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<ul><li>Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> has announced that section 56(2) will not be applicable for startups registered with DPITT. </li><li>Currently, there are 24,117 <keyword id="7281036" type="UNKNOWN" weightage="20" keywordseo="dpiit">DPIIT</keyword> recognised startups. </li><li>A separate cell will also be established to address the concerns of the community. </li></ul>In another move to boost innovation, Finance Minister Nirmala Sitharaman announced that Section 56(2) will not be applicable for startups registered with Department of Industrial Policy &amp; Promotion (DPITT). The Finance Ministry’s secretary further explained the angel tax decision saying that the section will continue to target shell companies, but it won’t be applied on registered startups Currently, there are 24,117 DPIIT recognised startups. Sitharaman also said that a separate cell will also be established to address the concerns of the community and the separate cell will be housed under Central Board for Direct Taxes. The proceeds raised by Angel Investors is taxed at 30%, and is nicknamed as angel tax. The section 56(2) had become a huge menace for Indian startups who rallied against the government, asking it to do away with the same. The Central Board of Direct Taxes had recently announced relief for startups who were served with notices regarding angel tax. So, even if a DPIIT recognised startup which has not filled Form 2 (declaration by a startup for exemption), it will be exempted from angel tax with approval from a supervisor. During the Union Budget 2019, Sitharaman had also announced a television show for startups alone. This channel will work as a platform for promoting startups, discussing their growth as well as funding and tax planning. This will be run by startups themselves. The Minister had also said that 80 livelihood business incubators and 20 technology business incubators in 2019-2020 to encourage and develop 75,000 social entrepreneurs in India.

No Angel Tax for startups registered with DPIIT, says Finance Minister Nirmala Sitharaman

New Delhi, Dec 26 () The Department for Promotion of Industry and Internal Trade (DPIIT) has taken measures like recognising 11 inspecting authorities to simplify procedure of inspection of boilers to promote ease of doing business, the commerce and industry ministry said on Thursday.
 The department has also permitted self-certification and third party inspection and certification of boilers with state governments.
 "This will benefit a broad spectrum of industries both in the large and small scale sector like power plants, chemical plans, refineries, paper plants, steel mills, sugar mills and other process industries," the ministry said in a statement.
 It said that 11 third-party inspecting authorities have been recognised by the Central Boilers Board (CBB), which is under DPIIT supervision, to work in the country.
 It also said that independent competent persons have been authorised to work in individual capacity under the Boilers Act for in-service inspection of boilers.
 National and regional level boiler workshops are continuously being conducted by the DPIIT through the National Productivity Council to apprise the owners of boilers of the steps that may be taken to optimise the efficiency of boilers and to popularise the measures for energy conservation.
 DPIIT is the responsible for administration of the Boilers Act 1923. Steel makers, foundries, forges, tube and pipe makers and material testing laboratories make use of the competent authorities (to cut down inspection delays) and increased availability of boiler components without sacrificing safety and quality of boilers and its components.
 The Boilers Act was enacted in 1923 to provide for safety of life and property from the danger of explosion of boilers and for achieving uniformity in registration and inspection during operation and maintenance of boilers throughout the country. RR ANS
ANS

DPIIT taking measures to simplify procedure of inspection of boilers

New Delhi, Apr 30 () A control room set up by the DPIIT to monitor issues of trade and industry has resolved as many as 1,739 matters as on April 28, an official statement said on Thursday.The Department for Promotion of Industry and Internal Trade (DPIIT) established the control room on March 26 to monitor the issues of industry and trade, and take up such matters with the concerned state government, district and police authorities as well as other concerned agencies.It monitors the issues in internal trade, manufacturing, delivery and logistics of essential commodities and difficulties faced by various stakeholders during the lockdown to resolve supply chain issues."Out of the total number of 1,962 queries registered till April 28, 1,739 have been resolved/settled. 223 are currently under resolution. Out of 1,962 queries registered, more than 1,000 queries were received from five states/UTs -- Delhi, Maharashtra, Uttar Pradesh, Haryana and Gujarat," the commerce and industry ministry said in a statement.It added that a dedicated team has been put in place to monitor and tracking the disposal of queries and to generate daily reports for information of senior officers in the department.The team also closely tracks the important queries by calling up the affected people and obtains their inputs while taking up the matter with the concerned agency."This also helps in making an assessment about the efficacy of various agencies involved in resolution of issues. This team of professionals helps senior officers to know the impact of their interventions and thus keeps everyone apprised of the status of resolution of grievances," it added.It also said that the queries are being received in the control room through telephone calls as well as email.Any manufacturing, transporter, distributor, wholesaler or e-commerce companies facing ground level difficulties in transportation and distribution of goods or mobilization of resources can inform to the department through a telephone number + 91 11 23062487) and email id controlroom-dpiit@gov.in. The telephone number is functional from 8 AM to 6 PM."The control room has been receiving queries regarding ground level difficulties as well as the procedural and policy issues being faced by the manufacturers, transporters, distributors, wholesalers and e-commerce companies," the statement said.After registering the queries, the DPIIT control room staff forward it to the state level control rooms and the Chief Secretary of the State with the request to initiate necessary action and ensure that the required relief is provided to the querists at the earliest.It added that all the senior officers of the DPIIT have been assigned specific states with which they continuously interact and urge upon the state functionaries to initiate action on pending issues.On March 24, the central government had announced a nationwide lockdown with a view to prevent the spread of COVID-19 virus, while putting in place arrangements for ensuring that supplies of essential goods and services remain available to all citizens. RR BALBAL

