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Tuesday, January 29, 2019

CBIC – GST the Central Goods and Services Tax (Second Removal of Difficulties) Order, 2018

CBIC – GST

The Central Board of Indirect Taxes & Customs has issued an Order which may be called as the Central Goods and Services Tax (Second Removal of Difficulties) Order, 2018The Order is being issued to specify that the rectification of error or omission in respect of the details furnished under sub-section (1) shall be allowed after furnishing of the return under section 39 for the month of September, 2018 till the due date for furnishing the details under sub section (1) for the month of March, 2019 or for the quarter January, 2019 extended to March, 2019 for availing ITC of FY 2017-18.

GTL INFRASTRUCTURE LIMITED ALLOTS 1,65,58,232 EQUITY SHARES

On conversion of Bonds
Infrastructure has on 28 January 2019 considered allotment of 1,65,58,232 equity shares consequent to conversion for 2542 Zero Coupon Compulsorily Convertible Bonds (Series B1 Bonds) aggregating to US$ 2.542Mn. at a conversion price of Rs. 10 per share. Post this conversion, outstanding Series B1 Bonds are US$ 51.348 Mn. as on 28 January 2019

Monday, January 28, 2019

WHY ARE YOU SO UPSET MR.JAITLEY OVER CBI DOING ITS JOB IN RIGHT DIRECTION.DO NOT TRY TO SAVE LOOTERS OF OUR TAX MONEY BE IT CHANDA KOCHHAR OR WHO SO EVER.YOU MIND YOUR BUSINESS AS FM.

Arun Jaitley Lashes Out at 'CBI Adventurism' Over Chanda Kochhar Probe, Reminds It of 'Bull's Eye'

Image result for pic of fm arun jaitley

The CBI on Thursday booked the Dhoots of the Videocon group along with Chanda Kochhar, the former CEO and MD of ICICI Bank and her husband Deepak, for alleged irregularities in sanctioning six loans worth Rs 1,875 crore to the now crippled Videocon Group and other group entities.

New Delhi: Finance Minister Arun Jaitley in his blog took on the Central Bureau of Investigation (CBI), a day after they raided Videocon on Thursday offices in Mumbai and termed it as “investigative adventurism.” 

Providing reasons for his connotation, he wrote, “Sitting thousands of kilometers away, when I read the list of potential targets in the ICICI case, the thought that crossed my mind was again the same – Instead of focusing primarily on the target, is a journey to nowhere (or everywhere) being undertaken? If we include the entire who’s who of the Banking Industry – with or without evidence – what cause are we serving or actually hurting.”

Jaitley is currently undergoing treatment in US. 

The CBI on Thursday booked the Dhoots of the Videocon group along with Chanda Kochhar, the former CEO and MD of ICICI Bank and her husband Deepak, for alleged irregularities in sanctioning six loans worth Rs 1,875 crore to the now crippled Videocon Group and other group entities.
Jaitley further explained in his blog, “Investigative adventurism involves casting the net too wide including people with no mens rea or even having a common intention to commit an offence, relying on presumptions and surmises with no legally admissible evidence.”

Breaking down the case, CBI detailed the modus operandi and charged the three of them with offences punishable under Section 120B (conspiracy) and 420 (cheating) of IPC, section 7 (taking gratification) and 13(2) (criminal misconduct) read with 13(1)(d) (pecuniary advantage) of the Prevention of Corruption Act.

The tale of the fiddle has Chanda Kochhar conniving with Dhoot at every twist and turn in the case to benefit her husband by abusing her official position, according to the FIR. It provides the architecture of funnelling of money to her husband and how the various loans became NPAs for ICICI Bank which she presided over.

Four companies have also been named in the FIR - Nu Power Renewables, Supreme Energy, Videocon International and Videocon Industries.

The senior BJP leader was definitive in his article when he wrote, “There is a fundamental difference between investigative adventurism and professional investigation,”

“Professional investigation,” he penned down, “targets the real accused on the basis of actual and admissible evidences. It rules out fanciful presumptions. There is no personal malice or corruption. It targets the guilty and protects the innocent. It secures convictions and furthers public interest.”

Jaitley also blamed raids such as this for the “poor” conviction rates

“My advice to our investigators – Follow the advice of Arjun in the Mahabharat – Just concentrate on the bulls eye,” wrote Jaitey.




India is World's second largest steel producer now replacing Japan

Image result for pic of Indian steel companies
India has replaced Japan as the world’s second-largest steel producer. The country’s crude steel output rose 4.9 per cent to 106.5 million tonnes in 2018, while Japan’s production fell 0.3 per cent to 104.3 million tonnes, according to data from the World Steel Association (WSA). The development will boost the steel ministry’s initiative to achieve 300 million tonnes of production capacity by 2030. The government is also making efforts to increase India’s per capita steel consumption through various policy initiatives and stepping up spending on housing and infrastructure. 

