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GST relief can make cruise ship tickets 50% cheaper.

20-10-2018

Mumbai: The Indian National Cruise Lines Association (INCLA) wants the government to give tax waivers to halve the price of tickets for passenger cruises. The body wants 18% GST on cruise tickets to be brought down to 5%, on the lines of economy class airfare. It also read more »

Exports dip 2% despite sharp Re depreciation.

16-10-2018

New Delhi: India’s exports declined over 2% in September, despite a steep depreciation of the rupee, but the government dismissed it as a blip and blamed high base for the first fall in value of shipments in five months.

A late evening statement showed read more »

DRI to seek custody of hawala dealer for smuggling out foreign currency - Mohd Farooq Part of Syndicate That Used Bogus Docus: Officials.

14-10-2018

Mumbai: The Directorate of Revenue Intelligence (DRI) will seek the custody of hawala dealer Mohammad Farooq in a case of smuggling of foreign currency, obtained fraudulently on the basis of fabricated documents showing imports and exports totalling Rs180 crore, out of the country.

Farooq read more »

Govt ups import duty on tele gear to trim trade deficit… Second Round Of Increase Meant To Push Local Manufacturing.

12-10-2018

New Delhi: The government on Thursday raised customs duty on eight components and equipment used by the telecom sector as it sought to reduce the dependence on imported goods in a sector with burgeoning demand, which could outstrip the value of oil imports in the coming years.

Exporters complain about lack of credit - Problem Since PNB Scam - See GST Refund Woes.

11-10-2018

New Delhi: Exporters have petitioned the government about rise in costs due to higher oil prices, lack of adequate credit since the Nirav Modi fraud came to light and repeated delays in GST refunds, while maintaining that they have gained little from the rupee slide.

read more »

Excise on jet fuel cut to 11% from 14%.

11-10-2018

New Delhi: After petrol and diesel, the government on Wednesday cut excise duty on jet fuel to 11% from 14% with effect from October 11 to give relief to the aviation industry that has been hit hard by rising fuel prices and plummeting rupee in recent weeks. read more »

Mum DRI chief shifted out two years before term ends.

10-10-2018

Mumbai: In a surprising move, the government on Tuesday transferred Shrawan Kumar from the post of Directorate of Revenue Intelligence (DRI) chief of Mumbai Zonal unit a year of his taking over. The tenure is normally for three years. Kumar, took over only in July 2017, has read more »

Bizman smuggling exotic birds trapped in DRI’s cage.

09-10-2018

Mumbai: A businessman was arrested after 34 rare birds—19 of them of exotic species—were seized from him by officials of the Mumbai unit of the directorate of revenue intelligence (DRI).

The accused, Dominic Sequeira (40), who is from Pune was arrested outside the Kolkata read more »

Passenger caught handing over contraband to three others.

08-10-2018

Four Indian nationals, who were trying to smuggle crude chains, kadas and pendants of gold worth Rs 1.86 crore, were arrested by the Customs at the Mumbai international airport on Saturday.

According to officials, based on profiling and intelligence, a team of the Air read more »

Four held for smuggling Rs. 2 crore gold.

08-10-2018

Mumbai: Air intelligence unit (AIU) sleuths arrested four passengers at Mumbai international airport for allegedly possessing and smuggling over 6.5 kg gold worth nearly Rs 2 crore. The consignment was handed by one of the passengers to the other three who were to fly from Mumbai for read more »

Six S Koreans held with 9kg gold in rectum, bags.

07-10-2018

Mumbai: Customs officials at the airport here on Saturday arrested six South Korean women who had hidden 9kg gold in their rectum and baggage. Officials said 47 gold pieces worth Rs 2.6 crore were seized.

The six were arrested after the air intelligence unit read more »

DRI busts another syndicate involved in racket of illegal import/smuggling of Kerosene - makes massive seizure of 139 containers of smuggled item at Kandla.

05-10-2018

Specific tip was received by the DRI Ahmedabad that illegal import/smuggling of Diesel and Kerosene continues to take place through Kandla despite DRI’s seizure of the entire ship load of smuggled diesel carried by vessel MT AL HEERA a few months back. Discreet watch was accordingly read more »

18% GST - ‘Joint development of realty projects unviable due to GST’.

04-10-2018

New Delhi: Joint development of a real estate project, including housing, has become unviable due to inclusion of such a practice under the GST regime, say developers. Joint development agreements (JDAs) now attract GST at the rate of 18%.

According to the new regime, read more »

GST collections marginally up at ?94,442 crore in Sept.

02-10-2018

New Delhi: The gross GST revenue collected in September totalled Rs 94,442 crore, marginally higher than the previous month’s receipts, prompting experts to forecast an acceleration in the months ahead.

The total receipts are still below the Rs 1-lakh crore mark, which some policy read more »

Cosmetics containers stolen, cargo sold in Crawford Market.

01-10-2018

Mumbai: Two weeks after two cosmetics-laden containers were reported missing from a freight station in Panvel, five people have been arrested—three for stealing the containers and two for selling the contents—and some of the cargo recovered.

Officials said the containers were among 12 unclaimed/uncleared read more »

Illegal MP lab manufacturing ‘doomsday chemical’ busted - In A First, 9Kg Of Fentanyl Seized, ‘America-Hating’ Scholar Held.

30-09-2018

New Delhi: In an operation spread over a week, the Directorate of Revenue Intelligence (DRI) with the help of a team of scientists from Defence Research & Development Establishment busted an illegal laboratory in Indore and recovered 9 kg of synthetic opioid, Fentanyl, that could have potentially read more »

States remain short of GST growth targets - Despite Improvement, Overall Deficit At 13%.

