SIGN IN SUBSCRIBE

News Update

Diversion of goods imported under Advance Licence to Open Market: Mens rea upheldSeasonal rainfall likely to be 106 % of Long Period Average: IMDWorkshop held for Eco-friendly Measures for Holistic National Highway DevelopmentI-T- Mere existence of power to assess or reassess six AYs' immediately preceding AY corresponding to year of search or 'relevant assessment year' would not justify invocation of Section 153C - HCWhat was Biden’s income in 2023? - ITR shows USD 6.2 lakhI-T - Act & Rules thereto provide a method for service of notices & orders; communication of notices before any action is taken, is mandatory: HCMumbai Police nabs two shooters involved at random firing at Salman’s houseI-T- Assessee cannot be expected to be logged in to I-T portal at all times, so as to be notified of actions taken by Department: HCIRS fears spurt in crypto tax evasion casesI-T - Expenses written off is only allowable if assessee offers said amount as income in previous years: HCBreast cancer to kill over 10 lakh women by 2040: Lancet ReportI-T- Deduction u/s 35(1)(ii) in respect of donation made to scientific research institute, is rightly denied, where no evidence is furnished to show valid approval was taken from prescribed authority for taking donation: ITATChina’s bubble tea stirs global buzzI-T- Penalty imposed u/s 271(1)(c) merits being quashed where exact charge between concealment of facts and furnishing inaccurate particulars of income, are not specified : ITATSamsung gets USD 6.4 bn in subsidy for Texas chip productionI-T- Penalty is unwarranted where the complete factual data pertaining to Assessee's claim was also available before AO during the course of assessment : ITATIndia to resume FTA talks with EU next monthI-T- Assessee has not involved in manipulation of stock prices for purpose of earning bogus LTCG : ITATPM says he has big plans for countryGST - 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: HCTCS to hire 25K freshers in 2025GST - Retrospective cancellation of registration - Complete non-application of mind - Order refers to a reply filed whereas fact is that the proprietor had passed away and no reply had been filed: HCElection Commission seizes over Rs 4600 Cr cash - highest for LS pollsGST - Proper officer has not applied his mind but dismissed the reply submitted as not satisfactory - Order set aside and matter remitted: HCIMD says it is likely to be above-normal Monsoon for IndiaCus - Acceptance of re-assessed value & voluntary payment, per se cannot be deemed to be admission to alleged mis-declaration of value - Burden rests with Department to establish allegations: CESTATProtesters demanding restoration of monarchy and Hindu State lathicharged in KathmanduCX - Bituminized Hessain Tape, Rot-proofed Bituminized Hessian Cloth mixed with Copper Napthalate, Bituminized Cotton Tape, being used for industrial purposes, is rightly classified under CTH 5909; benefit under Notfn No 175/86 is also allowed to manufacturer: CESTAT
 
Mission COVID Suraksha - Govt ramps up Covaxin production

By TIOL News Service

NEW DELHI, APR 17, 2021: UNDER Atmanirbhar Bharat 3.0 Mission COVID Suraksha was announced by the Government of India, to accelerate the development and production of Indigenous COVID Vaccines. This is being implemented by Department of Biotechnology Govt. of India.

Under the Mission the Department of Biotechnology Govt of India is providing financial support as Grant to vaccine manufacturing facilities for enhanced production capacities. The current production capacity of indigenously developed Covaxin vaccine will be doubled by May-June 2021 and then increased nearly 6-7 fold by July - August 2021 i.e increasing the production from 1 crore vaccine doses in April, 2021 to 6-7 crore vaccine dose/month in July - August. It is expected to reach nearly 10 crore doses per month by Sep 2021.

Few weeks back, Inter-ministerial teams had visited the sites of 2 main vaccine manufacturers in India to get their inputs on how production can be ramped up. In this period, there have been extensive reviews and feasibility studies on the plans being discussed with vaccine manufacturers.

As a part this augmentation plan, capacities of Bharat Biotech Limited, Hyderabad as well as other public sector manufactures are being upgraded with required infrastructure and technology. Financial support is being provided as grant from GoI to the tune of appx Rs 65 Cr to Bharat Biotech's new Bangalore facility which is being repurposed to increase the capacity of vaccine production.

3 public sectors companies are also being supported to increase the capacity of vaccine production.

Haffkine Biopharmaceutical Corporation Ltd, Mumbai -a State PSE under State Govt of Maharashtra. Financial support as grant from GoI to the tune of appx Rs 65 Cr will be provided for this facility to be made ready for manufacturing. The Haffkine Biopharmaceuticals Ltd had asked for around 12 months to complete this task. However, the Central government has asked them to expedite and complete the task urgently within 6 months. The facility will have a capacity of 20 million dozes per month, once functional.

Indian Immunologicals Limited (IIL), Hyderabad - A facility under National Dairy Development Board and Bharat Immunologicals and Biologicals Limited (BIBCOL), Bulandshahr  a CPSE under Department of Biotechnology, Govt of India will also be supported to prepare their facility to provide 10-15 million dozes per month by Aug - Sep 2021.


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
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.

TOP NEWS

AR not Afar by SK Rahman

VISION 360





Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

TII LATEST

TIOLCORPLAWS LATEST