Incentives to Food Processing Units
22072014
The Ministry has launched a Centrally Sponsored Scheme of National Mission on Food Processing (NMFP) in 12th Plan (2012-17) through State/UT Governments. The mission has, interalia, one of the schemes namely scheme of Technology Upgradation/ Establishment/ Modernization of Food Processing Industries. Under the above scheme of the mission, all the eligible Small and Medium entrepreneurs interested to set up food processing units are provided financial assistance @25 per cent of the cost of Plant & Machinery and Technical Civil Works, subject to a maximum of Rs. 50 lakh in general areas; 33.33 per cent of the cost of Plant & Machinery and Technical Civil Works, subject to a maximum of Rs. 75 lakh in difficult areas (i.e. Jammu & Kashmir, Himachal Pradesh, Uttarakhand, Andaman & Nicobar Islands and Lakshadweep) and Integrated Tribal Development Project (ITDP) areas; and 50 per cent of the cost of Plant & Machinery and Technical Civil Works, subject to a maximum of Rs.100 lakh for North-Eastern States including Sikkim.
The applications for the above scheme of the mission are received, sanctioned and funds are released by the respective State/UT Governments, for setting up of Food Processing Units in the country.
In addition, Government of India provides various tax incentives to the Food Processing Industries set up by Small and Medium entrepreneurs and their units in the country including Uttar Pradesh.
1. Income Tax:
1.1. Deduction of expenditure: These incentives are allowed for the following businesses for the investment made in the previous year and prior to commencement of its operations:
1.1.1. Businesses allowed 100% deduction:
(a) Setting up and operating a cold chain facility.
(b) Setting up and operating warehousing facility for storage of agricultural produce.
1.1.2. Businesses allowed 150% deduction (provided the taxpayer has commenced its business on or after 01.04.2012):
(a) Bee-keeping and production of honey and bees wax.
(b) Setting up and operating a warehousing facility for storage of sugar.
1.2. Deduction of Tax from profit: This tax incentive is available at the rate of 100% tax exemption for the first 5 years of operations. After 5 years, it is at the rate of 25% of the profits. However, in case of a company, rate of tax is 30% of profits, after 5 years of operations. This benefit is available only for ten years provided that such business had commenced with effect from 01.04.2001. This incentive is provided for new units in the business of processing, preservation & packaging of fruits or vegetables, meat & meat Products, poultry, marine or dairy products. However, in case of business relating to meat, meat products, poultry, marine products or dairy products, the above incentive is available to only those units who have started their production after 01.04.2009.
2. Service Tax:
2.1. Negative list: Service tax is not leviable on items contained in the negative list. These are services including processes carried out at an agricultural farm including tending, pruning, cutting, harvesting, drying, cleaning, trimming, sun drying, fumigating, curing, sorting, grading, cooling or bulk packaging and such operations which do not alter the essential characteristics of agricultural produce but make it only marketable for the primary market.
2.2. Exempted category: Exemption from Service Tax is allowed for following services:
(i) Construction, Erection, Commissioning or installation of original works pertaining to post-harvest storage infrastructure for agricultural produce including Cold storages for such purposes.
(ii) Mechanized Food grain handling system, machinery or equipment for units processing agricultural produce as food stuff excluding alcoholic beverages; and
(iii) Services provided by a goods transport agency by way of transportation of fruits, vegetables, eggs, milk, food grains or pulses in a goods carriage.
(iv) Services of Loading, unloading, packing, storage or warehousing of agricultural produce.
3. Customs Duty:
3.1. Government has provided following Project Import benefits:
(i) Projects for the installation of mechanized food grain handling systems and pallet racking systems in ‘Mandis’ and Warehouses for food grains and sugar;
(ii) Cold storage, cold room (including for farm level pre-cooling) or industrial projects for preservation, storage or processing of agricultural, apiary, horticultural, dairy, poultry, aquatic and marine produce and meat.
Consequently, all goods related to Food Processing, imported as part of the project, irrespective of their tariff classification, would be entitled to uniform assessment at concessional customs duty of 5% plus CVD as applicable.
