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E-bill launch, e way bill generation, mmtax

E-Bill processing system, announced in Union Budget 2022-23, to be launched on 2nd March 2022.

46th Civil Accounts Day to be celebrated on 2nd March 2022

The 46th Civil Accounts Day will be celebrated on 2nd March 2022 at Dr. Ambedkar International Centre, Janpath, New Delhi. Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman will be the Chief Guest. Finance Secretary Dr. T.V. Somanathan, and Smt. Sonali Singh, Head of the Organisation will grace the occasion along with other dignitaries.

Finance Minister Smt. Sitharaman will launch a major e-governance initiative - the Electronic Bill (e-Bill) processing system as part of ease of doing business and Digital India eco-system. A Budget 2022-23 announcement, the e- Bill system will be implemented across all Central Ministries and Departments. This will be a further step to enhance transparency, efficiency and faceless- paperless payment system. Suppliers and contractors will now be able to submit their claim online which will be trackable in real time basis.

The day-long programme will have two technical sessions – a keynote address by Shri Amitabh Kant, CEO, NITI Aayog on “Reforms in Public Financial Management”, and a presentation on “General Guidelines on Procurement and Project Management” by Shri Sanjay Aggarwal, Advisor, Procurement Policy Division, Ministry of Finance.

A short film on the CGA organisation will showcase the citizen centric initiatives of the Civil Accounts Organisation, including the various payment modes initiated in Government, reforms initiated recently and use of latest technology in the development and management of PFMS (Public Financial Management System). The PFMS is a unified IT platform through which the Government Payments including all DBTs, non-tax receipts and accounting functions are performed.

Due to robustness of these systems, the Indian Civil Accounts Organization could play a critical role in keeping the Government transactions seamless even during COVID-19 crisis. A smooth functioning of payment and receipt is necessary to sustain the essential medical services, law and order and to keep the economy stable and growing.

The event will be telecast live on Doordarshan and ANI and the NIC’s Webcast platform (https://webcast.gov.in/finmin/cga).

Press Release

LIC IPO, Last day of linking PAN,

Last day to link PAN, Aadhaar with your policy today for eligibility under reserved quota of LIC IPO.

Today is the last day to link your PAN card and Aadhaar with your Life Insurance Corporation (LIC) policy to become eligible for subscribing to LIC IPO. LIC is all set to kick off its big-ticket initial public offering (IPO) in March.

Policyholders would be deemed ineligible to apply under the reserved quota if they fail to link PAN card and Aadhaar by today.

Here's how to link PAN/Aadhaar number with LIC policy:

  • Logon to the official website
  • Click on the "Link Aadhaar and PAN to policy" tab
  • Read through all the instructions carefully and click “Proceed”
  • Enter the name as mentioned in the Aadhaar, date of birth, gender, and Aadhaar number
  • Enter your email ID, PAN number, mobile number linked to the Aadhaar number and the policy number
  • Enter the Captcha in the respective box
  • Click on the "Get OTP" and enter the OTP received on the UIDAI-registered mobile number

 

A message will reflect on the screen about the successful linking of Pan, Aadhaar and policy. The verification message will be sent through mail or SMS after a few days.

LIC issued approximately 21 million individual policies in FY 2021, accounting for nearly 75 percent of new individual policy issuances. The IPO is offer for sale (OFS) by the Government of India. There is no fresh issue of shares by LIC. The government holds a 100 percent stake or over 632.49 crore shares in LIC. The face value of shares is Rs 10 apiece.

The LIC public issue would be the biggest IPO in the history of the Indian stock market. Once listed, LIC’s market valuation would be comparable to top companies like RIL and TCS. The IPO of LIC is expected by March and the proceeds would be crucial to meet the revised disinvestment target of Rs 78,000 crore in the current fiscal.

Export of Guava Curd Paneer

Export of guavas sees a surge; records growth of 260% since 2013 | Growth of 200% in the export of curd and paneer

The export of guavas from India sees a growth of 260% since 2013. Exports grow from USD 0.58 Million in April-January 2013-14 to USD 2.09 Million in April 2021-22.

