Police in Lucknow busted a gang that misused the Mudra loan scheme to create fake GST firms and commit input tax credit fraud worth approximately Rs 1.3 crore.
Police in Pilibhit, Uttar Pradesh, have uncovered a GST fraud involving the misuse of a GST ID to misappropriate approximately Rs 7 crore. The investigation revealed 13 fake firms allegedly used to generate bogus bills.
Kapil Chugh, accused of masterminding a Rs 1,825 crore GST refund fraud, has been arrested by DGGI officers upon his return from Dubai. He is alleged to have evaded investigation and is wanted in other economic criminal cases.
The Uttar Pradesh STF has arrested a man in connection with a Goods and Services Tax (GST) fraud estimated at Rs 15,000 crore. The accused allegedly used fraudulently obtained GST registrations to create fake firms and generate bogus invoices.
The Directorate General of GST Intelligence (DGGI) has uncovered a fake input tax credit racket worth approximately 593 crore in Karnataka, leading to the arrest of the alleged mastermind.
A special PMLA court in Gurugram has remanded Punjab Industries Minister Sanjeev Arora in Enforcement Directorate's custody for a week in an alleged Rs 100-crore GST fraud-linked money laundering case.
Kanpur police have uncovered a GST fraud racket where suspects used unsuspecting individuals' documents to create fake firms and route transactions worth nearly Rs 250 crore.
The Enforcement Directorate conducted searches against Punjab industries minister Sanjeev Arora and others allegedly linked to him as part of a money laundering case investigation.
The Enforcement Directorate conducted fresh searches against Punjab industries minister Sanjeev Arora and others allegedly linked to him as part of a money laundering investigation.
The Enforcement Directorate conducted fresh searches against Punjab industries minister Sanjeev Arora and others allegedly linked to him as part of a money laundering investigation. Raids were carried out at multiple locations, including Arora's residence and business premises, following a new case registered under the Prevention of Money Laundering Act (PMLA).
Punjab Cabinet Minister Sanjeev Arora has challenged his arrest by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA), claiming it is illegal and unconstitutional. The Punjab and Haryana High Court heard arguments and adjourned the matter to May 14. Arora was arrested in connection with an alleged Rs 100-crore GST fraud-linked money laundering case.
Delhi Police have dismantled an organised interstate racket involved in manufacturing and distributing counterfeit life-saving medicines, arresting six individuals and seizing fake drugs worth approximately Rs 2 crore. The investigation also revealed a network of fake GST firms used for generating bogus invoices and laundering money.
Bihar became the first non-NDA state and overall second after the BJP-ruled Assam to pass GST bill.
Maruti Suzuki has discontinued its Ignis hatchback due to weak sales and a shift towards SUVs, while simultaneously facing supply chain issues for its popular S-Presso and WagonR models, leading to booking halts at some dealerships.
IRCTC is expanding its payments arm, IRCTC Payments, to handle transactions across its ticketing platform and tap government clients, aiming to scale its annual payment processing to approximately 1 trillion.
Opposition leaders have criticised Prime Minister Narendra Modi's address to the nation, calling it politically motivated and a misuse of official platforms during ongoing elections.
A farmer in Uttar Pradesh, India, was shocked to receive tax notices for millions of rupees due to a fraudulent firm operating under his name in Delhi. An investigation has been launched to address the identity theft and tax evasion.
A farmer in Budaun, Uttar Pradesh, received tax notices for Rs 14.66 crore due to a fraudulent firm operating in his name in Delhi, prompting an official investigation.
'At the first sign of real trouble, that money will move. There will be a run.'
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The GST will subsume most of the indirect taxes like excise duty and service tax
By doing away with the 1 per cent inter-state tax over and above the GST rate, the government has met one of the three key demands over which Opposition Congress has been blocking the Bill in the Upper House
Bengal Finance Minister Amit Mitra expressed confidence in GST.
The Enforcement Directorate conducted searches at premises linked to Punjab industries minister Sanjeev Arora as part of a FEMA probe into alleged foreign exchange violations, insider trading, and round-tripping of funds.
Consumer products like mobile phones and laptops may become cheaper as the overall taxes on goods are likely to come down
Kanpur police have frozen assets worth Rs 9.5 crore, including properties, vehicles, and bank accounts, as part of an investigation into an interstate racket involved in trafficking codeine-based cough syrups.
Finance Minister Nirmala Sitharaman on Tuesday said that raising the FDI limit to 100 per cent in the insurance sector will help attract more capital, improve competition and increase insurance penetration by making policies more affordable.
The GST bill was earlier planned to be introduced from April 1.
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 finance minister is "reasonably confident" that when it comes to the crunch, "it would be extremely difficult even for the Congress party to take a contrarian view" on the GST Bill.
Offering an olive branch to the Opposition to get the GST bill passed, Finance Minister Arun Jaitley on Thursday said that Prime Minister Narendra Modi is willing to speak to everyone to get the landmark indirect tax law through.
Senior leaders within the Congress now say the party could accommodate the government's argument that the GST rate cannot be stipulated within the Constitution.
While the government has the option of ensuring the passage of these Bills as money Bills, there are voices within the government advising discretion on the GST roll-out by April 1.
Modi must focus on other state-level reforms, such as those in labour laws, leasing of land and agriculture
The insurance industry is trying to get to grips with provisions in the proposed Insurance Amendment Bill, which gives additional powers to the Insurance Regulatory and Development Authority of India (Irdai), while there is ambiguity in the very definition of the insurance business, according to industry experts.
The government is finalising a major GST overhaul with automated refunds, pre-filled returns, and analytics-based scrutiny to simplify compliance and boost liquidity for MSMEs.
Leader of Opposition in the Rajya Sabha Gulam Nabi Azad approached leader of the house Arun Jaitley, saying that he is accompanying Sonia Gandhi to Varanasi on Tuesday.
On the macroeconomic data front, PMI data on manufacturing and services sector will also influence trading
Jaitley promised the states that they would be fully compensated for any loss of revenue arising from implementation of GST.
The GST will replace more than a dozen levies central and state levies, including central excise duty, service tax and central sales tax as well as VAT on sale of goods and entry tax, to make movement of goods seamless across 1.3 billion market.
Following passage of the Constitution Bill, 2014, Dass and Finance Minister Himanta Biswa Sarma, who introduced it in the House, exchanged sweets.
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