1
11 Greater Kashmir SRINAGAR | November 01, 2016, Tuesday BUSINESS twitter.com/GreaterKashmir_ facebook.com/DailyGreaterKashmir epaper.GreaterKashmir.com MCX 24kt/10gm Sensex 27930.21 Gold `30,057 Nifty 8625.70 Silver `42,459 Crude 3,265 Dollar `66.75 Euro `73.05 Pound `81.18 Saudi Riyal `17.80 Dirham `18.18 Kuwaiti Dinar `220.26 Yen `0.64 Ch Yuan `9.85 12.30 11.30 `25 `82 `18 S-002 AL-MAHMOOD WELFARE INSTITUTE PARIMPORA, BYPASS, OPPOSITE FRUIT MANDI, SRINAGAR 190017. JOB OPPORTUNITY Needed: POST: Required: Teacher: 2 No. Helper (kitchen): 1 No. Helper (Cleaning): 1 No. Gate Keeper: 1 No. Only male candidates are required Interested candidates are directed to: either visit the office personally or call @ 09107008226 NOTICE INVITING BIDS Sealed bids are invited for auction of 63 KVA 3 phase water-cooled Gen Set lying at GK Printing Press 14-B Industrial Estate Sanant Nagar Srinagar on “ as is where is” basis. The sealed bids addressed to “ General MANAGER GREATER KASHMIR, PRESS ENCLAVE 6 PRATAP PARK Residency Road Srinagar will be received by or before 5th Nov. 2016, Saturday up to 3.00 P.M. which will be opened on the same day in presence of interested bidders who may choose to be present. Successful bidder shall have to deposit the bid amount on the spot. However, the management reserves the right to reject any or all bids without assigning any reason. General Manager, Greater Kashmir M-006 JK loses race in business reforms Gujarat figures at number 1 in DIPP-WB Group report; JK at 29th rank falls behind Haryana, Bihar, Jharkhand In troubled Kashmir, ‘Rose Garden’ shoots unhindered On last date of VAT return, official website turns ‘hostile’ Assessees decry ‘malfunctioning’ of website GK NEWS NETWORK Srinagar, Oct 31: Faring again poor, Jammu and Kashmir State has figured at 29 in the list of states ranked in accordance with imple- mentation of Business Reforms 2015-16. Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, in partnership with the World Bank Group, released the results of ‘Assessment of State Implementa- tion of Business Reforms 2015-16.’ The Assessment studies the extent to which the states have implemented DIPP’s 340-point Busi- ness Reform Action Plan (BRAP) for States/UTs 2015-16, covering the period July 1, 2015 to June 30, 2016, a PIB handout here said. The BRAP includes recommen- dations for reforms on 58 regula- tory processes, policies, practices or procedures spread across 10 reform areas spanning the lifecycle of a typical business. Data for this assessment was collected from State Governments on the BRAP portal. The portal, among the first of its kind global- ly, allowed State Governments to submit evidence of implemented reforms. At least 32 State and UT Govern- ments submitted evidence of imple- mentation of 7,124 reforms. “These submissions were reviewed by the World Bank team and validated by DIPP’s team to study whether they met the objectives of the BRAP,” the handout said, adding that the portal allowed for collaborative dialogue between DIPP and the State Governments in finalizing the evidence submitted. A total of 6,069 reforms were approved as implement- ed or not appli- cable on the portal. The results of the assess- ment demon- strate that States have increasingly risen to addressing the challenge of making it easier to do business. The national implementa- tion average stands at 48.93%, significantly higher than last year’s national average of 32%. “This demonstrates the great progress made by States this year,” it said. As per the results, Gujarat has been ranked number 1 state in the implementation of Business Reforms 2015-16, while Andhra Pradesh has scored second posi- tion. Interestingly, states of Haryana and Jharkhand are far ahead of Jammu and Kashmir. The state of Bihar ranks at 21 while Jammu and Kashmir has ranked at 29. Only two states, Nagaland at 31 and Megha- laya at 30 are behind Jammu and Kashmir. SAQIB MALIK Srinagar, Oct 31: On the last date of filing of Q1, Q2 VAT returns 2016-17 on Monday, many assessees were left disappointed as according to them the website of the department of Commer- cial Taxes malfunctioned for “most of the day.” Several traders and businessmen told Greater Kashmir that they were unable to upload details of returns on the department’s website despite repeated attempts by them, as the web- site was displaying “error” most of the time. “The assessees have been calling us that