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Corporate News *   CBIC issues draft rules for Customs valuation *  Top Headlines: Threshold for Benami deals, green bond investors, and more *  Govt aims 1-hour clearance for goods at all ports *  Exporters Allowed To Use RoDTEP, RoSCTL Scrips To Pay Customs Duty, Transfer Them; Rules Amended *  Millions of labourers to be affected by brick producers’ strike over hike in GST, coal rates *  Inauguration of ‘kendriya GST parisar’ *  Transporter can seek Release of Conveyance alone, not Goods under GST Act: Madras HC *  GST: Quoting of DIN Mandatory for Responding to Notice, Govt Modifies Portal *  Firms can soon file claims for GST credits of ?400 cr *  CBIC issues modalities for filing transitional credit under GST. *  Mumbai: Man creates 36 fake GST firms, arrested for input tax credit fraud of Rs 23 cr *  Report to restructure Commerce Ministry under study; idea is to set up trade promotion body: Goyal *  Firms can soon file claims for GST credits of ?400 cr *  Gambling Alert! Govt May Levy Up To 28% GST; UP, Bengal Back Move *  EPFO backs raising retirement age to ease pressure on pension funds *  India Moving Up Power Scale, Set to Become Third Largest Economy By 2030 *  Airfares Get Expensive: What Changes for Flyers From Today? *  IRCTC Latest News: Passengers to Pay More For Cancelling Confirmed Rail Tickets Soon. *  IBC prevails over Customs Act, says Supreme Court. *  As GST enters sixth year, a time for evaluation and reassessment *  There’s GST on daily essentials as Centre needs money to buy MLAs: Arvind Kejriwal *  Now, GST on cancellation of confirmed train tickets, hotel bookings *  GST kitty for top States could rise 20% in FY23, says Crisil *  French customs officials seize another cargo vessel over Russia sanctions *  TradeLens builds on Asia momentum with Pakistan Customs deal *  Hike tax on tobacco, reduce affordability & increase revenue: Civil society organizations to GST council *  Bihar: ?10 crore tax evasion on tobacco products detected in raids *  Centre failed on GST, COVID; would it be anti-national? Rajan on Infosys row *  Service Tax not Chargeable on Income Tax TDS portion paid by recipient: CESTAT grants relief to TVS *  Foreign portfolio investors make net investment of Rs 7575cr in Sep so far
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Comments

Continued ban on rat hole mining, liquor sale hit economy hard

The economy of the State was hit hard even in 2016 as the ban on rat-hole coal mining continued coupled with the State Government’s restriction on the sale of liquor.The National Green Tribunal (NGT) is yet to give its final verdict on matters related to lifting the ban on rat-hole mining despite the Government making its varied submissions. The State Government had also approached the Centre over invoking certain provisions in the Sixth Schedule of the Constitution to exempt Meghalaya from the purview of the national mining laws.The revenue loss calculated after the NGT in an interim order on April 17, 2014, imposed a ban on rat-hole mining is roughly over Rs 1,500 crore. Meghalaya was already affected by the ban on limestone by the High Court which, however, was lifted though miners had to submit a mining plan in consultation with the State Government.The closing down of liquor shops in the State from April 1, 2016, after the High Court of Meghalaya upheld an amended order of the Excise Department has also affected the revenue of the State.The most affected was the restaurants of Police Bazar, the commercial hub frequented by tourists and others alike.The annual revenue generated by the State from Excise duty is over Rs150 crore, but the ban on liquor sale reduced the revenue to half in 2016.The amended Rule 183 of the Meghalaya Excise Rules notified on September 23, 2015, which took effect from April 2016, ensured the closure of all liquor shops located within 200 m of places of worship, educational institutions and hospitals. http://www.theshillongtimes.com/
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Query
 
PRADEEP JAIN, F.C.A.

Head Office : -

Address :
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Phone No. :
0291 - 2439496, 0291 - 3258496

Mobile No. :
09314722236

Fax No. :0291 - 2439496


Branch Office : -

Address:
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E-mail :pradeep@capradeepjain.com