Lockdown: DPIIT's control room resolved 1,739 issues of trade, industry so far

New Delhi, Apr 3 () The government has held several meetings with e-commerce players to resolve issues arising due to the lockdown, and now witnessing improvement on them daily, a top government official said on Friday.Secretary in the Deparrment for Promotion of Industry and Internal Trade (DPIIT) Guruprasad Mohapatra said that with lot of follow ups on their issues, relaxations were given to them by the Home Ministry."We had meetings with them, most of their issues are being resolved. E-commerce position is much better now then what was there on day one of lockdown. Everyday you are seeing improvement," he told .E-commerce representatives had shared the problems faced by them in movement of essential goods by delivery boys due to the lockdown amid coronavirus outbeak.Commerce and Industry Minister Piyush Goyal has earlier said they are committed to ensure that essential goods reach people in the most-convenient and safest manner.Traders and e-commerce companies have raised concerns over police beating up delivery boys in various states while they were doing their duty.Home Secretary Ajay Bhalla and the DPIIT Secretary too held detailed meetings with traders and e-commerce firms on the matter.The DPIIT has set up a control room to monitor real time status of transportation and delivery of essential commodities amid the coronavirus lockdown.It is also monitoring difficulties being faced by various stakeholders. RR BAL

Lockdown: Seeing improvement on e-commerce issues, says DPIIT Secy

New Delhi, Apr 3 () The government has held several meetings with e-commerce players to resolve their issues which they have been facing due to the lockdown , and now there is an improvement everyday, a top government official said on Friday.Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Guruprasad Mohapatra said that with lot of follow-ups on their issues, relaxations were given to them by the Home Ministry."We had meetings with them, most of their issues are being resolved. E-commerce position is much better now than what was there on day one of the lockdown. Everyday you are seeing improvement," he told .E-commerce representatives had shared the problems faced by them in movement of essential goods by delivery boys due to the lockdown amid the coronavirus outbreak.Commerce and Industry Minister Piyush Goyal had earlier said the government was committed to ensuring that essential goods reach the people in the most convenient and safest manner.Traders and e-commerce companies have raised concerns over delivery boys being beaten up in various states while they were doing their duty.Home Secretary Ajay Bhalla and the DPIIT Secretary too have held detailed meetings with traders and e-commerce firms on the matter.DPIIT has set up a control room for real-time monitoring of the status of transportation and delivery of essential commodities amid the lockdown in the country.It is also monitoring difficulties being faced by various stakeholders during the lockdown period from March 25 to April 14. RR SHW ANUANU

