Golden Butterfly tea fetches record Rs 75,000 a kg
The Guwahati Tea Auction Centre (GTAC) on Tuesday created another international history by selling 1 kg of the "Golden Butterfly" tea at a whopping Rs 75,000.
 
The "Golden Butterfly" is a speciality tea and is produced by the Dikom Tea Estate near Dibrugarh.
 
GTAC Secretary Dinesh Bihani said that the tea was bought by one of the oldest tea shops in Guwahati M/s Assam Tea Traders for their customers. They have bought a lot of speciality tea in the past auctions at record prices.
 
"In the world of tea, this auction centre has created an image of a place where records are meant to be broken and history is meant to be re-written.
 
"The GTAC is giving an opportunity to all the sellers who want to sell their teas at remunerative prices. The best teas are always in good demand and the buyers are always ready to pay a handsome price," Bihani said, adding that the GTAC has become a world recognized tea hub for quality and specialty tea.
 
Tuesday's record broke a previous one of the Maijan Orthodox Golden tea tips that fetched 
Rs 70,501 per kg on July 31.
 
Maijan Orthodox Golden Tea is a hand-rolled and sun dried speciality tea.
 
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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    Centre rolls out FAQs over Legacy Dispute Resolution scheme
    Building a roadmap for the economy, the Centre has taken a firm step to shed off the excess baggage of litigations, a vital factor slowing down growth.
     
    The Centre has rolled out a set of 43 frequently asked questions (FAQs) connected with the 'Sabka Vishwas Scheme' (Legacy Dispute Resolution), 2019, a step largely towards simplifying a scheme directly linked to creating a favourable atmosphere enabling ease of doing business.
     
    The FAQs attempt to sort out innate issues associated with the legacy disputes, answering, for example, who is eligible to file declaration and the list of acts covered under the scheme. 
     
    It has been uploaded on the website of the Central Board of Indirect Taxes and Customs (CBIC).
     
    A majority of questions under FAQs dwell on the eligibility of persons and the nature of dispute resolution falling under Service Tax and Central Excise. 
     
    Persons who are eligible under the scheme will be required to file an electronic declaration at the CBIC portal, and within 60 days of filing of declaration, an electronic response on the final decision taken in the matter, will be communicated to the person concerned.
     
    The scheme focuses on three crucial aspects - optimize resources of the industry, avoid litigation pending for a long period of time, and give an opportunity to taxpayers to settle their matter concerning service tax and central excise. 
     
    The FAQ informs the taxpayer that once the amount is finalized through this scheme, then it is final, and the matter will be closed and also shielded from any other proceeding. 
     
    Therefore, this scheme virtually takes cares of retrospective aspect of taxation, which often worry the taxpayer. 
     
    According to the scheme, any show cause notice (SCN) whether main or periodical, issued and where the final hearing has not taken place on or before June 30, 2019, is eligible under the scheme.
     
    There are various benefits available under the scheme -- total waiver of interest, penalty and fine in all cases, immunity from prosecution, in pending cases a relief of 70 per cent from the duty demand if it is Rs 50 lakh or less and 50 per cent, if it is more than Rs 50 lakh.
     
    The same relief is available for cases under investigation and audit where the duty involved is quantified on or before June 30, 2019.
     
    Taxpayers will get a discharge certificate, which will be issued under Section 127 with respect to the amount payable under the scheme and shall be conclusive as to the matter and time period declared. 
     
    As a result -- (a) the declarant shall not be liable to pay any further duty, interest or penalty with respect to the matter and time period covered in the declaration; (b) the declarant shall not be liable to be prosecuted under the indirect tax enactment with respect to the matter and time period covered in the declaration; and (c) no matter and time period covered by such declaration shall be reopened in any other proceeding under the indirect tax enactment. 
     
    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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    30 killed in Maharashtra floods, 2 lakh evacuated
    At least 30 people have been killed in various flood-related incidents in Maharashtra in the past one week even as more than 2.03 lakh people were evacuated to safer locations, officials said here on Friday.
     