3.2. Customs duty on Hazelnuts has been reduced from 30% to 10%.
3.3. Customs Duty on De-hulled Oat grains has been reduced from 30% to 15%.
4. Central Excise Duty:
In order to promote food processing industry, the Government has given following concessions in Central Excise Duty from time to time:
4.1. Food Products:
(i) Nil excise duty in milk, milk products (Chapter 4), vegetables (Chapter 7), nuts & fruits, fresh & dried (Chapter 8).
(ii) As against standard excise duty of 12%, Processed Fruits & Vegetables (Chapter 20) carries a merit rate of 2% without CENVAT or 6% with CENVAT.
(iii) Soya Milk Drinks, Flavoured Milk of Animal origin also carry a duty of 2% without CENVAT or 6% with CENVAT.
(iv) Excise duty on “Tapioca Starch manufactured and captively consumed within the factory of their production, in the manufacture of Tapioca Sago (Sabudana)” and excise duty on Tapioca Sago (Sabudana) has been reduced to nil in the Budget 2013-14.
4.2. Food Processing Machineries:
(i) All Refrigeration Machineries and parts used for installation of Cold storage, Cold room or Refrigerated Vehicle, for the preservation, storage , transport or processing of agricultural, apiary, horticultural, dairy, poultry, aquatic and marine produce and meat are exempted from Excise Duty.
(ii) Pasteurising, drying, evaporating, etc. machinery used in Dairy sector is exempted from Excise Duty.
This information was given by the Minister of State for Food Processing Industries Dr. Sanjeev Kumar Balyan in a written reply in the Lok Sabha today.
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Categories : Business, culture
Action plan for Ganga, Yamuna clean-up by this year-end: Govt
22072014
An action plan for the clean-up of the Ganga and Yamuna rivers may be formulated by the end of this year after consultation with stakeholders, the government informed Rajya Sabha on Monday.
In his reply to a question on when the government proposes to formulate an action plan for cleaning the Ganga and Yamuna, Minister of State for Water Resources, Santosh Kumar Gangwar, said that it is expected to be drawn up by December of this year following consultations with stakeholders.
In his reply to a question on when the government proposes to formulate an action plan for cleaning the Ganga and Yamuna, Minister of State for Water Resources, Santosh Kumar Gangwar, said that it is expected to be drawn up by December of this year following consultations with stakeholders.
Since the inception of the National Ganga River Basin Authority (NGRBA), 76 schemes at a total cost of Rs 5,004.19 crore have been sanctioned in 48 towns in the states through which the Ganga passes.
“Against this, Rs 1,229.87 crore has been released by the Centre, including the matching share of the states so far, and a total expenditure of Rs 838.76 crore has been incurred till March 2014 for implementation of the projects,” Gangwar said.
A Memorandum of Agreement for 10 years was signed in 2010 by the Ministry of Environment and Forests and a consortium of seven IITs for preparation of a comprehensive Ganga River Basin Management Plan (GRBMP).
The National Institute of Hydrology, Roorkee, BHU, and various universities and research institutes are also involved in the GRBMP, he added.
“An interim report has been submitted, which is being sent to different ministries, departments and other stakeholders for comments,” the minister further stated.
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Categories : Business, Politics
MH17 flight recorders to Malaysia
22072014
The agreement states that investigators will have uninhibited access to the crash site to begin their investigation.
Prime Minister Najib Razak called for “continued communication in good faith” and hoped that “justice may be done”.
He said: “I wanted to give greater voice to the anger and the greif that I and many felt. But for now we have to work quietly in the service of a greater outcome.”
A truce in the 40 km radius zone around the Malaysian Boeing crash site has been agreed with Donetsk self-defense forces, Ukraine’s Prime Minister Arseny Yatsenyuk said.
RT news reports, West accuses self-defense forces in eastern Ukraine of tampering with evidence at the crash site of Malaysia Airlines Flight MH17, there is yet to surface any evidence that sheds light on the exact events. The Boeing 777-200ER, which was on a scheduled flight from Amsterdam to Kuala Lumpur with 298 passengers and crew, was shot down over Ukraine on 17 July. There were no survivors.
Ukrainian militia have handed over to Malaysian experts the black boxes from the Malaysian Boeing-777 airliner that crashed in east Ukraine on July 17. Malaysian experts arrive in E. Ukraine’s Donetsk to look into MH17 tragedy.The Donetsk People’s Republic’s (DPR) Prime Minister Aleksandr Boroday handed over the black boxes from the Malaysia Airlines Flight MH17 early on Tuesday.