Issues faced by e-comm players during lockdown being resolved: DPIIT

New Delhi, May 30 () The revenue department and DPIIT are working together to see what more relaxations can be given to startups under direct and indirect tax regime with a view to promote budding entrepreneurs, a top government official said on Saturday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Guruprasad Mohapatra said that they will be submitting a comprehensive vision document for startups to the Cabinet, which has proposed series of steps. Talking about the host of measures on which they are working, he said the DPIIT will be extending more funds this year to startups under the Fund of Funds scheme. It has provided over Rs 1,000 crore last year. "Right now the taxation team of department of revenue and startup India team from DPIIT are working together to see what further relaxations can be given in the direct and the indirect tax regime. We are also trying to provide marketing support to those startups who are into manufacturing by providing them space under the public procurement scheme of the central government," Mohapatra said. He was speaking at Rajasthan STRIDE virtual conclave, which was organised by Secretary in the Department of Science and Technology, Government of Rajasthan Mugdha Sinha. Mohapatra said the key elements of the startup India vision documents include increasing Fund of Funds, seed money scheme, credit guarantee scheme, and making it mandatory for all departments to promote incubators and hand-hold startups. "What we are trying to do is to make things simpler for them. We are now thinking to start a seed money kind of a concept for those startups who come from a ideation stage to a proof of concept stage. "There are some schemes for seed money in some states, and some departments in central government like biotechnology. But, we want to make it a national scheme to bring such support for the startup community," the secretary said. He also said that credit guarantee is a major problem for availing credit for startups, so the department is working on an initiative, which will give some sort of credit guarantee to startups when they approach lending institutions for either working capital or capex requirement. On Intellectual Property Rights (IPRs) front, he said the IP office in Mumbai has given an ambitious contract, which is based on AI (artificial intelligence) to examine duplication of patents and other things. "Work has started on this and I think in another couple of months, you should see significant benefits on AI based IPR solutions, where one can find out which startup has received what patent and whether that startup can be approached for the commercial use of that patent or not," he added. So far over 2,000 startups are recognised by the DPIIT alone as the department has taken several steps to strengthen startup ecosystem like extending income tax benefits, and process simplification. "These are the broadly initiatives that we are working now for startups," Mohapatra said. Moderating the session, Sinha said that convergence among various departments on this sector is the need of the hour. "Rajasthan government is also taking several steps to promote startups and ease of dong business," she said. RR BAL BAL

DPIIT, revenue dept weigh options for more tax relaxations to startups: Official

New Delhi, May 5 () The Department for Promotion of Industry and and Internal Trade (DPIIT) has asked the telecom department and state-owned BSNL to put on hold the tender for setting up 4G network, valued at Rs 9,000 crore, after allegations emerged that the tender favoured foreign companies. The tender was floated by BSNL in March under the new management for setting up 4G network. This was the first tender issued by the telecom PSU after the government announced Rs 68,751 crore relief package for BSNL and MTNL in October 2019. TEPC, the government body for promotion of domestic telecom products, equipment and services, has filed a complaint against BSNL with the Department of Telecom (DoT) and DPIIT alleging that the tender violates norms for procurement and favours foreign companies. "BSNL and MTNL are ignoring Public Procurement (Make in India) Order of the government and tender floated has no provision for compliance of the government order," TEPC alleged. The tender floated by BSNL included the requirement of MTNL. "It was decided that MTNL will use the core network of BSNL for 4G services. MTNL had shared requirements of towers etc with BSNL for purchase. The total tender is valued at around Rs 9,000 crore," a BSNL official said on condition of anonymity. In September 2018, the government came out with rules that had provisions to take action against erring officials found responsible for including restrictive or discriminatory norms against domestic suppliers in bid documents. The Public Procurement (Preference to Make in India) Order 2017 mandates preference for domestic products in all public-funded projects. The Telecom Equipment and Services Export Promotion Council (TEPC) alleged that BSNL bypassed discussion with domestic companies and framed tender norms in collaboration with multinational companies to keep Indian companies out of the bid. "None of the homegrown companies are aware of any consultation by BSNL on technical requirements, without which, the current tender is being construed as having technical specifications prepared in close coordination with MNCs to keep out the Indian companies and to get rid of PMI norms. Taking note of the TEPC allegations, DPIIT has asked the DoT to examine the complaint and take corrective and disciplinary actions against erring officers for putting restrictive conditions against domestic manufacturers "in malafide fashion". "It may also be noted that the subject procurement will not be finalised till the aforesaid grievance is disposed of by the competent authority," a DPIIT letter to DoT, BSNL and TEPC said. DoT on April 28 is learnt to have taken up the matter with BSNL Chairman and Managing Director PK Purwar and asked him to furnish details to the department within 15 days. Queries sent to BSNL were unanswered. PRS ANUANU

DPIIT asks telecom dept, BSNL to hold Rs 9,000 cr worth tender following allegations of anomalies

