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<keyword id="19983534" type="General" weightage="100" keywordseo="Hero-MotoCorp" source="keywords" meta.keywordsubtype="org" meta.entityname="Hero MotoCorp" meta.hostid="83" meta.entityid="Hero MotoCorp">Hero MotoCorp</keyword> on Sunday said it has received a <keyword id="19901479" type="General" weightage="20" keywordseo="demand-notice" source="keywords">demand notice</keyword> of over Rs 17 crore from <keyword id="22828708" type="General" weightage="20" keywordseo="Delhi-GST-authorities" source="keywords">Delhi GST authorities</keyword>. The company has received an order for disallowance of <keyword id="19980589" type="General" weightage="20" keywordseo="input-tax-credit" source="keywords">input tax credit</keyword> for FY 2019-20 from the Office of the <keyword id="20263022" type="General" weightage="20" keywordseo="gst-officer" source="keywords">GST Officer</keyword>, <keyword id="22830157" type="General" weightage="20" keywordseo="Government-of-NCT-of-Delhi" source="keywords" meta.keywordsubtype="org" meta.entityname="Government of NCT of Delhi" meta.hostid="83" meta.entityid="Government of NCT of Delhi">Government of NCT of Delhi</keyword>, the two-wheeler major said in a <keyword id="19954258" type="General" weightage="20" keywordseo="regulatory-filing" source="keywords">regulatory filing</keyword>. The company said the tax demand is for Rs 9,38,66,513, interest Rs 7,32,15,880 and penalty Rs 93,86,651 as per the notice. Based on the company's assessment, the tax demand is not maintainable in law, it added. The input tax credit disallowed by the office of the GST Officer, New Delhi, was rightfully claimed by the company as per the provisions of the GST law but disallowed on account of the supplier's non-compliance, which is not attributable to the company, <keyword id="7029" type="General" weightage="20" keywordseo="Hero" source="Orion">Hero</keyword> MotoCorp said. Accordingly, the company shall take appropriate steps, including filing an appeal, it added. There is no material impact on financials, operations or other activities of the company, Hero MotoCorp said.

Hero MotoCorp gets over Rs 17 crore tax notice from Delhi GST authorities

Capital markets regulator SEBI sent notices last week to four entities asking them to pay Rs 4.56 crore within 15 days in <keyword id="46994" type="General" weightage="100" keywordseo="fortis-healthcare" source="Orion">Fortis Healthcare</keyword>'s case of fund diversion and misrepresentations to conceal the fraud. In addition, the regulator warned of attachment of assets and accounts if they fail to make the payment within the stipulated time. The four entities that received notices are -- Fortis Global Healthcare, RHC Finance, <keyword id="6984621" type="General" weightage="50" keywordseo="shimal-healthcare" source="Orion">Shimal Healthcare</keyword> and ANR Securities. The demand notices came after the entities failed to pay the fine imposed on them by the <keyword id="6355630" type="General" weightage="50" keywordseo="securities-and-exchange-board-of-india" source="Orion">Securities and Exchange Board of India</keyword> (SEBI) in May 2020. In four fresh notices dated June 9, SEBI directed them to pay Rs 4.56 crore, which includes interest and recovery cost, within 15 days. In the event of non-payment of dues, the regulator will recover the amount by attaching and selling their moveable and immovable properties. Besides, they will face attachment of their bank accounts. Also, the regulator takes the route of arrest and detention in prison to recover the amount. In May 2022, SEBI imposed penalties totalling Rs 38.75 crore on 32 entities, including these four entities in the case related to the diversion of funds of <keyword id="161042" type="General" weightage="50" keywordseo="fortis-healthcare-ltd" source="Orion">Fortis Healthcare Ltd</keyword> (<keyword id="5209318" type="General" weightage="80" keywordseo="fhl" source="Orion">FHL</keyword>) and misrepresentations to conceal the fraud. It levied a fine of Rs 1 crore each on the four entities. The matter goes back to 2018 when a media report came out that the promoters of the listed FHL had allegedly taken massive funds out of the listed company. It also pointed out that Deloitte Haskins &amp; Sells LLP, the statutory auditor of FHL, had refused to sign on the company's second-quarter results until the funds were accounted for. Subsequently, the regulator initiated an investigation into the matter to examine possible violations of the provisions of the PFUTP (Prohibition of Fraudulent and Unfair Trade Practices). In its probe, SEBI found that a systematic scheme of fraud was devised by the erstwhile promoters of FHL to funnel the resources of a listed company behind the facade of investment through Inter-Corporate Deposits (ICDs) or short-term loans to various intermediate entities for the benefit of RHC Holding, an entity which was indirectly owned and directly controlled by the erstwhile promoters. The funds aggregating to Rs 397 crore were diverted from FHL to RHC Holding, through a wholly-owned subsidiary of FHL -- Fortis Hospitals Ltd. The funds were allegedly routed through a network of entities. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/61-of-young-adults-in-india-likely-to-smoke-e-cigarettes-in-the-future-most-believe-they-are-non-addictive-study/articleshow/100989858.cms">61% of young adults in India likely to smoke e-cigarettes in the future, most believe they are non-addictive: study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/here-are-nifty-50s-top-gainers-in-the-last-six-months/slidelist/100990324.cms">Here are Nifty 50’s top gainers in the last six months</a>

