Economy
Swachh Bharat cess to realize Rs.10,000 crore annually
The government is poised to raise Rs.10,000 crore revenue annually from levy of the 0.5 percent Swachh Bharat cess (SBC), parliament was told on Tuesday.
 
Though the government did not fix any target for SBC in the current or upcoming fiscal years, revenue is expected to touch Rs.10,000 crore in a full financial year, Minister of State for Finance Jayant Sinha told the Rajya Sabha in a written reply.
 
Introduced on November 15, the SBC is applied on all services falling under purview of service tax, and will be used for Swachh Bharat initiatives.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Jain named new Central Board of Direct Taxes chief
Senior revenue service official A.K. Jain was on Tuesday appointed chairman of the apex tax body, the Central Board of Direct Taxes (CBDT), an official statement said.
 
The Appointments Committee of the cabinet has approved the appointment of Jain as the CBDT chairman, said a department of personnel and training order. 
 
Earlier appointed acting chairman following the retirement of chairperson Anita Kapur on November 30, Jain, a 1978 batch Indian Revenue Services (IRS) officer, will have a tenure of only two months till January 2016, official sources said.
 
Kapur has been appointed adviser on tax reforms in the finance ministry for six months.
 
She will be contributing inputs towards creating better taxpayer services, bringing in an improved direct taxes regime and also help in preparing the union budget for next year, the officials added.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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SC notice on Nestle's plea against retest order
The Supreme Court on Tuesday sought the central government's response on Nestle India's plea challenging the "legality and correctness" of the National Consumer Disputes Redressal Commission (NCDRC) order directing testing of 16 samples of Maggi noodles to ascertain their safety for consumption.
 
A bench of Justice Dipak Misra and Justice Prafulla C. Pant, while issuing notice to the government, which is also on caveat in the matter, said that it would hear the matter on Wednesday as senior counsel L.Nageshwara Rao sought the interim stay of the NCDRC's December 9 order directing the testing of 16 samples.
 
Nestle, in its plea, said that "the commission had directed that out of withdrawn stocks of Maggi noodles in the custody of the Food Safety and Standards Authority of India (of which 100 batch numbers were randomly noted by the local commissioner), 16 samples be sent for testing for presence of lead in any form and monosodium glutamate (MSG), including their quantity in the samples at the Export Inspection Council of India, Chennai".
 
The NCDRC had ordered the testing of the Maggi noodles in the course of the hearing of the central government's class action suit against Nestle India, the manufacturer of the noodles, seeking about Rs.640 crore in damages for alleged unfair trade practices, false labelling and misleading advertisements.
 
Nestle India has assailed the NCDRC order holding that if a laboratory in terms of section 2(1)(a) of the Consumer Protection Act, 1986 is recognised by the central or the state government or has been established under the law and maintained, financed or aided by either of the governments, then it need not necessarily be accredited by the NABL or notified by the Food Safety Standard Authority of India.
 
However, the Bombay High Court by its August 13, 2015, order had held that since the labs which tested Nestle's Maggi noodles were not accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL), their findings could not be relied upon.
 
Initially, Nageshwara Rao said that Nestle India plea challenging the NCDRC order could be taken up on January 13 when the court will hear the central government's challenge to the Bombay High Court order.
 
However, when he sought the interim stay of the NCDRC order, the court said that the matter would to be taken up on Wednesday as it sought the central government's response on Nestle's plea. 
 
Contending that the NCDRC had gravely erred while ordering further testing of the samples, Nestle India has said that the samples from the withdrawn Maggi noodles have already been tested in FSSAI notified and accredited laboratories.
 
It further said that in the past few months it had voluntary, in the consumer interest, "undertaken testing of 3,566 samples of its instant noodles at nine different labs in India and abroad including samples tested at FSSAI notified and NABL accredited labs in India and all test results have shown Maggi noodles compliant".
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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