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1. Rice federation tells T.N. Chief Minister to take up waiver for rice with GST Council

Chief Minister to take up waiver for rice with GST Council Paddy and rice millers have urged the Tamil Nadu government, under Chief Minister C. Joseph Vijay, to take up the issue of Goods and Services

Rice federation tells T.N. Chief Minister to take up waiver for rice with GST Council

Chief Minister to take up waiver for rice with GST Council Paddy and rice millers have urged the Tamil Nadu government, under Chief Minister C. Joseph Vijay, to take up the issue of Goods and Services Tax (GST) waiver for rice, an essential commodity, with the Centre and the GST Council. The 57th GST Council is likely to be convened in a few weeks, and States can raise their concerns there, said D. Thulasingam, president, Federation of Tamil Nadu Rice Mill Owners and Paddy Rice Federation. Poor people, who buy a few kilograms of rice at a time, are being hit by this unnecessary tax. Rice packs weighing below 26 kg are now taxed at 5% GST, he said. “Nearly 15%-20% of consumers, such as daily wage labourers, buy rice in small quantities. Before the GST regime, some States such as Karnataka and undivided Andhra Pradesh had levied taxes on rice. GST is also one reason for the increase in rice prices,” he said.

2. CJI backs mediation as instrument in reducing litigation

CJI backs mediation as instrument in reducing litigation - Web Stories - 1 min read CJI backs mediation as instrument in reducing litigation Chandigarh: Emphasising that mediation must become an integ

CJI backs mediation as instrument in reducing litigation

CJI backs mediation as instrument in reducing litigation - Web Stories - 1 min read CJI backs mediation as instrument in reducing litigation Chandigarh: Emphasising that mediation must become an integral part of India's justice delivery system, the Chief Justice of India, Justice Surya Kant, on Saturday highlighted the need for a shift toward resolving disputes outside the courtroom. Speaking after releasing two books – ‘The mediation movement of India' and ‘Law of cognisance and summoning in criminal complaints' – Justice Surya Kant said, "I have been quite candid with my belief that mediation must become a far more integral part of our justice delivery system." "Today, we are at a defining moment in this journey. On one hand, mediation has found recognition across a wide range of statutes, culminating in a dedicated legislature, the Mediation Act, 2023, yet on the other hand, its true potential is still underutilised to a great degree. This is why the book has arrived at an opportune time," he said. "Usually by the time a matter reaches court, and it is taken up, the parties have already invested considerable time, resources and emotion in the litigation. And that makes opting into litigation a difficult proposition. Therefore, we must now encourage stronger institutional mechanisms that facilitate pre-litigation mediation, dissolving disputes before they enter the courtroom," said Justice Surya Kant. "I firmly believe that our efforts will achieve their full worth only when mediation becomes a concept that an ordinary citizen understands and trusts.

3. RBI imposes penalties on Muthoot Finance, 5 others for compliance violations

RBI imposes penalties on Muthoot Finance, 5 others for compliance violations - Regulators - 1 min read RBI imposes penalties on Muthoot Finance, 5 others for compliance violations The Reserve Bank of

RBI imposes penalties on Muthoot Finance, 5 others for compliance violations

RBI imposes penalties on Muthoot Finance, 5 others for compliance violations - Regulators - 1 min read RBI imposes penalties on Muthoot Finance, 5 others for compliance violations The Reserve Bank of India has fined six companies for regulatory breaches. Muthoot Finance received a Rs 5.80 lakh penalty for risk management failures. Avail Financial Services was fined for director conflicts and exposure limits. PAN Emami Cosmed faced penalties for exceeding credit exposure limits. Satya MicroCapital was penalized for incorrect NPA classification after restructuring. Mumbai, The Reserve Bank of India (RBI) on Friday announced that it has imposed monetary penalties on six companies, including non-bank lender Muthoot Finance, for non-compliance with various regulatory norms. The central bank imposed a Rs 5.80 lakh penalty on Muthoot Finance, Rs 3.10 lakh each on Satya MicroCapital and PAN Emami Cosmed, Rs 2.70 lakh each on Dhani Loans and Services and Muthoot Vehicle and Asset Finance, and Rs 6.20 lakh on Avail Financial Services, notifications said. Muthoot Finance was penalised for failing to put in place a system of periodic review of risk categorisation of accounts and non-deployment of robust software for effective identification and reporting of suspicious transactions, the RBI said.

