Biotechnology giant Biocon Limited has received Goods and Services Tax (GST) notice of over Rs 3.2 crore for the financial year 2022-23, which includes the tax amount along with interest and penalty. The company informed in the information given to the stock exchange that it VisakhapatnamThis notice has been received from the GST office located at -2. This notice includes GST of Rs 1.85 crore, interest of Rs 1.17 crore and penalty of Rs 18.52 lakh. The company has been mainly accused of non-submission of SEZ endorsement documents for zero-rated SEZ (Special Economic Zone) supplies, wrongful reversal of input tax and alleged irregularities in claims of input service distribution credit. The company has clarified that this order will not have any material adverse impact on its financial or operational performance and it is preparing to file a rectification petition or appeal in the appropriate forum in this matter.
Mumbai: Responses received from actors in the case of advertising of banned products, FDA Commissioner warns
Mumbai: Maharashtra’s Food and Drug Administration (FDA) department has received replies from Bollywood actors who were served notices in connection with indirect advertisements of banned tobacco products. FDA Commissioner Tukaram Munde It made it clear on Saturday that all concerned parties will be provided another fair opportunity of being heard before any final punitive action is taken. The department had sought answers from leading actors like Shah Rukh Khan, Ajay Devgan and Tiger Shroff for promoting banned tobacco products.
Commissioner Munde stressed that it is extremely important for celebrities endorsing advertisements to ensure that their advertisements are in accordance with the prevailing laws of the country. Citing Section 24 of the Food Safety and Standards Act, 2006 and the Advertising Rules of the year 2018, he reminded that these rules related to advertisements apply equally to all types of food products. Strict legal action will be taken as per the rules against any person or business establishment violating the law. He also appealed to the general consumers to carefully read and understand all the information given on the food packets before purchasing.
Major administrative reshuffle of World Bank: Pakistan out of South Asia Group
Sponsors of terrorism and facing serious economic crisis Pakistan has suffered a major setback on the international stage. In an administrative reshuffle, the World Bank has removed Pakistan from the ‘South Asia Region’ and included it with the ‘Gulf Countries and North Africa’ (MENAP) group. After this important administrative change, now only India, Bangladesh, Sri Lanka, Nepal, Bhutan and Maldives are left under the ambit of the World Bank’s South Asia Region. After this change made by the World Bank, there is discussion in Pakistani media circles that geopolitical and diplomatic tension between India and Pakistan could be the main reason behind this decision.
