News Update

ST - Amendment made to FA, 1994 on 14.05.2015 making service tax applicable retrospectively on chit-fund business is only prospective - Refund payable of tax paid between 01.07.2012 to 13.05.2015: HCST - SVLDRS, 2019 - Amnesty Scheme, being of the nature of an exemption from the requirement to pay the actual tax due to the government, have to be considered strictly in favour of the revenue: HCCX - Issue involved is valuation of goods u/r 10A of CE Valuation Rules, 2000 - Appeal lies before Supreme Court: HCCus - Smuggling - A person carrying any article on his belonging would be presumed to be aware of the contents of the articles being carried by him: HCCus - Penalty that could be imposed for smuggling 3.2 kg of gold was Rs.88.40 lakhs, being the value of gold, but what is imposed is Rs.10 lakhs - Penalty not at all disproportionate: HCCus - Keeping in mind the balance of convenience and irreparable injury which may be caused to Revenue, importer to continue indemnity bond of 115 crore and possession of confiscated diamonds to remain with department: HCCus - OIA was passed in October 2022 remanding the matter to adjudicating authority but matter not yet disposed of - Six weeks' time granted to dispose proceedings: HCI-T - High Court need not intervene in matter involving factual issues; petitioner may utilise option of appeal: HCChina asks Blinken to select between cooperation or confrontationI-T - Unexplained cash credit - additions u/s 68 unsustainable where based on conjecture & surmise alone: ITATHonda to set up USD 11 bn EV plant in CanadaI-T - Re-assessment is invalid where based only on a suspicion that income escaped assessment & where not based on concrete reasons to believe for commencing such proceedings : ITATImran Khan banned from flaying State InstitutionsI-T - Income from sale of flats cannot be computed in assessee's hands, where legal possession of flats had not been handed over to buyers in that particular AY: ITATPro-Palestine demonstration spreads across US universities; 100 arrestedI-T - Investment activities in venture capital which are not covered in negative list under Schedule III to SEBI Regulations, qualifies for deduction u/s 10(23FB): ITATNATO asks China to stop backing Russia if keen to forge close ties with WestCus - When Department has not complied with time limit, the order issued for revocation of licence or order issued for continuation of suspension licence cannot sustain: CESTATNY top court quashes conviction of Harvey Weinstein in rape caseWeather prediction normal for phase 2 poll dayIndiGo orders 30 Airbus A350s for long haulsST - Appellant is an 'authorised medical practitioner' providing 'healthcare services' - services exempted in terms of clause 2(i) of notification 25/2012-ST: Commr(A)RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimesREC avails SACE-Covered Green Loan for 60.5 Billion Japanese YenStudy finds Coca-Cola accounts for 11% of branded plastic pollution worldwideCus - 'Small Form-factor Pluggable Optical Transceivers' are classifiable under CTH 8517 7090 and not under CTH 8517 62 90 - entitled for benefit of duty concession under 57/2017-Cus: CESTATDoNER discusses Development of Tourism in North EastCX - Appellant is eligible for exemption under Notfn 12/2012-CE upon fulfilling all conditions stipulated therein, thus sufficiently establishing that goods dealt with by Appellants qualify for exemption: CESTAT
 
Raksha Mantri launches modernization of facilities of Defence PSUs

By TIOL News Service

NEW DELHI, AUG 11, 2020: RAKSHA Mantri, Mr Rajnath Singh, launched the initiatives of a number of modernisation and up-gradation of facilities as also new infrastructure creation by Defence PSUs and OFB, through digital link here today, as part of the Atma Nirbhar Week celebration of the Ministry of Defence. Raksha Rajya Mantri Mr Mrpad Y Naik, Defence Secretary Dr Ajay Kumar, Secretary Defence Production Mr Raj Kumar, Vice Admiral Harikumar CISC, senior officers from DDP and CMDs and Chairman of DPSUs and OFB participated in the event through video conference links. Addressing them, Mr Rajnath Singh said Prime Minister Mr Narendra Modi gave a clarion call for Atma Nirbhar Bharat Abhiyaan and his 5-I formula of ‘Intent, Inclusion, Investment, Infrastructure and Innovation' will put the economy on high growth trajectory. He said our government has made timely and thoughtful interventions during Covid-19 times like issuing negative list for import, increase in FDI limits, separate budget for domestic capital procurement and emphasis on indigenization. “The ban on imports of 101 items is a big step towards an Atma Nirbhar Bharat. This list of negative items contains not only small items but weapon systems of high and critical technology. More such items will be added to this list shortly which will save crores of rupees in imports.”

