News Update

Punchhi Commission: Inter-State Council finalises 118 recommendations (See 'TOG News' in Taxongo.com)Delhi DRI nabs Chinese female pax with USD 3 lakhs worth Rs 1.95 Cr just before boarding flight for Hong Kong; Money suspected to be sale proceeds of smuggled goldBombay Municipal Corporation renames Wadala Customs Enclave after legendary Customs officer Daya ShankarI-T - Substantial improvement brought in existing business, by incurring renovation expenditure of more than 50% of existing book value of machinery, is enough for claiming benefit u/s 80IA: Kerela HC15 backward districts identified; Prabhari officers of Addl Secretary-rank nominatedNational Law Day to be celebrated todayHM to chair Standing Committee of Inter-State Council meeting todayGovt notifies fixed prices exclusive of GST for six drugs including Japanese Encephalitis vaccine + Surfactant + Measles vaccineGovt notifies recruitment rules for post of Principal Private Secretary in EPFOI-T - Advance deposit of Central Excise Duty through PLA constitutes ACTUAL payment of duty within meaning of Sec 43B: Supreme CourtGovt appoints MCA Secretary Injeti Srinivas as part time Member of SEBI (See 'http://tiolcorplaws.com')Gold Bond - Rs 50 discount per gram to continue at next subscription period between Nov 27 to 29Over 175 killed as terrorists open fire at Friday's prayer meeting at a mosque in EgyptIGST is to be levied on transfer of goods kept in Customs warehouse, clarifies CBEC4 killed & 11 injured in Vasco Da Gama-Patna derailment in UP1992 batch IPS officer Rupin Sharma appointed as DGP of NagalandWinter Session to discuss amendments in IBC, Indian Forest & GST Compensation BillsEPFO Board approves report on investment in equity & IT-enabled initiatiavesPMAY - About 31 lakh houses sanctioned So Far: PuriPMLA - Section 45 - Grant of bail depending upon a circumstance, which have nothing to do with offence of money laundering, violate both Articles 14 and 21 of Constitution: SCHC terms PIL seeking stay on release of 'Padmavati' as misconceivedI-T - Department should not deny waiver of interest claimed u/s 220(2A), merely because they have discharged statutory obligation of interest u/s 244(1A): HCAll smart phones to have GPS and panic button from Jan 1, 2018Tax-to-GDP ratio up for many OECD Members; Revenue from goods & services falls but personal income tax goes upTreading GST Path - XXXVIII - Inventory Write offCus - SCN was to finalise assessment only without any proposal to levy anti-dumping duty, therefore, order imposing ADD is without any basis: CESTAT
 
Ministerial Meet - India urges Canada to look into architecture of services under CEPA

By TIOL News Service

NEW DELHI, NOV 13, 2017: The 4th India-Canada Ministerial Dialogue on Trade and Investment was held in New Delhi today. Both sides noted the progress made during the 10th Round of the India-Canada Comprehensive Economic Partnership Agreement (CEPA) held in August, 2017 and expressed their strong commitment for taking forward negotiations for early conclusion. India also highlighted the importance of Services Component under CEPA. Both sides also noted the exchange of wish lists on the Services front and the Indian side reiterated that the architecture for Services under CEPA is a vital focus area and response from Canada on positive elements has to be mutually beneficial. The Canadian side assured that they would look into the issues concerned, including movement of natural persons and what kind of provisions could be built into the CEPA. The Ministers directed the Chief Negotiators to discuss and explore ways for early conclusion of the Agreement. Both sides also took note of the progress made under the Foreign Investment Promotion and Protection Agreement (FIPA) and expressed their hope for an early conclusion.

Also, both sides deliberated on possible cooperation between the supporting agencies concerned, for mutual benefit as well as finding these agencies contributing directly or indirectly for promoting mutual trade interests. It was agreed to explore collaboration in the area of export credit insurance through India's Export Credit Guarantee Corporation Ltd. (ECGC Ltd.) and Canada's Export Development Canada (EDC). Both ECGC Ltd. and EDC are members of the Berne Union (BU), an international association representing the global export credit and investment insurance industry. Canada also proposed for possible cooperation with their Canadian Commercial Corporation (CCC).

The other issues such as early institutionalization of the CEO Forum mechanism, issue of extension of derogation of pulses, etc. were also discussed. On the issue of pulses, the Commerce and Industry Minister suggested that given Canada's advantage in Geo-Spatial Planning and the work done in Geographical Information System, both should be utilised to analyse the crop production systems in India, forecast the trend for next 10 years and accordingly work towards a predictable environment for potential pulses which could be supplied from Canada. Commerce and Industry Minister also invited the Canadian side for participation in the Partnership Summit scheduled to be held in February, 2017 at Vishakhapatnam in Andhra Pradesh and also invited Canada to be a partner country.


POST YOUR COMMENTS