At 95, this Padma awardee is highest paid FMCG CEO

26MDH-2Image result for pic of mdh brand
Image result for pic of mdh brand


Remember the TV ads where “dadaji” blesses newly married couples, kisses young kids and shakes a leg even as the jingle “asli masala sach sach” plays in the background? That’s Dharam Pal Gulati, who at 95, is probably the world’s oldest ad star. And that’s not his only claim to fame. Gulati is the owner of the Rs 2,000-crore Mahashaya Di Hatti (MDH) group and has just been conferred the Padma Bhushan for trade and industry. 

The phone has not stopped ringing since last night’s announcement but Gulati popularly known as “Mahashaya ji” with his trademark red turban and white moustache is used to being recognized. And he loves it. “Main aur koi nasha nahi karta. Mujhe pyaar ka nasha hai (I have no addiction except an addiction to love). I love it when children and young people meet me and take pictures and selfies,” he says. Gulati, a class V dropout, is also reported to be the highest earning CEO in the FMCG sector, taking home a salary of above Rs 25 crore in 2018, say sources. Born on March 27, 1923 in Sialkot, now Pakistan, 


Gulati’s is quite the rags to riches story. After Partition, Gulati and his family came to India with barely Rs 1,500 to call their own. Initially, he started work as a tangewala (horse-cart puller) but soon his family gathered enough resources to open a spice shop in Karol Bagh’s Ajmal Khan Road. Business slowly thrived and Gulati now has over 18 factories in India and Dubai with MDH spices distributed across the world. The company sells 62 products and claims 80% market share in north India. Even though he turns 96 in less than two months, Gulati visits at least one factory whether in Delhi or adjoining Faridabad or Gurgaon every day. His six daughters and a son help him to run the masala empire he’s built. 
26MDH-5 (1)

Gulati says the secret to his long life is his spartan diet and and regular exercise. “Main bhudha nahi, jawan hoon (I am still young),’’ he says, flexing his muscles and opening his mouth to show his pearly whites. He is up at 4 am every morning to walk at Nehru Park, followed with yoga and a frugal breakfast. He also walks in the evening and at night after dinner, and keeps himself updated with news on his phone and checks WhatsApp regularly. 

He still loves the limelight of course. Nearly every inch of the wall at MDH House in west Delhi’s Kirti Nagar Industrial area is covered with his beaming face whether it is pictures incased in shiny gold frames, calendars, large cut-outs and even a clock that traces his life through pictures. Acting in his own TV commercial happened by accident when the actor slotted to play the bride’s father failed to turn up. “When the director suggested I act as the father I thought this would save some money, so I agreed,” Gulati recounts. There was no turning back. Gulati has been part of all MDH TV commercials since. Evidently, India can’t seem to get enough of Dadaji and his deghi mirch. 



A Reminder to All employers in India Covered under the Payment of Bonus Act :Annual Return Form D New Due Date 1st Feb As Online And Hard Copy Filing

Enclosed is the Notification on 10th Nov 2014 on Bonus Act annual Return From D from year 2014 onward, which is amended on following topic.



For your reference and necessary compliance action

Highlights of the amendments:

1. Annual Returns. – (1)Every employer shall on or before the 1st day of February in each year upload annual returns in the Form D on the web portal of the Ministry of Labour and Employment giving information as to the particulars specified in respect of the preceding year:—

2. Every employer on or before the 1st day of February in each year may file annual returns in the Form D to the Inspector giving information as to the particulars specified in respect of the preceding.

Explanation.—For the purposes of this sub-rule, the expression “electronic form” shall have the same meaning as assigned to it in clause (r) of section 2 of the Information Technology Act, 2000 (21 of 2000).

Form D and notification is also attached herewith for your reference.

MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION
New Delhi, the 10th November, 2014
G.S.R. 784(E).—In exercise of the powers conferred under section 38 of the Payment of Bonus Act, 1965 (21
of 1965), the Central Government, hereby makes the following rules further to amend the Payment of Bonus Rules, 1975,
namely:—
1. Short title and commencement.--- (1) These rules may be called the Payment of Bonus (Amendment) Rules,2014.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Payment of Bonus Rules, 1975 (hereinafter referred to as the principal rules), for rule 5, the following rule shall be substituted, namely:—
‘5. Annual Returns. – (1)Every employer shall on or before the 1st day of February in each year upload annual returns in the Form D on the web portal of the Ministry of Labour and Employment giving information as to the
particulars specified in respect of the preceding year:—
Provided that the annual returns shall be filed within the time limit specified in section 19 of the Act.
(2) Every employer on or before the 1st day of February in each year may file annual returns in the Form D to the Inspector giving information as to the particulars specified in respect of the preceding year:
Provided that during inspection, the inspector shall require the production of the accounts, books, register and other documents if the same are maintained in manual form or in electronic form, as the case may be.
Explanation.—For the purposes of this sub-rule, the expression “electronic form” shall have the same meaningas assigned to it in clause (r) of section 2 of the Information Technology Act, 2000 (21 of 2000).
3. In the principal rules, for Form D, the following Form shall be substituted, namely.—
“Form D
[See rule 5(1)]
Uni fied Annual Return Form
A. General Part:
(a) Name of the establishment
address of the establishment. House No./Flat No. Street/Plot No. _____
Town ______ District_ ______ State _____ Pin Code
(b) Name of the employer
address of the employer. House No./Flat No. Street/Plot No. _____
Town ______ District _______ State _____ Pin Code
E-mail ID ______ Telephone Number Mobile Number
(c) Name of the manager or person responsible for supervision and control of establishment
Address House No./Flat No. Street/Plot No. __________ Town ______
District _______ State _____ Pin Code
E-mail ID ______ Telephone Number Mobile Number
B. Employer’s Registration/ License number under the Acts mentioned in column (2) of the Table below:
S.No
(1)
Name
(2)
Registration
(3)
If yes
(Registration No.)
(4)
01. The Building and Other Construction Workers (Regulation of Employment
and Condition of Service) Act, 1996.
02. The Contract Labour (Regulation and Abolition) Act, 1970.
03. The Inter-State Migrant Workmen (Regulation of Employment and
Condition of Service) Act, 1979.
04. The Employees Provident Funds and Miscellaneous Provisions Act, 1952.
05. The Employees’ State Insurance Act, 1948.
06. The Mines Act, 1952.
Notice of opening under Regulation 3 of the Coal Mines Regulation, 1957
or Regulation 3 of the Metalliferous Mines Regulations, 1961.
07. The Factories Act, 1948.
08. The Motor Transport Workers Act, 1961.
09. The Shops & Establishments Act (State Act).
10. Any other Law for the time being in force
C. Details of Principal Employer, Contractor and Contract Labour:
01. Name of the principal employer in the case of a contractor’s establishment
02. Date of commencement of the establishment
03. Number of Contractors engaged in the establishment during the year.
04. Total number of days worked by Contract Labour during the year
05. Total number of man-days worked by Contract Labour during the year
6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
06. Name of the Manager Agent ( in case of mines)
07. Address House No./Flat No. Street/Plot No. _________ Town
District _______ State _____ Pin Code
E-mail ID ______ Telephone Number Mobile. No.
D. Working hours and week day:
01. Number of days worked during the year
02. Number of mandays worked during the year
03. Daily hours of work
04. Day of weekly holiday
E. Maximum number of persons employed in any day during the year:
Sl.
No.
Males Females Adolescents (between the
age of 14 to 18 years.)
Children
(below 14 years of age.)
Total
F. Wage rates (Category Wise):
G. (a) Details of Payments:
Gross wages paid Deductions Net wages paid
In cash In kind Fines Deductions for damage or
loss
Others In cash In kind
(b) Number of workers who were granted leave with wages during the year:
Sl. No. During the year Number of workers Granted leave with wages
Category
Rates of
Wages
No. of workers
Regular Contract
male female children Adolescent male female children Adolescent
Highly
Skilled
Skilled
Semiskilled
Unskilled
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H. Details of various welfare amenities provided under the statutory schemes:
I. Number of employees benefited by bonus payments:
DECLARATION
It is to certify that the above information is true and correct and also I certify that I have complied with the all
provisions of Labour Laws applicable to my establishment.
PLACE DATE SIGN. HERE .”
[F.No.Z-16016/1/2014-WB]
P. P. MITRA, Principal Labour and Employment Adviser
Note : The principal rules were published in the Gazette of India, Part II, Section 3, Sub-section (i), vide G.S.R.
No. 2367, dated the 6th September, 1975 and subsequently amended by S.O. No.251, dated the 7th January, 1984.
Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.
Sl. No. Nature of various welfare amenities provided Statutory (specify the statute)
(1) (2) (3) (4) (5) (6) (7)
Total
amount
payable as
bonus
Settlement, if
any, reached
Percentage of
bonus declared
Total amount
of bonus
actually paid
Date on
which
payment
made
Whether bonus
has been paid to
all the employees,
if not, reasons for
non-payment

Remarks