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Manpasand Beverages Stock Cracks 20% After Top Executives Arrested In GST Invoice Fraud

Manpasand Beverages in the opening session on Monday cracked as much as 20% after 3 of the company's top executives were arrested by the GST department for producing fake company units and indulging in tax evasion. As per the press released of ...

Deadline To Impose Higher Duties On American Products Extended

On Friday, the government extended the deadline to impose higher customs duties on 29 products imported from the US, that include walnuts, pulses and almonds to 2 May. On the recommendations of the department of commerce, the finance ministry will once ...

GST Evasion Of Rs. 5.7 Crore During July-November FY 18 Uncovered By Govt

As per the finance ministry, Goods and Service tax (GST) evasion to the tune of Rs. 5.7 crore has been uncovered by the government for the July-November period of the ongoing financial year in relation to some 16 cases. The new ...

Gst Evasion Rs 5 7 Crore During July November Fy 18 Uncover

Tv Sets Microwave Others Cost More Post Customs Duty Hike

TV Sets, Microwave, Others To Cost More Post-Customs Duty Hike

Customers will have to shell out more to buy television sets, microwave, LED lamps and some other electronic items after the government last week hiked import duty on such items to drive up local manufacturing. According to the government notification, Customs ...

GST Exporter Refunds Deposit In Account Notified With Customs

So far exporters made an outcry due to the disadvantage they were landed in due to the implementation of GST. But considering their demands and the loss the sector had suffered, the government is fast gearing to rule out the ...

Gst Exporter Refunds Deposit Account Notified With Customs

Gold In India Selling At Huge Discounts

In comparison to international gold prices, gold in the Indian subcontinent was selling at huge discounts on Friday owing to weak demand as well as rise in imports of the precious yellow metal from South Korea. Before the roll out ...

Custom Duty, IGST Collection Doubles Post GST in July

A Government Official has said that the collections from customs duty and IGST from imports post implementation of Goods and Services Tax (GST) has almost doubled to Rs 30,000 crore in July.As per reports, the revenue collected include those on account ...

Custom Duty Igst Collection Doubles Post Gst July

Tax Department Start Consultation On Changes Customs Act

Tax Department To Start Consultation On Changes In Customs Act

The tax department has asked officials to start an outreach programme with stakeholders and make systemic changes to implement proposed modifications in the Customs Act aimed at de-cluttering ports and enhancing revenue. The Finance Bill 2017 proposes to modify the Customs ...

NRIs, Indians Returning Home To Show Banned Notes To Customs

NRIs and Indians returning from abroad will have to physically show the junked 500 and 1,000 rupee notes to Customs officials at the airport and get a declaration form stamped before they can deposit the demonetised currency in RBI during the ...

Nris Indians Returning Home Show Banned Notes Customs

Indirect Tax Collection Jumps 34% In Apr-Nov

Buoyed by 34 per cent jump in indirect taxes during April-November this fiscal, Revenue Secretary Hasmukh Adhia said government may exceed the collection target from customs, excise and service tax, and thus make up for the "likely shortfall" on the direct ...

Fin Min Reduces Penalty for Customs Duty Fraud by 10 Per cent

New Delhi, Jun 23 (PTI) The penalty in cases of customs duty fraud has been reduced by 10 per cent by the Finance Ministry. Section 28 of the Customs Act, 1962, has been amended and now the amount of penalty payable ...

Fin Min Reduces Penalty Customs Duty Fraud

Restriction on gold import to be reviewed by March: FM

The Union Finance Minister P. Chidambaram on Monday said that the restricting the import of gold helped in containing Current Account Deficit (CAD) and balance of payments' position. "The restrictions on gold may be revisited at the end of the current ...