News Update

Cabinet greenlights extending PMGKAY by 5 years; to cost Rs 11.80 Lakh CroresCabinet approves drone use by women-run SHGs; subsidy included tooCabinet approves Terms of Reference for 16th Fin Com13 killed in bus-train collision in TanzaniaCabinet okays 3-year Central funding extension for fast-track special courtsCabinet ratifies scheme for revamping basic facilities delivery to Particularly Vulnerable Tribal GroupsCostly CommissionersI-T - Purpose of Section 40(a)(ia) is to disincentivize non-deduction of tax at source by disallowing, as deduction, amount paid to resident/payee: HCUnraveling Complexity: MFN Clause and Its Tax Treaty RamificationsI-T - If AO did not have tangible material on record that could have persuaded him to form belief that income otherwise chargeable to tax, had escaped assessment, notice u/s 148 deserves to be quashed: HCCommission for Air Quality Management in NCR revokes Stage-III of GRAP with immediate effectI-T - Time spent by applicant while pursuing review proceedings deserves to be excluded even under principles analogous to Sec 14 of Limitation Act, if he acted in good faith: HCNASA chief calls on MoS, discusses launching joint Satellite with ISROI-T - Since ROI was filed though after search and seized cash was offered by assessee under then prevailing regime, it is to be treated as the advance tax and thus there is no default in payment of advance tax : HCMinistry of Defence inks contract with BHEL for Super Rapid Gun Mount & accessories for Indian NavyCOP28 Panel’s sage advice: ‘Tax the bad’ for climate financeI-T- Since loan received from M/s Godavari is routed through regular banking channel and reflected duly in annual accounts not require addition u/s 68 of Act : ITATUS Embassy issues over 1.4 lakh visas to Indian students in last one yearRozgar Mela: PM to distribute 51,000 appointment letters tomorrowVietnam Parliament approves Global Minimum Tax for corporateI-T- If assessee is corporate entity then ad hoc disallowance of expenditure without pointing out any specific defect is not permissible : ITATTurkey asks UN to prosecute Israel for Gaza crimesST - SVLDRS, 2019 - Only minor variation in the amount proposed in SCN and amount declared in form SVLDRS-1 - Petitioner entitled for relief under the scheme: HCUkraine’s military intelligence head’s wife poisonedGST - SCN is dated 4 th March; reply is to be filed within 30 days but petitioner asked to appear for hearing on 17 th March - Real intention of Department is not to provide fair opportunity to defend their case, but, only to put the petitioner in peril: HCUttarakhand tunnel case - All 41 workers are out; rushed to hospital for routine check-upCus - Since manufacturing activity undertaken and payment of CE was acknowledged and not disputed, same cannot be questioned by Customs department without any clinching evidence that such machine in question was imported into India as such or in un-assembled condition for it to be held liable to ADD: TribunalGovt has received chip-making proposal worth USD 12 billion, says VaishnavST - Activities of screening cargo through x-ray machines and build-up of cargo for loading onboard aircrafts, fall under Cargo Handling Service as well as under Airport Service - However, as per Section 65A of Finance Act 1994, since Section 65(23) occurs before Section 65(105)(zzm) of the Act, both services will be classifiable under Cargo Handling Service : CESTATAnak Krakatau volcano in Indonesia spews 1 km high column of smokes and ashCus - Discrepancies between goods imported and their quantity declaring in packaging list - Appellant, a Customs Broker, permitted freight forwarder to upload packaging list on e-Sanchit portal using Appellant's credentials - this is act of negligence, cannot be punished with forfeiture of brokers' license: CESTAT
 
ONDC network starts beta testing with consumers in Bengaluru

By TIOL News Service

NEW DELHI, OCT 01, 2022: IN a significant milestone, Open Network for Digital Commerce (ONDC), an initiative of the Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, Government of India has opened its network to consumers in 16 locations across the city of Bengaluru.

To begin with, consumers can place their orders in two domains – groceries and restaurants through buyer apps participating on the ONDC network.

ONDC's beta test in the city of Bengaluru is a major first step in operationalising a network approach to e-commerce as an alternative to platform centric approach. This will make e-Commerce landscape more inclusive, accessible and experience driven for all consumers and sellers.

Consumers can now shop from multiple categories of products and services from a single buyer application of their choice. They can buy grocery products or order food from the stores and restaurants. In the coming weeks many more applications will join the network expanding both buyer and sellers who can participate in this transaction.

ONDC started its Alpha test phase with a closed user group of buyers first in Bengaluru in April 2022 expanding to more than 80 cities by September 2022. This validated the apps and confirmed business and operational flows. Now in beta testing phase, general public can experience shopping via ONDC and provide early feedback for necessary action if any before expanding further.

To build trust amongst consumers, sellers and Network Participants (Buyer Apps, Seller Apps & Gateways) in the open network, ONDC has consulted current ecosystem, experts and examined best practices for adapting and evolving the best approach to build trust in an unbundled decentralised network. This is explained in a consultation paper that is being made available for public consultation on the official social media handles of DPIIT, ONDC and the website.

Incorporated on 31st December 2021, Open Network for Digital Commerce (ONDC), a Section 8 company is an initiative of the Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, Government of India, envisioned to create a facilitative model to revolutionise digital commerce, giving greater thrust to penetration of retail e-commerce in India. ONDC is not an application, platform, intermediary, or software, but a set of specifications designed to foster open, unbundled, and interoperable open networks thereby eliminating the dependency on a single platform.

Major ONDC objectives are:

- Democratisation and decentralisation of eCommerce

- Inclusivity and access for sellers, especially small and medium enterprises as well as local businesses

- Increased choices and independency for consumers


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tax Congress 2023 - Technical Session on 'Taxation of New Age Digital Industry'





Technical Session 5 of TIOL Tax Congress 2023: GST – Second-Generation Reforms, including Technology.




TIOL Tube brings you an interview with former US Secretary of Treasury, Mr. Larry Summers who was recently in Delhi.