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 …
Latest Tax evasion News & Updates
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…
New Delhi, Dec 24 (IANS) Recent reforms under GST 2.0 show that simplification and tax moderation can coexist with strong revenue growth, a report said on Wednesday, calling for freezing peak tax rates and expanding tax base through technology.The white paper from Think Change Forum said that recent GST reforms proved wrong the long-held belief that higher tax rates are necessary to boost collections as gross GST collections rose 4.5 per cent (on-year) to Rs 1.95 lakh crore in October 2025.The r…