Traders made backdated entries in their tally software, petrol-pump owners inflated their actual daily sales and shell companies made fictitious entries to launder black money.
Plan and Policy
Plan & Policy
All hotels and restaurants operating without licences issued by the food regulator will be sealed and closed if they fail to produce the document after three months.
Food safety regulator FSSAI, which also asked the hotels to get their papers in order by mid-January, issued the warning.
Food Safety and Standards Authority of India (FSSAI) CEO Pawan Kumar Agarwal said the regulator would first ask states to run a special drive to create awareness among food business operators about the requirement of license, which is compulsory.
The Income Tax Department is matching the "tax profiles" of all property registrations of above Rs 30 lakh under the provisions of the anti-Benami Act, as action against illicit asset holders is set to intensify, the CBDT chief said today.
If the real estate sector is brought within the ambit of GST, it should be along with the stamp duty and moderate rate, and should not add to the cost of housing and construction, according to an industry body.
Notwithstanding the reduction of GST on the handloom and handicraft sector, discontent artisans today sought complete waiver waiver of tax on such products.
Handloom and handicraft artisans today participated in a seminar here organised by the Crafts Council of India on GST, and demanded withdrawal of the new tax.
"We will take a resolution after the seminar based on the demands from the artisans and will send a representation to the GST Council," Crafts Council President Kasturi Gupta Menon said.
Tejashwi Yadav, son of RJD leader Lalu Prasad, was on Monday grilled for over nine hours for the second time by the enforcement directorate (ED) in connection with a money-laundering probe in the railway hotels allotment corruption case, official sources said.
They said the investigating officer of the case at the ED office recorded the statement of the former Bihar deputy chief minister after he arrived there around 11 am. Tejashwi left the ED office around 8.45 pm.
Dhanteras-induced demand for gold and rise in Brent crude oil prices may have widened India’s trade deficit in October, according to a poll.
“We expect trade deficit to widen to approximately $10.8 billion in October from $9 billion earlier, led by seasonal factors (dhanteras-induced gold import) along with a stronger sequential decline in exports growth as compared with that in imports growth,” said Derrick Y Kam, economist at Morgan Stanley.
It now seems that the government was not fully prepared to replace scrapped Rs 500 and Rs 1,000 notes, 86 per cent bills in value terms, after it announced demonetisation on November 8, 2016.
The central bank started printing new Rs 2,000 notes only two-and-half months before the note ban.
“The first stage of printing process of Rs 2,000 bank-notes started at BRBNMPL on August 22, 2016.” an RBI subsidiary has said in response to an RTI query.
Consumers waiting for cooling down of vegetables prices with the onset of winter may have to wait longer. Prices of onion, tomato and potato, the most staple of all veggies, continue to rule high while others such as green peas are soaring without any respite.
Prime Minister Narendra Modi on Monday held wide-ranging talks with US President Donald Trump and told him that both nations can rise beyond bilateral ties and work jointly for the future of Asia, reflecting their growing convergence on strategic issues in the Indo-Pacific region.