Daily Current Affairs for UPSC, IAS, UPPSC/UPPCS, BPSC, MPPSC, RPSC and All State PCS Examinations (24 June 2020)

Daily Current Affairs for UPSC, IAS, UPPSC/UPPCS, BPSC, MPPSC, RPSC and All State PCS Examinations

End-to-end paperless documentation for exporters

Why in News ?

Central Board of Indirect Taxes and Customs (CBIC) launches end-to-end paperless documentation for exporters, a move aimed at saving time and cost of compliance for trade. Currently, the shipping bill is being printed in duplicate, namely customs copy and exporter copy.

Central Board of Indirect Taxes and Customs

About

The launch of paperless documentation on exports is a sequel to a similar initiative that was begun for imports from April 15, 2020.
Exporters will now have to present only digital copies of shipping bills bearing final let export order and gatepass to customs authorities.
CBIC in its continuing endeavour to promote ''faceless, contactless, paperless customs'' has decided to rely upon digital copies of the shipping bill and do away with the requirement of taking bulky printouts from the service centre or maintenance of voluminous physical dockets in the custom houses.
A secure QR coded shipping bill would be electronically sent to exporters after the customs allows export
This eliminates in one stroke the requirement of the exporters having to approach the customs officers for proof of export. This also makes the end to end customs export process fully electronic, from the filing of the shipping bill to the final order to allow export.

Central Board of Indirect Taxes and Customs (CBIC)

Constituted under the statute the Central Boards of Revenue Act, 1963 (54 of 1963) and is subordinate to the Department of Revenue under the Ministry of Finance.
The Central Board of Indirect Taxes and Customs is the nodal national agency responsible for administering Customs duties, Central Excise duties and Goods & Services tax, prevention of smuggling and administration of matters relating to Customs, Central Excise, Central Goods and Service Tax (CGST) and Narcotics to the extent under CBIC's purview.

‘YUKTI 2.0’ Platform for Higher Education Institutes in New Delhi

IN NEWS

Union Ministry of Human Resource Development launched an initiative ‘YUKTI 2.0’ to help systematically assimilate technologies having commercial potential and information related to incubated startups in our higher education institutions.
Earlier, the Ministry had launched the YUKTI (Young India combating COVID with Knowledge, Technology and Innovation) web portal on 11 April, 2020.

PURPOSE

The portal intends to cover the different dimensions of COVID-19 challenges in a very holistic and comprehensive way. Through this portal, the Ministry of Human Resource Development will endeavor to ensure that students, teachers and researchers in higher educational institutions are getting appropriate support to meet the requirements needed to advance their technologies and innovations.
YUKTI 2.0 is logical extension of earlier version of ‘YUKTI’, an initiative of MHRD, to identify ideas relevant in COVID pandemic. He also informed that all the outcomes of earlier version of ‘YUKTI’ will be released soon.
YUKTI 2.0 initiative is a very important step in mission of making Bharat ‘Atmanirbhar’ and more importantly, initiative like YUKTI 2.0 will also help in fostering the culture of innovation and entrepreneurship in our academic institutions.
It is a platform for students to enhance their creativity and also provides opportunity to farmers and businessmen to develop their innovation.
Massive Indian Novelty Depository (MIND)was the initial name of ‘YUKTI 2.0’.

CONCLUSION

This database will provide a clear picture of the state of the innovation ecosystem of our higher educational institutions. This will also help the government to identify bottlenecks and formulate appropriate policies to strengthen the innovation ecosystem in the country.
Ministry will provide the best possible help to support creative innovations and technologies to help the society at large. This portal will prove to be a milestone towards promoting innovations and entrepreneurship culture in our higher education system and involving youth in nation building.

Prelims Practice Question

Q1. Consider the following statement regarding Central Board of Indirect Taxes and Customs (CBIC)

1. Recently, Central Board of Indirect Taxes and Customs (CBIC) launched end-to-end paperless documentation for exporters.
2. It is the nodal national agency responsible for administering Customs duties, Central Excise duties and Goods & Services tax only.
3. Constituted under the statute the Central Boards of Revenue Act, 1963.
4. It is subordinate to the Department of Revenue under the Ministry of Finance.

Select the correct option

a. 3 and 4 only
b. 1,2 and 4 only
c. 1,3 and 4 only.
d. 1,2,3 and 4.

Answer: B (1,2 and 4 only)

Explanation: The Central Board of Indirect Taxes and Customs is the nodal national agency responsible for administering Customs duties, Central Excise duties and Goods & Services tax, prevention of smuggling and administration of matters relating to Customs, Central Excise, Central Goods and Service Tax (CGST) and Narcotics to the extent under CBIC's purview.

Q2. Consider the following statement and choose the incorrect statement-

A.) Union Ministry of Human Resource Development launched an initiative ‘YUKTI 2.0’ to help systematically assimilate technologies related to health sector.
B.) YUKTI 2.0 is logical extension of earlier version of ‘YUKTI’, to identify ideas relevant in COVID pandemic.

OPTIONS-

1. A only
2. B only
3. A and B
4. None of the above

Answer- 2

Explanation- Union Ministry of Human Resource Development launched an initiative ‘YUKTI 2.0’ to help systematically assimilate technologies having commercial potential and information related to incubated startups in our higher education institutions. YUKTI 2.0 is logical extension of earlier version of ‘YUKTI (Young India combating COVID with Knowledge, Technology and Innovation), an initiative of MHRD, to identify ideas relevant in COVID pandemic.