In the south, the city of Jagdalpur hosts the Sanjay Market on Sundays, a bartering place for local tribes
- The huge Chitrakoot Falls lie to the northwest.
- HDI: 0.537(Medium)
- HDI rank: 23rd (2005)
- Districts: 27
BANKING AND FINANCE
Government launched Sovereign Gold Bond Scheme (2017 -18) – Series-III
- The seventh tranche of the Sovereign Gold Bond (SGB) scheme that has come in the force on Monday and will close on March 3.
- “Online bidding platform for Sovereign Gold Bond Scheme 2016 -17 – Series 4 (Tranche 7) is open for subscription from Monday, February 27 to Friday, March 03, 2017 for trading members to subscribe to the issue for their clients,” a Bombay Stock Exchange (BSE) statement said.
- “Six tranches of the bonds have been issued so far. In the light of reasonable success of the issuances, Government of India has now decided to issue the seventh tranche of the Sovereign Gold Bond,” it added.
- Payments for the bonds is by cash (up to a maximum of Rs 20,000) or demand draft or cheque or electronic banking. The bonds’ tenure will be eight years with an exit option from the fifth year to be exercised on the interest payment dates.
- Minimum permissible investment will be in one gram of gold. The maximum amount subscribed by an entity will not be more than 500 gm per person per fiscal.
Pakistan junks US accusation of using CPEC to dictate terms in Balochistan
- In the term of the partnership with the among of the tune that is the, Pakistan has dismissed the United States’ concern over the China-Pakistan Economic Corridor (CPEC) and said that the project was for the betterment of the people in the region and beyond.
- “The CPEC is a development and connectivity project for the betterment of the people in the region and beyond”, the Dawn quoted Foreign Office, as saying, in a statement.
- “The international community should focus on human rights violations and heinous crimes committed by Indian occupation forces in Indian occupied Kashmir,” the statement further read.
- The remarks by the foreign office have come after the US Defence Secretary James Mattis told the Senate Armed Services Committee, during a hearing that “the One Belt, One Road also goes through the disputed territory, and I think that it itself shows the vulnerability of trying to establish that sort of a dictate.”
- “We have repeatedly said that the CPEC is an economic cooperation initiative that is not directed against third parties and has nothing to do with territorial sovereignty disputes and does not affect China’s principled stance on the Kashmir issue,” the Chinese Foreign Ministry said, in a statement.
- The U.S. is a country of 50 states covering a vast swath of North America, with Alaska in the northwest and Hawaii extending the nation’s presence into the Pacific Ocean
- Major Atlantic Coast cities are New York, a global finance and culture center, and capital Washington, DC.
- Midwestern metropolis Chicago is known for influential architecture and on the west coast, Los Angeles’ Hollywood is famed for filmmaking
- Capital: Washington, D.C.
- Dialing code: +1
- President: Donald Trump
Science and Technology
India’s First Portal Dedicated to Para-sports Launched
- In the term of the spread the awaireness for the para-sports and available the platform to para sportspersons to narrate their stories of triumph and adversity,thenationspride.com, the country’s first portal dedicated to para-sports was launched here today.
- At the launch, Saachi said “With this initiative, I hope for para-sports to get better represented in the sports fabric of our society. The inspiring stories of para-sportspersons on our portal will go a long way in not only celebrating their achievements, and drawing inspiration from them, but also in sensitizing society to their needs and removing taboos and misconceptions about disability. As a non-profit, I am relying on a voluntary contribution by way of original content to make this portal sustainable and up with the times. I am hoping to motivate others to join this movement with me, and I am deeply thankful to those para-sportspersons, volunteers, sponsors and well-wishers who have agreed to spare their time and effort in this important initiative.”
American Morgan Hurd won all-around title at world gymnastics championships
- American Morgan Hurd has won the prestigious of the world wide of the world gymnastics championships Friday night, spoiling Ellie Black’s bid to become the first Canadian winner.
- The 16-year-old Hurd edged Black by 0.101 points, finishing with 55.232 points in her world championships debut. Russia’s Eremina Elena was third at 54.799.
- “It’s crazy that I was even competing here,” said Hurd, from Middletown, Del. “To think that I won is just the most surreal feeling in the world.”
- “I’m standing here with the silver medal, so I’m pretty happy with that,” said Black, from Halifax, Nova Scotia. “There’s ups and downs in gymnastics, there are mistakes that are made. It’s part of the sport. There’s probably a bunch of athletes who would love to be in my position right now. I just feel so fortunate to have had this opportunity and to be here tonight.”
AWARDS & RECOGNITION
Rajesh Nath awarded Germany’s highest civilian honour “Cross of the Order of Merit”
- Rajesh Nath, Managing Director of VDMA India, that has been comes the ‘Cross of the Order of Merit’, the highest civilian honour awarded to individuals for their services to Germany.
- The award, also known Bundesverdienstkreuz or Federal Cross of Merit was instituted in 1951 and is Germany’s only honour that is awarded to both Germans and foreigners for achievements in the economic, social, political or intellectual realms.
- The Cross of Merit, along with the certificate signed by the President of Germany, was handed over by the Consul-General of Germany in Kolkata, Dr Michael Feiner, today.
Air Force Day- 9th October
- The Indian Air Force is the force that is of the air Indian armed forces. In this there is the complicated in the aircraft assets ranks fourth amongst the air forces of the world.
- The main aim of this celebration is the Indian airspace and to conduct aerial warfare during armed conflict.
- The Indian air force has been established on 8 October 1932 as an auxiliary air force of the British Empire, which honored India’s aviation at the time of the World War II with the prefix Royal.
- After the independence from the United Kingdom in 1947, the name that is the Royal Indian Air Force was kept and has started to serve and Dominion of India. In the term of the Republic in 1950, the word Royal has been removed from the Air Force.