    According to Konkan Divisional Commissioner Deepak Mhaiskar, 12 persons died in Sangli, four in Kolhapur, seven in Satara, six in Pune and one in Solapur in various incidents.
     
    At least four-five persons are still missing from the boat tragedy in Brahmnal village in Sangli where a Gram Panchayat's overloaded rescue boat capsized, drowning 12 persons.
     
    With overnight rains subsiding, the waters have started receding in some parts of the worst-hit areas, giving relief to the residents and rescuers, though the India Meteorological Department (IMD) has issued a red alert in Pune, Sangli, and Kolhapur for heavy rains over the next couple of days.
     
    On Thursday night, another 12 Indian Navy teams left for Sangli by road and are expected to reach there later today to join the rescue efforts.
     
     
    After conducting an aerial survey yesterday, Chief Minister Devendra Fadnavis had said that an estimated 29,000 people still remain marooned in flood waters in these districts.
     
    The floods have had their fallout in urban centres like Mumbai, Thane, Pune and other cities which are now witnessing shortage of milk, fruits and vegetables.
     
    The prices of some daily use items like ginger has shot to more than Rs 325 per kg, coriander for nearly Rs 400/bunch, tomatoes between Rs 70-100/kg and chillies for Rs 300/kg.
     
    The urban centres like Mumbai and Thane (city) are completely dependent on all their supplies from the adjoining districts of Thane, Palghar, Nashik for vegetables and Ahmednagar, Satara, Sangli, Kolhapur for its supplies of fresh fruits and milk.
     
    However, the flow of these items to Mumbai have been erratic in view of the floods, blocks on state and national highways, many interior areas cut-off, creating problems for transporters and the urban consumers alike.
     
     
    Presently, alternative arrangements are being made for milk from Gujarat and vegetable supplies are being augmented from Palghar, Thane and surrounding areas.
     
    At least 30 people have been killed in various flood-related incidents in Maharashtra in the past one week even as more than 2.03 lakh people were evacuated to safer locations, officials said here on Friday.
     
    According to Konkan Divisional Commissioner Deepak Mhaiskar, 12 persons died in Sangli, four in Kolhapur, seven in Satara, six in Pune and one in Solapur in various incidents.
     
    At least four-five persons are still missing from the boat tragedy in Brahmnal village in Sangli where a Gram Panchayat's overloaded rescue boat capsized, drowning 12 persons.
     
    With overnight rains subsiding, the waters have started receding in some parts of the worst-hit areas, giving relief to the residents and rescuers, though the India Meteorological Department (IMD) has issued a red alert in Pune, Sangli, and Kolhapur for heavy rains over the next couple of days.
     
    On Thursday night, another 12 Indian Navy teams left for Sangli by road and are expected to reach there later today to join the rescue efforts.
     
    After conducting an aerial survey yesterday, Chief Minister Devendra Fadnavis had said that an estimated 29,000 people still remain marooned in flood waters in these districts.
     
    The floods have had their fallout in urban centres like Mumbai, Thane, Pune and other cities which are now witnessing shortage of milk, fruits and vegetables.
     
    The prices of some daily use items like ginger has shot to more than Rs 325 per kg, coriander for nearly Rs 400/bunch, tomatoes between Rs 70-100/kg and chillies for Rs 300/kg.
     
    The urban centres like Mumbai and Thane (city) are completely dependent on all their supplies from the adjoining districts of Thane, Palghar, Nashik for vegetables and Ahmednagar, Satara, Sangli, Kolhapur for its supplies of fresh fruits and milk.
     
    However, the flow of these items to Mumbai have been erratic in view of the floods, blocks on state and national highways, many interior areas cut-off, creating problems for transporters and the urban consumers alike.
     
    Presently, alternative arrangements are being made for milk from Gujarat and vegetable supplies are being augmented from Palghar, Thane and surrounding areas.
     
    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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    Naresh Rawal

    2 weeks ago

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