“Here they are, the black boxes,” Boroday told reporters. “According to the memorandum the Malaysian side must pass on the boxes to the experts from the ICAO [International Civil Aviation Organization].”
Both sides signed a document, finalizing the procedure.
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Categories : CSR, Education, Politics
Black money: OECD unveils automatic info exchange framework
22072014
In a major development in the fight against black money, multilateral grouping OECD on Monday unveiled a ‘single global standard’ for automatic exchange of financial account information by various countries including India and Switzerland
The new framework, to be presented before a meeting of G-20 finance ministers in September, would mark a significant forward movement from the current practice of information exchange mostly on the basis of requests and only in the cases of suspected tax evasion or other financial crimes.
The new global standard, which would be common for all countries, would facilitate a “systematic and periodic transmission of bulk taxpayer information by the source country of income to the country of residence of the taxpayer concerning various categories of income or asset information”.
To enable automatic exchange of information on an annual basis, the financial institutions, including banks, brokers and fund houses, would have to mandatorily collect necessary details from their clients and submit the same to their respective regulators.
Paris-based Organisation for Economic Cooperation and Development (OECD) said that such an automatic exchange of information would “help detect cases of non-compliance even where tax administrations have had no previous indications of non-compliance”, besides providing timely information on non-compliance where tax has been evaded.
This assumes significance in case of India, as it has been facing difficulties in getting information on cases of suspected tax evasion from other countries, specially Switzerland, which has been maintaining that such details cannot be shared without specific proof of financial irregularities by the concerned Indian client of Swiss banks.
An initial framework was released by OECD in this regard earlier this year and India became one of the ‘early adopters’ of this global convention.
Later, Switzerland also committed to abide by this framework, while a few more countries have now expressed their interest in adopting the same and these include Mauritius — another country with which India has been working on a revised bilateral treaty due to concerns of money laundering.
Those having already committed to follow this global protocol include the US, the UK, Germany, European Union, Japan, Singapore, China, as also financial centres like Luxembourg, British Virgin Islands, Cayman Islands, Gibraltar, Cyprus, Bermuda, Isle of Man, Greece and Liechtenstein.
However, such an exchange of information would also have a confidentiality clause and safeguards, while countries would need to pass domestic laws as per their respective legal jurisdictions to enable such a cooperation.
The standard, once implemented, would allow governments to obtain detailed account information from their financial institutions and exchange the same automatically with other jurisdictions on an annual basis.
OECD Secretary-General Angel Gurria said the standard “moves us closer to a world in which tax cheats have nowhere left to hide”.
All information exchanged is subject to the confidentiality rules and other safeguards, including provisions that limit the use of that particular information.
“Each competent authority will notify the other competent authority immediately regarding any breach of confidentiality or failure of safeguards and any sanctions and remedial actions consequently imposed,” the grouping said.
The standard has two components — Competent Authority Agreement (CAA) and Common Reporting Standard (CRS).
According to OECD, automatic exchange may help educate taxpayers in their reporting obligations, increase tax revenues and thus “lead to fairness — ensuring that all taxpayers pay their fair share of tax in the right place at the right time”.
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Categories : Business
Typhoon kills 11 in Vietnam; China deaths up to 26
22072014
A typhoon that barrelled into northern Vietnam has killed at least 11 people, while in China the death toll from the strongest storm to strike the country’s south in four decades rose to 26.
Typhoon Rammasun made landfall in Vietnam over the weekend, triggering heavy floods, destroying homes and crops, and blocking roads with landslides.The state-run Vietnam News says at least 11 people died in the storm.
The paper’s website carried photos that showed streets and local markets in the city of Lang Son and elsewhere submerged in water.
Rammasun had earlier battered southern China, killing 26 people and destroying tens of thousands of homes, according to China’s official Xinhua News Agency.
The typhoon wreaked havoc in the northern Philippines last week, leaving 94 people dead.
