News Update

GST - Attachment of Bank accounts - 15000 employees awaiting their salary - what is critical is whether the properties offered as security are unencumbered and whether company is in possession of the original title deeds: HCGST - Jt. Commr . of Commercial Taxes (A), without application of mind, has proceeded to reject the appeal which is arbitrary and in contravention of principles of natural justice - Order set aside: HCEnsure India's global recognition as a quality conscious nation: Piyush GoyalDigital India will unite urban India with rural Bharat: Sanjay DhotreBharat Biotech announces Covaxin Phase 3 results, says interim vaccine efficacy of 81 per centCBIC promotes 3 officers as Pr Chief Commissioner on in-Situ basisGST - Goliath 'retired' from Revenue Lexicon without retyring 'Due Date'!I-T - Statement recorded u/s 132(4) can't alone constitute incriminating material for carrying out assessment u/s 153(A): HCI-T - Disallowance u/s 14A r/w 8D(2)(iii) should be restricted only to percent of average investment income which is exempt, irrespective of whether such exempt income is received during relevant AY: HCI-T - When assessee claims to be involved in a manufacturing business, inspection of assessee's facility is a pre-requisite to understand nature of activity and only then proceed with assessment: HCTNVAT - Denial of ITC in respect of sales made to an EoU, is unsustainable, where relevant provision in TNVAT Act provides two options to either claim ITC or have it adjusted: HCGST Linked Incentive to J&K - A few questions - GST - An agenda for reforms - Part - 99ITC fraud - Gandhinagar CGST finds 68 fake units linked to Mumbai-based corporateAnti-dumping duty on phenol extended till June for imports from certain countriesDouble taxation - CBDT lays down procedure to deal with taxpayers' painWTO's Okonjo-Iweala 'ready to go' as she pushes for fisheries dealExpenses incurred in relation to earning of taxable income cannot be disallowed as direct expenses relating to earning of exempt income: ITATPenalty imposed is unsustainable where SCN omits to mention the specific provisions of Sec 271(1)(c) which had been contravened: ITATInsurance premium paid by employer for employees' family members, is allowable as business expenses, more so where the same was allowed in earlier AYs: ITATVAT - Transactions entered into by assessee were baldly held as taxable at higher rate, without examining relevant documents furnished by assessee - case remanded for reconsideration: HCUS House approves police reform bill - bans chokeholds & no-knock warrantsDouble taxation - CBDT lays down procedure to deal with taxpayers' pain   India proposes International Year of Millets 2023 and UN General Assembly adopts resolution by consensusGovt extends tenure of Delimitation Commission set up for J&K, Assam, Arunachal, Nagaland & Manipur for one more yearUK’s Chancellor Sunak proposes tax hike on companies & no roll-back of COVID-19 rescue schemesCOVID-19 - Strange! If infected by South African variant, it offers higher immunity against other variants, reveals StudyAfter health, Budget 2021-22 biggest focus is education: PM'Upgrade, create, dedicate' mantra for infrastructure sector: Goyal at Maritime India SummitEducation Ministry denies NIOS taking 'Gita, Ramayan to madrassas'My Lord or My Lady - How do you address a lady judge?Cabinet approves India-Fiji agreement for cooperation in agriculture and allied sectorsIndia's energy transition will be 'healthy mix' of all commercially viable sources: PradhanCabinet approves India-France pact on renewable energyGovt amends Insurance Ombudsman Rules, empowers policyholdersInnovation should be affordable for masses: Goyal at Global Bio-India Startup Conclave
Anticipate future needs, make innovations for tomorrow: PM at IIT Kharagpur

By TIOL News Service

NEW DELHI, FEB 23, 2021: PRIME Minister Mr Narendra Modi on Tuesday urged students to work towards creating startups and innovations that could address global issues and change the lives of people, as he addressed the convocation of Indian Institute of Technology (IIT) Kharagpur virtually.

He said the IITs have to play the role of "Institutes of Indigenous Technologies" as the solutions developed there could address problems that Indians are facing.

"IITs have to be taken to the next level so that they not only remain Indian Institute of Technology (IITs) but also become 'Institutes of Indigenous Technologies.' If IITs address problems that Indians are facing then they can also address global issues. If experiments are successful in India, then globally they are bound to be a success," said Mr Modi.

He said the call now is to work while anticipating the needs of the future, to make innovations for tomorrow, which engineers are capable of.

"As an engineer, you have the ability to move things from patterns to patents. That is, in a way, you have the vision to see subjects in more detail," he explained.

The Prime Minister asked the students to adopt the mantra of "Self 3" to overcome obstacles. "You need to become startups that change people's lives. You have to work on Self 3 - self-awareness, self-confidence and selflessness," he said.

"You should recognise your potential and move forward, move ahead with full confidence, move ahead with selflessness," added Mr Modi.

Drawing attention to climate change, the PM said India needs technology that minimises damage to the environment, is durable and user friendly. He also urged the students to develop infrastructure which can withstand natural disasters.

The PM also inaugurated the super-specialty Dr Syama Prasah Mookerjee Institute of Medical Sciences and Research at IIT Kharagpur. The MBBS, postgraduate and doctoral programmes in the institute are expected to start from the 2021-22 academic year.

Education Minister Mr Ramesh Pokhriyal Nishank and Minister of State for Education Mr Sanjay Dhotre were also present on the occasion.