SEBI issues demand notices to 4 entities in Fortis Healthcare fund diversion case

New Delhi, Jan 2 () Gujarat Narmada Valley Fertilizers and Chemicals (GNVFC) has received a demand notice from the telecom department for payment of outstanding dues worth Rs 15,019 crore by January 23, 2020.
 The dues pertain to financial years from 2005-06 to 2018-19 in connection with VSAT and ISP licences held by the company, it said. The outstanding includes interest amount as well.
 The company said it is seeking expert legal advice in the matter to decide future course of action.
 "The company is presently examining the said demand notice and judgement of the Supreme Court by seeking expert legal advice in the matter," GNVFC said in a BSE filing.
 Based on the legal advice, the company will decide the future course of actions on the issue, it added.
 The fertiliser firm informed that it has "received a demand notice from the Office of Controller of Communication Accounts, DoT, Ministry of Communications, Government of India, Gujarat Telecom Circle, Ahmedabad...directing the company to deposit the total outstanding amount of Rs 15019,97,48,444 (inclusive of interest amount) before January 23, 2020, in respect of financial years from 2005-06 to 2018-19 in connection with VSAT &amp; ISP Licenses held by the company".
 The Department of Telecommunications (DoT) has also sought Rs 1.72 lakh crore in past statutory dues from state-owned gas utility GAIL India following the Supreme Court's AGR (Adjusted Gross Revenue) ruling in October.
 The DoT had sent a letter to GAIL seeking Rs 1,72,655 crore in dues on IP-1 and IP-2 licences as well as Internet Service Provider (ISP) licence. In response, GAIL has told the DoT that it owes nothing more than what it has already paid to the government.
 Besides GAIL, the DoT is also seeking Rs 1.25 lakh crore from PowerGrid which had both a national long-distance as well as an internet licence. PowerGrid says it has an AGR of Rs 3,566 crore since 2006-07 and after adding penalty it comes to Rs 22,168 crore.
 After sending out notices to firms such as GAIL, the DoT has said any relief to non-telecom companies from payment of enhanced levies can come only from the Supreme Court.
 The DoT is currently "examining" the replies given by the state-owned non-telecom firms on the AGR dues, a senior official had recently told .
 Bharti Airtel, Vodafone Idea and other telecom companies owe the government nearly Rs 1.47 lakh crore in past statutory dues.
 These AGR liabilities arose after the apex court in October last year upheld the government's position on including revenue from non-telecommunication businesses for calculating the annual AGR of telecom companies, a share of which is paid as licence and spectrum fees to the exchequer.
 The apex court allowed three months to the affected companies to cough up the amounts due to the government.
 The DoT has meanwhile made it clear that the AGR order will apply to all licencees, including companies such as GAIL, RailTel, and PowerGrid.
 As things stand today, such players, despite a smaller telecom exposure, may have to pay liabilities computed on their entire revenue.
 Non-telcos, such as ISPs, had argued that the DoT has unnecessarily imposed the order on ISPs, many of which are run by entrepreneurs in smaller cities and towns. MBI MJH MBI ANU
ANU

