Vivek Johri, the Chairman of Central Board of Indirect Taxes and Customs (CBIC) on Friday said that the cash recovery of approximately Rs 150 crore from searches in Kanpur at several locations related to Trimurti Fragrance is the 'biggest haul ever'.
"Lalu Prasad has been sentenced to 5 years imprisonment while a penalty of Rs 60 lakh has also been imposed on him. Apart from Prasad, five years imprisonment each was announced by the Court for five convicts, four years each for 32 convicts and three years each for three convicts," CBI counsel B M P Singh told PTI.
Ayyub is the account holder and deposits totalling Rs 1,77,27,704 have been attached by the ED.
Following are the key points of the three criminal law bills, that were passed by the Lok Sabha on Wednesday and seek to replace the Indian Penal Code (IPC), the Code of Criminal Procedure (CrPC) and the Evidence Act.
A policeman has been sentenced to death and seven others have been awarded life imprisonment after they were found guilty in a fake encounter involving three students by a Central Bureau of Investigation court in Patna.
The probe agency, while seeking Patkar's custody, also told the court that an offence of such magnitude was not possible without the "explicit complicity of senior functionaries" of the Brihanmumbai Municipal Corporation.
In his first response to the issue, Stalin, president of the ruling DMK, said Palanivel Thiaga Rajan (PTR) has already responded to the matter twice.
GST authorities have detected GST fraud of Rs 55,575 crore over the last two years and arrested over 700 persons for causing loss to the exchequer, an official said on Thursday. Over 22,300 fake GST identification numbers (GSTIN) were detected by the officers of the Directorate General of GST Intelligence (DGGI). The government on November 9, 2020, launched a nationwide special drive against unscrupulous entities for availing and passing on Input Tax Credit (ITC) fraudulently by issuing fake/bogus invoices, thereby evading Goods and Services Tax (GST).
The federal probe agency wants to question and record Ayyub's statement in a money laundering case against her.
Days after he became famous after pictures of him with Bharatiya Janata Party's prime ministerial candidate Narendra Modi were released, the Enforcement Directorate has filed a fresh First Information Report against Afroz Fatta, who was arrested last month in Surat in connection with an alleged hawala racket to the tune of Rs 700 crore, on money laundering charges.
The Supreme Court on Wednesday asked a special court in Ghaziabad, which has summoned journalist Rana Ayyub in a money laundering case lodged by the Enforcement Directorate (ED), to adjourn the proceedings scheduled for January 27 to a date after January 31.
Gandhi said the govt "tried everything to stop" his 'Bharat Jodo Yatra', but nothing was working against the "effect" of the foot march.
The controversial Civil Liability for Nuclear Damage Bill will be tabled in Parliament on Wednesday.
Biden is not risking his reputation in a crucial election year, argues Ambassador M K Bhadrakumar.
With Parliament virtually paralysed due to disruption by the Congress, the Bharatiya Janata Party on Tuesday attacked it saying it was using the National Herald case to "harm" national interest and holding the country's development "hostage" to its "selfish" political goal.
Seeking to make inroads in Chhattisgarh, Aam Aadmi Party leader Arvind Kejriwal on Saturday announced 10 'guarantees' for the upcoming assembly polls in the Congress-ruled state including free electricity, monthly 'samman rashi' for women and Rs 3,000 monthly allowance for the unemployed.
The complainant accused Kejriwal and his brother-in-law of indulging in corruption.
Twitter's new owner Elon Musk has said the social media company is holding off the launch of a new system of issuing verified badges to users and could use different "colour checks" for authenticating organisations and individuals. In the days following Musk's $44 billion acquisition of Twitter, the billionaire entrepreneur announced that the Blue Tick verification badge, which authenticates a user or organisation on Twitter, will be available for a monthly fee of $8. "Holding off the relaunch of Blue Verified until there is high confidence in stopping impersonation.
Andhra Pradesh Chief Minister N Kiran Kumar Reddy on Tuesday refused to get drawn into the debate of the "original and final" AP Reorganisation Bill-2013 even as he wrote to the President seeking extension of deadline for discussing and returning it.
The nine-page guidelines have been issued days after the state government set up a 15-member committee headed by education secretary Bhawani Singh Detha to examine the issue after record student suicides were reported from coaching hub Kota.
