At No Point Do We Want to Make It Difficult for Industry
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Daily English Newspaper www.samayparibartan.com West Bengal govt committed ‘Playing Jojo’s character BCCI questions Manohar’s to tribal development: Mamata emotionally exhausting’ position in tax battle with ICC PG 3 PG 10 PG 12 12 Pages, Vol-2, issue 8 KOLKATA 10 AUGUST 2019, SATURDAY Rs. 4/- IN BRIEF Mamata calls on Coal India to invest Governor Dhankar West Bengal Chief Minister Mamata Banerjee called on in conveyor belts Governor Jagdeep Dhankar at [ Raj Bhavan sources said. The meeting lasted for little over an hour, they said. “It was a courtesy call,” Banerjee told reporters after [ chief minister and the governor. Dhankar’s wife also joined the two for some time. A former Lok Sabha MP from Jhunjhunu in Rajasthan and a noted Supreme Court advocate, Dhankar took oath as the 28th governor of West Bengal on July 30. IIP slips to 2 pc in June New Delhi, Aug 9: Industrial production growth dropped to 2 per cent in June, mainly on account of poor show by mining At no point do we want to make it and manufacturing sectors, [ on Friday. Factory output, SP Bureau cleaner way without using trucks. This will as measured by the Index of Industrial Production (IIP), had drastically reduce the number of trucks and difficult for industry: Sitharaman Coal India (CIL) and its large pithead reduce diesel consumption and emissions. expanded by 7 per cent in June 2018. There was a slowdown in SP Bureau second thought” on this matter. The present that she will be travelling consumers are planning a 10,000 crore CIL is in talks with Hindalco, Vedanta, the manufacturing sector, which government would consider a uniform around the country, including to Tier 2 investment in conveyor belts to transport Balco and Jindal Group, among others, for grew at 1.2 per cent in June as coal directly from mines in a cheaper and setting up such infrastructure at coal mines. compared to 6.9 per cent a year New Delhi, Aug 9: “At no point 25 per cent tax rate for all categories of [ ago. The expansion in power and on no score, do we want to corporates after there was comfort that the tax harassment issues faced by generation sector stood at 8.2 per [ P tax revenues were on the upward trend. corporates. cent, compared to 8.5 per cent Minister of Finance and Corporate Sitharaman also touched upon two In addition, a technology-driven earlier. Mining growth dropped to Affairs Nirmala Sitharaman at the other elements relating to taxation: platform will be set up wherein cases CEC rules out return to ballots; 1.6 per cent in June from 6.5 per CII National Council Session here [ of harassment can be uploaded, either cent in the corresponding month on Friday. Taxation, infrastructure, O [ with and without disclosing identity. [ RBI-government relations, delayed of taxes,” said Sitharaman adding that Sitharaman stated her intent to address cites SC verdicts in support payments and corporate social the report of the committee on Direct the issues relating to harassment and SP Bureau Chandrababu Naidu, Farooq Auto industry responsibility (CSR) was amongst the Taxes Code is expected to be released ensure powers are not misused. Abdullah of the National key themes she addressed. on August 15. The government The Minister mentioned the Chief Election Conference and Maharashtra seeking prompt “It is our intent to reduce tax will immediately take this up for possibility of reviewing some of the Commissioner (CEC) Navnirman Sena (MNS) on corporates,” said Sitharaman, consideration. milestones in relation to infrastructure. Sunil Arora on Friday president Raj Thackeray, GST cut: SIAM emphasising that there was “no She also informed the CII members Contd. to P-2 categorically dismissed the have repeatedly claimed that demand for doing away with Electronic Voting Machines SP Bureau Petroleum Secy EVMs and bringing back could be tampered with and New Delhi, Aug 9: The ballot papers, citing orders demanded a return to ballot IL&FS scam: NLCT allows Kutty given addl passed by the Supreme papers. auto industry is unanimous on its demand for an charge of Secy, Court in the past. He also “We are not going back to immediate GST reduction said assembly elections in the era of ballot papers. The on automobiles to 18 per Jammu and Kashmir will Supreme Court has more govt to ban Deloitte, BSR Steel Ministry be held only after receiving than once said that ballot cent, SIAM said on Friday. SP Bureau Society of Indian SP Bureau 140(5) of the Companies Act pertains to a formal communication West Bengal Chief papers are our past,” Arora Automobile Manufacturers auditors who are still auditing the company New Delhi, Aug 9: from the union ministries of Minister Mamata Banerjee told reporters at the Kolkata (SIAM) said the need for ! In a major setback in question while they have already resigned