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PG 6_Layout 1 10/19/2018 12:15 AM Page 1

6 GOA, friDAY, OCTOBEr 19, 2018


voice of business
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Oil cos cut petrol, diesel prices
PTI, NEW DELHI: Petrol Rs 82.83 a litre previously. a four-year high of USD
businessday
Parliamentary panel to examine
3? FA B? +3> FA = 67B7@6;@9
*,9?0/ , ,70 %0.0;?4:94>? A@ 7JB7D;7@57 (>E /:3FE BB . A@ and diesel prices Thursday A litre of diesel now costs 86.74 a barrel. functioning of EPFO
*AA?4AK 3@6 /3;F7DE 8AD F:7 :AF7> ;@ were reduced for the first Rs 75.58 as compared to Rs Prior to Thursday's cut in NEW DELHI: A parliamentary panel will examine the
&ADF: (>E 5A@F time in over two months 75.69 previously. rates, diesel price had risen
because of a drop in the In Mumbai, petrol now by Rs 2.74 per litre since
functioning of retirement fund body Employees
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*0 =0<@4=0 8,70 108,70 ,77 =:@9/0= 7JB7D;7@576 D;H7DE 8AD @;9:F 6GF;7E cost of production, accord- costs Rs 88.08 per litre and October 5 to more than Provident Fund Organisation (EPFO), its coverage and
A3@ 5:78E I3;F7DE I;F: =@AI>7697 +F7I3D6E 3DF7@67DE D7E:7DE ?3K ing to state-owned oil firms. diesel Rs 79.24. wipe away the excise duty recovery of arrears. The parliamentary standing
A8 5A5F3;>E %A5F3;>E 8AD D7BGF76 83?;>K 3>EA 3BB>K D77 8AA6 355A?A63F;A@ Petrol price was cut by 21 The price cut follows in- cut and oil firm subsidy. committee on labour has also decided to review the
D7EF3GD3@F 5A@F35F BDAH;676 /3>= ;@ I;F: KAGD D7EG?7 3F paise per litre and diesel by ternational oil prices trad- Petrol price had during this implementation of labour laws, social security and
,;FAQE A88;57 ;@ 393 ;@ 47FI77@ 3? welfare scheme for workers. The panel will be headed
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11 paise, a price notifica- Petrol price was cut by ing near the lowest level period risen by Rs 1.33 a
tion issued by state retail- 21 paise per litre and in a month on a bigger- litre. by BJP MP Kirit Somaiya and has selected a wide range
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;@ 3>3@9GF7 ;D>E >36;7E 53@ 3BB>K ers said. than-expected gain in Before the October 5 of subjects related to labourers, including the
This is the first price cut
diesel by 11 paise, a American stockpiles. West price cut, petrol in Delhi International Labour Organisation conventions binding
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;@ .7D@3 AA6 3@6 355A??A63F;A@ arising from a drop in inter- price notification Texas Intermediate for had hit an all-time high of on India and the measures taken by the government to
(=209?7D =0<@4=0/ 1:= , =0;@?0/ 3H3;>34>7 national oil prices. issued by state November delivery traded Rs 84 per litre and diesel implement them, said a bulletin issued by the Lok
*7EF3GD3@F 3D ;@ (ADHAD;? A3 The rates were reduced retailers said 11 cents lower at USD was at record Rs 75.45. This Sabha secretariat. It will also look into the working
3D?3@ E3>3DK *E FA %0<@4=0/ 1:= , =0>?,@=,9? 49 8,=2,: by a minimum Rs 2.50 per 69.64 a barrel on the New came down to Rs 81.50 per conditions and welfare of mine workers, and review the
