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Sunday,
January 6, 2002, Chandigarh, India   
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Sinha
hints at 4.5-5.5 pc GDP growth
Air space
ban to cost AI more
Electrical
arrears
ITDC inks
pact with Northern Rly
Q. We are registered as a dealer under the provisions of the Punjab General Sales Tax Act, 1948, and the Central Sales Tax Act, 1956. Kindly clarify regarding the introduction of surcharge by the Punjab Government under the act. Also, it may be clarified if the liability to pay surcharges falls upon the units availing of the benefit of exemption? We would also like to know the number and date of the notification issued in this context. |
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Start
social reforms, says Amartya Sen IOC,
Reliance begin talks
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Sinha hints at 4.5-5.5 pc GDP growth
New Delhi, January 5 “I have never hazarded a growth figure. But let me tell you, from all projections I have seen, it varies from 4.5-5.5 per cent. So you take your pick out of this,” Sinha told BBC. On the fiscal deficit, he said, “there will be fiscal slippage in this fiscal. We are not doing as well on the revenue front because of the economic slowdown.” Two positive aspects about the economy was the $ 48 billion forex reserves and a meagre 2 per cent inflation rate, Sinha told BBC World’s India Business Report, to be telecast tonight. The government would stress on three things — agriculture reforms, cleaning up the taxation system and creating encouraging environment to the investment climate — in the coming Budget to kickstart the economy, he said. “I want to give a fillip to the economy in the new Budget so that the slowdown we are experiencing is put behind us and we are able to accelerate the growth process. That is the overall objective,” Sinha said. In this context, he said, “I would like to give considerable priority to the agricultural sector, which has lagged behind in the reform process.” The Finance Minister also said, “I would like to clean up the taxation system where some work needs to be done.” “We’ll have to ensure an enabling, an encouraging climate for investment in the industrial sector,” he said. On implementation of value-added tax (VAT) next fiscal, Sinha said “our role is to bring states together, provide them whatever assistance they need and then leave it to them to chart out a course for themselves. We have been able to provide that help.” Satisfied with the progress on VAT, he said, “most of the major states were going ahead with this transition on the April 1, 2002.” Sinha, however, said traders were not adequately educated and there were apprehensions in the mind of the traders and industry about the impact of VAT. “That’s where we need to carry conviction. We are in discussion with the states,” he said. The states will have the liberty to impose additional tax over and above the floor rate. Sinha also assured the states that the Centre would look into any revenue loss incurred by the states while implementing VAT but said “it cannot be a perpetual commitment.” “Ultimately, the states will have to be on their own. So they have to find out how exactly they will structure the whole thing (VAT). An amount of flexibility is necessary in the system,” he said.
PTI
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Electrical arrears Q:
When electricity connections against which arrears are claimed stand in the name of the tenant, can this liability be fastened on landlord who is neither a registered consumer nor actual user of electricity? Ans:
In Shikha Properties Pvt. Ltd. v New Delhi Municipal Committee (2001 (2) RC 384) the Delhi H.C. was answering this question thus: The petitioner states that perforce it had to accept the attornment of Mahrotra as a tenant. In the ultimate event, petitioner filed an eviction petition against the said tenant and finally obtained the physical possession of the premises on 30.5.97. On the said date, the premises in question did not have any electricity connection. Petitioner thereafter, applied for grant of electricity connection. The respondents, in the meantime, served a demand notice on the petitioner for Rs 8,20,084 towards arrears of electricity charges for the period upto October, 97. The electricity supply to the premises in question had been disconnected first on 31.7.95 and finally for the second time on 23.4.97. It is not disputed before the H.C. that the electricity connections, against which arrears are claimed were in the name of the two tenants and they were registered consumers. According to the privity of contract, if any, was between the respondents NDMC and the tenants, i.e. the registered consumers, who were also the actual users of the electricity. In these facts, it is not open to the respondents to fasten the liability of arrears on the petitioner, which was neither the registered consumer nor the actual user of electricity, in the opinion of the H.C. The H.C. observed further that it was supported in this view by the decision of the Bombay H.C. in Fatechand Murlidhar v Maharastra Electricity Board, Nagpur (AIR 1985 Bom. 71). It was pointed out that the respondents NDMC has also filed a suit for recovery of the outstanding amount against the registered users. Vide an interim order, in the present writ petition, the operation of the impugned demand letter was stayed. Vide another order the respondents were directed not to withhold the grant of permanent electricity connection to the petitioner on account of the impugned demand. The H.C. ultimately allowed the present writ petition and the Rule was made absolute. A writ of prohibition shall issue, restraining the respondents from recovering the impugned demand from the petitioner. The electricity connection shall be granted to the petitioner, if otherwise found eligible. |
ITDC inks pact with Northern Rly New
Delhi ITDC’s marketing division — Ashok Reservation and Marketing Services, launched in the new year - will operate this counter and provide all facilities and services to tourists, including hotel booking, train booking, tours and information. The MoU was signed by ITDC Chairman Ashwani Lohani and Chief Commercial Manager (NR), I.J. Malhotra here. A total of 22 hotels, apart from the four already given to the private sector, are to be sold during the next financial year by the ITDC.
