November 2019

Daily Current Affairs (09-11-19)

ECONOMY

SEPARATE HS CODE FOR KHADI

Related Topic in KAS Prelims Syllabus:

Economy [Paper-II]: Small-scale sector, India’s Foreign Trade

News

To make export exclusively categorized from the general league of textile products, Ministry of Commerce and Industries has allocated separate HS code for Khadi, the signature fabric of India.

Need for HS Code

  • Khadi and Village Industries products are eco-friendly and natural, and are in great demand in the International Markets.
  • Recognizing its potential to generate exports and its eco-friendly importance, the Ministry of Commerce had accorded deemed Export Promotional Council Status (EPCS) to Khadi and Village Industries Commission (KVIC) in 2006.
  • The status was given mainly to boost the export of Khadi products.
  • However in the absence of separate HS code, the export of Khadi products was difficult to categorize and calculate.

What is HS code?

  • HS Stands for Harmonized System and it is a six digit identification code.
  • It was developed by the WCO (World Customs Organization).
  • Custom officers use HS Code to clear every commodity that enters or crosses any international border.

[Source: Business Standard]

 

DOCUMENT IDENTIFICATION NUMBER (DIN)

Related Topic in KAS Prelims Syllabus:

Economy [Paper-II]: Indian Tax System

Information and Communications Technology (ICT) [Paper-II]: ICT and Governance – various Government schemes promoting use of ICT

News

  • Documentation Identification Number (DIN) system of Central Board of Indirect Taxes and Customs (CBIC) came into existence on 8th November 2019.
  • Government has already executed the DIN system in the direct tax administration.

DIN system in Indirect Tax administration

  • It has been created as per the direction of Union Minister for Finance and Corporate Affairs.
  • To begin with, in the indirect tax administration, the DIN would be used for search authorisation, summons, arrest memo, inspection notices and letters issued in the course of any enquiry.
  • As per the new system, any communication from GST or Custom or Central Excise department without a computer generated DIN, would be treated as invalid and shall be deemed to be as if it has never been issued.
  • DIN system would be extended to other communications by the end of December, 2019.
  • No communication would be issued without DIN except only if it is in the specified exceptional circumstances
  • CBIC has specified that any communication issued manually under exceptional circumstances would have to be regularised on the system within 15 working days of its issuance.

Advantages

  • DIN system would ensure greater accountability and transparency in the indirect tax administration.
  • It would also provide the taxpayer a digital facility to verify any communications.
  • This measure would create a digital directory for maintaining a proper audit trail of such communications.

[Source: Livemint]

 

POLITY & GOVERNANCE

OVERSEAS CITIZEN OF INDIA (OCI)

Related Topic in KAS Prelims Syllabus:

Indian Constitution [Paper-II]: Indian Constitution and its salient features

Why in News?

Indian government has revoked author Aatish Taseer’s Overseas Citizen of India card.

Background

  • An Overseas Citizen of India, or OCI, is a category introduced by the government in 2005.
  • Persons of Indian Origin (PIOs) of certain categories as specified in the Citizenship Act, 1955 are eligible for being OCI cardholders.
  • Some of the benefits for PIO and OCI cardholders were different until 2015, when the government merged these two categories.

Who is an OCI?

  • Ministry of Home Affairs defines an OCI as a person who was a citizen of India on or after January 26, 1950; or was eligible to become a citizen of India on that date; or who is a child or grandchild of such a person, among other eligibility criteria.
  • According to Section 7A of the OCI card rules, an applicant is not eligible for the OCI card if he, his parents or grandparents have ever been a citizen of Pakistan or Bangladesh.
  • This was the ground cited by the government in revoking the OCI card granted to Taseer, whose father was a Pakistani national.

Benefits for OCI cardholders

  • OCI cardholders can enter India multiple times and get a multipurpose lifelong visa to visit India.
  • They are exempted from registering with Foreigners Regional Registration Office (FRRO) no matter how long their stay.
  • If an individual is registered as an OCI for a period of five years, he/she are eligible to apply for Indian citizenship.
  • At all Indian international airports, OCI cardholders are provided with special immigration counters.
  • OCI cardholders can open special bank accounts in India, buy non-farm property and exercise ownership rights.
  • They can also apply for a driver’s license and PAN card.
  • However, OCI cardholders do not get voting rights, cannot hold a government job and purchase agricultural or farm land.
  • They cannot run for public office either, nor can they travel to restricted areas without government permission.
[Source: Indian Express]

 

FACTS OF THE DAY

SAMUDRA SHAKTI EXERCISE
  • India is jointly exercising its anti-submarine warfare corvette INS Kamorta along with Indonesian warship KRI Usman Harun, a multi-role corvette, in the Bay of Bengal as part of ”Samudra Shakti”.
  • Samudra Shakti is a Bilateral Naval Exercise between Indonesia and India.
  • The aim of the exercise is to strengthen bilateral relations, expand maritime co-operation, enhance interoperability and exchange best practices.
  • The joint exercises include manoeuvres, Surface Warfare exercises, Air Defence exercises, Weapon firing drills, Helicopter Operations and Boarding Operations.
FIRST CYCLONE SHELTER OF KERALA
  • Kerala’s first cyclone shelter is getting ready at Mararikulam in Alappuzha district.
  • Tenders will be invited soon for two other shelters in Thiruvananthapuram and Kozhikode.
  • Once completed, the shelter at Mararikulam will have all facilities to accommodate around 1,000 people at a time.
  • It consists of halls, kitchens, ramp for the differently abled, toilet blocks and generator.
  • The three-storey shelter is being built by the Kerala State Disaster Management Authority under the National Cyclone Risk Mitigation Project (NCRMP) of the Union government at a cost of ₹3.53 crore.
  • The project is funded by the World Bank and State government on 75:25 basis.
  • The Kudumbashree Mission has been appointed caretaker of the Mararikulam facility.

 

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