EE 3D?3@ E3>3DK *E FA 9AA6 F3@6AAD; 5AA= A@F35F litre across the country on duction in BJP-ruled states York Mercantile Exchange, litre for petrol and Rs 72.95
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working of Directorate General of Mines Safety. Earlier,
October 5, when the gov- was more as they matched while Brent for December in case of diesel. the panel had suggested that the EPFO should act as
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ernment cut excise duty on this cut by an equivalent re- settlement was at USD In Mumbai, petrol had hit the sole regulator for all categories of provident funds
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petrol and diesel by Rs 1.50 duction in local sales tax or 79.89 a barrel on the Lon- a peak of Rs 91.34 hit on particularly private PF trusts. It is convinced that a
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(=209?7D %0<@4=0/ := %0>?,@=,9? 49 /3;F7DE 8AD AF7> *7EF3GD3@F ;@ a litre and asked oil PSUs to VAT. don-based ICE Futures October 4 and diesel was strong regulatory system should be in place for all PF
D3?4A> >> DAG@67D AA=E (3@<;? 3>> subsidise the fuels by an- Petrol in Delhi now costs Europe exchange. Brent sold at a record high of Rs trusts. At present, the EPFO is not the sole PF
7>B7DE /3;F7DE ,3@6AAD; AA= I;F: other Re 1 a litre. The re- Rs 82.62 per litre as against had earlier this month hit 80.10. organisation or regulator in the country. The provident
7JB7D;7@57 A@F35F %0<@4=0/ 08,70 '070.,770= 1:= ,9 fund of private establishments/organisation/PSUs
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largely come under the EPFO purview.
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No threat of discontinuation of mobile
Volkswagen offers more incentives to
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8AA6 3@6 355A?A63F;A@ 8D7E:7D 3>EA FRANKFURT: German automaker Volkswagen says it
3BB>K *,9?0/ ,77 =:@9/0= .::6> >,7,=D PTI, NEW DELHI: The gov- An alternate form for
H 1,847D 49 ,=2,: 4> 7::6492 1:= , is offering more incentives to trade in older diesel
8AD 4735: E:35= ;@ +AGF: A3 ernment Thursday said
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buying new SIMs through models in an effort to improve air quality.
:- 49 :, 1:= 074A0=D :D> =0, EAGE 5:78 FA 5AA= D79G>3D>K 3F F:7 there is no threat of discon-
(3@<;? %3BGE3 3@6 .7D@3 7F5 'I@ tinuation of mobile num-
a mobile app that will The company said Thursday it would offer trade-in
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4;=7 +3>3DK IAG>6 47 B3;6 *E B7D 63K bers issued using Aadhaar, time capture photograph incentives for people who want to replace old diesels
55A??A63F;A@ 3DD3@9734>7 A@F35F %0<@4=0/ 08,70 ..:@9?> EE;EF3@F that met formerly looser emissions standards, and
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1DE (D787DD76 3H;@9 =@AI>7697 A8 Court ruling that barred use ID proof such as Aadhaar
!00/ 108,70 ::6> 1:= @B,4? 49 , ,3>>K #A@=3@; @9>;E: /3@F76 3 of the national biometric ID more recent diesels in 14 German cities with high
AGE7 3>> '@ card, voter ID or passport is in the works pollution levels.
*:=6 1=:8 :80 ,=9 /,47D (7A@ FA IAD= ;@ %3D93A ;@ ;F@7EE by private companies.
