Monthly Archives: MARCH 2019
Punjab to allow Industry to choose between Net & SGST Net incentives on intra state sale
The Punjab Cabinet on Wednesday approved an amendment to the GST incentives notified under the Industrial and Business Development Policy 2017, to enable industrial units to choose between Net GST incentives or incentivized SGST on intra state sale.
The cabinet, at its meeting chaired by Chief Minister Captain Amarinder Singh, decided that the amendment would allow units which have filed their common application form on the Invest Punjab Business First portal between October 17, 2017 and October 17, 2018 (both days inclusive) would have the one-time option to opt either for Net GST incentives as per department notification issued on 17-10-2018 or incentivized SGST on intra state sale. Such units shall be allowed to exercise this option within 90 days from the date of the notification.
The incentivized SGST to be considered for reimbursement would mean that the eligible unit will be entitled to get reimbursement of SGST amount paid through cash ledger against the output liability of SGST on sale of eligible products. The eligible unit shall first have to utilize all the eligible ITC available in its Credit Ledger maintained on the common portal, including eligible ITC of IGST as provided under section 49 of the Punjab Goods & Services Tax Act, 2017 as may be amended from time to time, before adjusting the SGST amount through Cash Ledger.
It may be recalled that the net SGST formula for incentive announced in the new Industrial Policy 2017 was approved by the Cabinet during its earlier meeting on October 17, 2018. However, feedback and suggestions were received from industry, which wanted a change in net SGST incentive in line with the original notification issued on October 17, 2017. Disclaimer : PunjabToday.in and other platforms of the Punjab Today group strive to include views and opinions from across the entire spectrum, but by no means do we agree with everything we publish. Our efforts and editorial choices consistently underscore our authors' right to the freedom of speech. However, it should be clear to all readers that individual authors are responsible for the information, ideas or opinions in their articles, and very often, these do not reflect the views of PunjabToday.in or other platforms of the group. Punjab Today does not assume any responsibility or liability for the views of authors whose work appears here. _______________________________________________________________
Most shared Punjab Today articles: KYUN KE HUM HAIN HINDUSTANI Three Women of 1984 FROM 1984 TO BARGARI - Hurt & angry, we’ve tried rage, anger. Did we miss karuna? REVISITING 1984 – RIOT AROUND A POLE KARTARPUR SAHIB: A CLARION CALL FOR PEACE IN AN AGE OF CYNICISM If it could happen to Arun Shourie, imagine what could they do to you? Healers & Predators – The Doctor is In, & is very corrupt Amarinder Singh, the coup in the CBI & the ED case: Headline is missing, so please read it between the lines Amarinder, Badals, AAP — Every party in Punjab is now an Akali Dal Welcome to 1947. Happy Independence Day. Would you like to step out? In Pakistan, a donkey pays for democracy – bleeding, its nostrils ripped apart WOOING THE PANTH: Amarinder a little less Congressy, Akali Dal a little more saffron "Captain Amarinder Singh ji” and "Rahul”: Reading Sign Language In A Relationship SARKAR IN MANALI: From Shahkot to Mohali Court, Sara Alam Bigrra Jaye The Comrade In Punjab - Lost, Irrelevant, Asleep, Even Bored! WATERS ROYALTY - The Loot that Rajasthan Committed AMARINDER GOVT's LOVE FOR FARMERS, AND MY DAD's FOR HIS SCOOTER OF SUNNY KID & HORSE SENSE: The Punjab-Punjab Ties
A SAFFRON JOURNEY VIA CANADA TRUDEAU VISIT AND RIGHT-WING MEDIA MACHINE OF NIRMAL SINGH'S EYES Mr. CHIEF MINISTER, PLEASE CALL OFF JANUARY 7 FUNCTION
BAD, BAD WOMAN! MR PRESIDENT, PLEASE TAKE BACK HIS GALLANTRY MEDAL 
_______________________________________________________________
Punjab Today believes in serious, engaging, narrative journalism at a time when mainstream media houses seem to have given up on long-form writing and news television has blurred or altogether erased the lines between news and slapstick entertainment. We at Punjab Today believe that readers such as yourself appreciate cerebral journalism, and would like you to hold us against the best international industry standards. Brickbats are welcome even more than bouquets, though an occasional pat on the back is always encouraging. Good journalism can be a lifeline in these uncertain times worldwide. You can support us in myriad ways. To begin with, by spreading word about us and forwarding this reportage. Stay engaged. — Team PT
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Punjab to focus on breaking the monopolistic trends in the liquor trade
Punjab government has come out with its Excise Policy for 2019-20, with focus on breaking the monopolistic trends in the liquor trade and allotment of liquor vends in small groups, in line with the approach adopted last year.
