GST Officials Arrest Maharashtra Businessman For Rs 24.55 Crore Tax Fraud

A businessman has been arrested by Goods and Services Tax (GST) officials in Maharashtra's Thane district for allegedly evading taxes worth Rs 24.55 crore by fraudulently issuing invoices without actual supply of goods, an official said this morning.

Earlier, GST taxpayers were to file required returns by August 31.

Former president Pranab Mukherjee on Saturday said the government's ambitious target of becoming a USD 5-trillion economy by 2024-25 is possible through prudent fiscal management.

Arun Jaitley, India's former finance minister who gave the nation its biggest tax reform, has died. He was 66.

While the auto industry is happy with the announcements made by the Finance Minister today, there's still a lot more that the industry expects from the government and dialogues to bring down the GST rate will continue

Relenting to some of the automobile industry's demands, the Finance Minister has announced some sops to revive the automobile industry that has been caught in an unprecedented slowdown. The key demand for reduction of the GST on vehicles has not been agreed to.

The government today announced measures to revive economic growth and markets including the withdrawal of higher taxes for foreign portfolio investors (FPIs) and said it would release funds for bank recapitalisation upfront. Finance Minister Nirmala Sitharaman told reporters the government had decided to withdraw the surcharge on FPIs which she had unveiled in her bud...

Amitabh Bachchan kick-started the game with Chitrarekha, who hails from Chhattisgarh

The Congress today launched a point-by-point broadside against Prime Minister Narendra Modi for his speech on Independence Day that praised the centre's economic policies. The Congress claimed it has debunked PM Modi's comments that the centre would invest Rs 100 lakh crore for infrastructure development and the national tax GST has made "one nation, one tax" possible...

Bibek Debroy said that steps such as a three-rate Goods and Services Tax (GST) structure and removal of corporate social responsibility spending could be among the options to revive the economy.

SIAM and several automakers have been asking for a reduction in GST rates for quite sometime in a bid to avoid any further job losses.

With Rs 35,000 worth of unsold cars countrywide there's an abnormal hike in dealers shutting down.

The FAME II (Faster Adoption and Manufacturing of Electric Vehicles) scheme came as reassurance for electric carmakers and reaffirmed that EVs are at the top of the government's agenda. Furthermore, Niti Aayog's proposal to impose a ban on combustion engine powered commuter motorcycles (below 150cc) and then the budget council moderating GST rates on EVs and promising...

Speaking at Mahindra Group's 73rd annual general meeting, Anand Mahindra suggested certain temporary measures that would have a positive impact on the industry. Short term measure like - reduction or removal of the goods and service tax (GST), revising the registration fee, and reduction of road tax, as short term measure to help revive the auto industry.