(BS) Tata Steel Limited has been issued a show cause notice over alleged discrepancies in availing Input Tax Credit (ITC) totaling ₹1,007 crore during the period of the financial year 2018–19 to 2022–23. The steel major got the notice from the Office of the Commissioner (Audit), Central Tax, Ranchi. The notice, dated June 27 and received by the company on June 28, directs Tata Steel to explain why the Goods and Services Tax (GST) amount should not be demanded and recovered under Section 74(1) of the Central Goods and Services Tax (CGST) Act and the corresponding provisions of the State…
Author: Aruna Sharma
(BS) State-run Oil India (OIL) is evaluating critical mineral blocks in Latin America, preparing offers to acquire lithium-rich areas — key to India’s net-zero journey and a major supply choke point — industry sources told Business Standard. India is entirely import-dependent for lithium, making mineral security a critical pillar in the country’s energy transition plan. A team from OIL — the first state-run oil firm to set up a dedicated department for critical minerals — visited the so-called Lithium Triangle last month. The region, comprising Argentina, Bolivia, and Chile, is a global hotspot for lithium exploration. The team assessed assets…
(HT) The 24-hour ban on the Char Dham Yatra was lifted on Monday, officials said, a day after it was suspended due to heavy rain and a cloudburst that triggered a deadly landslide near Barkot in Uttarakhand. Garhwal Divisional Commissioner Vinay Shankar Pandey confirmed the development. “The 24-hour ban on Char Dham Yatra has been lifted,” he told ANI news agency. He added that District Magistrates along the yatra route have been asked to stop vehicles depending on the weather situation in their respective areas. The pilgrimage was halted on Sunday after the India Meteorological Department issued a heavy rain alert. A cloudburst followed soon…
(HBL) The finance ministry has asked public sector banks (PSBs) to look at monetising their investment in subsidiaries by listing them at bourses after further scaling up operations so that they realise good return. There are about 15 subsidiaries or joint ventures of PSBs lined up for initial public offering (IPO) or divestment in medium to long term, sources said. Wherever required banks should invest funds to scale up operations of their subsidiaries or joint ventures, sources said, adding, banks can look at unlocking value at an opportune time. As a precursor to monetisation, sources said, banks should improve governance, professional decision-making and bring…
(HT) The Indian Navy’s stealth frigate INS Tabar responded to a distress call on Sunday from the Pulau-flagged oil tanker MT Yi Cheng 6, which had reported a major fire in its engine room and total power failure. The fire-hit vessel, carrying 14 crew members of Indian-origin, was en route from Kandla, India to Shinas, Oman when the emergency occurred. Upon receiving the distress signal, INS Tabar rapidly mobilized its firefighting team and equipment, deploying them to the affected tanker via ship’s boat and helicopter. In a coordinated operation, 13 Indian Navy personnel along with 5 crew members from the…
(HT) Chief minister (CM) Sukhvinder Singh Sukhu on Sunday said that the Himachal government is preparing to launch a large-scale anti-drug campaign in the near future. “Mapping is being conducted at the panchayat ward level to facilitate targeted intervention,” he stated. He was at the 12th HP Police Half Marathon in Shimla organised by police department in Shimla. Sukhu felicitated the winners of the marathon, which featured participation in men’s, women’s, and senior citizens’ (75+ years) categories. Addressing the gathering, the CM expressed serious concern over the involvement of government employees in drug-related activities. He said that strict action has…
(ET) All schools and educational institutions in Manali and Banjar sub-divisions of Kullu district, Himachal Pradesh, will remain closed on Monday, 30 June 2025, due to a warning of heavy rainfall by the Indian Meteorological Department (IMD). The Sub-Divisional Magistrates of both regions issued separate orders stating that the decision has been taken to ensure the safety of students and staff, as movement may be unsafe during the expected downpour. IMD issues rain alert According to the IMD’s alert, heavy to very heavy rainfall is expected in the area. The order from the Manali SDM mentioned that such weather conditions…
(ET) State-owned power giant NTPC on Sunday said that its step down subsidiary NTPC Renewable Energy has fully commissioned 220-MW Shajapur Solar Project (Unit-II) after operationalising third and last part capacity of 120 MW. The NTPC Renewable Energy is an arm of NTPC Green Energy, which is a subsidiary of NTPC Ltd. According to a regulatory filing, consequent to successful commissioning of third and last part capacity of 120 MW out of 220 MW, Shajapur Solar Project (Unit-II) of NTPC Renewable Energy Ltd, a wholly-owned subsidiary of NTPC Green Energy Ltd at Shajapur, MP, is declared as commercially operational with…
(The New Indian Express) In a significant development, Indian Railways has proposed to prepare and release the reservation chart eight hours before a train’s departure, replacing the current practice of releasing the chart four hours before departure. This new timeline is expected to come into effect from 1st July this year. The decision follows a series of meetings between railway officials and Railway Minister Ashwini Vaishnaw, aimed at improving convenience for passengers, particularly those holding waitlisted tickets. Confirming the development to this newspaper, a senior railway official said on Sunday, “To improve your travel uncertainty, Railway Ministry has proposed the…
(The New Indian Express) The monsoon on Sunday covered Delhi two days after the normal date of June 27 and advanced over the remaining parts of the country nine days before the usual date of July 8, the India Meteorological Department (IMD) said. According to IMD data, this is the earliest the monsoon has covered the entire country since 2020 when it did so by June 26. The rain-bearing system usually makes its onset over Kerala by June 1 and covers the entire country by July 8. It starts retreating from northwest India around September 17 and withdraws completely by…