Agriculture Current Affair 3 July 2020

Farm exports dip 13 per cent on weak demand in FY20

India’s farm exports for financial year 2019-20 fell 13 per cent in value terms at $16.08 billion as against $18.58 billion in the previous year, as top grossing products such as cereals and livestock products were hit by weak demand and pricing issues during the year.

In Rupee value terms, exports fell 12 per cent in 2019-20 at ₹1,14,057 crore (₹1,29,344 crore in 2018-19), according to the latest data released by the Agriculture and Processed Food Exports Development Authority (APEDA).

Late fee for GSTR 3B capped at ₹500, if filed before Sept 30

GSTR 3B is a monthly self-declaration regarding actual tax paid, to be filed by a registered assessee. Under the law, if not filed within the stipulated date, a penalty of ₹50 per day is levied, if assessee has any tax liability due and ₹20 per day in case of ‘nil’ liability. In case of tax due, interest at the rate of 18 per cent is levied.

The government has decided to cap the maximum late fee for Form GSTR-3B at ₹500 per return for the tax period July 2017 to July 2020 subject to the condition that such GSTR -3B returns being filed before 30th September 2020,” a CBIC statement said. It needs to be noted that there will be nil late fees if there is no tax liability. If there is any tax liability then a maximum late fee of ₹500 per return would be applicable to such GSTR-3B returns.

Scientists resolve a sterility mystery in tur

Researchers from International Crops Research Institute for the Semi-Arid Tropics (ICRISAT), in Patancheru in Hyderabad, and their collaborators have unravelled a molecular mechanism involved in controlling male fertility in pigeonpea (tur) crop, making it possible to develop better hybrid crops at reduced cost and efforts in future.

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