News Update

Sale of building constructed on leasehold land - GST implicationI-T - If assessee is not charging VAT paid on purchase of goods & services to its P&L account i.e., not claiming it as expenditure, there is no requirement to treat refund of such VAT as income: ITATBengal Governor restricts entry of State FM and local police into Raj BhawanI-T - Interest received u/s 28 of Land Acquisition Act 1894 awarded by Court is capital receipt being integral part of enhanced compensation and is exempt u/s 10(37): ITATCops flatten camps of protesting students at Columbia UnivI-T - No additions are permitted on account of bogus purchases, if evidence submitted on purchase going into export and further details provided of sellers remaining uncontroverted: ITATTurkey stops all trades with Israel over GazaI-T- Provisions of Section 56(2)(vii)(a) cannot be invoked, where a necessary condition of the money received without consideration by assessee, has not been fulfilled: ITATGirl students advised by Pak college to keep away from political eventsI-T- As per settled position in law, cooperative housing society can claim deduction u/s 80P, if interest is earned on deposit of own funds in nationalised banks: ITATApple reports lower revenue despite good start of the yearI-T- Since difference in valuation is minor, considering specific exclusion provision benefit is granted to assessee : ITATHome-grown tech of thermal camera transferred to IndustryI-T - Presumption u/s 292C would apply only to person proceeded u/s 153A and not for assessee u/s 153C: ITATECI asks parties to cease registering voters for beneficiary-oriented schemes under guise of surveysST - Since Department itself admits that service carried out by appellant is that of 'Mining Services' w.e.f. 01.06.2007, thus demand for earlier period has been made only to fasten excess Service Tax demand on appellant which cannot sustain: CESTATICG rescues fisherman with head injury onboard IFB St. Francis off the Gujarat coastCX - When physical stock verification carried out by Officers was not fool proof and there were anomalies, benefit of doubt should be extended to assessee, duty demand confirmed on alleged clandestine removal is not sustainable: CESTAT
 
Implementation of Food Security Act: Centre asks States to set up more food procurement centres

By TIOL News Service

NEW DELHI, JAN 18, 2014: THE Union Government has urged State Governments to open more purchasing centers and assess all necessary infrastructure requirements for increased procurement of foodgrains for implementation of Food Security Act. It should include storage space, credit and staff requirement. A meeting of Food Secretaries of various States has been convened in the second week of February by the Government of India to review the arrangements for procurement of wheat for coming marketing season and other infrastructure requirements. In order to implement the National Food Security Act, requirement of foodgrains is estimated to be 614.3 lakh tons against the average procurement of 514 Lakh tons in last five years.

Under the National Food Security Act, the Government of India will now provide assistance to States in meeting the expenditure incurred by them on transportation of foodgrains within the State, its handling and FPS dealers’ margin as per norms to be devised for this purpose.

In the meeting, estimated marketable surplus ratio of wheat for each State and estimated procurement of wheat for Rabi Marketing Season will also be discussed.

Under the Act, Grievance Redressal Mechanism at the District and State levels have to be set up and provisions have to be made for disclosure of records relating to PDS. The Act also provides for social audits and setting up of Vigilance Committees in order to ensure transparency and accountability. Provision for penalty on public servant or authority, to be imposed by the State Food Commission, in case of failure to comply with the relief recommended by the District Grievance Redressal Officer, has also been made in the Act.

One of the most significant features is the provision for Food Security Allowance to entitled beneficiary in case of non-supply of entitled foodgrains or meals. No doubt, the Act will provide food security to two-third population of the country and with its focus on nutritional support to children and pregnant women it will address the problem of malnutrition also effectively.

 


POST YOUR COMMENTS
   

TIOL Tube Latest

Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.


Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.