Capital goods manufacturers' apex body Process Plant and Machinery Association of India (PPMAI) has urged the finance ministry to withdraw or modify the circular 46 of the Central Board of Excise and Customs (CBEC) that mandates dual taxation in case of sales in customs-bonded warehouses.
As per the CBEC circular, imported goods procured under in-bond transfer would be subjected to double taxation, first under IGST Act, 2017 and thereafter, under the Customs Act, 1962, PPMAI said in a statement today.
"The CBEC circular has led to dual IGST taxation on the import of goods and subsequent sale thereof in custom bonded warehouses. This has created confusion as certain goods and raw materials have to be imported to produce high-end capital goods in the country," its secretary general VP Ramachandran said in the letter to the ministry.
"Moreover the circular is unclear on whether input credit on the IGST paid on sale of goods within custom bonded warehouse can be availed and utilised in discharging the IGST liability at the time of filing Bill of Entry for home consumption and the availability of credit of IGST paid at the time of bill of entry for home consumption," he said. Jet announces R-Day sales
Private carrier Jet Airways has announced a week-long sale, offering customers up to 20 percent discounts on domestic travel and up to 30 percent on international travel to celebrate the 69th Republic Day.
Under the limited period offer, customers can avail up to 10 percent discount on economy class and up to 20 percent on business class on select domestic routes, Jet Airways said today.
However, for international travel, the discount stands at up to 30 percent on base fares, it said.
The special fares are applicable on tickets booked between January 23 and 29, the airline said adding while international tickets are valid for immediate travel, domestic ones will be valid for travel from February 1 onward with an 8-day advance purchase restriction for economy travel.
Business class customers availing discounted tickets for domestic flights will enjoy a three-day advance purchase restriction, Jet Airways added. Bajaj Allianz' Chatbot on Amazon Alexa
In a first, Bajaj Allianz General Insurance had decided to take its Chatbot to Amazon's cloud based voice service Alexa to better serve its customers. Its Chatbot called 'Boing' will now be available on Amazon's Alexa, which is available on Amazon's Echo.
Through this move, company aims to redefine the customer experience and provide them with instant customer query resolution and FAQ's in voice format.
The company also announced an additional feature of linking of Aadhaar and PAN card to the insurance policy on Boing Chatbot.
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