New Delhi, June 30 (IANS) The launch of the Goods & Services Tax (GST) on July 1, 2017, marked a historic achievement in India’s economic reforms journey, with the principle of “One Nation, One Tax” helping to create a common national market, according to an official factsheet issued on Tuesday.As GST completes nine years, it has also undergone next-generation reforms in 2025, which further simplified the structure through lower rates, exemptions and easier processes. These measures ai…
Latest Tax evasion News & Updates
Bengaluru, June 26 (IANS) Karnataka Chief Minister D.K. Shivakumar directed the officials of the Commercial Tax Department that there must be no scope whatsoever for tax fraud, saying strict measures must be taken to completely prevent tax leakage. Holding a review meeting of the Commercial Taxes department at Vidhana Soudha, the CM said that by the time the next review meeting is held, every instruction I have given today must have been implemented. In the next meeting, I will personally review…
Chandigarh, May 8 (IANS) Punjab Intelligence and Preventive Unit has dismantled an organised fake billing network with the arrest of one for orchestrating a massive Rs 15.56 crore Goods and Services Tax (GST) fraud involving the wrongful availment of fake Input Tax Credit on bogus transactions of Rs 85.4 crore, Finance Minister Harpal Cheema said on Friday.Ludhiana-based API Plastic Recyclers Private Ltd Director Paramjeet Singh has been arrested.Detailing the investigation, the minister said th…
New Delhi, April 25 (IANS) Pakistan’s latest revision of property valuation tables by the Federal Board of Revenue (FBR) has once again exposed the formidable influence of the real estate sector and the state’s limited ability to enforce meaningful tax reforms in this domain, a report has said. What was initially presented as a move to bring official land values closer to prevailing market rates has, over time, been steadily watered down through a series of reversals, suspensions and concess…
New Delhi, April 7 (IANS) Large-scale tax evasion in Pakistan’s tobacco sector, resulting in estimated annual losses of over Rs 300 billion, has emerged as a major concern amid the country’s worsening fiscal stress, according to a local media report.The report by The Express Tribune highlighted that the illicit cigarette trade continues to significantly erode government revenues, even as authorities struggle to meet tax targets and manage a widening budget deficit.Pakistan’s fiscal position has …
Chandigarh, March 30 (IANS) Punjab Excise and Taxation Minister Harpal Singh Cheema on Monday said a massive Rs 200 crore turnover evasion racket in the hospitality sector has been exposed. With 882 establishments already under the scanner and Rs 2.02 crore recovered so far, Cheema said the investigation is rapidly expanding and the total evasion could surge to nearly Rs 500 crore as more data is analysed. Flagging how major urban centres like Mohali, Jalandhar, and Ludhiana have emerged as key …
Patna, Jan 29 (IANS) The Income Tax Department on Thursday conducted simultaneous raids at three locations in Bihar’s Gaya ji district.The action is being described not as a routine inquiry but as a well-planned search and seizure operation, triggering a wave of anxiety across the local business community.As soon as Income Tax Department vehicles entered the Hath Godam area under the Kotwali police station limits, panic spread throughout the locality.Sources said the raids targeted the premises …
New Delhi, Jan 27 (IANS) Tax evasion in the real estate sector is bleeding Pakistan’s national exchequer roughly Rs 500 billion annually, illicit tobacco is costing another Rs 310 billion, and multiple consumer goods industries are operating outside the documented economy, leading to an annual revenue loss for the government of a staggering Rs 1 trillion, an article in the Pakistani media said.An article in the Karachi-based Business Recorder highlights that tax evasion and smuggling on this m…
Bhopal, Jan 13 (IANS) The Enforcement Directorate’s Indore Sub-Zonal Office has filed a charge sheet before the Indore Special Court in the money laundering case involving Kishore Wadhwani, Nitesh Wadhwani, Poonam Wadhwani, and M/s Dabang Duniya Publications Private Limited, a press statement said on Tuesday. The charge sheet was lodged on October 30, 2025, under the provisions of the Prevention of Money Laundering Act, 2002, and the court took cognisance of the offence on January 12, 2026. The …
Bengaluru, Jan 5 (IANS) In a significant blow to tax evasion networks plaguing India’s Goods and Services Tax (GST) system, the Enforcement Wing (South Zone) of Karnataka’s Commercial Taxes Department has exposed and dismantled a sprawling interstate fake invoicing cartel.Operating across Karnataka and Tamil Nadu, the syndicate orchestrated fraudulent transactions totalling a staggering Rs 1,464 crore in building materials like cement, iron, and steel, leading to the wrongful claiming and passin…