News Update

GST - The Court in exercise of its writ jurisdiction, would be disinclined to set aside, much less to stay SCN, more particularly when impugned SCN are adjudication bound: HCGST - Opportunity to file TRAN-1 and TRAN-2 Forms, has been opened to all concerned parties for a period of two months from 01.09.2022 to 31.10.2022: HCStart-Up Certification - Time to brood over!PM shares 3Ts mantra at NITI Aayog Meet - Trade, Tourism & TechnologyFake Invoicing under GST - A clarity searchTata Motors buying Ford India’s factory for Rs 725 CrI-T - Recovery of demand from company directors cannot be resorted to where no satisfaction is recorded about tax not being recoverable from company: HCUS Senate passes Biden’s Inflation Reduction Bill - USD 369 bn for climate actionI-T - Refund payable to an assessee cannot be withheld solely because notice u/s 143(2) has been passed & where no valid reason is given: HCTurkish banks embrace Russian payment systemI-T - Transfer of assessment is invalid where assessee is not given personal hearing before transfer : HCCOVID - 2.15 lakh cases with 161 deaths in Japan + 1.06 lakh cases with 27 deaths in S KoreaI-T - Disallowance of payment on grounds of unexplained gift is upheld where intention to gift money is not clearly established due to entire transaction not being through banking channels : HCNew Colombian President calls for new global strategy to deal with drugs problemI-T - Words 'a one residential' mentioned in Section 54 refers to only one house which can be purchased or constructed and can not be interpreted as 'more than one house' : ITATNigeria to recover lost Benin Bronzes to be returned by London’s Horniman MuseumI-T - Assessee is not required to deduct TDS at time of payment of EDC to HUDA : ITATChina’s military drill simulates assault on Taiwan’s main islandI-T - Amended provisions of Section 54F do not have retrospective effect: ITATCOVID - Positivity rate soars close to 15%; Delhi reports over 2400 fresh cases on SundayST - Matter has been adjourned more than three times, but none appeared on behalf of appellants, thus appeal dismissed for non-prosecution: CESTATIndia to have over 40 Cr air travellers by 2027: ScindiaCX - When sale of goods is on FOR basis, central excise duty cannot be charged on cost of freight from their premises to premises of buyer: CESTATMega blaze at Cuban oil installation - 1 dead; 121 injured & 17 missingCus - Since amount was lying in nature of pre-deposit with department from date of encashment of Bank Guarantee, appellant is entitled to interest from said date under Section 129EE @ 12% p.a.: CESTATLightning strikes - 9 die; 2 hospitalised in MPST - Mere fact that differential amount of service tax was paid by service provider on being pointed out doesn't establish that tax was short paid or was not paid by reason of fraud, suppression or misstatement with an intent to evade payment of service tax: CESTATP Chidambaram alleges India’s institutions are captured & democracy running out of puffCX - The manufacturer/dealers issued only invoices and no goods were dispatched by them with invoices, assessee failed to comply with provisions of Credit Rules, therefore, not entitled to take CENVAT credit on strength of invoices which were not genuine: CESTATIndia, US to conduct high-altitude joint training in Auli near China borderGovt appoints N Kalaiselvi, first woman, to head CSIRUS commits to defend Philippines in case of attack in South China SeaExport of processed food up by 31% to USD 7408 mn in 3 monthsIncome Tax raids mutual fund house in Mumbai
 
India's energy transition will be 'healthy mix' of all commercially viable sources: Pradhan

By TIOL News Service

NEW DELHI, MAR 03, 2021: MINISTER of Petroleum and Natural Gas Mr Dharmendra Pradhan on Tuesday said that India's approach to cleaner energy and low carbon economy will attach high priority to maximising deployment of all energy sources available within the country.

Addressing the Clean Energy Conclave at Global Bio-India 2021, Mr Pradhan said clean energy will play a large role in fuelling the growth of the Indian economy to manage the ambitions and needs of the population.

"Our approach for cleaner energy and low carbon economy will be guided by a well-defined energy transition road map… This essentially means it will be a healthy mix of all commercially viable energy sources," said the minister.

"We will attach high priority for maximising deployment of energy sources, including biofuels, emerging fuels such as hydrogen, available within the country," he added.

He said that next-generation infrastructure is being built based on energy availability and accessibility, its affordability, usage efficiency, sustainability for combating climate change and security for mitigating global uncertainties.

He said India's shift to a 'gas-based economy' will see natural gas emerge as a significant transition fuel as the government plans to increase its share form the current 6 per cent to 15 per cent by 2030 with the 'one nation one gas-grid' scheme, and setting up Liquefied Natural Gas (LNG) regasification terminals, among others.

Mr Pradhan also spoke about biofuel programmes in the country which are creating a "balance between our environment and economic development." The government is setting up 12 2G-ethanol plants across 11 States at an estimated cost of Rs. 14,000 crore.

"These bio-refineries will significantly contribute towards the ethanol blending programme for achieving 20 per cent ethanol-blending in petrol by 2025," said the minister.

The government is also encouraging setting up of supply chain mechanisms for biodiesel production from non-edible oilseeds, used cooking oil, and short gestation crops. They also plan to roll-out 5,000 compressed biogas plants across India in a phased manner by 2023 with an investment potential of USD 20 billion under the Sustainable Alternative Towards Affordable Transportation scheme.


POST YOUR COMMENTS