they could not file returns due to the malfunctioning of the website. The site kept showing error when one was trying to file the VAT returns,” Faiz Bakshi, secretary general, Kashmir Chamber of Commerce and Industry ( KCCI) said. Saying that the chamber would take up the issue with the state government, Bakshi alleged that thousands of assess- ees were unable to file the returns for none of their faults. Abdul Majid Zargar, senior Char- tered Accountant said his staff failed to file several returns throughout Monday afternoon. “However, the assessees who filed the returns in the morning hours were able to upload them," he added. “There was total panic and chaos among the assessees due to the mal- functioning of the website. “Besides, it was illogical and unrea- sonable on the part of state government not to extend the date for filing of VAT returns as several traders don't have access to the Internet while others have Internet facility in their offices and shops which remain shut for most of the time due to the unrest," Zargar said. Aijaz Shahdar, a trader and head General Trade Sector of Kashmir Eco- nomic Forum, said he too received sev- eral calls on Monday afternoon from traders complaining that they were unable to file returns due to errors on the website. “Many members of the trading and business class could not file the VAT returns due to the erratic functioning of the website. The problem in the web- site was experienced at all the business establishments, offices, and auditors’ offices on Monday especially after 4pm as the website was getting hung,” Shah- dar said. Pointing out the erratic function- ing of the website, Chartered Accoun- tant Tahir Rashid said he faced issues with the website for uploading various forms throughout the day. He said on contacting the department, the traders were told to “make do with whatever is available”. “The main form was getting sub- mitted but uploading of other forms was a problem. The website was reflect- ing ‘that upload sheet is invalid’. This error was pop- ping up on screen,” Rashid said. When contacted, P I Khateeb, Com- missioner Commer- cial Taxes said the website was hung for a “temporary duration” due to an “unprecedented last moment rush of assessees trying to file e-returns.” Khateeb said, “the website was restored soon.” “Ideally assessees should have filed returns prior to 5 PM and not left it for last moment. As assessees in large numbers were trying to file returns at the last moment, the web- site was getting hung. We had to tem- porarily shutdown the website in the evening for sometime but restored it soon. Assessees have time till 12 midnight to file returns,” Khateeb said. To mention, while union finance ministry recently extended date for filing of Income Tax Returns (ITR) to December 31 for Jammu and Kashmir, the state government turned down demand of Kashmir Inc to extend the date for filing VAT returns. Kashmir-based traders had approached the state government requesting for time extension in view the continuous strikes and Internet gag in Kashmir. But their plea was turned down. HAROON MIRANI Srinagar, Oct 31: Even as Kashmir remained caged amid continued curfews and shut- downs for the last more than three months, a film crew from South India completed shoot- ing of a Telugu film in a back to back schedule stretching over a month here. With people and traffic off the roads, the film crew backed by elaborate securi- ty had literally entire Kash- mir to themselves, a dream come true for any director. The movie ‘Rose Garden’ revolves around the story of a Kashmiri girl and a Hyder- abad journalist. “When we came here there were more military personnel than civilians on the ground. The situation was such that at first we were frightened and were in doubt whether to do shooting or pack up,” said G Ravi Kumar, director of the movie at a presser here. “But then the Chief Min- ister, the DG Police and the tourism officials came for- ward to help us. They gave us tremendous support, pro- vided security and permis- sions on fast-track basis. It is due to these reasons that we completed the shooting within a month.” Besides a contingent of Kashmir police, the crew was also accompanied by CRPF personnel. “We shot at Gulmarg, Sonamarg, Mughal gardens, Dal Lake and many other places. Nowhere did we feel insecure. There was help at every corner,” Kumar said, adding that the movie was loosely based on