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Referencer Library - Latest Documents - Last 90 Days

Latest News - From Newspaper Headlines

1. 

Exotic birds in 21 cages seized during raid at Crawford Mkt, flamingo rescued in suburbs.

16.06.2019

Mumbai: Officials of the directorate of revenue intelligence (DRI) carried out multiple raids in the city on Saturday, seizing hundreds of caged exotic birds being illegally smuggled and traded. State forest officials, along with the wildlife crime control bureau, assisted the DRI in these raids.

read more »

2. 

In tit for tat, India hikes tariff on 29 US products - Move Comes Days Before Jaishankar Meets Pompeo.

15.06.2019

New Delhi: The government on Friday finally decided to impose additional customs duty on 29 products, including almonds, walnut and pulses, imported from the United States—a move which comes nearly a year after India decided to retaliate against Washington’s decision to raise import duties on some steel read more »

3. 

Exports sluggish, trade deficit widens to 6-month high in May.

15.06.2019

  New Delhi: The country’s exports grew nearly 4% to $30 billion in May, while imports rose 4.3% to $45.3 billion and the trade deficit widened to a six-month high, prompting exporters to seek relief in the upcoming Union Budget scheduled for July 5.

Data read more »

4. 

Fraudster avails Rs. 62 lakh GST refund, FIR filed.

15.06.2019

Navi Mumbai: An FIR has been registered at CBD police station against an unidentified person, who registered a non-existent company by misusing the name, PAN card, Aadhar card and address of a New Panvel resident. He also duped the exchequer by obtaining a GST number and fraudulently read more »

5. 

One more held in export scam, Rs. 6 crore seized.

14.06.2019

Mumbai: The Directorate of Revenue Intelligence has arrested Ramesh Chavan, a private consultant, in the export scam.

DRI officials raided Chavan’s residence and seized over Rs 6 crore. Probe is on to unearth the remaining money.

According to officials, Chavan, under read more »

6. 

Bizman held for Rs. 118cr export fraud.

13.06.2019

Mumbai: The prevention of smuggling and customs fraud unit of Directorate of Revenue Intelligence (DRI) has arrested a businessman in an export fraud running into Rs 118 crore.

DRI arrested RMCL joint managing director Abhishek Anilkumar Agarwal, a resident of Daman, for defrauding the read more »

7. 

New monthly GST system’s rollout in Oct.

12.06.2019

New Delhi: The finance ministry said on Tuesday the new monthly GST return filing system will be rolled out from October. The rollout is three months behind schedule. The ministry was originally targeting a July rollout of the new return system, as mandated by the GST Council last year.

read more »

8. 

DRI nabs bizman, seizes Rs. 1cr foreign cigarettes.

12.06.2019

Mumbai: Directorate Revenue of Intelligence (DRI) on Monday arrested businessman Bipin Kumar Singh (30), raided a godown in Chira Bazaar in South Mumbai and seized foreign cigarettes worth Rs 1.10 crore. What has baffled security agencies is that the smuggling is being carried out from the border read more »

9. 

Seizure of 90 kg of gold stuck due to lack of info.

10.06.2019

In 40 cases of seizures, the accused have challenged DRI’s authority to conduct investigation without registering FIRs

Two months after the Directorate of Revenue Intelligence (DRI) seized around 110 kilogram of gold that was allegedly smuggled from Dubai, the agency is yet to get read more »

10. 

Draft bill moots 10-yr jail for crypto dealing - Proposes To Make Holding Any Virtual Currency An Offence That’s Non-Bailable.

08.06.2019

New Delhi: Holding, selling or dealing in cryptocurrencies such as Bitcoin could soon land you in jail for 10 years. The “Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019” draft has proposed 10-year prison sentence for persons who “mine, generate, hold, sell, transfer, dispose, read more »

11. 

RBI asked to give $25bn credit for exports: Goyal.

08.06.2019

New Delhi: Commerce and industry minister Piyush Goyal said on Friday that Reserve Bank of India (RBI) has been asked to extend $25 billion (Rs 1,73,150 crore) line of credit for exports and ensure that exporters get funds at interest rates not exceeding 2% above Libor.

read more »

12. 

ED raids BJP ally party leader in laundering case.

07.06.2019

Mumbai: The Enforcement Directorate (ED) on Thursday raided 10 premises across Maharashtra, including a Bandra (West) educational institution, after registering a money laundering case against Parbani sugar baron Ratnakar Gutte, a leader of Rashtriya Samaj Paksha (RSP), which is an ally of the BJP in the state.

read more »

13. 

ED finds emails ‘linking’ lobbyist to Patel’s office.

06.06.2019

New Delhi: Former civil aviation minister and senior NCP leader Praful Patel, who is slated to appear for questioning before the Enforcement Directorate on Thursday in a money laundering case, is set to be confronted with alleged evidence of his office being in touch with corporate lobbyist read more »

14. 