39 B35=;@9 IAD= %3F7D;3> 8D77 :A?7 +:AIDAA? 3H;@9 I:77>7D $;57@E7 Debunking reports that works. "What the apex court has
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mobile SIMs in the country,
"The Supreme Court in its
judgement in Aadhaar case
asked that UIDAI should not
keep authentication log for
bizinfo
faced deactivation, the De- has nowhere directed that more than six months. The
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%0<@4=0/ C;0=409.0/ 'B: 4=7> ,9/ B:AFA9D3B:K A8 8AAF43>> 93?7E 8AD 3 -# partment of Telecommuni- the mobile number which restriction of not keeping Tanishq launches ‘Utsava’ collection
'88;57 AK 8AD 07DAJ +:AB @73D 43E76 5A?B3@K %GEF IAD= 8DA? cation and the 12-digit has been issued through authentication log beyond PANJIM: With the festive season just around the
B>GE 5A??;EE;A@ +:ABB7DE A>>75FAD3F7 '88;57 %3D93A 3>3@9GF7 A88;57 -# F;?;@9 B? FA unique identity number-is- Aadhaar e-KYC has to be six months is on the UIDAI corner, Tanishq has geared up to celebrate Diwali in
(3D36;E7 %3D93A 5A@F35F #@AI>7697 A8 J7DAJ FKB;@9 BD787DD76 ?;6@;9:F %GEF 47 3H3;>34>7 A@ suing authority UIDAI in a disconnected," it said. and not on the telecom style by introducing ‘Utsava’ – an enchanting
A@F35F I77=7@6E 3@6 A@ E:ADF @AF;57 63KE joint statement said, mobile Terming the report as companies. Therefore, there
*,9?0/ 1@77 ?480 >,70> 24=7 1:= , 241? collection that showcases the rich culture and beauty
5G? EF3F;A@7DK E:AB ;@ %3D93A 3 ?A@F: AA6 5A??G@;53F;A@ E=;>>E ;@ phone users at their choice "completely untrue and is no need for telecom com-
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of our country, encapsulating the true essence of the
FFD35F;H7 E3>3DK 53>> A@ A@F35F can seek a change of their imaginary", the government panies or AUAs/KUAs to festival of lights. The modern Indian woman is on the
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Aadhaar-based authentica- said there is no reason for delete authentication logs lookout for new designs and elements to compliment
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AGE7=77B;@9 M87?3>7N ;H /3;F7DE H tion done in the past with panic or fear at all. "People at their end," it added.
*,9?0/ 7,/D ?: ,>>4>? 49 :@>03:7/ FA =@AI ?AD7 her look. Tanishq has launched a new collection which
#;F5:7@ :7>B7D A@F35F alternate proof of identity should not believe in such AUA is Authentication
IAD= 3@6 434K 53D7 3F 3FAD63 DA? without any disconnection rumours," it said. User Agency (AUA) and
consists of statement pieces that bring about an
3? FA B? 5A@F35F of the number. The Supreme Court has KUA is KYC User Agency edginess and style with delicate craftsmanship. The
*,9?0/ 108,70 .:8;@?0= :;0=,?:= :?30= ,=D 1,A:@= 2=,9?0/ ::/ An alternate form for also not asked for deletion (KUA). collection showcases bold forms of jewellery and style
8AD J7DAJ E:AB ;@ ?3D93A F: F: :73DF A8 76@ EAGL3 buying new SIMs through a of the electronic-Know Your DoT-UIDAI said telecom that renders modernism to our rich heritage, and
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B3EE I;F: AD I;F: AGF 7JB7D;7@57 mobile app that will time Customer (a means of es- companies are required to highlights intricate craftsmanship from the Western
%3D93A capture photograph of the tablishing the identity of the keep authentication logs at and Southern belt of India. It is an assimilation of
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A@F35F +EG?;F persons along with ID proof person) data of telecom their end as per Aadhaar modern influences and traditional culture, which can
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such as Aadhaar card, voter customers after six months, regulations to resolve any
%0<@4=0/ ,9 0C;0=409.0/ :3;D6D7EE7D ID or passport is in the the statement said. consumer grievances. passed down generations. Starting at Rs 30,000, the
735: *7EADF 3>3@9GF7 3>> %3D5: F: BD;> F: F: %3K
8AD 3@ GB5A?;@9 $36;7E 3;D 3@6 Utsava collection is available at 267 Tanishq stores
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73GFK +3>A@ ;@ &3H7>;? %3D93AO across India, states a press release.