Petroleum Secretary M home, and law and justice to and a host of other opposition airport. an immediate reduction in to the auditors, the National Company from the service and thus cannot be banned M Kutty has been given that effect. leaders, including TDP’s N Contd. to P-2 goods and services (GST) Law Tribunal Friday rejected Deloitte’s under the given provisions. additional charge of rates has been agreed and BSR’s applications challenging the It can be noted that while Deloitte had Secretary, Steel Ministry unanimously amongst tribunal’s jurisdiction to ban them from stopped auditing IL&FS Group, which owes ;[ all members of the $ over Rs 95,000 crore to lenders and other order said on Friday. automobile manufacturers, and commissions in the ILFS Group scam. [ ?&@ Kutty, a 1985-batch IAS including the two-wheeler This is the second setback for these BSR was the statutory auditor of IL&FS Y original equipment [ Financial Services (IFIN) and resigned Territory cadre, is manufacturers (OEMs). had allowed the corporate affairs ministry only in June this year-nine months after the presently serving as the to prosecute them along with 21 others in company was sent to the bankruptcy court. Secretary of Ministry of the same case, though the implementation of The BSR counsel Darius Khambata Petroleum and Natural the same has been stayed after they sought and Deloitte’s counsel Janak Dwarakadas Gas. He will be holding time to challenge the order at the appellate had also argued that before banning them, the additional charge tribunal NCLAT. [ from August 10 to 19, The ministry had in June moved NLCT matter which establishes that fraud was the period when Steel $ indeed committed by the auditors. Secretary Binoy Kumar auditors in the IL&FS saga. The ministry move to ban them came in will be on leave, according However, the tribunal said it will hear the ;%$Q to the order. R $ (SFIO) in its investigation found them guilty “The Competent ban on these auditors afresh on September of painting a rosy picture of IFIN despite Authority has approved 5. [ assignment of additional The auditors – the local arm of the the company. charge of the post of “This was also reiterated England-based Deloitte Haskins & Sells, The counsels of the auditors had said Secretary, Ministry of at a recent meeting with which is one of the big four accounting merely based on an investigation by SFIO is Steel to Dr. M M Kutty... [ [ /;< = > [ Secretary, Ministry of all OEMs representing [ The SFIO, in its report alleged that these Petroleum & Natural passenger vehicles, US-based KPMG – had challenged the auditors were aware that IFIN was lending Gas from 10.08.2019 to commercial vehicles and jurisdiction of the NCLT to ban them under to defaulting companies through group 19.08.2019 during the two wheelers had actively Sec 140(5) of Company’s Act. companies so that they could suppress their period of absence on leave participated,” SIAM They had challenged the jurisdiction NPAs and not provide for the bad debt. of Binoy Kumar...,” the President Rajan Wadhera of the NCLT to ban them, saying section Contd. to P-2 [ said in a statement. SIAM said Hero MotoCorp Chairman We’ve kept a target of connecting with Pawan Munjal had also emphasised on this point on immediate GST 1 crore Indians by 2020: Vivek Bajaj reduction at the meeting [ Sarnavo Das Kredent Infoedge Pvt Ltd has Nirmala Sitharaman earlier [ this week. Kredent InfoEdge Pvt Ltd the [R The auto industry body’s [ [ report of differences among ! [ leaders of the industry on !R major problem in society and the time for a GST cut. [ Kredent InfoEdge was the earlier Bajaj Auto Managing #$% ones to realize this. Since 2008, the Director Rajiv Bajaj has organization has been focused on been reported to have &'''' training retail investors on various preferred reduction in GST $ ( [" on automobiles closer to ) \$ BS-VI implementation next )$* has trained over 10,000 participants year in April, as it would [ till date. Elearnmarkets.com the soften prices for vehicles ) [ $ which would otherwise + launched in 2014 for the purpose become costlier due to the ,/$ 1 $ *11 [ new emission norm. / R 3 , over the country. As on date there are At present, automobiles [ 4 over 150,000 learners from over 200 attract GST of 28 per cent [ %$&''[ with additional cess of $ ! ! [ ranging from 1 per cent to )R NSE Academy, MCX, NCDEX etc. 22 per cent. 0Vivek Bajaj $56 Contd. to P-2 CMYK CMYK CMYK 2 MISCELLANEOUS KOLKATA 10 AUGUST 2019 SATURDAY Rourkela CGST organises Yechury, D Raja Governor Malik takes round of Aircel-Maxis deal CEC rules out return... not allowed to Delhi court extends Contd. from page -1 plantation for 150th Birth Srinagar city, visits hospitals, Banerjee has often said that EVMs were earlier used in enter Kashmir, protection from arrest developed countries like the US, UK, France and Germany but they all reverted to ballot papers.