116 TONNES - India’s May gold imports jump 49% on festive buy.

05.06.2019

The country’s gold imports in May jumped 49% from a year earlier to 116 tonnes as a correction in local prices during a key festival boosted retail demand, a government source said on Tuesday.

Higher gold imports by the country, the world’s second-largest consumer read more »

15. 

Govt probes I-T & GST mismatch in crackdown against evaders - Thousands of ‘Fraudulent’ Firms Identified.

03.06.2019

New Delhi: Back in office, the Modi government is set to take up the next stage of action against tax evasion and money laundering with data analysis helping detect thousands of overstated goods and services tax (GST) claims that don’t match up with income tax returns.

read more »

16. 

Despite slow sales in durables & auto, GST mop-up touches Rs. 1L cr - Gross Collection For April Up By 6.7% Compared To Last Year.

02.06.2019

New Delhi: Goods and services tax (GST) collection stayed over the Rs 1 lakh crore mark for April despite a slowdown in auto, consumer product and durables sales.

Latest data released by the finance ministry on Saturday showed that gross collections for April were read more »

17. 

Under GSP, India accounted for 25% of goods with duty-free access to US.

02.06.2019

Exporters have said Washington’s decision to terminate India’s special market access to the US under the generalised system of preferences (GSP) may not impact India greatly.

Out of $6.35 billion exports under the GSP scheme, net benefit was only to the tune of $260 read more »

18. 

Trump stops special duty benefits for Indian goods - Unfortunate, Says India In Guarded Reply.

02.06.2019

Washington: After mounting pressure on what it termed India’s restrictive trade policy, the White House announced on Friday that it was terminating the country’s special market access to the United States under the generalised system of preferences (GSP) programme on June 5.

“I have read more »

19. 

Firm director held for ?7cr GST fraud.

30.05.2019

Mumbai: The director of two companies who fraudulently submitted fake purchase invoices to claim input tax credit and duped the exchequer of Rs 7 crore was arrested by Central Goods Service Tax (CGST) Authority.

Shoeb Dayater, a resident of Palghar, was charged under sections read more »

20. 

GST refunds: Single authority likely by Aug.

27.05.2019

New Delhi: A single authority for sanctioning and processing GST refunds is in the offing as the finance ministry looks to speed up and simplify the process for exporters, an official said. The current mechanism entails a twin refund sanctioning authority of the central and state tax read more »

21. 

TRIBUNAL RULING - Realtors may get GST relief on development rights.

27.05.2019

Chennai: A new service tax ruling may offer real estate developers relief on the Goods & Services Tax (GST) liability on transfer of rights in a property for development purposes (TDR).

Ruling in favour of DLF Commercial Properties, a decision by Chandigarh tribunal last read more »

22. 

DRI busts gold export scam, 2 held.

27.05.2019

Mumbai: The DRI has busted a major racket in gold export involving an Ahmedabad-based businessman who, in connivance with a government-approved valuer, allegedly exported inferior quality metal jewellery by declaring it as gold to various foreign countries, resulting in huge losses to the exchequer in terms of read more »

23. 

BIG RELIEF? - HC: No GST at duty-free shops.

25.05.2019

New Delhi: Multiple court rulings on payment of goods and services tax (GST) at duty-free shops are making life confusing for those buying perfumes and chocolates from these stores.

A recent Allahabad high court judgment may, however, provide some relief with the court ruling read more »

24. 

Govt eyes higher ease of doing biz rankings - Banks On GST Gains, Better Debt Recovery.

23.05.2019

New Delhi: The government is banking on gains from goods and services tax (GST) and higher recovery from bad debt that is now subject to insolvency resolution to move up the World Bank’s Ease of Doing Business rankings.

Officials from the department for promotion read more »

25. 

Builder’s tax call will decide your GST rate - For Under-Construction Flat, You Will Get 5% Levy Benefit Only If He Moves To New Regime.

09.05.2019

New Delhi: Your GST liability will only come down to 5% on the remaining instalments of your under-construction apartment, if your builder decides to move to the new mechanism.

Under the revised regime, the GST Council has lowered the levy to 5% from 12% read more »

26. 

HC stays GST proceedings filed against Abbott Health.

09.05.2019

New Delhi: The Delhi high court has stayed proceedings against Abbott Healthcare for charging higher GST after the company questioned the constitutional validity of the provisions as well as the National Anti-Profiteering Agency’s (NAPA’s) powers to extend the probe to its other products.

Appearing read more »

27. 

‘No higher GST for location, car parking’.

04.05.2019

New Delhi: There may be further goods and services tax (GST) relief for home buyers. The Authority on Advance Ruling in West Bengal has said that services such as preferential location and facilities like car parking in apartments should be treated as “composite construction service” and attract read more »

28. 

