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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
Parliamentary panel to examine
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*,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
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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
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
%0>0=A,?4:9 49 3,=20 >>? &?,= :1 ,A4/ ':@=> :7D ,847D be the statement and relevant heirloom that can be
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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
3EE;EF3@F I3;F7DE 3@6 5AA=E 8AD 3 !F F ,7,D>4, chocolate
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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-
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*,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
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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,
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,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.

*,9?0/ &?,11 ?: .:9/@.? /::= ?: 6AAD

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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
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
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questionable foreign ex- 2018 to fall to USD 4 bil- the first half of the year, it
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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
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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
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
#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
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B? 3>> "India's circumstances Recent sales have come per cent of the GDP.
Omani Rial 191.31 Nifty 10,453.05