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Categories : Environment
Today 47, National Flag was adopted
22072014
Today in 1947, Our National Flag was adopted as the official flag by the Constituent Assembly. Jai Hind! pic.twitter.com/TnisILvxey
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Categories : CSR, culture, Education, Politics
>Boletín de Noticias de Nueva Tribuna [22/07/2014]
22072014
Nuevatribuna
To Boletín de Noticias de Nueva Tribuna
Today at 11:41 AM
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Categories : Business
Inauguration of DoPT’s Basic Leadership Skills Module and Learning Resource Centre
22072014
Dr. S. K. Sarkar, Secretary, Department of Personnel and Training (DoPT) inaugurated the rollout of the Basic Leadership Skills (BLS) Module for Central Secretariat Services (CSS) Officers at the Institute of Secretariat Training and Management (ISTM) here today. This was followed by the inauguration of the Learning Resource Center (LRC) by Dr. Sarkar at the Library Building at ISTM. Both these events are in consonance with the Result Framework Document (RFD) 2014-15 of the DoPT.
The BLS module was rolled out at the Lal Bahadur Shastri National Academy of Administration (LBSNAA), Mussoorie last year in the Foundation Course of Civil Services Officers and the Integration of BLS module with the relevant existing training module of ISTM for CSS officers is now being done with an aim to build leadership qualities among CSS officers.
Speaking on the occasion, Dr Sarkar said that the civil servants have to function in a complex and challenging environment today when there are increasing expectations of performance and ability to respond more efficiently and effectively to the needs of the citizens. Keeping this in mind it becomes imperative that all levels of civil service officers be trained in leadership skills to impart their duties effectively and take forward the vision of a citizen centric Government. The BLS rollout at LBSNAA, Mussoorie and ISTM, New Delhi substantiates the focus of DoPT in Leadership Development in Government.
Later inaugurating the LRC, Dr. Sarkar said that the Center has been set up in line with the recommendations of the National Training Policy (NTP) – 2012. LRC’s mandate is to identify and adapt the leading national and international practices in the field of training techniques and technologies and strengthen the Trainers Development Programme (TDP) to develop a cadre of high quality trainers.
Ms. Lise Grande, UN Resident Coordinator remarked that the Learning Resource Center is a great initiative that will help to promote innovative training techniques in central and state training institutions. Congratulating the DOPT on the occasion, Ms. Grande said that better training will contribute to further improve the delivery of public services.
Both the above activities have been supported by UNDP under the ongoing Strengthening Human Resource Management for Civil Services (SHRM) Project.
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Categories : CSR, culture, Education
Quake of M6.9 FIJI REGION
22072014
USGS ENS
To Nksagar_1@yahoo.com
Jul 21 at 9:12 PM
M6.9 – FIJI REGION
| Magnitude | 6.9 |
| Date-Time |
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| Location | 19.780S 178.441W |
| Depth | 616 km |
| Distances |
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Categories : Environment, Politics, Science
Smt. Maneka Gandhi meeting of All India Anganwadi Workers Federation
22072014
Union WCD Minister, Smt. Maneka Sanjay Gandhi meeting the General Secretary of All India Anganwadi Workers Federationpic.twitter.com/qy1jBUMW21
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Categories : Business, CSR, culture, Education
Sizing Up the Nightlife
22072014
All India, 21st July 2014:The nation of Monaco might be small in terms of size, but it is a giant when it comes to glamour. Monaco is the centerpiece for luxury holidaying in Europe. You won’t find another location in Europe that attracts the rich and famous as much as Monte Carlo. Monaco’s every night is filled with glamour and effervescent spirits. A night in Monaco offers such variety that you will need to spend more than one night to fully appreciate it. Every night in Monaco is an exceptional. The coolest bar, clubs on the coast and glitziest locations makes it more attractive.
Monaco has a diverse nighttime entertainment menu. The palatial casinos and glitzy clubs of the famous Monte Carlo area are worthwhile if you are looking for a high glamour factor. Pubs, cafes, and live music clubs are also found in Monaco. These venues give the destination a well-rounded after-dark scene that offers something for everyone, no matter what their taste is.
Let yourself be carried along by the intense excitement of the game in the most beautiful casinos in the world, all within a 200 meter perimeter in Monte-Carlo. Casino de Monte Carlo is the perfect destination for people who want to get a taste of what it’s like to bask in riches. With beautifully gilded ceilings and stunning architecture everywhere you look, this truly is the pinnacle of glamour and grandeur. The casino is a cornerstone of Monaco where the rich come to gamble their fortunes.