Alleging a "pattern" of triggering communal riots and winning elections, Raut said this will break the country into pieces.
'There are many serious crimes in which powerful and fake babas have been involved in... The states where this is prevalent are Rajasthan, Gujarat, Maharashtra, Madhya Pradesh and even Delhi,' CPI-M General Secretary Prakash Karat tells Neeta Kolhatkar.
No longer a discretion of the tax administrator, the audit of returns filed by taxpayers is now based on a selection by algorithms, notes Tarun Bajaj.
Reacting to Kirti Azad's claim of financial bunglings in the DDCA, its vice-president Chetan Chauhan said that all the material the BJP MP relied upon for his allegations were taken from the earlier findings on the basis of which S P Bansal was removed as president.
'Perhaps GST was too complex a system for the Indian economy at its present stage of development,' argues T N Ninan.
An audit conducted by professional services firm Alvarez and Marsal confirms fintech firm's dealings with fake or non-existent vendors.
He had already been granted bail in the Chaibasa Treasury Scam case in October 2020, and in the Deoghar Treasury Scam case in February 2020.
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.
Critical of the hurried clearance of the food security ordinance, Bharatiya Janata Party President Rajnath Singh said on Thursday the United Progressive Alliance government was just doing a "political gimmick in a hurry" before the 2014 general elections.
Haryana government's 'Gau Sewa Ayog' said the step will prevent unscrupulous elements from extorting money and harassing people in the name of cow protection.
The Delhi Anti-Corruption Branch on Tuesday registered three separate FIRs in an alleged PWD scam, including one against the company of Delhi Chief Minister Arvind Kejriwal's late brother-in-law Surender Kumar Bansal.
Condemning opposition MPs for attacking Harivansh, Joshi said the Congress and other opposition parties are frustrated with the rise of Prime Minister Narendra Modi and have lost their balance.
GST collections in March touched a record high of over Rs 1.23 lakh crore, a 27 per cent growth over the year-ago period, the Finance Ministry said on Thursday. "GST revenues crossed above Rs 1 lakh crore mark at a stretch for the last six months and a steep increasing trend over this period are clear indicators of rapid economic recovery post pandemic," the ministry said. Closer monitoring against fake-billing, deep data analytics using data from multiple sources including GST, income tax and customs IT systems and effective tax administration have also contributed to the steady increase in tax revenue over last few months, it added.
A grouping of Indian and Indian-origin professionals working with tech giants like Google, Uber, Amazon and Facebook have written an open letter against the new religion-based citizenship law and the planned national register of citizens, terming them as "fascist". The letter by 'TechAgainstFascism' on online publishing platform Medium also urged the leaders to refuse to shut off the Internet at the "government's whim" and to ensure that content moderation is not skewing pro-government.
A total of 19 legislators from the opposition Congress and Aam Aadmi Party were suspended from the Gujarat assembly for a day on Wednesday after they shouted slogans against the Bharatiya Janata Party government before walking out of the House over the issue of a fake trainee PSI found undergoing training at a state-run police training academy.
73-year-old Prasad is in custody following his conviction and sentence by a Central Bureau of Investigation court in February in a fodder scam case involving embezzlement of over Rs 139 crore from Doranda treasury.
How many of the apps downloaded in India deliver the GPT technology they say they are?
The song Naatu Naatu from S S Rajamouli's RRR has been nominated in the Best Original Song category at the 95th academy Awards. But that's not all.
Businesses with monthly turnover of over Rs 50 lakh will have to mandatorily pay at least 1 per cent of their GST liability in cash, the finance ministry said as it moved to curb evasion by fake invoicing. The Central Board of Indirect Taxes and Customs (CBIC) has introduced Rule 86B in Goods and Services Tax (GST) rules which restricts use of input tax credit (ITC) for discharging GST liability to 99 per cent. "... The registered person shall not use the amount available in electronic credit ledger to discharge his liability towards output tax in excess of 99 per cent of tax liability, in cases where the value of taxable supply ... in a month exceeds Rs 50 lakh," the CBIC said.
Ramesh Menon, the veteran journalist suggests Prime Minister Narendra Damodardas Modi what he should do if he wants to win 2024 Lok Sabha elections.