Under the new policy, approved by the state cabinet led by Chief Minister Captain Amarinder Singh, a target of Rs. 6201 crore has been fixed as against anticipated collection of Rs. 5462 crore fixed for the 2018-19.
Disclosing this here today a spokesperson of the Chief Minister’s Office said that as per the new policy, the number of groups would remain the same at 700 (approx), whereas the group size would increase only to the extent of anticipated increase in the revenue. This will ensure participation of small licensees, and the number of liquor vends will also remain almost the same as during the Excise Policy 2019-20.
The licensees have been allowed to carry forward their unsold quota of liquor of 2018-19 to next year i.e. 2019-20 with a nominal fee.
To control smuggling of liquor from neighbouring states, one additional Battalion comprising one IG/DIG of police with SP rank officers at Divisional level and required number of DSPs, along with 50-60 police staff in each excise district, will be created for the department of Excise and Taxation.
Taking into account the consumption pattern during the year 2018-19, the quota of PML (country liquor) has been increased from 5.78 crore proof litres to 6.36 crore litres i.e. by 10 percent. Similarly, the quota of Indian Made Foreign Liquour (IMFL) has been increased from 2.48 crore proof liters to 2.62 crore proof litre i.e. by 6 percent, and of Beer from 2.57 crore Bulk Litres to 3.00 crore Bulk Litres i.e. by 16 percent.
Till last year, the ex-distillery issue price (EDP) of country liquor was fixed by the Government. For the year 2019-20, the concept of M.R.P. linked EDP has been introduced. With this, market forces will come into play and the distilleries will be able to fix their own rates of their brands.
Bottling fee @ Rs. 1 per litre will be levied, which will generate revenue of approximately Rs. 30 crore. This amount will be allocated by Finance Department for the purpose of alcohol de-addiction.
To open up the wholesale trade, the fixed license fee for grant of wholesale license of IMFL has been reduced from Rs. 50 lacs to Rs. 25 lacs and a variable fee in the form of additional license fee @ Rs. 3 per proof litre on IMFL and Rs. 2 per bulk on Beer has been levied on the sale of liquor by the L-1 licensee.
In another decision, the cabinet also gave its nod for amendment in the clause C of section 31 of the Punjab Excise Act-1914 in the light of the provisions of the Excise Policy for the year 2019-20 as a regulatory/monitoring measure only.
Further, the Cabinet has given approval to levy tax on sale of liquor against licensees L-3, L-3A, L-4, L-4A, L-5, L-5A, L-5B, L-5C and L-12C, issued under the Punjab Excise Act-1914 in the state under a composition scheme. Notably, the proposed composition scheme is optional, therefore amendment in schedule-A and schedule E is necessitated so that VAT @ 13% +10% surcharge is levied on the licensees who do not opt for the composition scheme.
At present VAT @ 13%+10% surcharge is paid by the distilleries at the manufacturing stage and L-1/L-1 Import licenses at the stage of sale. Liquor sold against licenses L-2, L-2A, L-2E, L-3, L-3A, L-4, L-4A, L-5, L-5A, L-5B, L-5C, L-9, L-12A, L-12C, L-13 to the extent of special license fee charged, L-14, L-14A, L-14AA or /and L-14B issued the Punjab Excise Act, 1914 is tax free, provided that VAT has been paid in the State of Punjab.