4. ITAT rules Cloudera Inc's software subscription revenue not taxable as royalty

ITAT rules Cloudera Inc's software subscription revenue not taxable as royalty - Law & Policy - 2 min read ITAT rules Cloudera Inc's software subscription revenue not taxable as royalty The ITAT has r

ITAT rules Cloudera Inc's software subscription revenue not taxable as royalty

ITAT rules Cloudera Inc's software subscription revenue not taxable as royalty - Law & Policy - 2 min read ITAT rules Cloudera Inc's software subscription revenue not taxable as royalty The ITAT has ruled that Cloudera's software subscription fees from Indian customers are not taxable in India as royalty or technical service fees, providing relief to the US company. However, it held that customised professional services qualify as taxable fees for technical services under the India-US tax treaty and attract 10% tax. In a relief for U.S.-based Cloudera Inc., the New Delhi bench of the Income Tax Appellate Tribunal (ITAT) has ruled that software subscription fees earned by the company from Indian customers are not taxable in India as royalty or fees for technical services (FTS). However, the tribunal has clarified that a separate stream of professional services provided by the company is taxable as technical services. The division bench of judicial member Vikas Awasthy and an accountant member Renu Jauhri ruled this while partly allowing an appeal filed by the US company for the assessment years 2020-21, 2021-22 and 2022-23. The order is expected to clarify the taxation of software subscriptions and related services, according to tax experts. In this case, the tribunal held that receipts of about Rs. 56.63 crore from software subscriptions did not involve the transfer of technology or intellectual property and therefore could not be treated as royalties or FTS under the Income-tax Act or the India-U.S. tax treaty. However, the tribunal upheld the taxability of Rs. 3.05 crore received during assessment year 2022-23 for professional services, finding that those services went beyond routine implementation support.

5. Can saying this abusive word lead to an obscenity case? Supreme Court explains in Tamil Nadu land dispute case

Can saying this abusive word lead to an obscenity case? Supreme Court explains in Tamil Nadu land dispute case The Supreme Court on Friday clarified that the use of abusive or vulgar language, no matt

Can saying this abusive word lead to an obscenity case? Supreme Court explains in Tamil Nadu land dispute case

Can saying this abusive word lead to an obscenity case? Supreme Court explains in Tamil Nadu land dispute case The Supreme Court on Friday clarified that the use of abusive or vulgar language, no matter how offensive or uncivil, does not by itself amount to the criminal offence of obscenity. The court mentioned such words would attract obscenity provisions only if they are lascivious, appeal to prurient interests and have the tendency to deprave or corrupt those exposed to them, reported. The ruling came from a Bench comprising Justices Sanjay Karol and Vipul M Pancholi while partly allowing the appeal of a man convicted for obscenity after he used the expressions “motherf****r”, “son of a w***e” and other vulgar expletives during a dispute over land. “Let’s be clear, legally, obscenity is not synonymous with ‘vulgarity’, ‘abuse’ or ‘profanity’. Use of mere swear words, profanities and vulgar expletives, however distasteful or uncivil they may be, cannot be equated with obscenity...Words which are merely vulgar or abusive may evoke a feeling of disgust, revulsion or shock, but that by itself does not make them obscene in law,” the Court mentioned. The Supreme Court, however, upheld the man's conviction for causing grievous hurt after finding that he had fractured the complainant's nasal bone with a billhook. At the same time, it reduced his sentence to imprisonment till the rising of the court and ordered him to pay a fine of ₹50,000. The case stemmed from an agricultural land dispute in Tamil Nadu in August 2017.

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