A shrine for gambling, poker and partying, Sun Casino is a home to exclusive games, live music and an excellent ambience. Casino La Rascasse with 85 slot machines also offers exciting interactive games for the visitors.
Monaco is a haven for the party animals as nightlife is an important part of the tiny country and it is one of the safest countires in the world. Jimmy’z being a world famous night club, it has witnessed stars from all over the world. No two nights at Jimmy’z are ever the same as the music, the ambiance and visiting celebrities change every day. Another hot spot is the Sass Café which is open till the sunrise. The bar plays live music and is regarded as an “IN” spot for celebrities. NI Box Night Club is designed as a modern and futuristic venue for party in Monaco. The night club has a huge dance floor, VIP area and a vast terrace with one of the best sea views. One can also choose to sip fresh fruit cocktail with their feet in water or settle in the shade of thatched roof at the Alang Bar.Monaco cuisine is synonymous with an eclectic offering which is truly a connoisseur’s delight. Some of the cuisines you can enjoy are Fusion, Italian, Gourmet, Mediterranean, Pizzeria, Traditional French and Exotic. Each cuisine has its own specialty and taste. Where Fusion cuisine is the combination of Mediterranean and tastes of Asia which offers a chance to enjoy new locally inspired tastes with extra foreign touch, Italian cuisine has a special place in the Principality, with a huge choice of pasta, seafood, grilled fish and Milanese escalopes.
A pleasant way to enjoy the evening is to attend the magnificent gala evenings of Monaco in Salle Des Etoiles. The Open Air Cinema is also an ideal way to enjoy the breeze while watching a film. Once can also choose to take an evening stroll in the impressive Monaco Old Town.
The arrival of Buddha Bar in the tiny principality has brought extravagant bar chic to Monaco’s nightlife. It has a location in the heart of the city. This exotically decorated lounge and restaurant is the essence of hip, with Asian fusion food and cutting edge ambient and electronic music complimenting the venue’s Eastern theme.
Monaco is a glamorous place. However, the nightlife is reasonably diverse, with plazas, bars and music venues complimenting the more well-known and glitzy clubs and casinos. The tiny country allows you to spend unforgettable nights, party at a club and dance until dawn, in the chic, fantastic and unique atmosphere. A night in Monaco offers such variety that you will need to spend more than one night to fully appreciate it.
About Monaco:
Monaco is one of the world’s most desirable destinations with over 300 days of sunshine a year and mild temperatures, it celebrates with enthusiasm the arts, culture, sumptuous cuisine, spas, beautiful surroundings, spectacular landscapes and high-adrenaline activities like the Formula One Grand Prix, casino gaming, land and water sports and exciting nightlife.
Monaco is one of the world’s most desirable destinations with over 300 days of sunshine a year and mild temperatures, it celebrates with enthusiasm the arts, culture, sumptuous cuisine, spas, beautiful surroundings, spectacular landscapes and high-adrenaline activities like the Formula One Grand Prix, casino gaming, land and water sports and exciting nightlife.
Tourists will be more than happy enjoying luxurious accommodation, family restaurants and exceptional landscape in Monte Carlo. This charming destination adds that magnificence experience to your holiday which everyone dreams for. The place is gorgeously clean, the hotels are a marvel, the people are beautiful and the food is delicious. There are wonderful restaurants, shops, attractions, coast, nightlife, sports facilities and culture all within walking distance. You can have a fulfilling romantic experience with the world class spas, set in gorgeous surroundings and offering a variety of therapies and treatments from around the world.
For further details please contact:
Monaco Government Tourist Bureau – India
C/o TRAC Representations India Pvt. Ltd
Akanksha Sharma | 011 22312294, 9873812364 | Email: pr@tracrep.com
Monaco Government Tourist Bureau – India
C/o TRAC Representations India Pvt. Ltd
Akanksha Sharma | 011 22312294, 9873812364 | Email: pr@tracrep.com
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Categories : Business, Tourism, Trade, Transport, world News
Secure Enkay Sagar Holdings Pvt Ltd a speaking slot at Middle East Rail
22072014
Jamie, Middle East rail 2015
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