AGR woes: Telecom dept slaps Rs 15,019 cr demand notice on GNVFC

New Delhi, Mar 12 () The telecom department will carry out reassessments on the basis of documents submitted by telcos on self-assessment of AGR dues as per licence agreement, and issue revised demand notices, Parliament was informed on Thursday.Telecom Service Providers (TSPs) have been directed to make payments on the basis of self assessment and submit requisite documents for compliance, Minister of State for Communications Sanjay Dhotre said in a written reply to the Rajya Sabha."Following this, Department of Telecom (DoT) will carry out reassessments on the basis of documents submitted by TSPs in accordance with the licence agreement and issue revised demand notices," he said.Dhotre was replying to a question on whether DoT is yet to work out final figures of Adjusted Gross Revenue (AGR) liabilities towards the service providers due to variation detected in accounting practices, and steps that the government has taken to rework the dues.To another question on whether the government is considering to work on relief package for TSPs and if a Committee of Secretaries has been constituted in this regard, the minister said, "no such proposal is under consideration by the government."On another AGR-related query, Dhotre said after the Supreme Court judgment of October 24, 2019, the dues were crystallised and telcos have made some payments (totalling Rs 25,901 crore). DoT has also directed the operators to make remaining payments through letters on 13.11.2019, 20.01.2020, 14.02.2020 and 04.03.2020, he said.Communications Minister Ravi Shankar Prasad, replying to a question on industry's demand to raise telecom tariffs, said a few major private TSPs have represented to the government regarding the financial stress in the telecom sector."They have also represented to the Telecom Regulatory Authority of India (TRAI). The tariff regulation is under the purview of TRAI. Presently, the fixing of tariffs is under forbearance and TSPs decide their respective tariffs," he said.Prasad further said besides the telcos, Cellular Operators' Association of India has sought the intervention of the telecom regulator regarding the measures to increase revenue of the telecom sector. TRAI has issued a consultation paper on 'Tariff issues of Telecom Services' on December 2019. MBI MBI ANUANU

DoT to do reassessment based on AGR docs given by telcos; issue revised demand notices

As tensions in Kashmir escalate, the Opposition Congress is making a move on the central government’s actions. According to ANI, Congress MPs — Adhir Ranjan Chowdhury, K Suresh, <keyword id="119952" type="PERSON" weightage="20" keywordseo="Manish-Tewari">Manish Tewari</keyword>, Ghulam Nabi Azad, Anand Sharma, Ambika Soni, and Bhubaneswar Kalita — have given adjournment motion notice over the Kashmir issue. What is an adjournment notice? An adjournment motion notice is given when a government policy is strongly disagreed. This will draw the attention of the government and criticise its decision in an urgent matter before it’s too late, <a href="http://www.prsindia.org/administrator/uploads/general/1408616558_Primer%20on%20Parliamentary%20Procedures.pdf">according to PRS Legislative</a>. If the adjournment motion is accepted, the House adjourns after voting. The adoption of an adjournment motion is seen as a strong disagreement with government policy, although there is no compulsion on the government to resign. Notice of an adjournment motion is required to be given before 10 am on the day on which the motion is proposed. Kashmir issue Since Friday, Kashmir has been on a high alert. The Indian government had cleared the state of <a href="https://www.businessinsider.in/the-india-pakistan-border-in-kashmir-is-simmering-again-thousands-of-amarnath-pilgrims-have-been-sent-back/articleshow/70500904.cms">Amarnath Yatra pilgrims</a> and students citing a terror threat. This was followed by surprising political moves like placing former <keyword id="17605" type="LOCATION" weightage="20" keywordseo="Jammu-and-kashmir">Jammu and Kashmir</keyword> chief minister <keyword id="19464" type="PERSON" weightage="20" keywordseo="Omar-Abdullah">Omar Abdullah</keyword> and <keyword id="6375812" type="PERSON" weightage="20" keywordseo="mehbooba-mufti">Mehbooba Mufti</keyword> under house arrest. Then came the communication censorship as Internet and mobile services were suspended in several areas. The government imposed Section 144 from midnight on Monday, where more than four people are not allowed to assemble. The notice aside, the Union Home Minister <keyword id="6355521" type="PERSON" weightage="20" keywordseo="amit-shah">Amit Shah</keyword> will make an announcement on their plans for Kashmir in the Parliament shortly at around 11 am. There is heavy speculation that the government is all set to scrap Section 35A in the Himalayan state. The section disallows non-permanent residents to settle down, acquire property to avail of scholarships.

