INDIAN (B)

India’s ban on popular Chinese video app TikTok is resulting in “financial losses” of up to $500,000 a day for its developer, the company said in a court filing. TikTok allows users to create and share short videos with special effects and is one of the world’s most popular apps. It has been downloaded by nearly 300 million users so far in India.



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Tax experts said that companies were relying on VAT rulings and clearing cash dues to employees and suppliers before paying GST and the ruling will change this practice. “Businesses should be very cautious in understanding the distinction between the VAT position and the GST position as the consequences could be very severe. This decision states this aspect very clearly,” said M S Mani, partner at Deloitte India.



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After a meeting with Jet management, NAG said in a communication to members that 410 pilots had resigned between last September and March 31, 2019 and that the airline now has on its rolls about 1,527 pilots. “Wet lease plans are being looked at and clarity will be provided when modalities will be worked out and a concrete plan is available,” it said.



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They said while Chanda has been summoned for May 3, Deepak and his brother Rajiv have been asked to depose on April 30 before the investigating officer of the case and record their statements under the Prevention of Money Laundering Act (PMLA).



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The United States on Monday demanded that buyers of Iranian oil stop purchases by May 1 or face sanctions, ending six months of waivers which had allowed Iran’s eight biggest buyers, most of them in Asia, to continue to import limited volumes.



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“We are grateful to Jaitley for his generosity in granting us an audience of more than an hour… the key areas of our discussion (were): explaining current state of Jet and how we have been reduced to this situation; contribution of Jet to the Indian economy — providing livelihood to (about) 22,000 people, supporting (about) 1 lakh jobs, feeding 4 to 5 lakh mouths,” Dube’s mail said.



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The US has put India in a tight energy fix and strategic tangle, ending the waiver that allowed New Delhi to buy Iranian oil even as it whittled down supplies from Tehran. Other countries that also lost the waiver in the face of the Trump administration’s hostility towards Iran are all American allies – Japan, South Korea, Italy, Greece, Turkey, and Taiwan.



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Come next January and India will be able to know the exact position of aircraft flying over the vast stretches of Indian Ocean falling in airspace of its own as well as that administered by it, every 30 seconds.



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The upcoming World Cup has made London a preferred destination for sports enthusiasts and vacationers this summer. International curated tours operator Pickyourtrail witnessed 250% increase in bookings. “Given that a lot of tickets were allocated much in advance, it made it easier for travellers to plan,” said Hari Ganapathy, co-founder, Pickyourtrail.



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The ministry of corporate affairs, which is responsible for implementation of IBC, is expected to initiate action against the promoters, directors and even auditors in some cases, although it is stretched for manpower and resources, sources told TOI.



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