In the year-long crackdown on tax evasion, the GST authorities have unearthed over Rs 35,000 crore of tax fraud committed by misuse of input tax credit provision under the Goods and Services Tax (GST) regime. During the 2020-21 financial year, the CGST zones and the Directorate General of GST Intelligence (DGGI) booked about 8,000 cases involving fake ITC of over Rs 35,000 crore, a statement from CBIC said. Under the GST regime, at the time of paying tax on output, entities can reduce the tax they have already paid on inputs.
'India has a lot of potential, not just in commercial aspects, but also in hiring of people and sourcing of products.'
... As the world swings from 'financialisation' to 'artificial intelligence', asks Ajit Balakrishnan.
The launchpads across the Line of Control in Kashmir valley are abuzz with activity, with around 60 to 80 terrorists, believed to be Afghan returnee mercenaries, receiving training with a possible push expected during summer months, officials in Srinagar said.
'We have not issued notices randomly.' 'We have done the risk profiling of individuals, and sent to those whose profile has not matched with their declared income.'
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Accusing the Centre of "misusing" intelligence agencies and armed forces for political dividend, the Bharatiya Janata Party on Saturday said former army chief General V K Singh was being falsely accused of allegedly attempting to destabilise the Jammu and Kashmir government.
The Trump Administration called on the Pakistani government to deny sanctuaries to 'dangerous' individuals and organisations.
LeT commander Abdul Rehman al-Dakhil was named as a Specially Designated Global Terrorist (SDGT) by the Department of State.
Congress MP and member of the panel Karti Chidambaram had requested Tharoor to take up the matter and call the officials of the Information and Broadcasting Ministry before the committee to seek clarification and remedial measures.
The Supreme Court-appointed SIT on Friday called for effective norms to curb betting in cricket and a stronger set of norms for P-Notes, while also making a case for bringing donations to educational and religious bodies under tax net.
The US is ready to respond "decisively" to a Russian attack on Ukraine which is still very much a possibility, President Joe Biden has said, urging Moscow to step back from the brink of war.
The information technology services sector will see a sharp fall in revenue growth to 12-13 per cent in FY23 from 19 per cent in FY22, ratings agency Crisil said on Thursday. However, the current depreciation in the rupee, strong demand for new age technologies like artificial intelligence, cloud computing and Internet of Things will help the over $220-billion sector maintain a double digit growth, it said in a report. The moderation from 19 per cent to 12-13 per cent will be the highest in the last eight years, it said and attributed the decline to expected tightening of IT expenditure by corporates amid the inflationary headwinds in the United States and European Union (EU), which together contribute almost 85 per cent to the sector's revenue.
The executive order, which was signed by Trump on Thursday, prohibits certain purchases involving publicly traded securities or any securities that are derivative of or are designed to provide investment exposure to such securities of any Communist Chinese military company.
Hafiz Talha Saeed is a senior leader of the LeT and is the head of the cleric wing of the terrorist organisation.
'While the US-Pakistan relationship has been stabilised, it's still mired in uncertainty.'
In the audio clip, he is heard directing the attack on Chabad House during Mumbai 26/11 terror attacks.
If General Asim Munir, Pakistan's new army chief, wants to help defuse the current polarised atmosphere and shepherd civilian politicians towards negotiations on an acceptable date for elections, he may need to distance himself from any perception of needless hostility to Imran Khan, explains Rana Banerji, who headed the Pakistan desk at RA&W, India's external intelligence agency.
The two leaders reaffirmed that the United States and India 'will take concerted action against all terrorist groups, including groups proscribed by the UNSCR 1267 Sanctions Committee'.
The searches at the Tamil television channel were conducted over alleged tax evasion.
'It was more than ego.' 'It carried with it a sincere belief that he was the quintessence of the country, that the country's destiny was irrevocably intertwined with his destiny.' An excerpt from T J S George's The Dismantling of India: In 35 Portraits.
Roads are becoming smarter even if the people driving on it are not. A set of smart technologies is making construction, maintenance, and traffic management much more efficient.
The two countries also asked all nations to stop cross-border movement of terrorists and asserted that a decisive collective response from the international community without 'double standards and selectivity' was required to combat the threat of terrorism.
Ola has reported its first operating profit of Rs 89.82 crore for 2020-21, even as the ride-hailing company's revenue declined 65 per cent to Rs 689.61 crore amid COVID-19 induced lockdowns. As per regulatory documents filed by ANI Technologies - the parent company of Ola - it had logged standalone operating profit (profit before finance cost, depreciation, amortisation and tax (EBITDA)) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the preceding fiscal year.
Tightening its noose around the Lashkar-e-Tayiba, the United States has added its affiliates, including the Jamaat-ud-Dawa, to its list of designated terror organisations and slapped sanctions against two Pakistan-based LeT leaders.
Only Rs 16,050 crore out of the Rs 15.44 lakh crore of the old high denomination notes have not returned.
General Pande said the northern border region has been peaceful and steps have been taken to maintain peace through established protocol and existing mechanism.
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
In these raids being conducted since Sunday morning, the NIA said, it has seized incriminating materials, including digital devices, documents, two daggers and cash Rs 8,31,500.
Jaitley said, "I welcome this investigation. I think it is a healthy step that these kind of exposes are being made. I have been repeatedly saying that the world is now going to increasingly become more transparent, countries are cooperating with each other and slowly all this information is going to come out as a result of various global initiatives which have been launched."
In comparison, Flipkart India, the marketplace unit of the country's largest e-commerce marketplace, posted a 750% growth in losses to Rs 20.6 billion.
The Centre and states are looking to further tighten the GST registration process and legal measures to deal with the rising cases of fake invoicing. A meeting of the law committee of the GST Council has been convened on Wednesday to discuss these issues, finance ministry sources said. The committee, comprising senior central and state tax officers, would also discuss the GST fake invoice frauds, further tightening of the GST registration process and work out other legal measures including necessary law amendment required in the GST Act to curb the menace of fake invoicing, they added. Also the provisions related to deemed registration under Goods and Services Tax (GST) law may be tightened to prevent the misuse of such provisions by fake dealers and the provisions related to suspension of registration may also be streamlined to make the procedure of suspension and cancellation of registration more efficient and faster, so that such fraud operators can be prevented in time from continuing to pass on fake credit down the chain.
If New Delhi finds itself out in the cold in Afghanistan, both the Congress-led UPA and BJP-led NDA have only themselves to blame. Each has been in power for a full decade from 2001, without reaching out to the Taliban, points out Ajai Shukla.
The measures needed for implementing this new system would start rolling in few weeks, the minister added.
'India finds itself in an unenviable situation today with its prospects diminished by acutely polarised domestic politics and the setbacks suffered during the pandemic,' notes Ambassador Shyam Saran, the former foreign secretary.
Lakhvi, who was on bail since 2015 in the Mumbai attack case, was arrested by the Counter-Terrorism Department.
Karachi is the world's cheapest cities to live in.
Pakistani security agencies on Thursday arrested two suspects involved in the car bomb blast outside the house of the 2008 Mumbai terror attack mastermind and chief of the banned Jamat-ud-Dawah (JuD) Hafiz Saeed, an official said.
Yellen, 74, was confirmed by the Senate in a broad bipartisan support of 84-15 votes on Monday. Both the Democratic and the Republican parties have 50 members in the 100-seat Senate.
New Delhi is vulnerable to US sanctions under a 2017 law called CAATSA.
A global group of government anti-money-laundering agencies said that financial institutions have not done enough to police suspicious financial activity by officials at soccer's global governing body FIFA.
