Over 1,200 exporters untraceable; government saves Rs 350 crore fake IGST refund
The department has reasons to consider that nefarious elements among the customs broker community may be connected with these frauds, involving fictitious entities, existing only in virtual space through identity thefts with fake and morphed documents, according to sources.
SBI to refund home loan borrowers if builder delays project
The scheme can be availed for projects where the maximum home price is upto Rs 2....
Fraction of exporters could have misused GST refund facility, not all: FIEO
"Unfortunately, the scheme of e-wallet, which was recommended by ...
Sebi directs HBJ Capital Services, others to refund illegal fees collected from clients
HBJ LLP was carrying out alternative investment fund activities without obtaining requisite registratio.
SC rejects Centre's plea challenging refund of Rs 104 crore ordered by TDSAT to RCom
The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) had on December 21, 2018 directed the Centre to return around Rs 104 crore after encashing bank guarantee of Rs 908 crore against spectrum charges of Rs 774 crore.
Rs 1.12 lakh crore paid as IGST refunds to exporters: Govt
The board said that out of about 1.85 lakh exporters, a total of 6,421 exporters (about 3.4% only) including some ‘star exporters’ have been identified as risky and hence, red flagged. Even some of the ‘star exporters’ are not traceable at the addresses given by them.
HC asks IIT-Guwahati to refund alumni fee
IIT-G has been charging Rs 1,500 as one-time alumni fund fees from first-year students since 2016, even though its board of governors had said only final-year students should pay this amount. The institute claimed the fee collection was “based on a resolution by IIT Council of India,” according to a copy of the court order reviewed by ET.
Over Rs 1.12 lakh crore paid as IGST refunds to exporters: CBIC
The Central Board of Indirect Taxes and Customs (CBIC) has paid over 83500 exporters the IGST refunds worth Rs 1.12 lakh crore. Stating the refunds pending with Customs, the release added, "refunds of only Rs. 3,604 crores are pending with Customs. 1,241 exporters are not traceable at their given addresses according to the verifications conducted.
NCDRC orders Nexgen Infracon to refund 29 buyers' money with 12% interest
The case was filed by 29 home buyers of Mahagun Mezzaria situated in Sector 78, Noida. Most of the buyers had booked apartment in 2013 and the project was to be completed within a period of 38 months from the date of completion of raft.
Telecom companies won’t get input tax credit refund: Sushil Modi
Demand for Rs 36,000 crore relief not considered, says convener of the GoM on Integrated GST. Telecom service providers have been urging the government to refund the input tax credit or adjust the amount against their statutory dues. They have sent several requests to the finance ministry. Adjustment of credit refund against the dues would've helped telcos.
5 taxpayer friendly initiatives taken by tax department in 2019
A look at five important steps introduced this year by the I-T dept to make the life of the taxpayer easier.
Tax dept issues 2.10 crore tax refunds till November; Rs 1.46-lakh crore refunded
It processed 2.10 crore tax refund cases for current Assessment Year 2019-20 as on November 28, 2019, compared to 1.75 crore refunds for the same period in FY 2018-19, an increase of 20 per cent. The total amount of refunds issued in FY 2019-20 till Nov 28 was Rs 1.46 lakh cr as compared to Rs 1.19 lakh cr in the same period of the previous year.
Ericsson asks NCLT to dismiss RCom’s Rs 550-crore refund plea
The telecom equipment maker has asked the tribunal to dismiss RCom’s plea with “exemplary costs”.
Mutual funds unlikely to get priority in DHFL refund
Sector experts are of the view that fund houses cannot themselves prsessure the promoters for refund. They feel it is too late for them to take up the matter as the RBI has superceded the company board and will now move for insolvency.
GST Council meeting today: Lease rates, refund for exporters and extra cess on agenda
GST Council may clarify rates on long-term leases. If approved, this will benefit manufacturing and realty cos.
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