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EF3DA863H;6FAGDE@FD3H7>E 9?3;> 5A? Several records missing from Hershey India unveils Hershey’s Kisses
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I-T department, CIC told
%0<@4=0/ B,4?0=> 1:= 8::97423? -,= *E & +;@93BAD7 PTI, NEW DELHI: Several Information In its reply, the tax de-
3F >FA 34A>;? (7DEA@E EF3K;@9 ;@ 3@6 %3>3KE;3 *E 3>EA %3GD;F;GE records have gone missing Commissioner Bimal partment expressed his in-
,4 4909/=, 0/4.,7 &?:=0 !,A0748 from Income Tax depart- ability to furnish the
+3>57F7 I3@F 7JB7D;7@576 EF388 8AD 3DAG@6 >FA 34A>;? BD787DD76 AA6 :;@3 A@9=A@9 %353G *GEE;3 Julka noted it in one of
5AG@F7D E3>7E 53>> E3>3DK +F3DF;@9 EF &AH :DE 6GFK A>K>3@6 A@F35F A >A43> 'BB #, ment because of a restruc- the cases heard by him records not in their posses-
(7DEA@E ?GEF 47 34AH7 K73DE 3>> +F3@6 %3D93A turing drive in 2001 and sion and stated that an exer-
AD 2013, the Central Informa- when the tax cise had been initiated in
*,9?0/ 70.?= 70. 924900= ,20 tion Commission has been department could not the Department to digitise
%0<@4=0/ 9274>3 &;0,6492 +4:9 #472=48,20 ':@=> :7D7,9/G informed. furnish information its records, Julka noted.
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5A@F35F Information Commis- about pension fund in "It was explained (by I-T
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BD3E36 BD;?77@F ;@ sioner Bimal Julka noted it department official) that
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in one of the cases heard by
NTPC to an RTI their Department had un-
A@F35F ,7> (3@3<; '88;57
*,9?0/ >8,=? 108,70 %0.0;?4:94>?> him when the tax depart- applicant dergone restructuring in
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>34 F75:@;5;3@ B:>7?4AFA?;EF 8AD %3D93A '88;57 ment could not furnish in- 2001 and 2013 and there-
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+G4GD43@ ;39@AEF;5E %G?43; 43E7 ?3;> :A>K>3@6 L;A@FAGDE @7F ;@ formation about pension The tax department fore a number of records
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>34 8AD %3<AD63 +AGF: A3 +3>3DK 3E III L;A@FAGDE @7F ;@ fund in NTPC to an RTI ap- stated that since the record went missing. It was neither
3F %3D93A A@F35F
B7D 7JB7D;7@57 3>> plicant. was not received in their of- handed over by the con- PANJIM: Hershey India Pvt Ltd, a part of The Hershey
#D=,84/ '=,A07> :110=> @-,4 ! Under the RTI Act, Sunil fice after restructuring of cerned authority nor shown Company, a leading global snacking giant and the
+;@93BAD7 & largest producer of quality chocolates in North
*,9?0/ ..:@9?,9? B4?3 C;0=409.0 Kumar Johar had demanded the department in Novem- as transferred to their of-
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;@ :3@6>;@9 3 FD3H7> 97@5K =@AI>7697 copies of approval issued by ber, 2014 therefore the in- fice. Therefore, he was help- America, has launched its iconic and much-loved
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A8 F3>>K ;@3>;L3F;A@ 8AD 2;A@ ,AGDE office of the Commissioner formation sought could not less in providing any ‘Hershey’s Kisses’ chocolate brand in India. Creamy,
#;F5:7@ 7>B7DE 3@6 D3B:;5 7E;9@7D GDAB7 & -+ &
,D3H7>E (3@<;? A@F35F of Income Tax, Delhi-II, to be furnished. information sought by the delicious Hershey’s Kisses chocolates are distinct
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A3 FFD35F;H7E3>3D;7E 8AA6 3@6 the superannuation fund Not getting suitable re- appellant," he said. because of their unique shape and each one is
*,9?0/ >8,=? >,70> 24=7> >,70> 355A??A63F;A@ BDAH;676 (>73E7 53>> under Part 'B' of the fourth sponse, Johar approached Julka said there was an delicately wrapped to make them perfect for sharing
A@ ADI:3FE3BB A@ %> &492,;:=0 ,7,D>4, schedule of the Income Tax the Commission where he "urgent need" to develop a them with loved ones. Hershey’s Kisses will come in
4AKE 3@6 E3>7E 7J75GF;H7 9AA6 E3>3DK
3@9=A= & 63KE *E Act, 1961, NTPC Limited stated that a suitable reply robust system of record
8AD 93D?7@F E:AIDAA? @73D 3D; three variants namely the all-time classic creamy Milk
G43; & 63KE *E Self Contributory Superan- had not been furnished to keeping in the office and to
%3@6;D %3D93A A@F35F Chocolate; the popular Almonds – which has creamy
*,9?0/ := "C1:=/ =.,/0 95@9, 3@9=A= (3FF3K3 3>> !@5> A@F35F
&GDH; A>;63KE %
nuation Benefit (Pension) him by the Income Tax de- review its efficaciousness milk chocolate and `real’ almond bits and the unique
*,9?0/ 8;70809?,?4:9 924900= ?: %3@397DE EGB7DH;EADE E3>7E EF388 Trust among others. partment. periodically.
