BOMBAY HC 

Bombay High Court: IITs must allot vacant seats to students who got the seats but couldn’t pay Round 1 fee (OCT 19, 2022)

In order to be admitted, two candidates who were given seats in the first round of JEE Advanced counselling but were unable to pay the fees filed an appeal with the Bombay High Court. 

The High Court took note of their arguments and on Tuesday, October 18, requested that IIT Bombay and IIT Gandhinagar take into consideration admitting them if seats are still available.

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GST

One-time offer to settle minor GST offences in works (OCT 19, 2022)

The scheme will not cover wilful tax evasion, he said. Repeat offenders and offenders against whom enforcement agencies have initiated will also not be eligible. The idea is to de-clutter courts and dispose of cases arising because of differences in the interpretation of GST provisions, the official said. 

The proposed scheme is likely to be on the lines of the Centre's 'Sabka Vishwas Scheme' of 2019, which sought to resolve all legacy disputes relating to erstwhile service tax and central excise.

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BUSINESS NEWS 

Vodafone Idea board to meet on October 21 to consider fundraising via convertible debentures (OCT 19, 2022)

The meeting comes at a crucial time, when Indus Towers, one of the main tower providers of Vodafone Idea, has demanded the telco pay up its dues. Shares of the telco gained after the fundraising announcement.

Vodafone Idea reportedly owes over ₹7,000 crore to Indus Towers. The tower company has asked the telco to clear dues or risk losing access to towers from November.

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NEWS AT GLANCE 

  • UN Secretary-General Antonio Guterres arrives in Mumbai on three-day visit to India.  
  • Centre issues final gazette notification for delimitation of wards for Municipal Corporation of Delhi.
  • FCI to construct over one hundred 11 Lakh mt modern steel silos in 12 States

WORD OF THE DAY 

The Magna Carta (“Great Charter”) is a document guaranteeing English political liberties that was drafted at Runnymede, and signed by King John on June 15, 1215, under pressure from his rebellious barons. By declaring the sovereign to be subject to the rule of law and documenting the liberties held by “free men,” it provided the foundation for individual rights in Anglo-American jurisprudence.

MARKET TODAY (as on 19.10.2022)

BSE SENSEX                59,107.19 INR▲ +146.59 (+0.25%)

NIFTY 50                       17,512.25 INR▲ +25.30 (+0.14%)

1 US Dollar = 82.98 Indian Rupee (Last updated · 19 October at 1:06 pm UTC)

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