It has been provided in the Excise Policy 2019-20 that VAT @ 5 paise in a rupee be levied on turnover of licenses L-3, L-3A, L-4, L-4A, L-5, L-5A, L-5B, L-5C and L-12C issued under the Punjab Excise Act, 1914 under the composition scheme. The credit of input tax would not be available to the licensees opting for composition scheme. For licensees who do not opt for composition scheme, VAT @ 13.10%+10% surcharge would be levied and the credit of input tax would be available to them. In light of the above, amendments to the VAT Schedules and notification for composition scheme under Section 8E of Punjab VAT Act, 2005 have been proposed. Disclaimer : PunjabToday.in and other platforms of the Punjab Today group strive to include views and opinions from across the entire spectrum, but by no means do we agree with everything we publish. Our efforts and editorial choices consistently underscore our authors' right to the freedom of speech. However, it should be clear to all readers that individual authors are responsible for the information, ideas or opinions in their articles, and very often, these do not reflect the views of PunjabToday.in or other platforms of the group. Punjab Today does not assume any responsibility or liability for the views of authors whose work appears here. _______________________________________________________________
Most shared Punjab Today articles: KYUN KE HUM HAIN HINDUSTANI Three Women of 1984 FROM 1984 TO BARGARI - Hurt & angry, we’ve tried rage, anger. Did we miss karuna? REVISITING 1984 – RIOT AROUND A POLE KARTARPUR SAHIB: A CLARION CALL FOR PEACE IN AN AGE OF CYNICISM If it could happen to Arun Shourie, imagine what could they do to you? Healers & Predators – The Doctor is In, & is very corrupt Amarinder Singh, the coup in the CBI & the ED case: Headline is missing, so please read it between the lines Amarinder, Badals, AAP — Every party in Punjab is now an Akali Dal Welcome to 1947. Happy Independence Day. Would you like to step out? In Pakistan, a donkey pays for democracy – bleeding, its nostrils ripped apart WOOING THE PANTH: Amarinder a little less Congressy, Akali Dal a little more saffron "Captain Amarinder Singh ji” and "Rahul”: Reading Sign Language In A Relationship SARKAR IN MANALI: From Shahkot to Mohali Court, Sara Alam Bigrra Jaye The Comrade In Punjab - Lost, Irrelevant, Asleep, Even Bored! WATERS ROYALTY - The Loot that Rajasthan Committed AMARINDER GOVT's LOVE FOR FARMERS, AND MY DAD's FOR HIS SCOOTER OF SUNNY KID & HORSE SENSE: The Punjab-Punjab Ties
A SAFFRON JOURNEY VIA CANADA TRUDEAU VISIT AND RIGHT-WING MEDIA MACHINE OF NIRMAL SINGH'S EYES Mr. CHIEF MINISTER, PLEASE CALL OFF JANUARY 7 FUNCTION
BAD, BAD WOMAN! MR PRESIDENT, PLEASE TAKE BACK HIS GALLANTRY MEDAL
_______________________________________________________________
Punjab Today believes in serious, engaging, narrative journalism at a time when mainstream media houses seem to have given up on long-form writing and news television has blurred or altogether erased the lines between news and slapstick entertainment. We at Punjab Today believe that readers such as yourself appreciate cerebral journalism, and would like you to hold us against the best international industry standards. Brickbats are welcome even more than bouquets, though an occasional pat on the back is always encouraging. Good journalism can be a lifeline in these uncertain times worldwide. You can support us in myriad ways. To begin with, by spreading word about us and forwarding this reportage. Stay engaged. — Team PT
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Punjab to provide subsidy of Rs 25 per quintal to sugarcane farmers
Punjab Cabinet led by Chief Minister Captain Amarinder Singh on Saturday gave ex-post facto approval to disburse Rs. 25 per quintal directly in the accounts of sugarcane growers (farmers), out of a total State Agreed Price (SAP) of Rs. 310, with the remaining Rs. 285 per quintal to be paid to them by private sugar mills for crushing year 2018-19.
The move is aimed at ensuring economic viability of the mills and timely cane payment to the farmers for the crushing season 2018-19, and is a follow-up of the decision taken in this regard at a meeting held under the Chairmanship of the Chief Minister on December 5, 2018.