the current situation of Kashmir. The movie stars South India actor Nitin Nash and Farnaz Shetty from Mumbai. Police had deputed a security official with the film crew as liaison officer who advised the crew when to travel, where to shoot and when to leave. “We had to get up early in the morning and get going by 3.30 AM. We never trav- elled during the day,” said Shetty. “But the hospitality of people has been exemplary.” Shetty said that given the situation, both Kashmiris as well as outsiders are fright- ened. “Media too has exag- gerated the situation. People living here are scared and we outsiders coming to Kashmir also feel scared,” she said. “People live here amidst a lot of restrictions but still they are so warm and hospi- table. I never felt more secure here than anywhere else.” “I heard a lot about clash- es but personally we never saw such things” she added. The lead actor Nitin Nash was amazed at the knowledge of people. “Wherever we went people used to visit us and they knew a lot about South Indian movies and actors, that was really surprising,” said Nash The movie is likely to be released in three languages in January. Kumar is also the music composer of the movie featuring seven songs. CORRIGENDUM Please read Parvez Ahmad Bhat in place of Parvez Ahmad Naqash in news story ‘Kashmir handicrafts unable to cash in on increasing Gulf demand’ that appeared on this page on October 30. Error regretted. India, Palestine sign MoU on techno park New Delhi, Oct 31: India and Palestine on Monday signed a memorandum of understanding (MoU) for setting up a Palestine-India Techo Park in Ramallah, the External Affairs Ministry said. In a statement here, the ministry said that during the visit of President Pranab Mukherjee to Palestine in Octo- ber last year, the announcement for setting up of park was made. According to the statement, India has announced a grant of $12 million for setting up the park with payment of $3 million each on half-yearly basis for two years. "The Palestinian side has made the land available for the project," it said. "Once completed, the Techno Park will serve as an IT hub in Palestine with complete IT facilities offering a one- stop solution to all IT-related service requirements, provid- ing state-of-the-art technology, hosting IT companies and foreign companies benefitting local business, universities and other institutions." The statement also said that the assistance was part of India's strong commitment to support the Palestinian cause. "The project will help job creation, business and other opportunities for young Palestinians," it added. (IANS) Banks to report frauds of `1 cr and above to CVC New Delhi, Oct 31: With several high-ticket alleged frauds like Vijay Mallya loan default case coming to fore, Central Vigilance Commission has now made it mandatory for the public sector banks to report to it all such matters involving funds over Rs one crore. Based on the reports, the anti-corruption watch- dog, which has hired four General Manager ranked officers from bank as advisors, will recommend whether CBI probe can be ordered. According to CBI data, in 2015, the agency had probed 171 cases of bank frauds involving funds of Rs 20,646 crore. In addition, CBI is also investigating the Ponzi schemes involv- ing funds of over Rs 1.20 lakh crore. The Commission will also call regular monthly meetings of senior officials of Reserve Bank of India (RBI), CBI and banks to monitor probe in suspected bank frauds of Rs 50 crore and above. The banks have been asked to share their reports of Fraud Monitoring and Reporting (FMR) mecha- nism with the CVC in the suspected fraud cases of Rs one crore and above. Till now this report was shared with the RBI only, Vigilance Commissioner T M Bhasin said. The banks will also now have to report the modus operandi of all the alleged frauds to the CVC which will share these details with other banks to ensure that systemic changes can be brought in to prevent such cases being repeated, he said. “Frauds were being reported by the Central Vigilance Officers of the banks to the RBI through the Fraud Monitoring and Reporting (FMR) mecha- nism. Now the Commission has decided that fraud of Rs 50 crore and above will be regularly followed up by the CVC. “For this purpose, we will convene regular meet- ings where concerned people of CBI and RBI will be called and BSFC con- cerned banks,” T M Bhasin said. PTI CMYK

