News Update

I-T - High Court need not delve into merits of issue involving transfer pricing adjustment due to factual nature of such exercise: HCOmicron hop-scotches to 50 countries; detected in 16 States in US + Germany warns against travel over winter holidaysI-T - Where complainant is a public servant, period of limitation for filling application against acquittal order is six months and in every other case it is 60 days u/s 378(5) of the Cr. P.C : HCCOVID-19: India reports 2800 deaths with 9000 fresh cases on SundayI-T- Re-issuance of notice already issued by AO having jurisdiction u/s 143(2) and now subsequently transferred to another AO is not required :ITATBiden’s new tax deduction proposal to cost USD 275 bn revenue in next 5 yrsI-T- When AO completed assessment u/s 143(3) making certain addition in respect of unexplained investment he can't reopen the assessment for enhancement of addition merely on basis of report of DVO : ITATOmicron - Initial inputs on severity are quite ‘encouraging’, says Dr Anthony FauciI-T- Revisional proceedings are not rightly held as cash receipts on account of sales cannot be doubted if the assessee has sufficient stock : ITATKarnataka makes both does of vaccine mandatory for visiting malls & cinema hallsGST - 'Baby wipes' are correctly classifiable under heading 3307 and attract GST @18%: AAROmicron may wreck economic recovery ship: IMF ChiefGST - Tax credit of GST paid on leasing of land is not available: AARKerala issues gag order for medical officers interacting with media; formal nod to be obtainedGST - Healthcare service (diamond plan) provided for 20 years for patient and his family members upon payment of lump-sum amount of Rs.10 lakhs is exempted: AARCOVID-19 related restrictions: Protesters pelt stones & firecrackers at police; Earn teargas & water cannons in return in BrusselsGST - Aorom Herbal Smokes are not 'medicaments'' [HSN 3004] but Cigarettes of Tobacco substitutes, classifiable under HSN 2402 9010 and attract GST @28% and Compensation Cess of Rs.4006/- per thousand: AARPortuguese Govt dissolves Parliament; Polls on Jan 30ST - The Tribunal is not empowered to entertain the appeal filed against grant of refund/rebate of Swachh Bharat Cess (SBC) and Krishi Kalyan Cess (KKC) amount: CESTAT
NITI Aayog, Norwegian talk about Plastic-Free Cities & Oceans

By TIOL News Service

NEW DELHI, OCT 23, 2021: IN view of the pressing need for combating plastic pollution, NITI Aayog organized a National Policy Dialogue yesterday on “Plastic Free Cities and Oceans” under the Chairmanship of Dr Rajiv Kumar, Vice Chairman, NITI Aayog, with Mr Cyrill Gutsch, founder and CEO of “Parley for the Oceans”.

On World Environment Day in 2018, the Prime Minister had committed to eliminate 100% single-use plastic by 2022. Since then, India has taken several regulatory interventions, including bans and prohibitions, to attain the set targets.

The dialogue was attended by Mr.Eric Solheim, former Norway minister of environment and international development and former executive director of the UNEP; ambassadors of Japan and Norway; representatives from Denmark and Sweden; India Country Head, UNEP; and several senior officials of relevant ministries. Senior officials of coastal and Ganga-basin states and eminent academics joined virtually.

In his insightful presentation, Mr. Gutsch give highlighted the need for greater participation of large corporates and innovators to achieve results in this area. He put forward the concept of material redesigning for making a clean break from future use of virgin plastics. He shared that he has developed and patented an eco-innovative alternative “Parley Ocean Plastic” – a game-changing fiber from intercepted and upcycled marine plastic debris, and has collaborated with brands like Adidas, Stella McCartney, American Express and Corona to set up new industry standards. These type of breakthroughs are needed to free the world from toxic plastics.

Vice Chairman, NITI Aayog, while arguing that plastic waste management brings a unique cross-cutting opportunity to contribute towards 14 of the 17 SDGs, suggested collaboration with National Mission for Clean Ganga (NMCG) and Islands for tracing plastics in River Ganga and coastal areas for strengthening plastic waste management.