Today's Hot Stories - April 08, 2013
10 Headlines for Today(1) Rajiv Gandhi was ‘entrepreneur’ for Swedish jet, U.S. cable says
(2) Fernandes ‘sought CIA funding’ during Emergency
(3) WHO discusses bird flu outbreak with China
(4) FD rates will dip from May, IDBI chief says
(5) RCOM to sell arm to Batelco for Rs.6,000 crore
(6) US jobless claims at four-month high, cast shadow over labor market
(7) Sunrisers Hyderabad win in Super Over
(8) Serena rallies to claim 49th WTA title
(9) Golf: Laird earns Masters' spot with Texas
(10) Red meat boosts gut bacteria that raise heart disease risk
5 Stories for Today
(1) No separate trial against Amit Shah in Tulsiram Prajapati murder case: SC
(2) U.K. immigration norms kick in
(3) Auto cos may be in trouble for unfair practices
(4) Foreign investors to Xi Jinping: Cut the red tape
(5) FinMin mulls new intel wing to check service tax evasion
(1) No separate trial against Amit Shah in Tulsiram Prajapati murder case: SC
In a big relief for BJP general secretary Amit Shah, the SC on Monday quashed FIR against him in the Tulsiram Prajapati fake encounter case.
Amit Shah, a close aide of Gujarat chief minister Narendra Modi, who is out on bail after spending three months in jail in the Soharabuddin case, was again facing the threat of being arrested by CBI in the Prajapati murder case in which the agency had filed a separate chargesheet against him.
The apex court criticised the CBI for registering a separate FIR and filing chargesheet in the Tulsiram killing case despite its repeated stand that it was part and parcel of the Sohrabuddin fake encounter case.
The SC directed that the chargesheet in the Tulsiram Prajapati case would now be treated as supplementary chargesheet in the Sohrabuddin fake encounter case.
The apex court said that the CBI can not be allowed to violate its own stand and the order of the apex court accepting that the two encounters were part and parcel of the same conspiracy.
A bench of Justices P Sathasivam and B S Chauhan said the CBI can not be allowed to register multiple FIRs for the same conspiracy to harass accused persons.
Tulsiram was the accomplice of history-sheeter Sohrabuddin Sheikh, who was gunned down in a fake encounter in 2005. Tulsiram was killed in a similar operation in 2006. In both the encounters, the Gujarat and Rajasthan police acted in tandem.
The investigation was handed over to the CBI by the apex court on April 8, 2011.
Source: The Times of India
(2) U.K. immigration norms kick in
This will benefit high-skilled workers and bright students
Immigration rules that would benefit high-skilled foreign workers and “exceptionally bright’’ students came into force on Saturday amid growing pressure from businesses and universities who complained that the current harsh visa regime was hurting them.
The new rules would also make inter-company transfers easier — a long-standing demand of foreign investors, including Indian companies. However, the existing limit on not allowing more than 20,700 foreign workers to come to Britain over the next two years would remain.
“Intra-company transferees (ICT) who are paid more than £152,100 will no longer need to take an English test if they want to extend their leave in the U.K. To simplify the system even more, the government is also reducing the number of documents that need to be shown by ICTs to prove they have worked for the company for more than a year,’’ the Home Office said.
Foreign MBA students graduating from British universities would be allowed to stay on for up to a year after graduating as part of the expanded graduate entrepreneur scheme. Up to 1000 will be able to stay to develop their own business idea or work in a start up after which they can apply to stay as a skilled worker or entrepreneur.
Additionally, the changes would allow PhD students to stay on after their studies for up to a year and work, without having to switch courses.
“These changes expand the existing options for international students to stay and work after their studies. There is no limit on the number who can obtain a Tier 2 visa to stay and work, providing they can get a graduate-level job paying £20,300 [a year] or more,” the Home Office said in a statement.
Immigration Minister Mark Harper said the changes were aimed at attracting the “best and the brightest global talent” to Britain.
"We are building an immigration system which works in the national interest — supporting the U.K. economy by continuing to attract the brightest and the best global talent, at the same time as protecting our public services and taking a robust approach against those who want to come to the U.K. simply to exploit our welfare system," he said.
