COMPUTERISED GST ADJUDICATION
The Comptroller and Auditor General (CAG) has recommended end-to-end computerisation of the show cause notices (SCN) and adjudication process for GST regime and a definite time frame for rollout of simplified GST return forms. “The process of issuance of SCN may be computerised with inbuilt controls to ensure correct computation of demand, timely issuance of SCN,” the national auditor recommended in a compliance audit report on indirect taxes for FY 19 and FY 20 tabled in Rajya Sabha.
CAG FLAGS CUSTOMS SLIP-UPS
The Comptroller and Auditor General (CAG) flagged shortcomings in issuance of show cause notices, deficiencies in the process and procedures leading to adjudication and deficiency in monitoring and internal controls, involving money value of Rs 10,649 crore under customs.
CAG ON CO-OP SOCIETIES, BANKS
In a report on co-operative banks and societies, the CAG has recommended that the CBDT may consider instituting the seeding of PAN in databases of Central and State level registering bodies and regulatory authorities, for structured and institutional sharing of information about the assessee.
The interest of employees working for existing passenger trains because of the introduction of private train operators will not be affected, Railway minister Piyush Goyal informed the Parliament on Wednesday.
FDI IN ECOMMERCE
There is no proposal to change in FDI policy for ecommerce, MoS for commerce and industry Som Parkash said. Further, there are allegations regarding deep discounting, predatory pricing, exclusive arrangements.
TRADE WITH PAKISTAN
India desires normal relations with all countries, including Pakistan. Pakistan unilaterally suspended bilateral trade in August 2019. It is for Pakistan to review its unilateral measures on trade, MoS for commerce and industry Hardeep Singh Puri said.
RICE EXPORTS TO BANGLADESH
Reduction of import duty on rice by Bangladesh is likely to result in higher imports and will benefit India, Parliament was told. “Yes, sir,” commerce minister Piyush Goyal said replying to a question whether reduction of import duty will benefit India.
The way forward on Service Exports from India Scheme for FY20 and extension of SEIS for FY 21 is under consideration, Lok Sabha was informed. The rates for eligible services as rendered in FY20 would be notified separately but these have not been notified.
The government said that the Regional Comprehensive Economic Partnership (RCEP) was intended to provide mutually beneficial outcomes for RCEP countries but the structure of RCEP did not adequately address the ambitions and concerns of India’s stakeholders.