GST, Cos Act boost demand for CAs.

03.05.2019

Chennai: With increasing regulatory scrutiny and governance standards, the demand for chartered accountants (CAs) to help navigate business is at an all-time high, data from placement records of the Institute of Chartered Accountants of India (ICAI) showed. Pay packages, too, have improved as the highest salary in read more »

29. 

Economy has slowed down in 2018-19: FinMin

03.05.2019

New Delhi: India’s economy appears to have slowed down slightly in 2018-19, a finance ministry report has said, listing some challenges that need to be addressed to get the momentum going.

The latest comments about growth come in the midst of general elections and read more »

30. 

GST receipts in April highest since rollout - Grows 10% Over Last Year To Rs. 1.13 Lakh Cr.

02.05.2019

New Delhi: Gross GST revenue collected in April was well over the Rs 1-lakh-crore mark and was the highest since rollout of the reform measure in July 2017. Government data on Wednesday showed GST receipt was at Rs 1,13,865 crore, a growth of 10% over the same read more »

31. 

LAW RELATING TO LEVY OF CUSTOMS DUTIES UNDER THE CUSTOMS TARIFF ACT, 1975.

15.04.2019

Introduction

As defined in the Wikipedia, tariff is a tax on im­ports or exports between sovereign States. It is a form of regulation of foreign trade. It is a policy that taxes foreign products to encourage or protect domestic industry. It helps read more »

32. 

Three businessmen held for CGST fraud worth Rs 100 crore.

10.04.2019

Accused floated seven firms, including 3 shell companies, to generate bogus invoices and avail income tax credit

Three businessmen were arrested by the prevention wing of the Thane Commissionerate’s Central Goods and Services Tax (CGST) for allegedly defrauding the tax body of over Rs read more »

33. 

Deep post-election change unlikely.

08.04.2019

In its election manifesto, the Congress party says it will reward export­ oriented industries through tax rebates and incentives. It also promises to review and replace the current Goods and Services Tax (GST) laws with a 'GST 2.0' re­gime that will truly reflect the intent and purpose read more »

34. 

Rs. 5cr gold found hidden in scrap pipes, importer held.

06.04.2019

Mumbai: The Directorate of Revenue Intelligence (DRI) on Friday seized 19kg gold, worth Rs 5.4 crore, concealed in brass pipes among tonnes of scrap imported from Dubai and arrested the importer, Rajesh Bhanusali of Shourya Exim.

Officials said 163 gold biscuits were concealed in read more »

35. 

Duo held for helping gold smugglers.

02.04.2019

Mumbai: Two people who allowed their companies to act as facilitators to smuggle 200kg gold into the country have been arrested by the Directorate of Revenue Intelligence (DRI). The accused—Chetan Sojitra, proprietor of Prachi Impex, and Kalpesh Nanda—were arrested from Jamnagar. The DRI has already arrested seven read more »

36. 

GST collection hits record high in March - Crosses Rs. 1L-Cr Mark On Better Compliance.

02.04.2019

New Delhi: GST collection in March crossed the Rs 1-lakhcrore mark, the highest since the tax reform measure was rolled out in July 2017, bringing relief for the government battling sluggish receipts.

Total gross GST collected in March was Rs 1,06,577 crore, of which read more »

37. 

Cloudy outlook for our trade.

01.04.2019

Financial year 2019-20 (FY20) begins on a rather sombre note, despite ex­pectation of a rate cut by the Reserve Bank of India (RBI) and buoyancy in the equity markets. Various global and domestic factors are at play, casting doubts on achieving a sustained and robust economic recovery. read more »

38. 

Biggest Gold seizure by DRI - 106.9 Kgs Gold plus 1.81 Crore Cash seized.

29.03.2019

Information was received by DRI that a syndicate is involved in smuggling of foreign origin gold in various forms like ropes, wires, rods, discs etc. of various weights into India by concealing the same in import consignments, mainly melting scrap of different metals.

Officers read more »

39. 

HUNT FOR KINGPIN - Trio arrested for smuggling gold in nebuliser machines.

28.03.2019

Mumbai: Directorate Revenue of Intelligence (DRI) Mumbai busted a major gold smuggling racket wherein the gang used to hide gold plates inside nebuliser machines. DRI arrested Ahmed Mohammed Bedra alias Ajay, Mahendra Laxman Kate and Ravindra Sonar, and are looking out for the kingpin, Mujeeb Rehman, from read more »

40. 

Diamond trader held in import scam.

28.03.2019

Mumbai: The Directorate Revenue of Intelligence (DRI) busted a multi-crore import scam where the diamond trader in connivance with valuers inflated the value of diamonds to claim remittances from the government.

The DRI Mumbai unit has arrested Vijen Girischandra Jhaveri, a resident of JVPD read more »