5AG@F7D EF388 355AG@F3@FE A@H7DE7@F ?3;> @GDH;:A>;63KE K3:AA ;@ Cookies `n’ Creme flavour – which has creamy white
IAD= ;@ +AGF: A3 %
3@6;63F7E ?3;> . FA ;@ @9>;E: FFD35F;H7 E3>3DK >A@9 F7D? chocolate with enticing cookie bits, states a press
9A363F37@FDK K3:AA 5A? :A@7EF 3@6 :3D6IAD=;@9 53@6;63F7E release.

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US says it could remove India from Seminar on GST in Margao
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currency monitoring list PANJIM: Goa Chamber of Commerce & Industry in
association with ICAI – Goa Chapter will organise a
3B34>7 A8 :3@6>;@9 E;F7 7F5 %3D93A
PTI, WASHINGTON: India India for the first time was placed by the US in its seminar on November 2 at Ravindra Bhavan, Margao,
%0<@4=0/ :@>0 8,4/ ,9/ 3:80 ;@67B7@67@F>K ?3;> KAGD . I;F: KAGD could be removed from US' which will cover topics such as Legal solutions to the
@GDE7E 8AD 83?;>K E3>3DK 3@6 7JB75F76 +3>3DK FA !=4 >B41? EC4 6 >0=40> 092490 currency monitoring list of countries with
B73D> I:;F7 A@>K =? =?B>;F currency monitoring list of potentially questionable foreign exchange controversies in GST, Annual Returns in GSTR 9,
34AH7 B:A@7 @A E;6:3@F:AEB;F3>;FK 9?3;> 5A?
B EF77D;@9 B I;@6AI 5 >A5=;@9 major trading partners, the Audited Reconciliation Statement under GSTR 9C, TDS
I:3FE3BB 397 GBFA E:AIDAA? 5A@6;F;A@ 7J5:3@97 A>6 Treasury Department has policies in April along with five other countries – and TCS under GST as implemented from October 1
K73DE %0<@4=0/ ::6 >>? ::6 !423? China, Germany, Japan, South Korea and
/39A@ D +I;8F >FA ; said, citing certain develop- and other critical contentious issues. The topics will
/3F5:?3@ /3;F7D 8AD $G; 735:
%3D93A ments and steps being Switzerland.
