File Photo: Goa CM Pramod Sawant (PTI Photo)
File Photo: Goa CM Pramod Sawant (PTI Photo)

Goa issues Rs 156 crore demand notice to JSW Steel for coal transportation

The Goa government has sought payment in the form of Goa Rural Improvement and Welfare Cess, within 15 days. It has warned company representatives of punishment with imprisonment of two years or fine of Rs 25,000 if the cess is not paid.
By Press Trust of India | Posted by Karan Manral | Panaji
UPDATED ON NOV 24, 2020 12:17 PM IST

The Goa government has issued a demand notice to JSW Steel Ltd, handling coal at Mormugao Port Trust (MPT), to pay Rs 156.34 crore in the form of Goa Rural Improvement and Welfare Cess, within a fortnight, for transportation of coal.

In a demand notice issued on November 9, 2020, copy of which was released on Monday, the Assistant Director of Transport has asked JSW Steel to pay Rs 156.34 crore to the state within 15 days.

When contacted, JSW Steel declined to comment.

The notice said that the company representative may face punishment with imprisonment of two years or fine of Rs 25,000 if the cess is not paid.

The government has said that the company was served a show cause notice on September 4, 2020 for non-payment of cess under Goa Rural Improvement and Welfare Act, 2000 for transportation of coal done through Mormugao Port Trust to the plant site.

The company representative was asked to remain present before the Transport Department on September 16, 2020.

The notice mentions that the company in their reply on October 13, 2020 said that due to COVID-19 outbreak minimum staff reported on duty.

The company had said that it will report back to the state government as soon as COVID-related restrictions are lifted by the government, but they failed to do so. PTI RPS DRR DRR

SHARE THIS ARTICLE ON
app
Close
Petrol and diesel became costlier by 25 paise per litre on Tuesday in the Capital(Reuters)
Petrol and diesel became costlier by 25 paise per litre on Tuesday in the Capital(Reuters)

Govt may not reduce excise duty on fuel soon: Official

By Rajeev Jayaswal, New Delhi
PUBLISHED ON JAN 20, 2021 12:21 AM IST
The retail inflation, as measured by the Consumer Price Index (CPI), was at a 77-month high at 7.6% in October. Although it softened a bit to 6.9% in November, it was still above the Reserve Bank of India’s medium-term target of 4%, with a band of plus or minus 2%.
Close
Investment bankers and traders have carried the load for their firms this year as consumer divisions came under pressure from the Covid-19 outbreak that shut down businesses and put millions out of work.(REUTERS)
Investment bankers and traders have carried the load for their firms this year as consumer divisions came under pressure from the Covid-19 outbreak that shut down businesses and put millions out of work.(REUTERS)

Bank of America’s trading unit falls short of rivals during bumper year

Bloomberg
PUBLISHED ON JAN 19, 2021 08:03 PM IST
Revenue from sales and trading rose 7% to $3.06 billion in the fourth quarter, missing analysts’ $3.15 billion forecast.
Close
The bank's shares surged 2.6% in early trading, adding to a 20% gain in the past year.(REUTERS)
The bank's shares surged 2.6% in early trading, adding to a 20% gain in the past year.(REUTERS)

Goldman Sachs profit more than doubles on underwriting, trading boost

Reuters
PUBLISHED ON JAN 19, 2021 07:56 PM IST
Revenue from global markets, which houses the bank's flagship trading business, registered its best annual performance in a decade. Sales at the unit surged 23% to $4.27 billion in the quarter, raking in $21.2 billion in the full year.
Close
HDFC and Reliance Industries were the most significant contributors to the benchmark index gain.(HT Photos)
HDFC and Reliance Industries were the most significant contributors to the benchmark index gain.(HT Photos)

Investor wealth zooms 3.41 lakh crore as markets witness massive buying

PTI
UPDATED ON JAN 19, 2021 07:55 PM IST
Following the upbeat sentiment, the market capitalisation of BSE-listed companies jumped 3,41,846.01 crore to 1,96,19,149.34 crore.
Close
Under the relaxations, the abridged letter of offer, application form and other issues material to shareholders can be undertaken by electronic transmission as already provided under the ICDR (Issue of Capital and Disclosure Requirements) norms.(PTI File Photo)
Under the relaxations, the abridged letter of offer, application form and other issues material to shareholders can be undertaken by electronic transmission as already provided under the ICDR (Issue of Capital and Disclosure Requirements) norms.(PTI File Photo)

Sebi extends relaxations for compliance with rights issues

PTI
PUBLISHED ON JAN 19, 2021 07:48 PM IST
Based on the representations received from the market participants, the validity of relaxations is further extended and shall be applicable for rights issues opening up to March 31, 2021, the Securities and Exchange Board of India (Sebi) said in a circular.
Close
According to a report pencilled by the India economist at UBS Securities, Tanvee Gupta Jain, the country has the lowest manufacturing costs among peers, even though China retains significant ecosystem advantages and despite that India and Vietnam appear most likely to benefit from a shift out of China. (Representative Image)(MINT_PRINT)
According to a report pencilled by the India economist at UBS Securities, Tanvee Gupta Jain, the country has the lowest manufacturing costs among peers, even though China retains significant ecosystem advantages and despite that India and Vietnam appear most likely to benefit from a shift out of China. (Representative Image)(MINT_PRINT)

India to contribute 15% of global growth by FY26: Report

PTI
PUBLISHED ON JAN 19, 2021 07:39 PM IST
The report expects the large local market potential, low labour costs, macroeconomic stability and the hope of strengthening ongoing reform momentum will help achieve these objectives.
Close
The 15th India-EU Summi will be held via video conference on July 15.(Reuters)
The 15th India-EU Summi will be held via video conference on July 15.(Reuters)

