Over 194 Crore Found In Raids On UP Businessman, Counting Still On

UP IT Raid, Piyush Jain: Tax raids on Uttar Pradesh businessman Piyush Jain, who is part of the perfume industry, have so far recovered Rs 194.45 crore in cash and 23 kg in gold, the Directorate General of GST Intelligence (DGGI) said Monday.

Kanpur businessman Piyush Jain has been arrested for evasion ofGoods and Services Tax.

Directorate General of GST Intelligence (DGGI) Ahmedabad has recovered Rs 10 crore more cash from the factory and residence of perfume businessman Piyush Jain, promotor of Odochem Industries of Kannauj district in Uttar Pradesh, official sources said

GST is fast becoming the commercial backbone of this country and the government is making necessary changes required to support the businesses

With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination.

The GST Council has not recommended bringing petroleum products under the reformed taxation regime even as certain representations have been made to the government to include petrol and diesel in GST, Parliament was informed on Tuesday.

GST revenue in November marked second consecutive month of revenue collection above Rs 1.3 lakh crore.

Approximately Rs 52,000 crores of Goods and Services Tax compensation was due to the states till September 2021, government has said

Such services when provided through any e-commerce platform would become taxable at five per cent effective January 1, 2022.

The proposed change in GST rate from 5 per cent to 12 per cent is going to significantly increase the prices of apparels now costing below Rs 1,000

The Congress today accused the BJP government of trying to divert the country's attention from real problems like price rise faced by common people to "non-issues" of caste and religion.

"It (Boeing 737 MAX) has gone through the greatest ever scrutiny any aircraft may have undergone in the history of aviation," said Ajay Singh

Revenue Secretary Tarun Bajaj said that some people are already paying capital gains tax on the income from crypto, and in respect of GST also the law is "very clear" that the rate would be applicable as those in case of other services.

Nationalist Congress Party chief Sharad Pawar today demanded the release of GST compensation to the states for them to reduce value-added tax (VAT) on fuel. His remarks come days after the Centre reduced the excise duty on petrol and diesel.