Govt imposes stock limits on pulses to contain spiralling prices

Ministry of Consumer Affairs, Food & Public Distribution in a media release said that imposition of stock limits on tur and urad to be effective with immediate effect till 31st October

"The decision is another step taken by the Government to crackdown on prices of essential commodities," it said.

The Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2023 has been issued with immediate effect.

Under this order, stock limits have been prescribed for tur and urad for all states and Union Territories (UTs).

Stock limits applicable to each of the pulse individually will be 200 metric tonnes (MT) for wholesalers; 5 MT for retailers; 5 MT at each retail outlet and 200 MT at depot for big chain retailers; last 3 months of production or 25% of annual installed capacity, whichever is higher, for the millers.

"In respect of importers, the importers are not to hold imported stock beyond 30 days from the date of Customs clearance," the Ministry said.

This is essential to expedite the process and finish it prior to June 30th. Failure to take timely action will lead to the inactivation of your 10-digit PAN from July 1st.

If you are eligible for a tax refund due to overpayment, the refunds will not be processed, and any applicable interest on the refund amount will not be provided for the period in which the PAN is inoperative.

Further, higher rates of tax deducted at source (TDS) and tax collected at source (TCS) will apply.

An inoperative PAN will result in the inability to file income tax returns. It is also necessary to link PAN as per the regulations of the Securities and Exchange Board of India (SEBI) in order to invest in mutual funds and stocks.

You can seed your Aadhaar with PAN through the income tax e-filing website (incometax.gov.in).