What is an adjournment notice that the Congress is demanding from Modi on J&K

New Delhi, May 8 () Chemical maker BASF India Ltd on Friday said it has received a demand notice of Rs 85.19 crore from Karnataka's tax department for the fiscal year 2013-14. In a regulatory filing, the company said it had earlier received demand notices from Commercial Tax Department, Karnataka for the periods 2006-2010, 2010-13, 2014-15 and 2015-16 as it treated the stock transfers of the company's Mangalore plant as interstate sales to dealers. Subsequently, the company got a stay for the periods 2006-2010, 2010-11 and 2014-15 by the Karnataka Appellate Tribunal, it added. "The company has now received demand notice for the further period i.e. 2013-14 from the Commercial Tax Department, Karnataka aggregating to Rs. 85.19 crores (including interest &amp; penalty) by treating the stock transfers of its Mangalore Plant as interstate sales to dealers," the filing said. BASF India said the company is in the process of filing its detailed reply/appeals in response to the notice. The company, based on the legal assessment, does not consider these stock transfers as interstate sales and is taking all the necessary legal steps to defend the matter, the filing said. MJH ABMABM

BASF India receives Rs 85-cr demand notice from K'taka tax dept for FY14

New Delhi, Jul 9 () Chemicals maker BASF India Ltd on Thursday said it has received a tax demand notice of Rs 46 crore from the Karnataka government. The company said that it had earlier got demand notices from the Commercial Tax Department, Karnataka, aggregating to Rs 620.93 crore (including interest and penalty) for the periods 2006-2007 to 2014-2015 by treating the stock transfers of the company's Mangalore plant as interstate sales to dealers. BASF also said that it got a stay order from Karnataka Appellate Tribunal on recovery of demand for the periods 2006-2007 to 2010-2011 and 2014-2015. "The Company has now received a demand notice for the further period i.e. 2015-2016 from Commercial Tax Department, Karnataka, aggregating to Rs 46.01 crore (including interest and penalty) by treating the stock transfers of its Mangalore Plant as interstate sales to dealers," BASF India said in a regulatory filing. The company is in the process of filing its detailed reply/submission/appeals in response to the demand notice, it added. "The company, based on the legal assessment, does not consider these stock transfers as interstate sales and is taking all the necessary legal steps to defend the matter," the filing said. MJH MR

BASF India gets Rs 46 cr tax notice from Karnataka govt

There is a bad news for <keyword id="6354716" type="CITY" weightage="100" keywordseo="Nokia">Nokia</keyword> India. <a href="http://www.businessinsider.in/searchresult.cms?query=Income+Tax+department+">Income Tax department</a> has slapped fresh tax notice on the firm, which wants the fresh demand to be included in the ongoing negotiations between India and Finland to resolve the Rs 2,000-crore tax dispute which was imposed earlier. 
 
According to a senior <a href="http://www.businessinsider.in/searchresult.cms?query=Finance+Ministry+">Finance Ministry</a> official, the fresh <a href="http://www.businessinsider.in/searchresult.cms?query=Finance+Ministry+">tax demands notice</a> was served to Nokia India for dispute relating to other assessment years, apart from the one being contested currently in ITAT. 
 
However, there is no information about the demand raised or the action that the IT department has proposed. 
 
In 2003, the department had slapped a tax notice of Rs 2,000 crore on Nokia's Indian subsidiary for violating the withholding tax norms since 2006 while making royalty payments to the parent company in Finland. 
 
Nokia's mobile unit has now been sold off to <a href="http://www.businessinsider.in/searchresult.cms?query=Microsoft">Microsoft</a>, but the Chennai factory, which is involved in the tax dispute was not included in the deal. 
 
The company wants the notices to be included in the ongoing discussions under the Mutual Agreement Procedure (MAP), said the official, adding senior officials from India and Finland would meet soon to decide on the course of action. 
 
After being asked about the notice served to the <a href="http://www.businessinsider.in/searchresult.cms?query=telecom+company">telecom company</a>, it said: "Nokia has indeed received a claim from the tax authorities - it is largely about the same dispute as earlier, so we have nothing to add." 
 The government has been emphasising on early resolution of pending <keyword id="411664" type="UNKNOWN" weightage="60" keywordseo="tax-disputes">tax disputes</keyword> with a view to make the tax regime more predictable and investor friendly. 
 