08,70 :@>08,4/ B,9?0/ 1:= -@ *7EADF 3@6A>;? 3@6A &73D be dealt with by expert faculty like Adv Ishaan Patkar,
:34; )3F3D D77 D75DG;F?7@F #;@98;E:7D .;>>3 A@F35F (7DEA@3>>K taken by New Delhi which Mumbai, CA Yatish Vernekar, CA Gaurav Kenkre and CA
1:= &,70 * :/07 &0=40> address some of its major have shifted markedly, as amidst a turnaround in for-
A@F35F (:A@7 Parimal Kulkarni. The seminar will benefit those dealing
53>>
concerns. the central bank's net sales eign portfolio flows, as for- with taxation, finance, accounts, audit and assessments
*,9?0/ ,70 4?.309 307;0=> 1:= 4A490 0=.D 423 &.3::7 *,9?0/ ,=@?4 =?42, C4 :/07 ".? 49 India for the first time of foreign exchange over eign investors pulled
D7BGF76 :;@7E7 D7EF3GD3@F ;@ FD3;@76 3@6 7JB7D;7@576 F735:7DE 3EEF was placed by the US in its the first six months of 2018 portfolio capital out of
like tax and accounts heads of every organisation,
7J57>>7@F A@6;F;A@ #?E /:;F7 finance managers, tax managers, tax consultants, and
%3BGE3 D7E: :7>B7D 53@ 3BB>K 3>> EG4 @9>;E: +5;7@57 %3F:E #A@=3@; A>AGD (D;57 3>> currency monitoring list of led net purchases over the India (and many other
;@6; 3@6 ( 6 *7F;D76 F735:7DE 53@ countries with potentially four quarters through June emerging markets) over business heads involved with taking tax related
3>EA 3BB>K '88;57 3EE;EF3@F I;F: ,?0>? D@9/,4 =,9/ 4 ,@?:8,?4. decisions. For registration contact Goa Chamber of
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questionable foreign ex- 2018 to fall to USD 4 bil- the first half of the year, it
*,9?0/ =4A0= .@8 &,70>8,9 1:= ,AB %A67> #?E ;@ Commerce & Industry, states a press release.
D7BGF76 D736 A?B3@K +3>3DK B7A@ 3@6 ?3;6E FAA (>73E7 53>> 3@6 change policies in April lion, or 0.2 per cent of the said.
7J57>>7@F A@6;F;A@ 7J5:3@97 5A@E;67D along with five other coun- GDP," the Treasury said in The rupee depreciated
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tries – China, Germany,
Japan, South Korea and
its latest semi-annual Re-
port on Macroeconomic
by around seven per cent
against the dollar and by
currency bullion
6;H;@7?7D5K 9?3;> ,=@?4 &B41? ) 8:/07 -7,.6 Switzerland. and Foreign Exchange Poli- more than four per cent on US Dollar 73.54
5A? The Department of cies of Major Trading Part- a real effective basis in the
Silver (Rs/Kg)
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*,9?0/ B,4?0= 2=4770= 64?.309 D7H7DE7 53?7D3 B>3K7D D36;A @7I Treasury maintained the ners of the US. first half of 2018, the re-
British Pound 96.32 38,694
:7>B7D F3@6AAD A3@ !@6;3@ 3>> *,9?0/ 9/4,9 .::6 B4?3 69:B70/20 FKD7E 3>> same monitoring list in its This represented a no- port said. Euro 84.55
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latest report released on table change from 2017, India has a significant bi- Russian Ruble 1.12
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Wednesday but said if India when purchases over the lateral goods trade surplus Kuwaiti Dinar 242.36
31,880
continued with the same first three quarters of the with the US, totalling USD
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practices as in the last six
months, it would be re-
year pushed net purchases
of foreign exchange above
23 billion over the four
quarters through June
Bahraini Dinar
Qatari Riyal
195.61
20.20
markets
#I;6 ! KG@63; AD6 ,AKAF3
3FAD63 %3D93A 757@F $A53F;A@ K73DE 7JB7D;7@57 AA6 .;@F397 3DQE +BAF (3K?7@F moved from its next bi-an- two per cent of the GDP, it 2018, but India's current Emirati Dirham 20.02 Sensex 34,779.58
AA6 +3>3DK8AD 7E7DH;@9 (7DEA@ 355A??A63F;A@ 8D77 FA E3>3DK nual report. said. account is in deficit at 1.9
B? 3>> "India's circumstances Recent sales have come per cent of the GDP.
Omani Rial 191.31 Nifty 10,453.05