25 82 18 JK loses race in business reforms Kashmir, ‘Roseepaper.greaterkashmir.com/epaperpdf/1112016=/1112016-md-hr-11.… · Abdul Majid Zargar, senior Char-tered Accountant said

  • Upload
    others

  • View
    2

  • Download
    0

Embed Size (px)

Citation preview

Page 1: 25 82 18 JK loses race in business reforms Kashmir, ‘Roseepaper.greaterkashmir.com/epaperpdf/1112016=/1112016-md-hr-11.… · Abdul Majid Zargar, senior Char-tered Accountant said

11Greater Kashmir Srinagar | November 01, 2016, Tuesday

business twitter.com/greaterKashmir_facebook.com/DailygreaterKashmirepaper.greaterKashmir.com

MCX 24kt/10gm

Sensex27930.21

Gold`30,057

Nifty8625.70

Silver`42,459

Crude3,265

Dollar`66.75

Euro`73.05

Pound`81.18

Saudi Riyal`17.80

Dirham`18.18

Kuwaiti Dinar`220.26

Yen`0.64

Ch Yuan`9.8512.3011.30 `25 `82 `18

S-00

2

AL-MAHMOOD WELFARE INSTITUTEPARIMPORA, ByPASS, OPPOSITE FRUIT MANDI, SRINAgAR 190017.

JOB OPPORTUNITYNeeded:POST: Required:Teacher: 2 No.Helper (kitchen): 1 No.Helper (Cleaning): 1 No.Gate Keeper: 1 No.

Only male candidates are requiredInterested candidates are directed to:

either visit the office personally or call @ 09107008226

Notice iNvitiNg Bids

Sealed bids are invited for auction of 63 KVA 3 phase water-cooled Gen Set lying at GK Printing Press 14-B Industrial Estate Sanant Nagar Srinagar on “ as is where is” basis. The sealed bids addressed to “ General MANAGER GREATER KASHMIR, PRESS ENCLAVE 6 PRATAP PARK Residency Road Srinagar will be received by or before 5th Nov. 2016, Saturday up to 3.00 P.M. which will be opened on the same day in presence of interested bidders who may choose to be present. Successful bidder shall have to deposit the bid amount on the spot. However, the management reserves the right to reject any or all bids without assigning any reason.

General Manager,Greater Kashmir

M-0

06

JK loses race in business reformsGujarat figures at number 1 in DIPP-WB Group report; JK at 29th rank falls behind Haryana, Bihar, Jharkhand

In troubled Kashmir, ‘Rose Garden’ shoots unhindered

On last date of VAT return, official website turns ‘hostile’Assessees decry ‘malfunctioning’ of website

GK News NetworK

Srinagar, Oct 31: Faring again poor, Jammu and Kashmir State has figured at 29 in the list of states ranked in accordance with imple-mentation of Business Reforms 2015-16.

Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, in partnership with the World Bank Group, released the results of ‘Assessment of State Implementa-tion of Business Reforms 2015-16.’

The Assessment studies the extent to which the states have implemented DIPP’s 340-point Busi-ness Reform Action Plan (BRAP) for States/UTs 2015-16, covering the

period July 1, 2015 to June 30, 2016, a PIB handout here said.

The BRAP includes recommen-dations for reforms on 58 regula-tory processes, policies, practices or procedures spread across 10 reform areas spanning the lifecycle of a typical business.

Data for this assessment was collected from State Governments on the BRAP portal. The portal, among the first of its kind global-ly, allowed State Governments to submit evidence of implemented reforms.

At least 32 State and UT Govern-ments submitted evidence of imple-mentation of 7,124 reforms. “These submissions were reviewed by the World Bank team and validated by

DIPP’s team to study whether they met the objectives of the BRAP,” the handout said, adding that the portal allowed for collaborative dialogue

between DIPP and the State Governments in finalizing the evidence submitted.

A total of 6,069 reforms were approved as implement-ed or not appli-cable on the portal.

The results of the assess-ment demon-

strate that States have increasingly risen to addressing the challenge of making it easier to do business.

The national implementa-

tion average stands at 48.93%, significantly higher than last year’s national average of 32%. “This demonstrates the great progress made by States this year,” it said.

As per the results, Gujarat has been ranked number 1 state in the implementation of Business Reforms 2015-16, while Andhra Pradesh has scored second posi-tion.