Meanwhile, MAP is an alternative available to taxpayers for resolving disputes involving double taxation. However, there is no time frame for resolving cases under MAP negotiations. 
 
(Image: Indiatimes)

Nokia India in trouble again! Income Tax department slaps fresh tax notice against it

<ul class="summary-list"><li><a href="https://www.businessinsider.com/category/american-airlines">American Airlines</a> said on Wednesday that it will warn 25,000 frontline workers of impending layoffs or furloughs, including 9,950 flight attendants and 2,500 pilots.</li><li>The airline said it had hoped travel demand would recover by the time <a href="https://www.businessinsider.com/category/cares-act">CARES Act</a> funding ends on October 1. <keyword id="88011" type="COMPANY" weightage="60" keywordseo="american-airlines">American Airlines</keyword> said it no longer expects that.</li><li>American previously <a href="https://www.businessinsider.com/american-airlines-flight-attendants-leaked-memo-coronavirus-2020-7">issued layoff notices to support and management workers</a>.</li></ul>American <keyword id="44023" type="ORGANIZATION" weightage="60" keywordseo="airlines">Airlines</keyword> said on Wednesday that it will warn 25,000 frontline employees of possible furloughs and layoffs, nearly 20% of the company's workforce of 130,000.Although travel demand had begun a modest rebound, airline CEO Doug Parker and president Robert Isom said in a letter to employees that demand has begun to slow down again as <keyword id="8763838" type="UNKNOWN" weightage="60" keywordseo="covid-19">COVID-19</keyword> infections have spiked in numerous US states."From the time the <keyword id="9073299" type="UNKNOWN" weightage="60" keywordseo="cares-act">CARES Act</keyword> was signed in March, we had a stated goal of avoiding furloughs because we believed demand for air travel would steadily rebound by Oct. 1 as the impact of COVID-19 dissipated," Parker and Isom wrote in the letter. "That unfortunately has not been the case."The affected employees will receive Worker Adjustment and Retraining Notification Act notices, or WARN notices, this week. American Airlines <a href="https://www.businessinsider.com/american-airlines-flight-attendants-leaked-memo-coronavirus-2020-7">began informing management and support employees of furloughs</a> in late June.Not every employee who receives a WARN notice will ultimately be furloughed. American said in the letter that it has 20,000 too many employees, and hopes to reduce the number of eventual furloughs by offering buyouts, early retirements, and extended leave options.The affected frontline employees constitute 2,500 pilots and 9,950 flight attendants — more than the 7,000 to 8,000 that <a href="https://www.businessinsider.com/american-airlines-flight-attendants-leaked-memo-coronavirus-2020-7">the airline had previously said could be laid off</a>. About 3,200 maintenance workers, 4,500 fleet service employees, 2,900 passenger service agents, and 1,000 reservations specialists will also be included. Flight attendants are the largest affected work group, with 37% of workers receiving notices.The overall number was smaller than at United, <a href="https://www.businessinsider.com/united-airlines-warn-furloughs-layoffs-coronavirus-2020-7">which is issuing the notices to nearly 40% of its workforce</a>.Airlines like American have <a href="https://www.businessinsider.com/american-airlines-united-airlines-workers-leave-separations-memo-2020-6">tried to limit involuntary layoffs by reducing their headcounts through voluntary measures</a> like buyouts, voluntary leave, and early retirement. On Wednesday, American announced new offerings, including one aimed at more junior employees which allows for a continuation of subsidized medical benefits for up to 18 months, according to an internal document seen by Business Insider.While airlines are prohibited from furloughing or laying off workers until October 1 under the terms of the payroll support they received from the CARES Act, most employers are required to give 60 days of notice when possible under the WARN Act.The airline said that not every worker who received a WARN notice would be impacted and that the final number would depend on how many more employees take voluntary leave and buyout packages, as well as whether demand makes an unexpected recovery by next month.Workers who are ultimately furloughed could end up being recalled once travel demand improves. However, the airline has said it does not expect a full recovery until there is an effective vaccine or treatment for the novel <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword>.

