Mineral sands company Iluka Resources has posted a 17 per cent drop in its half-year profit due to the effect of COVID-19 on zircon sales.…
A small and medium textiles exporters’ association has asked the government to introduce ‘faceless assessments and faceless appeals’ in the indirect tax regime as well so that exporters’ interaction with GST officials could be eliminated.
The income tax department on Thursday amended its e-assessment scheme to align it with faceless assessment.
Amending the e-assessment scheme launched last year, the Central Board of Direct Taxes (CBDT) has notified changes to include change in nomenclature of scheme from ”E-assessment scheme” to ”Faceless Assessment Scheme”.
Home Textile Exporters’ Welfare Association (HEWA) said Prime Minister Narendra Modi has declared that the faceless assessments and taxpayers’ charter would come in force immediately, and faceless appeals would begin from September 25 onward.
The aim of this scheme is to eliminate the face-to-face interactions between taxpayers and Income Tax Department officers, it said in a statement.
“On the same footing HEWA urges the government to introduce the faceless assessments and faceless appeals in indirect tax regime also, so that exporters’ interaction with GST officials is eliminated,” it said.
HEWA further said that in case any exporter is red flagged or
Homegrown robot maker Milagrow expects a 15-20 fold jump in sales this fiscal with machines replacing humans in various processes due to the spread of Covid-19 pandemic.
The demand for floor cleaning and other robots has picked up as people faced domestic help constraints amid concerns around the pandemic, Milagrow founder and chairman Rajeev Karwal told PTI.
“We have seen the market exploding for robots. In the first four months, we have achieved the entire turnover of what we did in last year. In early August we already sold 50 per cent of what we did in the last four months. We expect to sell 1 lakh units this fiscal with an average price of Rs 45-50 thousand,” Karwal said.
He said that if everything goes well and there are no supply constraints because of the India-China row then the robot market in India will grow 30 times to 300,000 units.
“At 300,000 units, India market will be around 10 per cent of China market which 3 million units. India market mirrors China market with a lag of five years. I have seen the same for colour
An anti-government protest in Thailand drew more than 10,000 people on Sunday, the largest political demonstration the kingdom has seen in years as a pro-democracy movement gathers steam.
Student-led groups have held near-daily protests across the country for the past month to denounce Premier Prayut Chan-O-Cha — a former army chief who led a 2014 coup — and his military-aligned administration.
By Sunday evening the protesters — who are demanding major democratic reforms — had taken over the busy intersection around Bangkok’s Democracy Monument, which was built to mark the 1932 revolution that ended royal absolutism.
Police closed off surrounding main roads to stop incoming traffic, and an official at Bangkok’s Metropolitan Police Bureau told AFP the crowd size had grown to 10,000 by 6:00 pm (1100 GMT).
“Down with the dictatorship,” the students chanted, many holding signs critical of the administration. Others held bird-shaped cutouts representing peace.
The peaceful gathering at Democracy Monument is the largest the kingdom has seen since Prayut staged a putsch in 2014.
Partly inspired by the Hong Kong democracy movement, the protesters claim to be leaderless and have relied mostly on