New Delhi, Dec 25 () The Department for Promotion of Industry and Internal Trade (DPIIT) is expected to soon issue a clarification on the issues raised by certain stakeholders over the government's decision to permit 26 per cent FDI in digital media sector, according to sources.
Certain industry players and experts have stated that the move to cap foreign direct investment (FDI) in digital media sector to 26 per cent throws up questions that need clarifications as some of those who were looking to raise funds could be restricted.
There are mainly two issues -- how the FDI policy of the sector would treat news aggregators and what would happen to those digital media companies where overseas investment is over 26 per cent -- that need clarification.
On these matters, the department is expected to issue clarification soon, a source said.
The DPIIT has already taken views of the Information and Broadcasting Ministry on the issue.
Deloitte India Partner Jehil Thakkar had said that clarity was needed on how to treat cases of television broadcasters that stream news online, but are allowed 49 per cent FDI.
"What happens to those, whether they qualify under 26 per cent or 49 per cent (FDI)? What happens to news websites which are 100 per cent foreign entity?" he said.
Internet and Mobile Association of India too had sought clarification on the issue.
In a representation to the DPIIT, it stated that the decision will have impact on startup ecosystem as continued FDI is critical to enable Indian digital media startups to achieve global scale.
"Several foreign strategic intermediaries have set up their operations in India, as digital media was categorized as 100 per cent FDI under the automatic route. A clarification on the non-applicability of the new FDI measure would be critical for them to continue making massive investments in India," it added. RR BAL

DPIIT to soon issue clarification on 26 pc FDI in digital media sector

New Delhi, Dec 29 () The DPIIT is working actively on the e-commerce as well as new industrial policies, and both are expected to be released by the end of this fiscal, a top official has said.
"I personally feel that both these policies will be ready by this financial year end," Department for Promotion of Industry and Internal Trade Trade (DPIIT) Secretary Guruprasad Mohapatra told .
He said that the department has done several round of stakeholders' meetings on both the policies.
The government in February released a draft national e-commerce policy, proposing setting up a legal and technological framework for restrictions on cross-border data flow and also laid out conditions for businesses regarding collection or processing of sensitive data locally and storing it abroad.
Several foreign e-commerce firms have raised concerns over some points in the draft pertaining to data.
The department has received huge response on the draft and it is examining all the views and comments.
"We are working actively on both the policies," Mohapatra said.
As the draft policy includes several provisions related to data, the department is also looking at the Personal Data Protection Bill approved by the Cabinet earlier this month.
The proposed new industrial policy is aimed at promoting emerging sectors, reducing regulatory hurdles and making India a manufacturing hub.
This will be the third industrial policy after the first in 1956 and the second in 1991. It will replace the industrial policy of 1991 which was prepared in the backdrop of the balance of payment crisis.
The DPIIT had initiated the process of formulation of a new industrial policy in May 2017. The new policy will subsume the National Manufacturing Policy (NMP).
It had also floated a discussion paper on the policy with an aim to create jobs in next two decades, promote foreign technology transfer and attract USD 100 billion foreign direct investment (FDI) annually. RR
BAL

E-commerce, new industrial policies likely to be released this fiscal: DPIIT Secy

New Delhi, Feb 19 () Over 28,000 start-ups are registered with the Department for Promotion of Industry and Internal Trade (DPIIT), Commerce and Industry Minister Piyush Goyal said on Wednesday. These registered start-ups can avail different tax and other benefits being offered by the government. "We have now 28,000 plus start-ups who are registered with DPIIT. I am also told that in the last eight months, seven new unicorns have achieved the USD 1 billion bench mark valuation," he said here at the 'EY Entrepreneur Of The Year' award event. Startup India is the flagship initiative of the government, launched in January 2016, which intends to build a strong ecosystem for the growth of start-ups to drive sustainable economic growth and generate employment opportunities. The Startup India action plan provides tax and other incentives. RR RVK