First India-EU IPR dialogue held to strengthen relation

ANI, New Delhi
PUBLISHED ON JAN 19, 2021 06:41 PM IST
The ministry informed that the various initiatives taken up by the Indian government in this context were appreciated by the EU representatives.
Close
A man speaks on his mobile phone as he exits a glass door with the logo of Maruti Suzuki India Limited at a showroom in New Delhi, India.(Reuters)
A man speaks on his mobile phone as he exits a glass door with the logo of Maruti Suzuki India Limited at a showroom in New Delhi, India.(Reuters)

Maruti shares gain over 1% as company hikes prices of select vehicles

PTI
PUBLISHED ON JAN 19, 2021 06:11 PM IST
The country's largest carmaker on Monday said it has increased the prices of select models by up to 34,000 to offset adverse impact of rising input costs.
Close
A Boeing 737 Max jet, piloted by Federal Aviation Administration (FAA) chief Steve Dickson, prepares to land following a test flight in Seattle.(File Photo / AP)
A Boeing 737 Max jet, piloted by Federal Aviation Administration (FAA) chief Steve Dickson, prepares to land following a test flight in Seattle.(File Photo / AP)

Boeing 737 Max to get EU flight clearance next week

Reuters
PUBLISHED ON JAN 19, 2021 06:08 PM IST
The EU Aviation Safety Agency is one of the last major regulators to approve changes to the Max and its anti-stall software, blamed for two deadly crashes.
Close
Foreign portfolio investors bought $2.44 billion worth of Indian stocks in January ht(MINT_PRINT)
Foreign portfolio investors bought $2.44 billion worth of Indian stocks in January ht(MINT_PRINT)

Mindtree shares close over 1% higher as net profit jumps

PTI
PUBLISHED ON JAN 19, 2021 06:07 PM IST
The Bengaluru-based company had posted a net profit of 197 crore in the year-ago period. Its revenue grew 3 per cent to 2,023.7 crore in the quarter under review, from 1,965.3 crore in the year-ago period.
Close
World No Tobacco Day 2020: Dispelling myths about tobacco use, cigarettes and vaping.(Unsplash)
World No Tobacco Day 2020: Dispelling myths about tobacco use, cigarettes and vaping.(Unsplash)

Changes in law on cigarettes, other tobacco products to impact F&B sector: NRAI

PTI
PUBLISHED ON JAN 19, 2021 05:59 PM IST
The proposed amendments will not only hugely inconvenience the consumers but will also adversely impact the overall consumer sentiments, the National Restaurant Association of India (NRAI) said in a statement.
Close
Oil prices have been supported this week by a pledge by Saudi Arabia, the world’s biggest oil exporter, to cut output by an additional 1 million barrels per day (bpd) in February and March.(Reuters/ File photo)
Oil prices have been supported this week by a pledge by Saudi Arabia, the world’s biggest oil exporter, to cut output by an additional 1 million barrels per day (bpd) in February and March.(Reuters/ File photo)

Oil prices rise as investors look to higher demand seen in second half

Reuters
PUBLISHED ON JAN 19, 2021 05:53 PM IST
Brent crude futures for March rose 72 cents to $55.47 a barrel by 1152 GMT after slipping 35 cents in the previous session.
Close
The changes could hurt Amazon as it holds indirect equity stakes in two of its biggest online sellers in India.(Reuters )
The changes could hurt Amazon as it holds indirect equity stakes in two of its biggest online sellers in India.(Reuters )

Govt plans foreign investment rule changes that could hit Amazon

Reuters, New Delhi
PUBLISHED ON JAN 19, 2021 05:46 PM IST
The 2018 rules forced Amazon and Flipkart to rework their business structures and soured relations between India and the United States.
Close
"The concessionaires are required to take up the Guwahati, Jaipur and Thiruvananthapuram airports fulfilling certain conditions precedents within 180 days from 19th January, 2021," the Airports Authority of India (AAI) said in a press release.(HT Photo)
"The concessionaires are required to take up the Guwahati, Jaipur and Thiruvananthapuram airports fulfilling certain conditions precedents within 180 days from 19th January, 2021," the Airports Authority of India (AAI) said in a press release.(HT Photo)

Adani Group signs concession agreements with AAI for developing 3 airports

PTI
PUBLISHED ON JAN 19, 2021 04:57 PM IST
The Centre had in February 2019 privatised six major airports of the country -- Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram and Guwahati. Through a competitive bidding process, the Adani group won the rights to run all of them for 50 years.
Close
According to the official statement of CGST Commissionerate, the accused Arvind Kumar was arrested under Section 69(1) of the CGST Act, 2017 and produced before the Duty Magistrate on January 17, who remanded him to judicial custody of 14 days till January 3.(REUTERS/Representative image)
According to the official statement of CGST Commissionerate, the accused Arvind Kumar was arrested under Section 69(1) of the CGST Act, 2017 and produced before the Duty Magistrate on January 17, who remanded him to judicial custody of 14 days till January 3.(REUTERS/Representative image)

Man who ran 46 fake firms, helped businesses evade taxes worth 83 cr arrested

ANI, New Delhi
PUBLISHED ON JAN 19, 2021 04:23 PM IST
CGST Commissionerate said the investigation conducted so far revealed that 46 firms that were being controlled by Arvind Kumar and his associates are fictitious.
Close
SHARE
Story Saved
OPEN APP