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 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.
The Bangalore Hotels Association (BHA) on Wednesday warned that hotels affiliated to it and other hospitality bodies in the city would suspend business with online food delivery platform Swiggy from August 15 if the company failed to resolve longstanding issues relating to payment transparency, unauthorised deductions and advertising charges.
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.
The government banks on the support of the Bharatiya Janata Party to push the Insurance and LIC Bills in the next Parliament session, but it seems to have adopted different tactics on the Goods and Services Tax (GST) Bill.
Revised draft model Bill clearly says an agriculturist for the purpose of agriculture won't be liable for registration under GST.
The Union minister said it is "not fair" on Congress's part to set conditions for the passage of the GST bill and if the said clauses were so crucial, the UPA could have brought these in the original bill when it was in power.
On Thursday, the Business Advisory Committee of the Lok Sabha, which allocates time for the Bills and discussions to be taken up for the forthcoming week, met, but the government strategists didn't ask the members to allocate time for the GST Bills for the next week.
The Bill has already been passed by the Lok Sabha.
Reaching out to the opposition, Prime Minister Narendra Modi on Sunday sought its cooperation in the passage of GST bill even as it asserted that government will be targeted over developments in Arunachal Pradesh and Kashmir during Parliament's Monsoon Session starting on Monday.
Singling out the Congress as the only opponent to the GST, the government hopes to pass the bill after the altered numbers in the Upper House, reports Archis Mohan.
The finance minister said the government was open to suggestions.
The government has proposed to implement GST from April 1, 2016, and the new Finance Commission may be set up ahead of its schedule to look into the issues related to the new indirect tax regime.
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.
Finance Minister Arun Jaitley appealed to parties to rise above partisan considerations to support it.
The government said it was willing to advance the upcoming Parliament session.
The Rajya Sabha on Wednesday took up the four bills related to the GST, with the Opposition urging the government to insulate taxpayers from harassment and questioning how the new regime was "ideal" when 40 per cent of the revenue base of the GDP was kept out of its purview.
The Goods and Services Tax Bill was passed by the Lok Sabha in May.
Finance Minister Arun Jaitley on Wednesday drove over to Rahul Gandhi's 12 Tughlak Lane bungalow to personally invite the Congress vice-president to his daughter Sonali's wedding.
Despite being cleared in the lower house, the GST bill has been pending in the Rajya Sabha for clearance, where the Congress enjoys numerical strength, reports Kavita Chowdhury.
India's gold demand saw a 6 per cent year-on-year decline in the April-June quarter of 2026, reaching 131.4 tonnes, primarily due to subdued seasonal sales, increased Customs duty, and Prime Minister Narendra Modi's call to reduce gold purchases, according to a World Gold Council report.
'Users should protect their savings goals before allocating money to discretionary expenditure.'
Drabu said the GST regime will roll out in the state at midnight on Friday, making Jammu and Kashmir the last state to join the new tax regime.
Ghulam Nabi Azad and Anand Sharma succeed in convincing Rahul Gandhi of zero returns in blocking Parliament.
The USIBC has encouraged a streamlined implementation of the GST.
The government introduced the 122nd Constitution amendment Bill.
The Prime Minister also underscored the importance of public sector undertakings in the country.
The Delhi government has announced a comprehensive audit of the Narela and Bawana industrial areas, covering the period from 2011-12 to 2025-26. The audit, initiated by the DSIIDC, aims to identify financial irregularities, fund diversions, and their financial impact within these public-private partnership projects.
The Indian government is set to accelerate reforms, including measures to enhance foreign direct investment, speed up divestment, and boost asset monetisation, to maintain economic growth despite rising fuel and fertiliser import costs driven by the West Asia crisis.
The bill was taken up for consideration in the Lok Sabha after the Speaker rejected Opposition demands to refer the key reform measure to a parliamentary Standing Committee.
"We are willing to speak to any of their leaders," Jaitley was quoted as saying by Bloomberg News.
Election-related freebies and populist measures are other factors crimping the revenue profile of these states.
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.
At a meeting of the Empowered Committee of State Finance Ministers, the Centre's plan to bring petroleum goods under GST regime was opposed.
Delhi Police busted an interstate liquor smuggling racket that used cartons labelled as 'wood polish' to transport liquor to Bihar. One person has been arrested, and the syndicate is being investigated under organised crime provisions.
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.
Despite a sharp increase in import duties on gold and silver to 15 per cent, the precious metals are trading at significant discounts in the domestic market, with gold seeing discounts of up to $200 an ounce and silver up to $6 an ounce.
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.
