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BusinessToday.In
New Delhi, April 15, 2021
Technology, especially its tools such as data analytics and artificial intelligence, is ending the heydays of exploiting information gaps to hide income from the taxman. Tax authorities are detecting mismatches in tax returns using tonnes of information about large transactions from banks, mutual funds, companies issuing shares, stamp and registration departments of states and sounding alerts about possible tax evasion, with different wings of the revenue department, direct tax, indirect tax and customs sharing data. However, the nationwide drive to find evaders has also given a free hand to corrupt officials to exploit the system with arbitrary notices and demands. Small and large businesses are at the receiving end of the taxman's hounding, threats and at times even violence. Watch the video for more.Also Read: Indirect tax collection rises 12.3% to Rs 10.7 lakh cr in FY21


Joe C Mathew and Nidhi Singal
New Delhi, April 14, 2021
The Production Linked Incentive Scheme aims to build an Indian manufacturing base across 13 key sectors. What works. What doesn't


BusinessToday.In
April 13, 2021
The record high excise duty on petrol and diesel \"partly\" helped the government rake in 59 per cent more indirect tax collections in financial year 2020-21 as compared to the previous fiscal


BusinessToday.In
April 13, 2021
GST collection on account of GST of Centre (CGST+IGST+ compensation cess) during FY21 is Rs 5.48 lakh crore compared to Rs 5.99 lakh crore in FY21


Reuters
April 13, 2021
Analysts in a Reuters poll had forecast year-on-year exports growth of 35.5% after shipments surged 154.9% in February


Nidhi Singal
April 7, 2021
Voltas expect this demand to be high in the coming few months as well, owing to an increased need for automation of household chores due to the continued work-from-home culture


PTI
April 3, 2021
Travel between India and China has been halted since Beijing imposed travel restrictions in November last year and suspended the visas and resident permits held by Indian citizens


BusinessToday.In
April 1, 2021
March GST receipts were more than Rs 10,000 crore higher than the February 2021 collection of Rs 1.13 lakh crore and the highest since the introduction of the indirect tax regime


Rajeev Dubey
New Delhi, March 31, 2021
If India's tax- to-GDP ratio of 17.7 per cent has to get anywhere near developed countries' 25-35-36 per cent, those who should pay taxes must be brought under the tax net. But that's easier said than done


Dipak Mondal
New Delhi, March 31, 2021
As tech helps tax authorities check evasion and fraud, taxpayers complain of harassment and misuse of powers


Reuters
March 31, 2021
Prime Minister Narendra Modi's 'Make in India' drive has helped to turn India into the world's second-biggest mobile manufacturer after China


PTI
March 23, 2021
Asmita Pant, Senior Analyst at Ind-Ra, said, \"The increase in tariffs will increase power purchase costs for solar off-takers by Rs 9 billion (Rs 900 crore) annually, considering that around 10 GW of solar capacity will come on stream in the next 12 months\"


Reuters
March 22, 2021
Saudi Arabia, the world's biggest oil exporter, retained its position as China's top supplier in the first two months this year


BusinessToday.In
March 21, 2021
The finance ministry says neither the government nor the CBIC has issued instructions to their field formations regarding the use of \"unauthorised communication means\" to achieve GST revenue collection targets for the fiscal year


PTI
March 20, 2021
Forty-seven per cent (590,021) of all active SEVIS records hailed from either China (382,561) or India (207,460) in calendar year 2020, a slight decrease from 48 per cent in calendar year 2019


Dipak Mondal
March 19, 2021
GST officers are using unauthorised communication means such as phone calls, WhatsApp and messages to demand 'maximum tax liability' in 'cash' from taxpayers


BusinessToday.In
March 19, 2021
The feathers were seized at the Inland Container Depot, Tughlakabad. Collectively weighing 2,565 kg, the shipment was misdeclared as PVC pipes


Nidhi Singal
March 17, 2021
\"The demand for LED TV is going down because prices are increasing and if the government will not intervene right now, I think it will be very difficult for existing small TV manufacturing companies to survive,\" said Avneet Singh Marwah, Director and CEO, Super Plastronics


Sumant Banerji
March 17, 2021
A surge in global commodity prices in the last 8 months has seen profitability of domestic steel industry hit record highs leading to reduction in debt


Nidhi Singal
March 17, 2021
The government of India has already been taking steps to encourage television manufacturing in India. In July last year, the cabinet imposed restrictions by changing the import policy for colour televisions from free to restricted


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