Notably, for the crushing year 2018-19, the Government had decided to start operations of the crushing mills from November 15, 2018. Accordingly, crushing was started by the Cooperative Sugar Mills. However, none of the private sugar mills initiated the process of estimate/survey/bond/crushing in their respective reserve area by the stipulated time, as the owners of these mills wanted to purchase sugarcane at Fair and Remunerative Price (FRP) of Rs. 275 per quintal fixed by the Government of India.
However, the State Government had issued a notification to purchase sugarcane as per State Agreed Price for early, mid and late varieties at Rs. 310, Rs. 300 & Rs. 295 per quintal respectively. Due to the stand taken by the private sugar mills, there was resentment amongst the sugarcane growers who resorted to dharnas across the state. Disclaimer : PunjabToday.in and other platforms of the Punjab Today group strive to include views and opinions from across the entire spectrum, but by no means do we agree with everything we publish. Our efforts and editorial choices consistently underscore our authors' right to the freedom of speech. However, it should be clear to all readers that individual authors are responsible for the information, ideas or opinions in their articles, and very often, these do not reflect the views of PunjabToday.in or other platforms of the group. Punjab Today does not assume any responsibility or liability for the views of authors whose work appears here. _______________________________________________________________
Most shared Punjab Today articles: KYUN KE HUM HAIN HINDUSTANI Three Women of 1984 FROM 1984 TO BARGARI - Hurt & angry, we’ve tried rage, anger. Did we miss karuna? REVISITING 1984 – RIOT AROUND A POLE KARTARPUR SAHIB: A CLARION CALL FOR PEACE IN AN AGE OF CYNICISM If it could happen to Arun Shourie, imagine what could they do to you? Healers & Predators – The Doctor is In, & is very corrupt Amarinder Singh, the coup in the CBI & the ED case: Headline is missing, so please read it between the lines Amarinder, Badals, AAP — Every party in Punjab is now an Akali Dal Welcome to 1947. Happy Independence Day. Would you like to step out? In Pakistan, a donkey pays for democracy – bleeding, its nostrils ripped apart WOOING THE PANTH: Amarinder a little less Congressy, Akali Dal a little more saffron "Captain Amarinder Singh ji” and "Rahul”: Reading Sign Language In A Relationship SARKAR IN MANALI: From Shahkot to Mohali Court, Sara Alam Bigrra Jaye The Comrade In Punjab - Lost, Irrelevant, Asleep, Even Bored! WATERS ROYALTY - The Loot that Rajasthan Committed AMARINDER GOVT's LOVE FOR FARMERS, AND MY DAD's FOR HIS SCOOTER OF SUNNY KID & HORSE SENSE: The Punjab-Punjab Ties
A SAFFRON JOURNEY VIA CANADA TRUDEAU VISIT AND RIGHT-WING MEDIA MACHINE OF NIRMAL SINGH'S EYES Mr. CHIEF MINISTER, PLEASE CALL OFF JANUARY 7 FUNCTION
BAD, BAD WOMAN! MR PRESIDENT, PLEASE TAKE BACK HIS GALLANTRY MEDAL
_______________________________________________________________
Punjab Today believes in serious, engaging, narrative journalism at a time when mainstream media houses seem to have given up on long-form writing and news television has blurred or altogether erased the lines between news and slapstick entertainment. We at Punjab Today believe that readers such as yourself appreciate cerebral journalism, and would like you to hold us against the best international industry standards. Brickbats are welcome even more than bouquets, though an occasional pat on the back is always encouraging. Good journalism can be a lifeline in these uncertain times worldwide. You can support us in myriad ways. To begin with, by spreading word about us and forwarding this reportage. Stay engaged. — Team PT
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Chanda Kochhar, Venugopal Dhoot's Homes Searched by ED
Enforcement Directorate searched the homes and offices of former ICICI Bank chief executive Chanda Kochhar and Videocon managing director Venugopal Dhoot today in a loan case.
 According to a NDTV report, the Central Bureau of Investigation has already issued a look-out circular against Kochhar and has revived ones against her husband Deepak Kochhar and Dhoot. Look-out circulars are notices sent to transit points like airports to restrict the movement of people under investigation by probe agencies.