Raksha Mantri said we will take more steps towards, Indigenisation, investment in defence infrastructure and expansion in defence manufacturing capability. These steps will create big opportunities for the Indian defence industry. In keeping with the vision of the Prime Minister, Mr Singh said the Department of Defence Production, Defence PSUs and Ordnance Factories Board have shown great enthusiasm and commitment in ushering in a truly Atma Nirbhar Bharat. He said “Defence industry has always been the forerunner of cutting-edge technologies world across and hence self-reliance in Defence is a tall task which needs whole hearted involvement of all to be fruitful.”  “The defence industries have been the force behind the Armed Forces. Today we are proud of our Defence PSUs and OFB for their continued support and sustained efforts towards this,” he added.

Under upgradation of facilities, Pinaka Rocket Complex at Ordnance Factory Chanda has launched Upgradation of facilities to meet the enhanced requirement of Pinaka and other rockets as well as the Assembly and testing facility for SRCG at OF, Trichy all of which are critical requirements towards defence preparedness. Modernization of facilities at OLF Dehradun will serve the purpose of  manufacturing of high-end Optoelectronic products for T-90 Tanks.

BEL has launched fully indigenised Maareech Integration facility for manufacturing, integration and testing of Anti Torpedo Defence System Maareech which has been designed by DRDO.

HAL has handed over the 500th AL-31FP overhauled engine to the IAF which are mounted on its most lethal frontline fighter aircraft Su-30MKI. It has been done by the Koraput Division of HAK.

BEML has set up Industrial Design Centre at Bengaluru as part of its new infrastructure creation. The Centre is first of its kind in India, focusing on implementing factors of Industrial Design & Human Factors as a part of developmental strategies for setting the global benchmarking in Industrial Design and Ergonomics in Products. It is proposed to develop this facility further as a national facility and would be offered to the industry in the next stage.

Under modernisation of facilities, GRSE has enhanced the capability at its Raja Bagan Dockyard to meet the production requirement for the ongoing prestigious P17A project. 

New infrastructure has been created in the defence sector in the shape of  foundation laying of Seeker Facility Center (SFC) at BDL, a new modular facility for manufacturing of Missile System (RF Seeker) that will reduce import dependence for seekers and Foundation Laying for Warheads Production Facility at BDL for manufacturing and testing of indigenously developed warheads required for Konkurs-M, Invar, Akash, Astra missiles etc. The facility being modular will cater to all futuristic missile warheads with incremental modifications.

A new state of art Steel Preparation Shop (SPS) at GSL has been inaugurated today that will enable indigenous construction of high technology Glass Reinforced Plastic (GRP) hull MCMVs along with other supporting infrastructure for the country.

MIDHANI under its Corporate Social Responsibility & Sustainable Development Policy has set up a state-of-the-art Skill Development Center and christened it as “Center of Excellence - Special Materials”. This facility will primarily focus on Promoting applied research for the development of Special Materials used in aerospace, defence, nuclear, space and other strategic areas.

Raksha Mantri unveiled these facilities by pressing a remote button. Congratulating the Department of Defence Production MoD, Defence PSUs and Ordnance Factories Board, Mr Rajnath Singh said “ These upgradation/ modernisation/new set-ups will give tremendous benefit in terms of reducing dependency on foreign resources for production as well as further maintenance, upgradation and life time support, all through safe and sound, indigenous hands.”  Mr Singh said “The spirit demonstrated by the DPSUs and OFB  will usher the nation in a quantum jump to a resilient, Atma Nirbhar economy.”

As part of Atma Nirbhar Week celebrations, various DPSUs and OFB are also organising a series of webinars covering all relevant topics and including the various stakeholders like industry experts, vendors and academia.


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.