Budget 2024 Updates

Pax plane crashes with 23 onboard at Kathmandu airport; 18 killedINDIA bloc boycotts Parliament; says Budget is discriminatoryI-T- Re-assessment - additions quashed as assessee given fresh opportunity to adduce evidence; nevertheless, assessee failed to participate in hearing despite multiple notices - costs of Rs 40000/- imposed on assessee: HCCX - Final product is copper cathodes and not sulphuric acid, which is a by-product - Oxygen gas captively consumed in manufacture of sulphuric acid is entitled to exemption in terms of notification 67/95-CE: HCGST - Same input and output supplies though attracting different tax rates at different points of time - Since para 3.2 of Circular 135 has been struck down as ultra vires, refund to be extended: HCGST - Demand confirmed since petitioner failed to file a reply - Petitioner can be given one opportunity to explain subject to they depositing 25% of disputed tax from its Electronic Cash register: HCGST - Petitioner's assertion that the ITC available in GSTR-2A exceeds that availed of in GSTR-3B was not considered - Matter remanded; bank attachment lifted: HCGST - Legitimate trade and commerce by every supplier should be allowed to be carried on subject to payment of tax and statutory compliance - Registration to be revived: HCGST - Petitioner unaware of SCNs and the orders passed - Subject to petitioner depositing 25% of disputed tax, matter remanded: HCTaxonomy is not about taxesBudget for Vikasit BharatI-T- Re-assessment invalidated where AO fails to record reasons for re-opening assessment & omits to apply mind before issing notice: ITATWill the Old Tax Regime be Consigned to A Margadarshak Role?I-T - Merely because there were rates differential amongst purchases from different vendors, it cannot be sole reason to infer over-invoicing / inflation of purchases: ITATGSTAT to deal with Anti-Profiteering casesI-T- Proceeds from sale of unsold lottery tickets lying with assessee who is engaged as dealer of lottery tickets, is to be construed as business income : ITATDepartment of Posts releases beta version of DIGIPIN for public commentsI-T-Business loss incurred by the assessee after exclusion of price money from net profit is eligible for set off against winning from lotteries under section 71 of the Act: ITATGovt issues Guidelines for 'Incentives to DISCOMs'I-T- Provisions of Section 44AE cannot be applied to an assessee whose contractor engaged in leasing vehicles owns less than 10 vehicles: ITATGovt has taken initiatives to promote exploration and processing of critical mineralsCX - Since goods have been imported and received at factory of appellant, photocopies of Bills of Entry are supported by certificate for loss of original as well as certificate issued by customs authorities for payment of duty, appellant is eligible for credit: CESTATMajor steps taken for Water Conservation and Rainwater HarvestingST - As per CBEC Circular No. 555/51/2000-CX.1 dated 19.10.2000, where amended provision u/s 11A is invoked to demand duty, it will have retrospective operation: CESTATJuly 21 (Sunday) was hottest day on earth since Ice Age: ScientistsRajasthan gets new industrial park in Union BudgetOver 200 killed in landslides in EthiopiaMacron to retain caretaker govt till OlympicsRepublicans at pain as Harris takes over Biden’s campaign fundsTN Chief Minister to boycott NITI Aayog Saturday meeting as TN gets nothing from BudgetBudget 2024 promotes New income tax regime; offers new tax slabs as sopBudget bonanza for MSMEs - Easier access to credit; boosting export capacityThe GST Summons: A relative can appear!Conditions for revocation of cancellation of registration - May be, maybe not!Benami Act: Immunity can now be withdrawn on IO report
 
Department of Posts releases beta version of DIGIPIN for public comments

 

By TIOL News Service

NEW DELHI, JULY 24, 2024: DEPARTMENT of Posts is advancing an initiative to establish a standardized, geo-coded addressing system in India, for ensuring simplified addressing solutions for citizen-centric delivery of public and private services. In this regard, the Department had collaborated with IIT Hyderabad for developing a National Addressing Grid, named as Digital Postal Index Number (DIGIPIN). This system will act as a strong and robust pillar of Geospatial Governance, leading to enhancements in public service delivery, faster emergency response and a significant boost to logistics efficiency.

The DIGIPIN layer will act as the addressing reference system which can be used for logically locating addresses with directional properties built into it due to the logical naming pattern followed in its construction.

The DIGIPIN is proposed to be fully available in the public domain and can be easily accessed by everyone. The DIGIPIN Grid system being an addressing referencing system, can be used as the base layer for other ecosystems, including various service providers and utilities, where addressing is one of the processes in the workflow.

This system will act as a strong and robust pillar of Geospatial Governance, leading to enhancements in public service delivery, faster emergency response and a significant boost to logistics efficiency.

The advent of DIGIPIN will mark a revolutionary step in India's journey towards digital transformation by bridging the crucial gap between physical locations and their digital representation.

The Department has released a beta version of National Addressing Grid ‘DIGIPIN' on 19.07.2024 for public feedback, the details of which may be accessed through the India Post website: https://www.indiapost.gov.in/vas/Pages/digipin.aspx

The Department encourages everyone to explore the beta platform and provide constructive feedback, which will help in fine tuning the specifications of the DIGIPIN. The comments and suggestions in this regard may please be sent by email to: digipin@indiapost.gov.in by 22.09.2024.


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