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Showing posts from May 24, 2018

Tower Cos Brought Under Regulatory Net

Tower Cos Brought Under Regulatory Net
Tower providers will be considered licensees under right-of-way rules The telecom department has clarified that tower providers will be considered as licensees under rightof-way rules, addressing a major demand of the industry that had been kept out of the purview of these rules so far. The industry welcomed the move, which it said would help infrastructure providers to set up the base for future technologies including 5G. The right-of-way rules allow online filing of applications in a bid to ease the pain that the sector faces in building infrastructure. They are expected to help companies get land from state governments and local bodies within a stipulated timeframe, with standard procedures set for telecom companies and government authorities to follow. The Department of Telecommunications had issued rules on setting up of telecom towers and laying of cables in November 2016, providing a framework for granting approvals and settling disputes in a …

Govt Proposes Rates for Treatment Under Health Protection Scheme

Govt Proposes Rates for Treatment Under Health Protection Scheme
Scheme likely to be rolled out by Aug, registration for hospitals expected to begin by June 15 The government has proposed rates for over 1,350 treatment packages ranging from Rs 1,000 to over Rs 1.50 lakh, for the Pradhan Mantri Rashtriya Swasthya Suraksha Mission.The government issued a 205-page model tender document on Wednesday, taking the Prime Minister’s ambitious health protection scheme a step closer to implementation. The rates proposed depend on the type of therapy and procedure. The document is expected to help states select insurance companies for the scheme, which promises up to Rs 5 lakh cover for 100 million poor families in the country.Over 20 specialties like cardiology, cancer care, neurosurgery and neo-natal care have been covered in the draft.For instance, the rate for an orthopaedic procedure like application of skin traction has been set at Rs 1,000, while aortic arch replacement under cardio thoracic …

PMO Advances Completion Dates for Rural Schemes

PMO Advances Completion Dates for Rural Schemes
The Prime Minister’s Office is aiming for completion of key rural schemes ahead of the next general election, bringing forward their deadlines in keeping with a campaign pitch of ‘Har ghareeb ko ghar, usmein toilet, bijli aur gas’ (House for every poor person, with toilet, electricity and cooking gas), senior government officials told ET. The latest such scheme is the Swachh Bharat (Grameen), aimed at turning rural India open defecation-free (ODF), which had a deadline of October 2, 2019 but may now be completed six months ahead of schedule. “We are trying to complete this mission by March 2019. We will either be there by that date or almost there,” said one of the officials, who spoke on condition of anonymity. So far, 84% ODF coverage has been achieved under the scheme. The Centre is also aiming to give out five crore cooking gas or LPG connections under the PM Ujjwala Yojana by December 2018 – this was the original scope of the scheme ti…

Cabinet approves ordinance to give homebuyers creditor status under IBC

Cabinet approves ordinance to give homebuyers creditor status under IBC
Special provisions planned for MSMEs, panel wants CoC to have power to withdraw application for insolvency resolution.The Union Cabinet approved, via an Ordinance, amendments to the Insolvency and Bankruptcy Code (IBC), giving homebuyers the status of creditors in the insolvency process. Also in the Ordinance, it appears (Law Minister Ravi Shankar Prasad would not give details) are provisions for micro, small and medium scale enterprises (MSMEs), easing some conditions for the segment.Assent of the President is required for the Ordinance to take effect. These changes were part of the recommendations of a committee to review and suggest changes in the IBC . Earlier, on the panel’s suggestion, the government got amended Section 29A clause of the IBC - it lists entities barred from bidding for companies under insolvency. The changes were to ensure wilful defaulters and those whose accounts had been classified as non-per…

Rupee nears its all-time low on global cues; Sensex drops 306 points

Rupee nears its all-time low on global cues; Sensex drops 306 points
The rupee dropped 0.6 per cent to a 17-month low of 68.42 against the dollar.The rupee and stocks tumbled along with other global markets on Wednesday after the US dollar strengthened, as events across Italy, Turkey and North Korea triggered risk-off bets. Investors pulled out money out of risky assets on fears of Italy exiting the eurozone. The sentiment was hurt as prospects of trade talks between the US and China and a summit with North Korea faded. Most emerging market currencies tumbled after a slide in the Turkish lira sparked fears of contagion. The dollar index, a gauge for the greenback’s performance against major global currencies, breached 94 for the first time in 2018. The euro and the British pound fell to their 2018 lows of 1.17 and 1.33, respectively, against the dollar. The rupee dropped 0.6 per cent to a 17-month low of 68.42 against the dollar. The rupee is inching towards its record low of 68.85, touc…

Two Held for Fraud Under GST Act in Delhi

Two Held for Fraud Under GST Act in Delhi Posted On: 24 MAY 2018 10:44AM by PIB Delhi Central Tax, GST Delhi East Commissionerate arrested a Shahdara based father son-duo on 22.05.2018 in case of fraudulent issuance of Input Tax Credit invoices involving evasion of approximately Rs. 28 Crores relating to Copper industry. It is the first case of arrest in Delhi, under the new tax regime that came into force on 1st July, 2017. Searches were conducted at several places during which various incriminating documents and evidence were found. Investigation that followed revealed involvement of the father and son. Both were arrested under Section 69 (1) of CGST Act and Hon’ble CMM, Patiala House remanded them to judicial custody for 14 days. As per Section 132 of the CGST Act, issuance of an invoice or bill without supply of goods and wrongful availment or utilization of input tax credit is a cognizable and non-bailable offence if the amount involved is over Rs 5 Crores. Further investigations are …