The Samajwadi Party leader was questioned in connection with the alleged bribery scandal involving Flex Industries and a senior excise official.
The government on Wednesday raised the import tariff value of gold at $430 per ten grams and that of silver to $639 per kg as prices of the precious metals have risen in the global market.
The comments come at a time when the Supreme Court-constituted Special Investigation Team has detected funds worth about Rs 4,479 crore (Rs 44.79 billion) held by Indians in a Swiss branch of HSBC bank, while unaccounted wealth totalling Rs 14,958 crore (Rs 149.58 billion) have been traced within home.
CBEC has said a duty-free shop in a Customs area should not be treated as a warehouse.
The government on Tuesday cut the import tariff value on gold and silver to $396 per 10 gram and $575 per kg, taking into account weak global trends.
A pick-up in low-cost cigarette consumption helped India's largest cigarette maker boost margins
Shutting of stores had not stopped alcohol sales. On the contrary, it had increased black market operations and peddling of illicit hooch, which could cause death/serious injury.
The Directorate of Revenue Intelligence (DRI) has slapped a Rs 5,500-crore show-cause notice on Adani group for alleged over-valuation of capital equipment imports.
A recent data released by the Central Statistics Office (CSO) confirm that both the manufacturing and mining sectors shrunk in 2013-14 with fall in output.
The government is going all out to spread awareness about the new indirect tax regime, and training lawmakers is being seen as a necessary first step.
Ironically, West Bengal, which has been seeking a postponement of the GST roll-out, has fared better among most other states.
If the government tries to bring in real estate under GST now, it will be a typical case of biting more than what one can chew, says Sukumar Mukhopadhyay.
GST reform has been hanging fire since 2006-07.
Top management of firms should be summoned for a few specified reasons and after written justification at a senior level.
The list of exempted goods from central excise duty has shrunk from 400 items in 2011-12 to 300 now.
The changes made in the revised GST draft throw up fresh issues but, overall, most of these look sensible, says T N C Rajagopalan.
The Centre is likely to introduce the Central GST and integrated GST bills in late November or early December in the ongoing session in the form of money Bills.
The confidence that GST Network is capable of handling the returns, payments, reconciliation, refunds, etc., has been badly shaken.
Finance Minister Pranab Mukherjee presented his 5th Budget in Parliament on Friday.
The entire Opposition walked out of the Lok Sabha during the presentation of budget by Finance Minister Pranab Mukherjee, dubbing it 'highly inflationary' as he partially rolled back the stimulus by hiking the ad velorum component of excise duty on large cars and multi-utility vehicles by two per cent to 22 per cent.
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
Here is the entire text of the Finance Minister Pranab Mukherjee's Budget Speech:
The goods and services tax will level the playing field for different sectors of industry, including domestic manufacturing.
'Appellants may not lap up the scheme because, first, to do so would amount to admission of guilt, and second, they may have smelled victory before higher appellate forums,' notes S Murlidharan.
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To get what it thinks are its dues, its brass have directed; construction, realty, renting of property, personnel supply, security & goods transport among those under lens
A robust dispute settlement system would help the government unlock tax revenues, and also aid ease of doing business.
Never before in post-reforms India have Union Budgets seen a steady reduction in fiscal deficit for five consecutive years, points out A K Bhattacharya.
Govt doesn't buy restaurants' input tax excuse and has swing into action and looking into profiteering complaints on social media against prominent restaurant and franchise chains.
Simplifying the processes will lead to greater efficiencies. Bad processes will not help even if implemented well, says T N C Rajagopalan
India studied the Malaysian model, which was scrapped on Wednesday, before implementing the GST and borrowed the anti-profiteering clause to ensure GST benefits are passed on to the end-consumer by the industry
States' demand of compensation from Centre for loss of tax revenue not on agenda.
The minister said any declaration made under the law will be protected
Has the Modi government been more at odds with institutions than other governments? There is no doubt that there have been more run-ins. While the RBI and CBI cases have drawn attention, there have been others, less publicised, Subhomoy Bhattacharjee points out.
Senior New Delhi-based journalist R Rajagopalan, who has been closely following the Union Budget preparations since 1977, lifts the veil off India's most secretive operation.
The benefits are common in many cases, but are also different in some other respects.
India's indigenous paper manufacturers are forced to use a variety of raw materials.
Chidambaram to meet revenue boards on how to get much more and quickly; special audits and notices among measures likely.
In a maiden initiative, the Election Commission has introduced e-filing of affidavits by candidates for the forthcoming Lok Sabha and assembly polls.
The biggest achievement of demonetisation is that it has brought about a social revolution against black money and corruption, says Sukumar Mukhopadhyay.
The information and broadcasting ministry's business-like and result-oriented handling of several issues has set a template for other ministries to follow, says A K Bhattacharya.
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