Thursday, September 7, 2023

India, EU ask WTO dispute settlement body not to adopt ruling on ICT import duties till December 18

The WTO's dispute settlement body (DSB) will meet on September 19 in which it would consider adopting a draft decision shared by India and the European Union (EU). "We consider that the draft DSB decision, if adopted, would facilitate the resolution of the dispute," according to a communication of the World Trade Organisation (WTO).

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Wednesday, September 6, 2023

Govt okays ₹3,760 crore support for battery storage projects



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No customs duty on Masur from US

India had announced it would remove retaliatory duties on certain US products, including masur, during Prime Minister Narendra Modi’s visit to the US in June. Customs duty of 22% on masur of US origin was made zero effective September 6. This will ease the import of masur directly from the US, instead of being routed via Canada.

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Indian agro-chemical industry can grow over 9 per cent notwithstanding Chinese competition: Niti Aayog

Chand also observed that many Western countries are shifting from agrochemicals to biopesticides and the Indian industry needs to pay attention to this aspect. He urged the Agro Chem Federation of India (ACFI) to come out with a document on ease of doing business in agrochemicals. The Niti Aayog member was addressing a panel discussion on the occasion of the sixth annual general meeting of ACFI in the national capital.

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Google reaches tentative settlement with 36 states and DC over alleged app store monopoly

Thirty-six states and the District of Colombia have reached an agreement in principle with Google to settle a lawsuit filed in 2021 over the tech giant's alleged monopolistic control of app distribution for the software that runs most of the world's cellphones.The agreement, cited in a court filing late Tuesday by both sides, is subject to approval by the state attorneys general and the board of directors of Google's parent company, the execution of an agreement and court approval.

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Tuesday, September 5, 2023

6 crore I-T returns processed, 2.5 crore refunds issued



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Money laundering rules: Definition of beneficial owners tightened

​​Even partners who have ownership of less than 10% of the capital or profits of the partnership but exercise control through other means like right to control the management or policy decisions of the partnership firm, will now be considered beneficial owners.

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India's August services activity cools despite rise in new exports biz

India's service sector activity eased in August, despite recording the strongest increase in new export businesses in nine years. However, positive sentiment towards the outlook reached its highest level since January, according to a private survey. The seasonally adjusted S&P Global India Services PMI Business Activity Index recorded an expansion in new business for the 25th consecutive month.

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Will only agree India trade deal approach that works for UK, says Rishi Sunak

Ahead of his first visit to India as UK Prime Minister to attend the G20 World Leaders' Summit in New Delhi later this week, Sunak updated his top team on the ongoing trade talks which have completed 12 rounds of negotiations. The British Indian leader described India as an "indispensable partner" of the UK across all spheres of bilateral cooperation, which he is keen to strengthen further.

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