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Czech manufacturers bank on COVID tests to avoid a nationwide shutdown of industry

Czech Rep tops global COVID cases per capita
So far, strategy has avoided factory shutdowns
PORICANY, Czech Republic, March 12 (Reuters) - Czech manufacturing firms, a key part of European supply chains for the automotive and other industries, are banking on government-ordered mandatory coronavirus testing to avoid nationwide closures during a spike in infections.
Manufacturing, the backbone of the Czech Republic’s export-oriented economy, has so far been largely spared restrictions that have shut services and schools in the country of 10.7 million, which for weeks has been at the top of global rankings in per capita COVID-19 cases and deaths.
Czech auto and machine tool components supplier Benes a Lat said a government order for compulsory testing would help the Czech manufacturing industry avoid damaging closures. ....

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Gift vouchers are not 'goods' but 'instruments of consideration', rules Tamil Nadu AAAR

Gift vouchers are not ‘goods’ but ‘instruments of consideration’, rules Tamil Nadu AAAR
April 04, 2021
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Gift vouchers or pre-paid instruments are neither goods nor services, but instruments of consideration, an Appellate Authority for Advance Ruling (AAAR) has held in the matter involving Kalyan Jewellers.
The Tamil Nadu AAAR, in its recent ruling, clarified that GST is not applicable on the supply of vouchers, but on the underlying supply of goods/services at the time of redemption.
Sales promotion
Many retail brands such as Shoppers’ Stop, Amazon, and Croma, have disputed tax applicability during and even before the GST regime.
The applicant, Kalyan Jewellers, introduced the facility of different types of pre-paid instruments (PPI) as a part of sales promotion. These are called ‘Gift Vouchers/Gift Cards’ in trade parlance. ....

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Suez canal ends shipping backlog: statement

By Reuters Staff
Slideshow ( 2 images )
CAIRO (Reuters) - Suez Canal Authority (SCA) said that all 422 ships stranded by the grounding of the giant container ship Ever Given passed through the canal by Saturday, ending the backlog caused by the blockage.
Reporting by Moamen Said Atallah; writing by Mahmoud Mourad; editing by John Stonestreet ....

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Tsingshan to build $1.6 bln lithium battery plant in southern China

By Reuters Staff
2 Min Read
BEIJING, April 1 (Reuters) - Chinese nickel and stainless steel giant Tsingshan Holding Group said on Thursday it will invest 10.3 billion yuan ($1.57 billion) to build a lithium-ion battery plant in Guangdong province, which will be operated by the group’s battery unit.
Tsingshan’s battery manufacturing unit REPT Energy Co aims to expand its annual production capacity for lithium batteries from 6 gigawatt currently to 200 gigawatt capacity by 2025 and the new plant in Foshan city will be part of that expansion, the group said.
The plant will have an expected annual capacity of 30 gigawatt when it is completed in 2024, Tsingshan said in a statement. ....

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