Department Financial News

ANI has reported. IT sources told ANI that the counting of notes up to an amount of ₹50 Crores completed till yesterday but since the number of notes is so high the machines stopped working.

Dream 11 on Wednesday withdrew its petition in the Bombay High Court that challenged the revenue department’s show cause notices issued by the company for alleged evasion of Goods and Services Tax (GST) of over Rs 1,200 crore. The development came after the additional government pleader Jyoti Chavan appearing for the state authorities informed the court that the department had withdrawn the show cause notice. Originally the state GST department had issued a notice for the financial year 2017-18 and 2018-19 alleging tax evasion. Subsequently, the company Dream11 challenged these notices in the high court.

The government on Thursday clarified that seven bacterial cases detected at AIIMS Delhi have no link to the respiratory infections in children reported in various parts of the world, including China. Media reports had claimed detection of bacterial cases in AIIMS Delhi linked to the recent surge in pneumonia cases in China. The ministry of health said that seven cases were identified as part of an ongoing study conducted at AIIMS Delhi from April to September 2023.

iith.ac.in. As per the notification, the last date to apply is 22nd December. The notification states the opening is available for 15 departments namely: Artificial Intelligence, Electrical Engineering, Biomedical Engineering, Entrepreneurship and Management, Biotechnology, Liberal Arts, Chemical Engineering, Materials Science and Metallurgical Engineering, Chemistry, Mathematics, Civil Engineering, Mechanical and Aerospace Engineering, Computer Science & Engineering, Physics, Design.

SEZ Rules, 2006. As per the Special Economic Zones (Fifth amendment) Rules, 2023, the Board of Approval, on request of a developer of an information technology (IT) or IT-enabled services SEZs, may permit demarcation of part of the built-up area of the SEZ as non-processing area. This non-processing area can be utilised to set up operations of businesses engaged in the IT and ITeS. However, the non-processing area will consist of a complete floor and part of a floor will not be allowed to be demarcated, said a memorandum issued by the Department of Commerce late Wednesday. Board of Approval will allow demarcation only after repayment, without interest, of tax benefits attributable to the non-processing area, social and commercial infrastructure created to be used by both processing and the proposed demarcated area. The move is expected to allow developers to lease the non-processing area to IT companies not involved in export activity and reduce the vacancy levels at their office complexes. “Most of these IT SEZs are at prime locations and these complexes will achieve full leasing once the new changes kick in.

Veena George ordered an investigation on Wednesday, into allegations of dowry harassment linked to the alleged death of a 26-year-old female doctor in Thiruvananthapuram. As reported by ANI, the Director of the Women and Child Development Department has been instructed to furnish a detailed report on the probe into the accusations of dowry harassment involving a male doctor at Thiruvananthapuram Medical College related to this incident.

Switzerland-based exchange traded product (ETP) firm 21Shares has confirmed its chief operating officer Lucy Reynolds, has left the firm.

Emart, South Korea’s largest retailer and supermarket chain, says its new next-generation ATMs could soon feature crypto and security token offering (STO) trading functions.

University of Nevada, Las Vegas, on Wednesday left at least three people dead before the bloodshed ended with the suspect's own death, authorities said. The Las Vegas Police Department said in written statement on social media that three people, aside from the shooter, were killed. Another person who was shot is in critical condition.

«I have decided to depart the House at the end of this year to serve America in new ways. I know my work is only getting started,» McCarthy said in an op-ed on the Wall Street Journal. While McCarthy did not specify what his next steps could be, he promised to stay active in Republican politics.

Directorate of GST Intelligence (DGGI) over the secondment issue, sources in the know told ET. Secondment or deputation of expatriates is subject to GST if the expatriate employee is being reimbursed by the Indian company for the services provided to the company. As per the GST law the Indian company is deemed as the recipient of the service, and the services provided by the expatriate will be considered as a «supply of manpower» under the GST law. Thus the Indian company is liable to pay GST on the value of the deemed supply at the applicable rate.