Interestingly, states of Haryana and Jharkhand are far ahead of Jammu and Kashmir. The state of Bihar ranks at 21 while Jammu and Kashmir has ranked at 29. Only two states, Nagaland at 31 and Megha-laya at 30 are behind Jammu and Kashmir.

saqib MaliK

Srinagar, Oct 31: On the last date of filing of Q1, Q2 VAT returns 2016-17 on Monday, many assessees were left disappointed as according to them the website of the department of Commer-cial Taxes malfunctioned for “most of the day.”

Several traders and businessmen told Greater Kashmir that they were unable to upload details of returns on the department’s website despite repeated attempts by them, as the web-site was displaying “error” most of the time.

“The assessees have been calling us that they could not file returns due to the malfunctioning of the website. The site kept showing error when one was trying to file the VAT returns,” Faiz Bakshi, secretary general, Kashmir Chamber of Commerce and Industry ( KCCI) said.

Saying that the chamber would take up the issue with the state government, Bakshi alleged that thousands of assess-ees were unable to file the returns for none of their faults.

Abdul Majid Zargar, senior Char-tered Accountant said his staff failed to file several returns throughout Monday afternoon. “However, the assessees who filed the returns in the morning hours were able to upload them," he added.

“There was total panic and chaos among the assessees due to the mal-functioning of the website.

“Besides, it was illogical and unrea-sonable on the part of state government not to extend the date for filing of VAT returns as several traders don't have access to the Internet while others have

Internet facility in their offices and shops which remain shut for most of the time due to the unrest," Zargar said.

Aijaz Shahdar, a trader and head General Trade Sector of Kashmir Eco-nomic Forum, said he too received sev-eral calls on Monday afternoon from traders complaining that they were unable to file returns due to errors on the website.

“Many members of the trading and business class could not file the VAT returns due to the erratic functioning of the website. The problem in the web-site was experienced at all the business establishments, offices, and auditors’ offices on Monday especially after 4pm as the website was getting hung,” Shah-dar said.

Pointing out the erratic function-ing of the website, Chartered Accoun-tant Tahir Rashid said he faced issues with the website for uploading various forms throughout the day. He said on contacting the department, the traders were told to “make do with whatever is available”.

“The main form was getting sub-mitted but uploading of other forms

was a problem. The website was reflect-ing ‘that upload sheet is invalid’. This error was pop-ping up on screen,” Rashid said.

When contacted, P I Khateeb, Com-missioner Commer-cial Taxes said the website was hung for a “temporary duration” due to an “unprecedented last

moment rush of assessees trying to file e-returns.”

Khateeb said, “the website was restored soon.”

“Ideally assessees should have filed returns prior to 5 PM and not left it for last moment. As assessees in large numbers were trying to file returns at the last moment, the web-site was getting hung. We had to tem-porarily shutdown the website in the evening for sometime but restored it soon. Assessees have time till 12 midnight to file returns,” Khateeb said.

To mention, while union finance ministry recently extended date for filing of Income Tax Returns (ITR) to December 31 for Jammu and Kashmir, the state government turned down demand of Kashmir Inc to extend the date for filing VAT returns.

Kashmir-based traders had approached the state government requesting for time extension in view the continuous strikes and Internet gag in Kashmir. But their plea was turned down.

HarooN MiraNi

Srinagar, Oct 31: Even as Kashmir remained caged amid continued curfews and shut-downs for the last more than three months, a film crew from South India completed shoot-ing of a Telugu film in a back to back schedule stretching over a month here.

With people and traffic off the roads, the film crew backed by elaborate securi-ty had literally entire Kash-mir to themselves, a dream come true for any director.

The movie ‘Rose Garden’ revolves around the story of a Kashmiri girl and a Hyder-abad journalist.

“When we came here there were more military personnel than civilians on the ground. The situation was such that at first we were frightened and were in doubt whether to do shooting or pack up,” said G Ravi Kumar, director of the movie at a presser here.

“But then the Chief Min-ister, the DG Police and the tourism officials came for-ward to help us. They gave us tremendous support, pro-vided security and permis-sions on fast-track basis. It is due to these reasons that we completed the shooting within a month.”

Besides a contingent of Kashmir police, the crew was also accompanied by CRPF personnel.