American Airlines is notifying 25,000 workers of possible layoffs — almost 20% of the company

The <keyword id="19994390" type="General" weightage="20" keywordseo="GST-Council" source="keywords">GST Council</keyword> on Saturday decided to tweak <keyword id="20452955" type="General" weightage="20" keywordseo="tax-rates" source="keywords">tax rates</keyword> on items, including accommodation services for students and solar cookers, and took a host of taxpayer-friendly measures including waiver of interest and penalty for demand notices issued in the first three years of <keyword id="6354679" type="General" weightage="100" keywordseo="GST" source="Orion">GST</keyword> rollout. Briefing reporters after the 53rd <keyword id="3680839" type="General" weightage="20" keywordseo="GST-Council-meeting" source="Orion">GST Council meeting</keyword>, Finance Minister <keyword id="129243" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="Orion">Nirmala Sitharaman</keyword> said the Council has recommended to roll-out the biometric-based <keyword id="20433416" type="General" weightage="20" keywordseo="Aadhaar-authentication" source="keywords">Aadhaar authentication</keyword> of registration applicants on pan-India basis in a phased manner. This will help check fraudulent registration done to avail input tax credit and evade taxes. To reduce litigation, the Council decided to fix a monetary limit for tax officers to file appeals before the GST Appellate Tribunal, the High Court and the Supreme Court at Rs 20 lakh, Rs 1 crore and Rs 2 crore, respectively. It also recommended reduction of the quantum of pre-deposit required to be paid by taxpayers for filing of appeals under Goods and Services Tax (GST). The maximum amount of pre-deposit for filing appeal with the appellate authority has been reduced from Rs 25 crore CGST and SGST each to Rs 20 crores CGST and SGST each. This will help ease cash flow and working capital blockage for the taxpayers. "The 53rd GST Council meeting has taken a number of decisions on trade facilitation, easing compliance burden and giving relief to taxpayers in terms of easing compliance," Sitharaman said. The Minister said the next meeting of the GST Council will be held in August in which the Group of Ministers (GoM) on GST rate rationalisation under Bihar Deputy Chief Minister Sumant Chaudhary, will give a presentation on the status of the work and aspects covered by the panel and work pending before the panel. "What was decided in the Council is, when we meet in the next GST Council meeting we will start a discussion on rate rationalisation... There will be a presentation by the GoM irrespective of whether the report is draft... and then Council will start the discussion on rate rationalisation in the next meeting in August," Sitharaman said. The GST Council on Saturday recommended to exempt Accommodation Services of up to Rs 20,000 per person per month from GST. This is subject to the condition that these services are supplied for a minimum continuous period of 90 days. "It's primarily meant for students," Sitharaman said. In a taxpayer friendly move, the Council has decided to waive interest and penalties for demand notices issued under Section 73 of the CGST Act (for cases not involving fraud, suppression or wilful misstatement) for the fiscal years 2017-18, 2018-19 and 2019-20, if the full tax demanded is paid by March 31, 2025. GST, which subsumed 17 local taxes and cesses, was rolled out on July 1, 2017. With its introduction, prices of various products and services used by masses have moderated. As per the CBIC data, mobile phones and many household items including TV, refrigerator, washing machine and AC have become cheaper post GST. It has reduced burden on household income and improved affordability. The Council also decided to refer the standing committee's recommendation to exempt GST on fertiliser and cut rates on raw materials to the GoM on rate rationalisation. Currently, GST is levied at 5 per cent on fertilisers, while its raw materials like sulphuric acid and ammonia face 18 per cent tax. Also the Tax Collected at Source (TCS) rate for e-commerce suppliers has been cut from present 1 per cent to 0.5 per cent, which will ease the financial burden on the suppliers making supplies through E-commerce platform. Besides, services provided by Indian Railways to the general public, namely, sale of platform tickets, facility of retiring rooms/waiting rooms, cloak room services and battery-operated car services as well as intra-railway transactions would be exempt from GST. GST Council has prescribed a uniform rate of 12 per cent on all milk cans meaning steel, iron, aluminum which are irrespective of the use. The Council also recommended a uniform GST rate of 12 per cent on all carton boxes and cases of both corrugated and non-corrugated paper or paper board, which in particular, help the apple growers of Himachal Pradesh and Jammu &amp; Kashmir. All types of Sprinklers, including fire water sprinklers, will attract 12 per cent GST. Solar Cookers, whether it has a single or dual energy source, too will attract a 12 per cent tax. The Council also decided that GST anti-profiteering provisions will have a sunset date of April 1, 2025. Current cases and investigations with regard to profiteering complaints will be handled by the Principal bench of GST Appellate Tribunal (GSTAT), instead of the Competition Commission of India (CCI). Also, the time limit to avail input tax credit w.r.t. any invoice or debit note through any GSTR 3B return filed up to November 30, 2021 for FY 2017-18, 2018-19, 2019-20 and 2020-21, has been fixed at November 30, 2021. Sitharaman said less than two per cent of the total 58.62 lakh taxpayers under Central GST administration has been sent tax notices and the intention of the government is to make GST assessees life easier by reducing compliance requirements. "I want to reassure the assessees that our intent is to make GST assessees life easier, we are working towards less and less compliance. On behalf of the CGST, notices are not being sent left, right and centre. Only 1.96 per cent of all active tax assessees have been sent notices from Central GST," Sitharaman said.

