Category: Breaking News

It seems a golden time for the global tech companies including Google, Facebook and Twitter, appointing grievance officers beneath new information technology(IT) guidelines does not suggest that they have an “everlasting institution” in India.   But when their native workplace performs enterprise features and contributes to the income of a father or mother agency overseas, it could appeal to home taxes stated by two folks within the income division.   Despite having local offices in the country, their entire income does not come under the tax net due to different tax structures under which they operate.…

The Gross Goods and Services Tax collection for the month of June stood at ₹92,849 crore, first fall from ₹1 lakh crore-mark in 8 months, since September 2020.   Of the gross collections, CGST stands at ₹16,424 crore, SGST is ₹ 20,397, IGST is ₹49,079 crore (including ₹25,762 crore collected on import of goods) and Cess is ₹6,949 crore (including ₹809 crore collected on import of goods), the Ministry of Finance said in a statement.   The ministry said in the statement, “During May 2021, most of the States/UTs were under either complete or partial lock down due to…

The I-T department has introduced a provision relating to Tax Deducted at Source (TDS) from July 1, 2021, which would be applicable to businesses with turnover of over Rs 10 crore.   Such businesses while making any payments for purchase of goods exceeding Rs 50 lakh in a financial year to a resident would be required to deduct a 0.1 percent TDS.   However, this provision would not be applicable on share or commodity transactions done through stock exchanges, the Central Board of Direct Taxes (CBDT) has said.   The CBDT has also clarified that only…

The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund), and Morepen Laboratories, one of the leading manufacturers of pharmaceutical products in India, today announced the production of the test batch of the Russian Sputnik V coronavirus vaccine in an exclusive facility in state of Himachal Pradesh (HP).   The first batch will be shipped to the Gamaleya Center for the quality control. RDIF and Morepen Laboratories signed a cooperation agreement in June 2021 and are actively implementing the technology transfer.   Sputnik V was granted an emergency use authorization in India on April 12, 2021. India is the leading production hub for Sputnik V.…

The Digital Communications Commission (DCC), formerly the Telecom Commission, has cleared a provision of using satellite connectivity in telecom networks through VSAT terminal to provide services in remote areas where it is difficult to lay optical fibre network, a senior official said.   Anshu Prakash, Telecom Secretary told PTI that the DCC has also cleared the Request for Proposal for the rollout of BharatNet project for broadband services in villages, in 16 states in public private partnership mode with viability gap funding of ₹19,041 crore.   With a view of ease of doing business, the DCC…

Prime Minister Narendra Modi addressed the #CoWINGlobalConclave on Monday as India offers CoWIN as a digital platform to combat COVID-19, tweeted the National Health Authority. PM Modi said vaccination is the best hope for humanity to emerge successfully from the pandemic. “And right from the beginning, we in India decided to adopt a completely digital approach while planning our vaccination strategy. He said experience shows that no nation can solve a challenge like this in isolation. However, experts, says, the CoWin app doesnot speaks on the vaccination one has taken,…

“ZyCoV-D is India’s second indigenous vaccine for COVID-19 and may be the world’s first DNA-based vaccine approved for COVID-19. Following its approval, it will be the fifth or sixth approved vaccine for COVID-19 in India, as Pfizer is also in discussion with the Indian government for approval.   “ZyCoV-D’s Phase III interim analysis has shown an efficacy of 66.6% and was conducted in over 28,000 subjects, including 1000 subjects in the 12-18 age group. However, the overall efficacy reported in the interim analysis is low compared to other available vaccines,…

Hyderabad-based Dr Reddy’s Laboratory announced the commercial launch of the anti-Covid-19 drug, 2-Deoxy-D-Glucose (2-DG) for hospitalized moderate to severe Covid-19 patients.   The anti-Covid therapeutic application of 2-DG has been jointly developed by the Institute of Nuclear Medicine and Allied Sciences (INMAS), Defence Research and Development Organisation (DRDO), and Dr Reddy’s Laboratories.   The drug will be supplied to both Government and private Covid-19 health facilities across India. “ The drugs initially will be available at hospitals across metros and Tier 1 cities and in later course expand coverage to…

Finance Minister Nirmala Sitharaman announced a series of steps aimed to push credit off-take in priority areas such as health infrastructure and the severely hit tourism sector by providing interest-rate concessions.   The aim is to have a speedy clearance for projects so that the private sector’s efficiency can come in and asset monetisation can be quickly done. The total amount of this package announced today adds up to Rs 6,28,993 crore.   It is a move to expand the scope of the Emergency Credit Line Guarantee Scheme — for…

The Union Health Ministry has warned States that the delta plus variant, which is currently a variant of concern, has increased transmissibility, stronger binding to receptors of lung cells, and potential reduction in monoclonal antibody response.   Directing the States to initiate more focused and stringent measures to contain the virus spread, the Ministry has now also instructed that adequate number of samples from positive persons have to be sent to the designated labs so that clinical epidemiological correlations can be established.   “The Ministry wrote on the communication and has advised…