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Cus - Subsequent to order under challenge, Customs Broker Licence of appellant has been revoked, appeal becomes infructuous: CESTATCus - Since the licence has ultimately been revoked, appeal directed against confirmation of suspension of Customs Broker licence, has been rendered infructuous: CESTATCus - Once verification of address is complete, if client moves to a new premises and does not inform authorities or does not get his documents amended, such act or omission of client cannot be held against Customs Broker: CESTATCus - Once verification of address is complete, if client moves to a new premises and does not inform authorities or does not get his documents amended, such act or omission of client cannot be held against Customs Broker: CESTATCus - Subsequent to order under challenge, Customs Broker Licence of appellant has been revoked, appeal becomes infructuous: CESTATCus - Subsequent to order under challenge, Customs Broker Licence of appellant has been revoked, appeal becomes infructuous: CESTATSuspension & Revocation of Customs Broker LicenseIranian President Ebrahim Raisi, foreign minister die in chopper crash in northwestern IranI-T - Escapement of income due to claim of deduction u/s 80-IB(10) was certainly a subject matter of appeal and admittedly so and on this income reassessment is not permissible : HCPatanjali staffers jailed after much-hyped ‘Soan Papdi’ fails food standardsFSSAI alerts Fruit Traders against use of Calcium Carbide in Fruit RipeningBlowback for Sunak mulling curbs on post-study visas for foreign studentsI-T - Additions framed u/s 68 on account of unexplained cash credit cannot be sustained where AO does not specify how such additions had been computed: ITATIranian President Raisi’s death confirmed in copter crashPoll-related seizures piling up close to Rs 9,000 croresI-T - Charitable organisation cannot be denied registration u/s 12AB solely on grounds that it is managed by one person, but where its activities are for the benefit of the entire society at large: ITATIndonesian volcano turns active; 7 villages evacuatedCitizens join big time with EC to check electoral malpracticesCongo Military claims it foiled serious bid of coup involving Americans and British menI-T - Material to be considered for invoking Search assessment should be seized in course of search u/s 132 of the Act on searched action or requisitioned u/s 132A: ITATNew Taiwanese President assumes office amid rising tensions from China889 candidates to contest elections in Phase 6I-T - Failure of AO in recording the satisfaction based on any material seized during the course of the search, vitiates search assessment proceeding: ITATECI seizures inches close to Rs 9000 Cr; 45% of seizures are drugsPMLA - If accused appears before Special Court pursuant to summons, he shall not be treated as if he is in custody and it is not necessary for him to apply for bail : SC (See 'TIOLCorplaws')Delhi logs 44.4 degrees temperature on SundayCus - Warehoused goods cleared for export & was bound for foreign-going vessel; Customs officers issued Let Export order; Department's allegation of goods being diverted not backed by evidence, hence unsustainable: CESTATAmnesty Scheme for exporters: Govt recovers Rs 852 CroreCustoms - CBIC prescribes undertaking from importers of lubrication oil for clearance of consignmentGas tanker blast in Pune; Hotels, houses guttedST - Dry Leasing - Agreement between assessee & party for leasing jet aircraft with possession solely at risk of lessee along with maintenance, is not Supply of Tangible Goods; transaction amounts to Deemed Sale under Article 366(29A) of Constitution & hence excluded from Service Tax levy: CESTATViolations of economic sanctions: Criminal penalties come into forceST - Commissionerate at Raipur lacks jurisdiction to issue SCN demanding tax for such service which was provided by assessee's unit in Delhi, where service in question is rendered outside jurisdiction of Raipur Commissionerate: CESTATBengaluru Customs nabs 4 pax with gold powder worth Rs 1.96 CroreST - No question of suppression of facts would arise where assessee regularly files returns & maintains proper books; extended limitation need not be invoked in these circumstances: CESTAT
 
Govt approves welfare measures for LIC agents and employees

By TIOL News Service

NEW DELHI, SEP 18, 2023: THE Ministry of Finance today approved a series of welfare measures for the benefit of Life Insurance Corporation of India (LIC) agents and employees. The welfare measures are related to the amendments to LIC (Agents) Regulations, 2017, Enhancement of Gratuity Limit, and Uniform Rate of Family Pension among others.

The following welfare measures w.r.t. LIC agents and employees were approved:

- Enhancement of the gratuity limit from Rs 3 lakh to Rs 5 lakh for LIC agents. It will bring substantial improvements to the working condition and benefits of LIC agents.

- Enabling reappointed agents to be eligible for renewal commission, thereby providing them with increased financial stability. Currently, LIC agents are not eligible for renewal commission on any business completed under the old agency.

- The term insurance cover for the agents has been expanded from the existing range of Rs. 3,000-10,000 rupees to Rs. 25,000-1,50,000. This enhancement in term insurance will significantly benefit the families of deceased agents, offering them a more substantial welfare benefit.

- Family pension at a uniform rate of @30% for the welfare of the families of LIC employees.

More than 13 lakhs agents and more than 1 lakh regular employees, who play a pivotal role in the growth of LIC and deepening of insurance penetration in India, will benefit from these welfare measures.


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