'Had they agreed to our demands that we raised two years ago, we would have never started our agitation again.'
Six years after the rollout of the biggest indirect tax reform in India, Goods and Services Tax (GST) revenue of Rs 1.5 lakh crore every month has become a new normal and tax officers are focusing on dealing with fraudsters who are adopting newer modus operandi to game the system, causing loss to the exchequer. To apprehend black sheep, who operate as syndicates and create fake entities on the basis of forged documents to claim input tax credit (ITC), tax officers have started using data analytics, artifical intelligence and machine learning aiming to curb evasion, which was over Rs 3 lakh crore since inception of GST. It was over Rs 1 lakh crore in 2022-23. Thinktank Global Trade Research Initiative (GTRI) said the most critical pending GST reform is upgradation of GST Network to prevent fake supplies and fraudulent claims of Input Tax Credit (ITC).
This case revolves around the establishment of clusters of Centers of Excellence (CoEs) in the state of Andhra Pradesh, with a total estimated project value of Rs 3,300 crores.
On Saturday evening, when 86-year-old, Paris-based artist SH Raza came to Dhoomimal Art Gallery in Delhi's Connaught Place, to inaugurate a show of his own works put together by his nephew, he was shocked to find that barring a few of his drawings, all the other works were fakes.
Beckham, who played for Manchester United and Real Madrid as a midfielder, is working for Qatar, which has been criticised for its treatment of foreign workers, LGBTQ+ rights and restrictive social laws.
'Alas, in this scheme there is nothing to stop the black money flows of the future.' 'On the contrary Modi has sown the seeds of more, through the issue of Rs 2,000 notes.' 'But have you heard one politician decrying this aspect of the scheme?' 'They must be secretly rejoicing that while Modi is taking away their past, he has not shut the door on their future,' says banker S Muralidharan.
"It is not possible to check supply of fake notes at the source itself as "there is a state support"
The government may not be able to put in place the Digital India Act, which aims to replace over 23 years old IT Act 2000, before the next general election, as there is not much time left for extensive consultation, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Wednesday. While speaking at the Global Technology Summit 2023, the minister, however, said the rules for the Digital Personal Data Protection Act will be out later this month for consultation and are expected to be notified by the end of December or early January. Chandrasekhar said the existing IT Act doesn't even have the word internet, and there is a consensus that it can be safely superseded and replaced.
The elections will begin on April 19 followed by subsequent phases on April 26, May 7, May 13, May 20, May 25 and June 1.
A classic example of a leader who has chosen to risk everything for his vision.
The Bombay High Court issued a notice to India and Delhi Capitals cricketer Rishabh Pant and the Mumbai police.
The company's reaction follows after some incidents of Nokia mobile phones exploding were reported from states such as West Bengal and Gujarat in the past few days.
The Reserve Bank of India has now said failure to report such cases might lead to penal action.
Tabrez Telgi allegedly was the brain behind the printing, packaging and marketing of fake stamps.
The gold-mad city has woken up to a massive scam as investigators discovered that at least 200 ounces of fake bullion, worth about $250,000 have been traded at the island`s fabled jewellery souks so far this year, Financial Times reported.
Telecom industry body COAI has approached the information technology ministry for removal of fake and misleading messages from social media platforms like Facebook, Whatsapp and Twitter linking spread of COVID-19 to 5G technology. The Cellular Operators Association of India (COAI), whose members include Reliance Jio, Bharti Airtel and Vodafone Idea, said the claims linking 5G with coronavirus are baseless as 5G networks have not yet been installed in the country and even 5G trials are yet to be started by the telecom operators. In a letter dated May 15 to MeitY additional secretary Rajendra Kumar, COAI director general S P Kochhar said: "To safeguard the national interest, we request your good office to kindly instruct all the social media platforms such as Facebook, Watsapp, Twitter, etc, to remove all such posts and misleading campaigns from their platforms on an urgent basis." People have been sharing audio and video messages on social media platforms in which 5G towers are being blamed for rise in casualties across the country even though none of the companies have installed 5G technology anywhere in India.
For every one million currency notes, there are eight fake notes floating in the country. While the percentage of fake notes may still be 0.001, the government is concerned as their circulation has grown in alarming quantities over the past few years.
Aiming to check the menace of fake Indian currency notes, the Central Bureau of Investigation is creating a national data bank of such notes to trace their origin.