India’s export of fresh fruits has also witnessed considerable growth. Fresh Grapes is the largest exported items among all fresh food category. During 2020-21, the export value of Fresh Grapes was USD 314 million. Export of other Fresh Fruits stood at USD 302 million, Fresh Mangoes at USD 36 million and Others (Betel Leaves & Nuts) at USD 19 million. During 2020-21, Fresh grapes and Other Fresh Fruits accounted for 92 per cent in India's total export of Fresh Fruits.

India's major exporting destination of fresh fruits during 2020-21 were Bangladesh (USD126.6 million), Netherland (USD 117.56 million), UAE (USD 100.68 million), UK (USD44.37million), Nepal (USD33.15million), Iran (USD32.54million), Russia (USD32.32million), Saudi Arabia (USD24.79million), Oman (USD22.31million) and Qatar (USD16.58million). Top ten countries accounted for 82 per cent in India's export of fresh fruits in 2020-21.

The export of curd (yogurt) and paneer (Indian cottage cheese) has also seen a tremendous growth of 200% from USD 10 Million in April – January 2013-14 to USD 30 Million in April-January 2021-22.

It may be noted that dairy export is growing at a Compound Annual Growth Rate of 10.5 per cent in the last five years.  In 2021-22(April-November), India exported USD 181.75 million worth of dairy products and in the current financial year, it is set to surpass the previous year’s export value.

India's major exporting destination of dairy products in 2020-21 were UAE (USD39.34 million), Bangladesh (USD24.13 million), U S A (USD22.8 million), Bhutan (USD22.52million), Singapore (USD15.27million), Saudi Arabia (USD11.47million), Malaysia (USD8.67million), Qatar (USD8.49million), Oman(USD7.46million) and Indonesia (USD1.06million).  Top ten countries accounted for more than 61 per cent share in India's dairy export in 2020-21.

Press Release

DGFT Helpdesk, Russia ukarian war

DGFT Helpdesk for Russia-Ukraine related International Trade Issues

In view of the current international situation, Department of Commerce and DGFT have undertaken to monitor the status and related difficulties being faced by stakeholders on Russia/Ukraine trade related issues. Department of Commerce/DGFT has operationalised a Helpdesk to support and seek suitable resolutions to issues related to India’s International Trade in this regard with immediate effect.

 

2. Export-Import community may submit details of their issues on the DGFT website, on which support is required, using the following steps—

i. Navigate to the DGFT Website (https://dgft.gov.in ) -- > Services -- > DGFT Helpdesk Service

ii. ‘Create New Request’ and select the Category as ‘Russia-Ukraine’

Alternatively, you may send your issues directly over email to: dgftedi@nic.in with the subject header: ‘Russia-Ukraine Trade Helpdesk’, or call the Toll-Free No at 1800-111-550.

3. The status may be tracked using the Status tracker under the DGFT Helpdesk Services. Email and SMS would be generated for immediate intimation as and when the status of these tickets are updated. Trade Community is requested to make use of the given Helpdesk facility suitably.

 

4. Further, a weekly meeting with concerned exporters/importers/other trade stakeholders will also be held by DGFT & FT(CIS) division of Department of Commerce every Monday at 03:00 pm IST via Video Conference. Concerned stakeholders may consider joining the said virtual meeting to flag specific issues. The web-link for the proposed Video Conference is as follows-

https://directorategeneralofforeigntrade.my.webex.com/directorategeneralofforeigntrade. my/j.php?MTID=m8aa668976ac27713b881875b9be0d085

Meeting Password: 1234

This issues with the approval of the competent authority.

 

Trade Notice

Narayan Rane inaugarate MSME conclave,

Rs 200 crore MSME Technology Centre to be set up in Sindhudurg district of Maharashtra

Union Minister Narayan Rane inaugurates MSME Conclave aimed at promoting entrepreneurship and trade opportunities in Konkan Region.

“Not just mango and cashew, bamboo also a great source of income” – Narayan Rane Minister inaugurates KONBAC-SFURTI Bamboo Cluster at Kudal

Union Minister for Micro, Small & Medium Enterprises (MSME), Shri Narayan Rane today announced the establishment of MSME-Technology Centre with an outlay of Rs. 200 Crore, in Sindhudurg.   The MSME-Technology Centre will provide the best of technology, incubation as well as advisory support to the industry, especially MSMEs, to enhance their competitiveness and provide skilling services for the employed and unemployed youth of the area to enhance their employability.