The case is related to a loan given by ICICI Bank to Videocon when Chanda Kochhar was heading it, and the business ties between Venugopal Dhoot and her husband.
 Dhoot allegedly invested crores of rupees in NuPower Renewables, a company founded by Kochhar's husband, months after Videocon group was granted a loan by ICICI Bank.
It was part of a Rs. 40,000-crore loan which Videocon got from a consortium of 20 banks led by State Bank of India. The Rs. 3,250 crore loan has become a non-performing asset for ICICI Bank.
The CBI is currently examining evidence collected during searches at the homes and offices of the three accused right after a First Information Report (FIR) was filed against them last month.
Taking note of the FIR filed by the CBI, the Enforcement Directorate also filed a case and is looking at money laundering angle.
Kochhar, 56, had quit as CEO and managing director of ICICI Bank in October last year over allegations that she favoured Videocon group in the bank's lending practices.
A whistleblower alleged that the Kochhars and their family members benefited from the dealings reports NDTV.
Kochhar worked at India's third-biggest lender for over three decades, rising through the ranks to become one of the most influential women bankers. She has said she was "utterly disappointed, hurt and shocked." Disclaimer : PunjabToday.in and other platforms of the Punjab Today group strive to include views and opinions from across the entire spectrum, but by no means do we agree with everything we publish. Our efforts and editorial choices consistently underscore our authors' right to the freedom of speech. However, it should be clear to all readers that individual authors are responsible for the information, ideas or opinions in their articles, and very often, these do not reflect the views of PunjabToday.in or other platforms of the group. Punjab Today does not assume any responsibility or liability for the views of authors whose work appears here. _______________________________________________________________
Most shared Punjab Today articles: KYUN KE HUM HAIN HINDUSTANI Three Women of 1984 FROM 1984 TO BARGARI - Hurt & angry, we’ve tried rage, anger. Did we miss karuna? REVISITING 1984 – RIOT AROUND A POLE KARTARPUR SAHIB: A CLARION CALL FOR PEACE IN AN AGE OF CYNICISM If it could happen to Arun Shourie, imagine what could they do to you? Healers & Predators – The Doctor is In, & is very corrupt Amarinder Singh, the coup in the CBI & the ED case: Headline is missing, so please read it between the lines Amarinder, Badals, AAP — Every party in Punjab is now an Akali Dal Welcome to 1947. Happy Independence Day. Would you like to step out? In Pakistan, a donkey pays for democracy – bleeding, its nostrils ripped apart WOOING THE PANTH: Amarinder a little less Congressy, Akali Dal a little more saffron "Captain Amarinder Singh ji” and "Rahul”: Reading Sign Language In A Relationship SARKAR IN MANALI: From Shahkot to Mohali Court, Sara Alam Bigrra Jaye The Comrade In Punjab - Lost, Irrelevant, Asleep, Even Bored! WATERS ROYALTY - The Loot that Rajasthan Committed AMARINDER GOVT's LOVE FOR FARMERS, AND MY DAD's FOR HIS SCOOTER OF SUNNY KID & HORSE SENSE: The Punjab-Punjab Ties
A SAFFRON JOURNEY VIA CANADA TRUDEAU VISIT AND RIGHT-WING MEDIA MACHINE OF NIRMAL SINGH'S EYES Mr. CHIEF MINISTER, PLEASE CALL OFF JANUARY 7 FUNCTION
BAD, BAD WOMAN! MR PRESIDENT, PLEASE TAKE BACK HIS GALLANTRY MEDAL
_______________________________________________________________
Punjab Today believes in serious, engaging, narrative journalism at a time when mainstream media houses seem to have given up on long-form writing and news television has blurred or altogether erased the lines between news and slapstick entertainment. We at Punjab Today believe that readers such as yourself appreciate cerebral journalism, and would like you to hold us against the best international industry standards. Brickbats are welcome even more than bouquets, though an occasional pat on the back is always encouraging. Good journalism can be a lifeline in these uncertain times worldwide. You can support us in myriad ways. To begin with, by spreading word about us and forwarding this reportage. Stay engaged. — Team PT
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