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GST - Neither SCN nor the order spell out the reasons for retrospective cancellation of registration, hence cannot be sustained: HCGST - Non-application of mind - If reply was unsatisfactory, details could have been sought - Record does not reflect that such exercise was done - Matter remitted: HCGST - Merely because a taxpayer has not filed returns for some period does not mean that registration is required to be cancelled with retrospective date also covering the period when returns were filed and taxpayer was compliant: HCGST - Petitioner's reply, although terse, is not taken into account while passing assessment orders - Petitioner put on terms, another opportunity provided: HCUnveil One Nation; One Debt Code; One Compliance Rule for Centre & StatesChina moves WTO against US tax subsidies for EVs & renewable energyMore on non-doms - The UK Spring Budget 2024 (See TII Edit)Notorious history-sheeter Mukhtar Ansari succumbs to cardiac arrest in UP jailTraining Program for Cambodian civil servants commences at MussoorieNY imposes USD 15 congestion taxCBIC revises tariff value of edible oils, gold & silver45 killed as bus races into ravine in South AfricaCBIC directs all Customs offices to remain open on Saturday & SundayBankman-Fried jailed for 25 yrs in FTX scamI-T- Once the citizen deposits the tax upon coming to know of his liability, it cannot be said that he has deliberately or willfully evaded the depositing of tax and interest in terms of Section 234A can be waived: HCHouthis attack continues in Red Sea; US military shoots down 4 dronesI-T- Secured creditor has priority charge over secured asset, over claims of I-T Department & other Departments; any excess amount recovered by Secured Creditor from auction of secured asset, over & above the dues payable to it, are to be remitted to the Departments: HCFederal Govt hands out USD 60 mn to rebuild collapsed bridge in BaltimoreI-T - Receipts of sale of scrap being part & parcel of activity and being proximate thereto would also be within ambit of gains derived from industrial undertaking for purpose of computing deduction u/s 80-IB: HCCanadian School Boards sue social media titans for 4 bn Canadian dollar in damagesI-T - Once assssee on year of reversal has paid taxes on excess provision and similar feature appeared in earlier years and assesee had payments for liquidated damages on delay of deliverables, no adverse inference can be drawn: HCFormer IPS officer Sanjiv Bhatt jailed for 20 yrs for planting drugs to frame lawyerST - Software development service & IT-enabled service provided by assessee was exempt from tax during relevant period, by virtue of CBEC's Notification & Circular; demands raised for such period not sustainable: CESTATUN says Households waste across world is now at least one billion meals a dayCus - Order rejecting exporter's request for conversion of Shipping Bills on grounds that the same has been made by exporter beyond period of three months from date of Let Export Order in terms of CBEC Circular No. 36/2010-Cus : CESTATIndia, China hold fresh dialogue for complete disengagement on Western borders: MEACus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTATThakur says India is prepared for 2036 OlympicsCX - As per settled law, a right acquired as result of a statutory provision, cannot be taken away retrospectively unless said statutory provision so provides or by necessary implication has such effect: CESTAT
 
IEA, NITI Aayog launch Report on Sustainable Recovery

By TIOL News Service

NEW DELHI, SEPT 22, 2020: AGAINST the backdrop of the ongoing Covid-19 crisis, International Energy Agency (IEA), in collaboration with NITI Aayog, presented a ‘Special Report on Sustainable Recovery' on 18 September 2020.  

Part of IEA's flagship World Energy Outlook series, the report proposes a number of actions that could be taken over the next three years to revitalize economies and boost employment while making energy systems cleaner and more resilient.

The report was virtually launched by IEA Executive Director Dr Fatih Birol and NITI Aayog CEO Amitabh Kant, in the presence of Minister of Railways and Minister of Commerce and Industry Piyush Goyal.

IEA Chief Energy Modeller Laura Cozzi presented the key findings, and Chief Economic Adviser Krishnamurthy Subramanian was also present during the launch.  

Congratulating the IEA, Union Minister Piyush Goyal said this is the right time to move forward and prepare ourselves for a resilient and sustainable future, as rightly pointed out in the report. He mentioned that the current crisis should be used as an opportunity to make energy transitions smoother, faster, more resilient and affordable. He added that to this end, Indian Railways is committed and confident for 100% electrification by December 2023 and becoming net zero emitter by 2030.

As governments around the world respond to Covid-19, the IEA's report, prepared in cooperation with IMF, details energy-focused policies and investments that could help boost economic growth, create jobs and put emissions into structural decline while making energy systems lower-cost, secure and resilient.

‘Post the 2008–09 financial crisis, green measures accounted for around 16% of the total stimulus measures. To recover from the pandemic, we must be even more ambitious and decisive towards clean investments. Given that need, IEA's Sustainable Recovery Plan has a very useful role in guiding governments, businesses, technologists and other key decision-makers. NITI Aayog has been championing sustainable initiatives since its inception. The SDG indices, Electric Mobility Mission, ACC battery scheme and our leadership in methanol economy initiatives, stand testament to NITI Aayog's commitment to the sustainable causes,' said CEO Amitabh Kant.

Dr Fatih Birol agreed and added, ‘Even though Covid-19 has made 2020 such a grim year, I see increasing grounds for optimism for clean energy transitions globally. This is in part due to solar energy becoming even more competitive, thanks to efforts by countries like India. Our Sustainable Recovery Plan shows governments how to tackle today's major economic, energy and climate challenges simultaneously. The key opportunities for India include increasing support for electric vehicles, continued investment in the power sector, and improving energy access in rural areas through improvements to the clean cooking programme.'

Chief Economic Adviser Dr KV Subramanian discussed India's economic situation and path to recovery and mentioned that the pandemic has highlighted the role of sustainable economic development and India is at the forefront of this effort.

The report mentions key sectors for creating jobs: electricity, transportation, buildings, industry and sustainable biofuels and innovations. A combination of policy actions and targeted investments will offer huge benefits to the economy and generate jobs. However, the measures highlighted in the report remains the sovereign choice of the country.


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