PTI Forex reserves rise Mumbai In rupee terms, the forex reserves moved up by Rs 2,463 crore to Rs 2,32,153 crore during the same week from Rs 2,29,690 crore a week ago.
UNI Sahara launches
e-reservation New Delhi Air-India recently introduced ticket reservation for web users, joining the world’s top carriers in providing this facility. In a statement, Sahara said the travellers could book tickets by logging on to www.Airsahara.Net and through credit cards. Passengers can process both reservation and cancellations through the website and also track their frequent flier mileage points. Tickets should be booked 48 hours ahead of the scheduled flight.
UNI
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A. K. Sachdeva Q. We are registered as a dealer under the provisions of the Punjab General Sales Tax Act, 1948, and the Central Sales Tax Act, 1956. Kindly clarify regarding the introduction of surcharge by the Punjab Government under the act. Also, it may be clarified if the liability to pay surcharges falls upon the units availing of the benefit of exemption? We would also like to know the number and date of the notification issued in this context. Anubhav Garg, Ludhiana Ans. It was on November 7, 2001, that the Governor of Punjab promulgated Punjab Ordinance No 8 of 2001 entitled “The Punjab General Sales Tax (Second Amendment) Ordinance, 2001 introducing three new provisions called sub-sections (1-C) and (1-D) to Section 5 and Section 30-AA to the Punjab General Sales Tax Act, 1948. Sub-section (1-C) of Section 5 lays down, inter alia, “there shall be levied and collected on the taxable turnover of a dealer, a surcharge, which shall be calculated at the rate of ten per centum of the tax payable by him under this Act”. It is further provided that while computing tax liability on the goods declared to be of special importance under Section 14 of the Central Sales Tax Act, 1956 (commonly called “declared goods”) considering the rate of tax applicable under the existing provisions and the surcharge shall not, in any event, exceed 4 per cent per centum of the sale price. As far as the incidence to pay surcharge on the units holding exemption certificates in terms of Section 30-A of the Act ibid is concerned, the newly introduced Section 30-AA says “Notwithstanding any exemption granted to any class of industries under Section 30-A of this Act, such industries shall pay the surcharge levied under sub-section (1-C) of Section 5 of the Act, in the manner, as may be prescribed.” It clearly spells out the legislative spirit that the liability to pay surcharge has also been fastened upon the units which otherwise are not liable to pay any tax on the sales of manufactured goods during the currency of the exemption certificate. Since the Ordinance carrying out these amendments has been promulgated on November 07, 2001, the date of coming into effect of the introduction of surcharge naturally would be considered as November 07, 2001. |
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Start social reforms, says Amartya Sen
Kolkata, January 5 Delivering his speech on "Globalisation and its discontents" organised by the Indo-American Chamber of Commerce here, Dr Sen said: "Social reforms should start before economic reforms so that the impact of opening up could be utilised to the fullest potential." Dr Sen said China was a world leader in terms of economic development since the country had started social reforms much before opening up its economy. He said the success of economic reforms in India, which started in 1991, was limited due to various handicaps, among which the major ones were "under-developed social infrastructure and restricted opening up of the economy." A strong advocate of globalisation, Dr Sen said institutional innovation was also required to deal with the present-day problems. "Globalisation on its own offers benefits," Dr Sen said, adding that otherwise, the industrial revolution would not have occurred. He, however, cautioned that the globalisation process should be encountered in its true spirit. PTI
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IOC, Reliance begin talks
New Delhi, January 5 The termination notice, served by IOC last month, is understood to have left the scope open for discussion for resolving vexacious issues that threaten continuance of the largest marketing deal between the biggest PSU and private corporate house from April 1, 2002. Top officials of RPL were understood to have come to Delhi for discussions with a few directors of IOC on Saturday. Sources, however, did not divulge the progress of discussion or resolution of issues. Asked about the future of the marketing agreement in the wake of the termination notice served on RPL, IOC Chairman M.A. Pathan told PTI “IOC and RPL are in discussion... based on final outcome at the discussions, the matter will be dealt with appropriately.”
PTI
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