“We shot at Gulmarg, Sonamarg, Mughal gardens, Dal Lake and many other

places. Nowhere did we feel insecure. There was help at every corner,” Kumar said, adding that the movie was loosely based on the current situation of Kashmir.

The movie stars South India actor Nitin Nash and Farnaz Shetty from Mumbai. Police had deputed a security official with the film crew as liaison officer who advised the crew when to travel, where to shoot and when to leave. “We had to get up early in the morning and get going by 3.30 AM. We never trav-elled during the day,” said Shetty. “But the hospitality of people has been exemplary.”

Shetty said that given the situation, both Kashmiris as well as outsiders are fright-ened. “Media too has exag-gerated the situation. People living here are scared and we outsiders coming to Kashmir also feel scared,” she said.

“People live here amidst a lot of restrictions but still they are so warm and hospi-table. I never felt more secure here than anywhere else.”

“I heard a lot about clash-es but personally we never saw such things” she added.

The lead actor Nitin Nash was amazed at the knowledge of people. “Wherever we went people used to visit us and they knew a lot about South Indian movies and actors, that was really surprising,” said Nash

The movie is likely to be released in three languages in January. Kumar is also the music composer of the movie featuring seven songs.

Corrigendum Please read Parvez Ahmad Bhat in place of Parvez Ahmad Naqash in news story ‘Kashmir handicrafts unable to cash in on increasing Gulf demand’ that appeared on this page on October 30. Error regretted.

India, Palestine sign MoU on techno parkNew Delhi, Oct 31: India and Palestine on Monday signed a memorandum of understanding (MoU) for setting up a Palestine-India Techo Park in Ramallah, the External Affairs Ministry said.

In a statement here, the ministry said that during the visit of President Pranab Mukherjee to Palestine in Octo-ber last year, the announcement for setting up of park was made.

According to the statement, India has announced a grant of $12 million for setting up the park with payment of $3 million each on half-yearly basis for two years.

"The Palestinian side has made the land available for the project," it said.

"Once completed, the Techno Park will serve as an IT hub in Palestine with complete IT facilities offering a one-stop solution to all IT-related service requirements, provid-ing state-of-the-art technology, hosting IT companies and foreign companies benefitting local business, universities and other institutions."

The statement also said that the assistance was part of India's strong commitment to support the Palestinian cause.

"The project will help job creation, business and other opportunities for young Palestinians," it added. (IANS)

Banks to report frauds of `1 cr and above to CVCNew Delhi, Oct 31: With several high-ticket alleged frauds like Vijay Mallya loan default case coming to fore, Central Vigilance Commission has now made it mandatory for the public sector banks to report to it all such matters involving funds over Rs one crore.

Based on the reports, the anti-corruption watch-dog, which has hired four General Manager ranked officers from bank as advisors, will recommend whether CBI probe can be ordered.

According to CBI data, in 2015, the agency had probed 171 cases of bank frauds involving funds of Rs 20,646 crore. In addition, CBI is also investigating the Ponzi schemes involv-ing funds of over Rs 1.20 lakh crore.

The Commission will also call regular monthly meetings of senior officials of Reserve Bank of India (RBI), CBI and banks to monitor probe in suspected bank frauds of Rs 50 crore and above.

The banks have been asked to share their reports

of Fraud Monitoring and Reporting (FMR) mecha-nism with the CVC in the suspected fraud cases of Rs one crore and above. Till now this report was shared with the RBI only, Vigilance Commissioner T M Bhasin said.

The banks will also now have to report the modus operandi of all the alleged frauds to the CVC which will share these details with other banks to ensure that systemic changes can be brought in to prevent such cases being repeated, he said.

“Frauds were being reported by the Central Vigilance Officers of the banks to the RBI through the Fraud Monitoring and Reporting (FMR) mecha-nism. Now the Commission has decided that fraud of Rs 50 crore and above will be regularly followed up by the CVC.

“For this purpose, we will convene regular meet-ings where concerned people of CBI and RBI will be called and BSFC con-cerned banks,” T M Bhasin said. PTI

CMYK