"Available inputs suggest that fake Indian currency notes are printed in a neighbouring country and pushed into India through neighbouring countries," Minister of State for Finance Namo Narain Meena told the Rajya Sabha in a written reply.
Many fake websites seeking donations for Uttarakhand flood relief fund are emerging threat for Internet users as these are spreading malicious programmes, security solutions provider McAfee said.
The Supreme Court on Friday granted interim bail till July 11 to former Delhi minister Satyendar Jain on medical grounds in a money laundering case being probed by the Enforcement Directorate.
China has formally apologised to Nigeria for alleged export of fake drugs including some labelled as 'Made in India' by some Chinese firms to the country and assured to take punitive action against those involved in the scandal.
Telecom operator Bharti Airtel's CEO has warned customers about rising cases of cyber-frauds, citing a recent instance of a fraudster who posed as company executive and under the guise of updating KYC form, tricked a user into revealing bank details to transfer large amount from the bank account. In an email outreach to subscribers, Gopal Vittal, CEO of Airtel urged users to be vigilant against such cases of cyber fraud that are becoming "alarmingly frequent". Vittal spoke of a recent case where a cyber-fraudster posing as company executive called up an Airtel customer on the pretext of updating his Know Your Customer (KYC) form, tricked him into revealing his bank details and transferred a large sum of money from his bank account.
Writes to Trai, Mumbai Police to catch unauthorised SMS senders
The CBI has registered an FIR against an officer of Punjab National Bank (PNB), now suspended, for allegedly cheating the state-run lender to the tune of Rs 168.59 crore through 34 fake bank guarantees, officials said Thursday. Nearly four years after LoU (letter of undertaking) scam allegedly perpetrated by uncle-nephew duo of Mehul Choksi and Nirav Modi bled the PNB to the tune of about Rs 13,000 crore, bank official Priya Ranjan Kumar followed similar modus operandi to issue 34 fake bank guarantees without making any entries in its core banking system Finacle, according to the CBI FIR. "As per the interim investigation report dated November 27, 2022, it emerges that the fraud has been perpetrated by the bank staff in collusion with some unknown persons through illegal and unauthorized usage of the bank's systems.
'There are unscrupulous traders who create fake invoices by showing bogus e-way bills, movement of goods.' 'Since the entities registered across different states, and kept on changing their numbers, tracing them was difficult.'
The CBI on Friday told the Supreme Court that RJD supremo Lalu Prasad was playing badminton after being enlarged on bail in a fodder scam case on medical grounds, as it sought cancellation of the relief granted to the former Bihar chief minister.
The World Health Organization (WHO) estimates that more than 30 percent of medicines sold in Africa, Asia, and Latin America are spurious.
The judge had reserved the order after hearing arguments on Sisodia's plea seeking relief claiming that his custody was no longer required for investigation.
Earlier, RBI had refused to disclose information about consultation undertaken before the demonetisation move was announced by the prime minister on November 8.
Prime Minister Narendra Modi on Friday urged bureaucrats to make national interest the sole basis of their every decision, saying the country has put its faith in them and they must uphold that trust.
The government will soon come out with guidelines for social media influencers, making it mandatory for them to declare their association with the product they endorse, sources said.
After detection of fake currency notes with face value of several crores in its Dumariyaganj branch, the largest public sector lender State Bank of India has put all its 1,350 branches in Uttar Pradesh on alert, asking them to be extra cautious.
Patkar and his three partners allegedly bagged Mumbai civic body contracts fraudulently for managing COVID-19 field hospitals during the pandemic, the official said.
Insurance companies may soon face goods and services tax (GST) audits as tax authorities plan a "deep dive" into their business practices to check for the possibility of a raft of tax-linked irregularities. Several insurance companies are being probed for wrongly availing of the input tax credit without the underlying supply of goods and services based on fake invoices generated by their channel partners and intermediaries. "We want to deep dive into the overall business and see if there are further taxation issues besides commissions, which are already being investigated," a senior official of the Central Board of Indirect Taxes and Customs said.
Police on April 5 arrested two staffers of DGCA for allegedly helping people to obtain pilot licences using forged documents.
'Seven months he has been in jail for no reason.'
In areas bordering Bangladesh, some have received strikingly high deposits in Jan Dhan accounts, said sources.
About 64 per cent of pirated goods seized in Europe last year came from China.
The IT and ITeS Industry Association of Andhra Pradesh (ITsAP) has cautioned the youth to be vigilant over fake job offers in these sectors.