Source: The Hindu
(3) Auto cos may be in trouble for unfair practices
Competition Commission of India, which is examining whether automobile majors have indulged in any unfair play by selling spares only at authorised showrooms, giving little flexibility to customers, is likely to come up with its verdict in the next few weeks.
"Currently, investigations are underway, no way can we come to a conclusion at this point," said Ashok Chawla, chairman, CCI.
Chawla said the matter would be looked into in detail to ensure consumers are not affected in any way. "However, the matter is nowhere near completion."
If auto majors are found guilty, CCI would decide on the fine, which could be a maximum of 10% of the annual turnover.
Automobile majors refused to comment on the matter.
Source: Hindustan Times
(4) Foreign investors to Xi Jinping: Cut the red tape
Major multinational companies are appealing to Chinese President Xi Jinping to reduce barriers to doing business in China's heavily government-directed economy.
In a rare audience with the head of the Communist Party, executives from Pepsico, Samsung Group, Volvo Group and more than a dozen other companies _ from agri-businesses to finance _ traded handshakes with Xi on Monday while carefully broaching the problems that have bedeviled business success in the world's second largest economy.
They complained about red tape and restrictions on investment that favor Chinese state firms and outright discrimination because of political problems.
Pepsico president Zein Abdalla called for fairer treatment and decried limits on investing in agriculture, which Pepsi wants for its Lays potato chips and Quaker Oats products. He said continued investment by the thousands of American companies would depend on Beijing's pushing ahead with market reforms.
Source: The Economic Times
(5) FinMin mulls new intel wing to check service tax evasion
Concerned over mounting cases of service tax evasion, the Government is mulling to create a separate intelligence unit to check the menace and stop leakage of revenue.
The proposed Directorate of Anti Evasion to check service tax evasion is likely to be set up by the Finance Ministry close on the lines of two other intelligence agencies under it--Directorate General of Revenue Intelligence (DRI) and Directorate General of Central Excise Intelligence (DGCEI), official sources said.
The Central Board of Excise and Customs (CBEC) has detected service tax evasion of Rs 9,800 crore during April-December period of the last fiscal (2012-13) against Rs 5,000-6,000 crore in the same period of 2011-12.
The move to form a new directorate came after rise in the number of services under the service tax ambit, they said.
"The number of services under service tax has increased significantly. There is a need to strengthen anti-evasion activities in service tax to ensure proper compliance from service tax assessees. A separate Directorate of Anti Evasion on the lines of DRI and DGCEI for service tax may serve the purpose," according to an official note by the Ministry.
At present, DGCEI is entrusted with the responsibilities for collecting intelligence and acting against both the central excise and service tax evaders.
Whereas, the DRI is mandated to check customs duty evasion and collection of intelligence about smuggling of contraband goods, narcotics and under-invoicing among others.
Sources said the DGCEI and DRI have been actively catching service tax, excise and customs duty evaders. However, a separate directorate may help in ensuring strict check on service tax evasion, they said. There are more than 100 services including air travel, eating out at restaurants, staying in hotels, clubs or guest houses, renting of immovable property, rent a cab, health and fitness clubs and outdoor catering among others mandated to pay service tax at the rate of 12 per cent.
Revenue Secretary Sumit Bose had early this year given a stern warning to excise, customs and service tax evaders to either pay dues on time or face penal action which could include arrest, prosecution and property attachment.
Following this, government has realised Rs 10,453 crore service tax during February, 44 per cent more than collections in the previous month. About Rs 7,255 crore was collected as service tax in January.
The service tax collection during April-February of financial year 2012-13 was Rs 1.13 lakh crore, while customs duty mop up was Rs 1.5 lakh crore. Indirect tax collections registered 20 per cent growth at Rs 4.17 lakh crore in April-February period of last fiscal, according to government's estimate.
As per the revised estimate, the government aims to collect Rs 4.69 lakh crore from indirect taxes, comprising customs, excise and service tax.
Finance Minister P Chidambaram had also in his budgetary speech for 2013-14 highlighted that only seven lakh out of nearly 17 lakh registered service tax assessees were filing returns.
Sources said the government was taking other measures to check service tax, excise and custom duty evaders and working on measures to strengthen anti-evasion mechanism.
Source: The Indian Express
Disclaimer: All news stories and content sourced from freely available material on the internet. All sources are acknowledged.
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