Over 28,000 start-ups registered with DPIIT: Goyal

<ul><li>The Department for Promotion of Industry and Internal Trade is looking to offer tax sops to startups, according to reports.</li><li>This would include the tax levied on Employee Stock Options.</li></ul>As the date for the Union Budget inches closer, the Department for Promotion of Industry and Internal Trade has held discussions to offer tax sops to startups, according to <a href="https://timesofindia.indiatimes.com/business/india-business/government-plans-fresh-set-of-tax-sops-for-startups-in-budget/articleshow/69818112.cms">reports</a> The government is looking to have simpler regulations for tax levied upon Employee Stock Options (<keyword id="173739" type="PERSON" weightage="20" keywordseo="Esops">ESOPs</keyword>). In the interim budget announced in February, startups had got barely any mention by then acting Finance Minister Piyush Goyal. Entrepreneurs in the country were disappointed with the complete miss on startups by the otherwise startup-pro Modi government. One of the pressing worries of the startup ecosystem in India is the angel tax which the government has looked into. In May, DPIIT secretary Ramesh Abhishek had said that 541 startups had been given exemption from angel tax. In February, the DPIIT had announced that an entity will be considered a startup for a period of 10 years from the date of its incorporation as opposed to the earlier norm of seven years. Similarly, an entity will continue to be recognised as a start-up if its turnover for any of the financial years since incorporation and registration has not exceeded ₹100 crore in place of ₹25 crore earlier. The DPIIT is also looking at getting a definition for “accredited investors” for angel investments. To avail exemption from angel tax, a startup has to be recognised by DPIIT and the numbers there too have shot up. From 16,171 recognised startups in February, today there are 19,167 recognised startups, according to the official data on the Startup India website. See Also: <a href="https://www.businessinsider.in/budget-2019-expectations-tax-rebates-and-incentives-for-angel-investments-in-startups/articleshow/69627899.cms">The government can be an 'angel' if it replaces tax with incentives, explains a startup groomer</a> <a href="https://www.businessinsider.in/angel-tax-startup-definition-changed-exemption-up-to-25-crore/articleshow/68063050.cms">Indian government finally comes to a decision on Angel Tax, changes definition of startups</a>

Budget 2019 may offer tax benefits for startups and simpler norms for ESOPs

New Delhi, Jan 23 () The Department for Promotion of Industry and Internal Trade (DPIIT) has come out with quality control norms for domestic pressure cookers with a view to contain import and production of sub-standard products in the country.
 According to a DPIIT notification, domestic pressure cookers would have to conform to the specified standards and bear the standard mark under a licence from the Bureau of Indian Standards (BIS).
 The item cannot be produced, sold/traded, imported and stocked unless they bear BIS mark.
 The order will come into force with effect from August 1 this year.
 BIS "shall be the certifying and enforcement authority for the goods," according to the notification.
 However, it added that the order -- Domestic Pressure Cooker (Quality Control) Order, 2020 -- shall not apply to goods or articles meant for export purposes.
 The department has also issued quality control norms for certain steel items and cables.
 The move assumes significance as the government is working to formulate technical regulations, which include safety and quality standards, for over 350 products with a view to cut imports of those non-essential items. RR 
RVK

DPIIT releases quality control norms for pressure cooker

New Delhi, Mar 25 () Home Secretary Ajay Bhalla held a detailed meeting on Wednesday with DPIIT, traders and e-commerce firms on smooth supply of essential goods in the country, an official said. The meeting was attended by DPIIT Secretary Guru Prasad Mohpatra and other officials. The meeting assumed significance as concerns were raised over police beating up delivery boys in different states, while they were doing their duty, the official said. Traders' body CAIT, whose representatives attended the deliberations, in a statement said smooth supply of essential commodities across the country is important at the time of the nationwide lockdown. "We have raised various important issues regarding regular movement of at least essential commodities so that the citizens may not suffer in the troubled times. We have also raised the issue of supply of raw materials for production," it said. Safety of essential commodity traders and prevention against any possible harassment was also figured in the meeting, it added. "We have also requested for the transport sector as it is important in maintaining logistical support," it said. Quoting the home secretary and other officials, CAIT said the government is very keen to work closely and cooperate with traders to ensure that there should not be any problem. "The officials have assured that all small glitches and problems being faced by the people will be resolved at the earliest," it added. RR HRS

Home ministry, DPIIT hold meeting with traders, e-tailers on smooth supply of essential goods

New Delhi, Mar 27 () DPIIT on Friday said it is regularly engaging with retailers and e-commerce companies to ensure that the supply chain of essential goods is not disrupted and various facilities continue to function smoothly. Commerce and Industry Minister Piyush Goyal held discussion, through video conference, with stakeholders from e-commerce and logistics industry on Thursday on the issues faced by them due to COVID-19 (coronavirus) lockdown and measures to resolve them. The meeting was attended by representatives of Snapdeal, Shopclues, Flipkart, Grofers, NetMeds, PharmEasy, 1MG Tech, Udaan, Amazon India, Big Basket, Zomato. Large retail operators were represented by Metro Cash &amp; Carry, Walmart, Delihivery, Safexpress, Paytm, and Swiggy, the commerce ministry said in a statement. "As a result of efforts made by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Home affairs has issued standard operating procedure for state government's guidance on how to handle various aspects related to supply of essential goods," it said. Further, the Indian Patents Office has, in view of the lockdown, extended the date for completion of various acts, filing of replies, payment of fees, among others, the statement added. "This will help all those applicants for whom due date for submission of applications for patent, design and trademarks were falling during the lockdown period," it said. RR RVKRVK

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