DRI arrests Future Enterprises CFO for evasion of customs duty
The company was importing readymade garments from Bangladesh through Petrapole Land Customs Station (LCS) without payment of basic customs duty, availing of SAFTA benefit.
IT department vetting GST, civic licences in Madhya Pradesh, Chhattisgarh to widen tax net
Letters were also sent to municipal commissioners ...
Crackdown on fake IDs: 18 cr PAN cards to become invalid
Govt to suspend as many as 18 crore PAN cards not linked to Aadhaar. The suspension ...
India notifies pact with US to check tax evasion by MNCs
This information will enable an enhanced level of assessment of tax risk .
Economic Survey 2019: Invoke pious obligation doctrine to make people pay debts
Such suggestions find a place the chapter titled 'Policy for Homo Sapiens, Not 02 Homo Economicus: Leveraging the Behavioural Economics of "Nudge"'.
Economic Survey 2019: Use mental tricks, religion to make people save more, pay taxes
The Economic Survey 2019 suggests using religion and psychological biases in the realm of personal finance.
Gang involved in Rs 60 crore GST fraud busted, 4 held in Noida
The officer said around 20 such fake firms have been identified, six of them were at Greater Noida addresses, while the remaining having Delhi addresses.
ED may summon Naresh Goyal in Jet Airways privilege case
The Enforcement Directorate is studying allegations of tax evasion of more than Rs 650 cr against Jet and its units.
Directorate General of GST Intelligence issues notices to auto ancillaries over tax evasion
Tax officials believe vendors are evading tax as value of some of these elements was not being included by the component manufacturers while calculating the excise duty.
India-US sign pact for exchange of reports to check tax evasion by MNCs
This agreement will enable both the countries to automatically exchange CbC reports filed by the ultimate parent entities.
Hawala probe: I-T Dept issues notice to Congress for receiving Rs 170-cr funds from Hyderbad-based firm
The notice has been issued to the party here to take the probe forward in a case that was unearthed last month after multiple raids were conducted in Delhi, Mumbai and Hyderabad with links to "leading corporate houses" in the infrastructure sector.
Cabinet approves ratification of OECD's multilateral convention
The convention will modify India's tax treaties in order to curb revenue loss through treaty abuse and base erosion and profit shifting strategies by ensuring that profits are taxed where substantive economic activities generating the profits are carried out.
Govt issues notices to tax evaders on ITR, GST mismatch; ET.com informed you a month ago
The initial findings have reported the overstatement of GST claims and understatement of income in the ITRs, as per officials.
Govt probes I-T and GST mismatch in crackdown against evaders
One of the most glaring gaps noticed by tax officials is the use of shell companies to make bogus claims. In several cases of fraudulent claims, identity theft was also noticed.
Tax dept to share ITR data with GSTN to detect tax evasion by business persons
Before GST was introduced, the department could not reconcile the data filed by the business persons in his/her sales tax return/service tax return and ITR.
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