The Minister made this announcement at the inauguration of the  two-day MSME Conclave (25 and 26 February) being organized in Sindhudurg by the Ministry of MSME. The Conclave aims to promote entrepreneurship and trade opportunities for MSMEs in the Konkan region by handholding them in use of technology, product development and skilling.

Speaking about the significance of the conclave, the Union Minister said, “such conclaves serve as an important platform for entrepreneurs, policy makers and other key stakeholders to engage in an open dialogue to exchange information, innovative ideas and explore mutual business opportunities.”

“The objective behind this conclave is to make Sindhudurg region – the top most in industrial sector,” said Shri Rane. He pointed out how most of the residents of Sindhudurg had to leave the city in search of job opportunities and to earn a living. He insisted that we have to bring change in the current scenario where income is generated in Sindhudurg and where our future generation can benefit from it.

MSME Ministry has set up nearly 2000+ new manufacturing units in Konkan; huge scope of employment creation in Maharashtra

The Minister lauded the MSME Ministry's initiatives in the Konkan region and said that there is huge scope of employment creation in Maharashtra, particularly in the Konkan region. The Minister added that the government is committed to promote entrepreneurship and employment creation in the region by rigorous implementation of flagship programs like PMEGP (Prime Minister Employment Generation Programme) , SFURTI (Scheme of Fund for Regeneration of Traditional Industries),  Honey Mission and Kumhar Sashaktikaran Yojana for empowerment of potters.

Shri Rane said the Ministry has given a big thrust to entrepreneurship by setting up nearly 2,000+ new manufacturing units in the Konkan region since 2016, resulting in creation of 16,400 direct employment. To support these projects, Ministry has disbursed subsidy amount of Rs 71.65 crore.

The Minister also distributed electric potter wheels, bee boxes and Agarbatti making machines to rural artisans of Ratnagiri and Sindhudurg District and adjoining areas. He also felicitated 25 Khadi artisans and handed over certificates on completion of training. Further, sanction letters were handed over to 10 PMEGP beneficiaries who will take stride towards self-reliance by associating with self-employment activities of Khadi and Village Industries Commission (KVIC).

Presentation on various schemes being implemented by the Ministry was also made by the senior officials of the Ministry during the Conclave, which was attended by entrepreneurs and youth from rural and semi-urban areas.

Additional Secretary & Development Commissioner, MSME, Shri Shailesh Kumar Singh emphasized on the importance and relevance of various schemes like Udyam Registration and Champions Portal for the MSME sector that had a positive impact during the COVID-19 pandemic.

II

MSME Minister inaugurates KONBAC-SFURTI Bamboo Cluster at Kudal

Earlier in the day, the MSME Minister inaugurated the KONBAC SFURTI (Konkan Bamboo and Cane Development Centre - Scheme of Fund for Regeneration of Traditional Industries) bamboo cluster at Kudal. The cluster will support 300 artisans. Ministry of MSME has released Rs 1.45 crore for setting up of the cluster.

Shri Rane threw light on the opportunities available for the locals in the Konkan region saying ““not only mango and cashew but also bamboo should be considered as a source of income,”  He said KONBAC SFURTI cluster has been organized to attract people to the bamboo business and locals should take advantage of it.

Secretary MSME, B.B Swain; Chairman, Khadi and Village Industries Commission, Vinay Kumar Saksena; Chairman-Coir Board, D. Kuppuramu; Director KONBAC Mohan Hodavadekar were present on the occasion.

About KONBAC

KONBAC is an independent non-profit organization which has developed into a self-sustaining institutional ecosystem and has a fully developed facility for designing, prototyping and producing premium bamboo products for Indian and international markets. It has in place mechanisms to link poor bamboo producers to larger lucrative markets and has already emerged as a model that is being emulated elsewhere in India and overseas.

Scheme of Fund for Regeneration of Traditional Industries (SFURTI) is an initiative by Ministry of MSME to promote Cluster development. Khadi and Village Industries Commission (KVIC) is the nodal Agency for promotion of Cluster development for Khadi. The scheme organizes traditional industries and artisans into clusters to make them competitive and provide support for their long term sustainability. It also aims to provide sustained employment for traditional Industry artisans and rural entrepreneurs.

Press Release