GST Council tweaks tax rates; Waives interest, penalty on tax dues for first 3 years of rollout

<ul class="summary-list"><li><a href="https://www.businessinsider.com/category/united-airlines">United Airlines</a> said on Wednesday that it would issue layoff and furlough notices to 36,000 frontline employees, including 15,000 flight attendants and 2,250 pilots.</li><li>The airline said that it saw travel demand slowly climb through May and June but that new <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> outbreaks and quarantine orders caused it to collapse again.</li><li>The airline said it expected to fly at about 40% of its capacity in August and not more than that through at least 2020.</li><li>Are you an employee at <keyword id="55113" type="ORGANIZATION" weightage="60" keywordseo="United">United</keyword> or another airline? Contact this reporter with your thoughts or tips at <a href="mailto:dslotnick@businessinsider.com">dslotnick@businessinsider.com</a>.</li></ul><keyword id="137254" type="COMPANY" weightage="60" keywordseo="United-Airlines">United Airlines</keyword> said on Wednesday that it would warn 36,000 frontline employees of potential furloughs and layoffs, representing about 38% of the company's workforce of 95,000.Travel demand had begun to recover since April, when coronavirus lockdowns drove demand down as much as 97%, but the airline said demand fell again in recent weeks as virus cases spiked in several states.The affected employees will receive Worker Adjustment and Retraining Notification Act notices, or WARN notices, this week, with a final notice about their status in early August. American <keyword id="44023" type="ORGANIZATION" weightage="60" keywordseo="airlines">Airlines</keyword> <a href="https://www.businessinsider.com/american-airlines-flight-attendants-leaked-memo-coronavirus-2020-7">began informing some employees of furloughs</a> in late June.The affected frontline employees constitute 15,000 flight attendants, 2,250 pilots, 11,000 customer-service and gate agents, 800 catering workers, 1,000 contact-center employees, 225 network-operations workers, 5,500 maintenance workers. An additional 1,400 management and administrative employees could also be affected.Airlines like United have <a href="https://www.businessinsider.com/american-airlines-united-airlines-workers-leave-separations-memo-2020-6">tried to limit involuntary layoffs by reducing their headcounts through voluntary measures</a> like buyouts, voluntary leave, and early retirement.While airlines are prohibited from furloughing or laying off workers until October 1 under the terms of the payroll support they received from the <keyword id="9073299" type="UNKNOWN" weightage="60" keywordseo="cares-act">CARES Act</keyword>, most employers are required to give 60 days of notice when possible under the WARN Act.The airline said that not every worker who received a WARN notice would be impacted and that the final number would depend on how many more employees take voluntary leave and buyout packages, as well as whether demand makes an unexpected recovery by next month.Workers who are ultimately furloughed could end up being recalled once travel demand improves. However, the airline has said it does not expect a full recovery until there is an effective vaccine or treatment for the novel coronavirus.United said that new bookings began to slide almost as soon as New York, New Jersey, and Connecticut said last month that they would require people coming from certain states with high <keyword id="8763838" type="UNKNOWN" weightage="60" keywordseo="covid-19">COVID-19</keyword> cases to quarantine for 14 days. Specifically, it said, reservations for near-term travel within the next 30 days plummeted after steadily rebounding for months.In a media briefing on Tuesday, a senior executive for the airline said that the drop in travel demand coincided with quarantine orders imposed by some states as coronavirus cases spiked in others.The fall was most severe at the airline's New York City hub in Newark, New Jersey, where near-term net bookings were just 16% of the previous year's level, down from about a third shortly before the tristate quarantine order was announced.The airline said it expected to see a similar drop in demand at its Chicago hub following the implementation of a quarantine order in the city this week.In a <a href="https://ir.united.com/financial-performance/sec-filings">filing with the Securities and Exchange Commission this week</a>, United said it expected demand to recover slowly and inconsistently through the pandemic.United "does not expect the recovery from COVID-19 to follow a linear path, as illustrated by recent booking and demand trends," the filing said."Consolidated capacity through the end of 2020 is expected to be generally consistent with August 2020," it continued, indicating that the airline does not expect a material improvement in demand until at least 2021."COVID-19 is an unprecedented threat to aviation workers and the entire US aviation industry," Sara Nelson, the president of the Association of Flight Attendants, said in a statement. "This crisis dwarfs all others in aviation history and there's no end in sight. Demand was just barely climbing back to 20 percent of last year and even those minimal gains evaporated over the last week due to surging COVID-19 cases across the country."In the SEC filing, United said it expected capacity to fall by 65% in August compared with 2019. The airline <a href="https://www.businessinsider.com/united-airlines-adds-flights-for-august-despite-coronavirus-2020-6">estimated last week that the drop would be 60%</a>, but it said it made adjustments "resulting from reduced demand to destinations experiencing increases in COVID-19 cases and/or new quarantine requirements or other restrictions on travel."As demand for air travel has slowly picked up from lows in April, airlines have said most of that demand has come from leisure and "VFR" travelers — those visiting friends and relatives — as some states lift restrictions and Americans seek to shake off cabin fever after months in quarantine.Corporate travel, which yields higher margins for airlines, has not meaningfully returned.Though the airline was somewhat optimistic that corporate travel could begin to return, with some companies lifting business-travel restrictions, the new outbreaks and associated quarantines have effectively negated those hopes, the senior executive said.Are you an employee at United or another airline? Contact this reporter with your thoughts or tips at <a href="mailto:dslotnick@businessinsider.com">dslotnick@businessinsider.com</a>.