fiscal deficit target of 5.9% of gross domestic product (GDP) for 2023-24. The demands involve gross additional spending of more than ₹1.29 lakh crore in this fiscal, a significant chunk of which, ₹70,968 crore, will be met through savings or enhanced receipts of various ministries and departments, according to the papers tabled in both houses of Parliament. Late last month, officials had said overall revenue collections were expected to remain robust this fiscal, while additional outgo under some programmes or heads could be significantly offset by savings in others and reprioritisation of expenditures. The Centre's fiscal deficit in the first seven months of this fiscal hit 45% of the full-year target, a tad lower from 45.6% a year before, indicating that the deficit was under control. The government had budgeted total expenditure at ₹45 lakh crore for 2023-24, while its tax and non-tax revenue was pegged at ₹26.3 lakh crore. The net outgo under the first batch of supplementary demands for grants in 2023-24 is way below the level a year before, when the government had sought clearance for a net spending of ₹3.26 lakh crore and gross expenditure of ₹4.36 lakh crore. However, this was because the 2022-23 budget calculations went haywire after the Ukraine war broke out unexpectedly, leading to elevated global commodity prices that inflated the government's subsidy bill. The latest supplementary demands include a total of 79 grants and four appropriations.

By Lucia Mutikani

WASHINGTON (Reuters) — U.S. President Joe Biden will announce $175 million in additional Ukraine aid during remarks at 12 p.m. ET (1700 GMT) on Wednesday, a U.S. official said, while urging Congress to pass his national security funding request.

The federal government will propose to require drug and alcohol testing for employees of foreign aircraft-repair shops outside the United States

Investing.com — U.S. private payrolls growth unexpectedly slowed in November, in a sign that the Federal Reserve's aggressive campaign of interest rate hikes could be impacting labor demand.

MUMBAI : Online fantasy sports company Dream11 on Wednesday withdrew from the Bombay High Court its petition challenging notices related to alleged tax evasion amounting to Rs1,200 crore. Appearing on behalf of the Maharashtra government, advocate Jyoti Chavan informed a bench led by Justices GS Kulkarni and Jitendra Jain that the state goods and services tax (GST) authority had withdrawn its show cause notice on Dream11 since Central GST authorities were pursuing the matter before the Supreme Court. Chavan added that the Directorate General of GST (DGGST) would send a fresh show cause notice, which led to Dream11 withdrawing its petition.

trade deficit widened more than expected in October as exports declined, likely positioning trade to be a drag on economic growth in the fourth quarter. The trade deficit increased 5.1% to $64.3 billion, the Commerce Department's Census Bureau said on Wednesday. Data for September was revised to show the trade gap rising to $61.2 billion instead of $61.5 billion as previously reported. Economists polled by Reuters had forecast the trade deficit increasing to $64.2 billion in October. Exports of goods and services fell 1.0% to $258.8 billion. Goods exports decreased 1.8% to $173.5 billion.

₹1.29 trillion for FY24. In the first batch of supplementary demand for grants, the government sought approval to spend a net ₹583.78 billion in the current fiscal, which involves a cash outgo.

PM Kisan Scheme beneficiaries must complete e-KYC and link their bank account to Aadhaar to directly receive benefits in their bank accounts. It was noticed in a question put to the government in the Lok Sabha that nearly 2.4 lakh farmers enrolled under the PM Kisan scheme are not getting the benefits of this scheme because they are unable to link their Aadhaar Card with Bank Accounts. PM Kisan 16th installment: When will beneficiaries receive next installment amount? As per the government’s reply: Under PM-KISAN, the condition of Aadhaar seeded bank account is mandatory from 13th instalment to ensure that benefits are transferred only to intended beneficiary’s bank account. Further, transferring the benefits in the Aadhaar seeded bank accounts of beneficiaries has inherent advantage in their favor as in case of change of bank accounts, beneficiaries are not required to travel back to the Department to update the same. In order to saturate the Aadhaar seeding of the bank accounts, the beneficiaries are contacted by the State/UT Governments for completing their Aadhaar seeding with their active bank accounts. The Central Government also sends one to one messages to such farmers for taking necessary actions so that benefits can be transferred to them without any hassle.

Amid delay in the launch of the battery swapping policy Union minister for road transport and highways Nitin Gadkari on Tuesday said that NITI Aayog is talking to all stakeholders on the draft policy to ensure that it is prudent and does not impact technological innovation. In a written reply to a question in the Rajya Sabha, the minister said that electric vehicle battery ecosystem is a complex domain involving variety of technologies which are still evolving.