United Airlines will warn 36,000 workers of possible layoffs — more than a third of its entire workforce

After <a href="http://www.businessinsider.in/Tax-demand-against-Vodafone-and-Cairn-Energy-remains-valid/articleshow/51213121.cms">Vodafone</a> Group, UK’s <a href="http://www.businessinsider.in/searchresult.cms?query=cairn+energy">Cairn Energy</a> plc was slapped with a tax demand notice of more than Rs 29,000 crore, including Rs 18,800 crore in back dated interest. 
 This move comes at a time when the Indian government said it will not raise any fresh tax demand using <keyword id="996979" type="UNKNOWN" weightage="20" keywordseo="retrospective-tax">retrospective tax</keyword> legislation. 
 
The notice was however issued before <a href="http://www.businessinsider.in/searchresult.cms?query=arun+jaitley">Finance Minister Arun Jaitley</a> in his Budget for 2016-17 made a one-time offer to waive interest and penalty if the companies paid the principal amount to settle the retrospective tax disputes. 
 "The assessment order is in the amount of Rs 10,247 crore (approximately USD 1.6 billion) plus interest back dated to 2007 totalling Rs 18,800 crore (approximately USD 2.8 billion)," <keyword id="128650" type="COMPANY" weightage="20" keywordseo="Cairn-Energy">Cairn Energy</keyword> said announcing its earnings. 
 
I-T Department alleges that Cairn Energy made a capital gain of Rs 24,503.50 crore in 2006 when it transferred shares of Indian assets that were held in a subsidiary set up in the tax haven of Jersey, to newly incorporated Cairn India. 
 
It listed Cairn India Ltd on the stock exchanges through an initial public offering (IPO) thereafter. Through the IPO it raised Rs 8,616 crore and then in 2011 went on to sell majority stake in Cairn India to mining giant Vedanta Group for USD 8.67 billion.

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