29-09-2018

New Delhi: The goods and services tax (GST) collection of states was 13% lower than the projected level, although there was improvement in the overall receipts, with six states staying ahead of the April-August target. “Optically, some facts surface that create an impression but it may be read more »

Panel set up to decide on GST cess as debate rages.

29-09-2018

New Delhi: The GST Council on Friday decided to set up a seven-member committee headed by Bihar deputy chief minister Sushil Modi to suggest a plan for imposition of additional tax for financing rehabilitation after natural calamities. The panel was announced as there was no consensus on read more »

‘DIDN’T PASS ON BENEFITS’ - GST anti-prof iteering body fines Lifestyle Int’l.

28-09-2018

New Delhi: The National Anti-Profiteering Authority (NAA) has penalised retail chain Lifestyle International for not passing on the benefit of GST rate reduction to a customer.

A complaint was filed by a customer alleging that the retail chain had not passed on the benefit read more »

Businessman from SoBo held for smuggling gold worth Rs.1cr.

09-09-2018

Mumbai: DRI officials on Friday arrested a south Mumbai businessman in a Rs 1 crore gold smuggling racket. Taher Yunus Patanwala was arrested after being on the run for nearly eight months. DRI had earlier arrested Duriya Esmail Soni and Yusuf Lokhandwala.

In February 2017, officials read more »

CA, two businessmen arrested for GST fraud.

07-09-2018

Mumbai: The central GST authorities in Thane on Wednesday arrested two businessmen and a chartered accountant for allegedly floating fake companies and fraudulently claiming input tax credit on transactions of over Rs 60 crore.

Input tax credit allows taxpayers to claim credit for taxes read more »

523 RARE TORTOISES SEIZED FROM TRAIN PASSENGER.

07-09-2018

Directorate of Revenue Intelligence (DRI), in a joint operation with the wildlife and forest department, seized 523 star tortoises from a woman passenger coming from Comibatore.

Acting on a tip-off, the Mumbai zonal unit arrested the woman, travelling from Puttaparthi in Andhra Pradesh to read more »

4-ton ‘shark fin’ cargo offloaded in Malaysia.

05-09-2018

Mumbai: A container carrying “ray skin” that left Chennai for Hong Kong a couple of days ago was offloaded at Malaysia on Tuesday at the behest of the Directorate of Revenue Intelligence (DRI) as the agency suspects its contents to be 4,000kg shark fins. The DRI, which read more »

8,000kg shark fins worth Rs.45cr seized, four arrested.

04-09-2018

DRI: 16,000 Fish Killed For This Consignment

Mumbai: The Directorate of Revenue Intelligence (DRI) seized 8,000kg shark fins worth Rs 45 crore and arrested four persons who were running an export racket. A DRI official said around 16,000 sharks would have been killed to read more »

How prone is GST to evasion?

03-09-2018

Recently, the Finance Minister of a State, who was also responsible for signing the GST and is now a member of the GST Council, made a remark that some shell companies are coming up which are designed to evade GST. According to him, this could have been read more »

Rs. 2.4-crore foreign cigarettes seized, 2 held for smuggling.

22-08-2018

Mumbai: The Directorate Revenue of Intelligence (DRI) has busted a smuggling racket at Manish Market and Musafirkhana at Masjid Bunder in south Mumbai and seized foreign cigarettes worth around Rs 2.4 crore. Following raids at six places, including two houses, the DRI also arrested two racketeers, and read more »

3 held for trying to smuggle 6kg gold at airport’s duty-free zone.

20-08-2018

Mumbai: Smugglers seem to have found a clever way of getting contraband into the country: the duty free zone.

The customs air intelligence unit (AIU) on Sunday arrested two passengers from Bangkok with 6kg of gold bars worth Rs 1.67 crore upon their arrival read more »

Gold worth Rs. 4cr seized at Pune airport, one arrested.

17-08-2018

Mumbai: In its first major seizure, Directorate of Intelligence (DRI) officials in Pune seized over 10 kg gold worth nearly Rs 4 crore on Thursday. The gold was being smuggled by a group of four passengers coming from Dubai who left the gold in the airport toilet read more »

PAID LESS ON ‘BABY WIPES’?

16-08-2018

Himalaya under lens for alleged GST evasion

New Delhi: The government has initiated action, including searches, against Bengaluru-headquartered Himalaya Drug Company for alleged evasion of goods and services tax (GST) on wet baby wipes.

The company, which sells products ranging from read more »

Rs. 47L gold bars found under aircraft seat.

16-08-2018

Mumbai: Gold bars worth over Rs 47 lakh were recovered from under a seat in an Air India (AI) flight at the city international airport on Wednesday.

A Customs official said that acting on a tip-off, the Air Intelligence Unit (AIU) searched the aircraft read more »

DRUG CAPSULES IN TALCUM POWDER - Brazilian national held with Rs. 2.5cr cocaine at airport.

13-08-2018

Flew In From Ethiopia, Was Going To Delhi

Mumbai: A Brazilian national was caught by the Customs with 457gm cocaine worth Rs 2.5 crore at Mumbai international airport early on Sunday. The cocaine was concealed in capsules which were hidden inside talcum powder bottles read more »

Smuggling of gold from HK: Bizman held.

13-08-2018

Mumbai: A businessman from Surat was arrested on Sunday for allegedly being a part of a smuggling gang that used to conceal gold in electronic gadgets and smuggled them into India through cargo. Directorate of revenue intelligence (DRI) officials arrested Mahesh Popatbhai Italia after Khawaja Moinuddin Shaikh, read more »

Rs. 10 crore gold smuggled from HK seized at airport.

07-08-2018

Mumbai: In a single day, 36kg gold worth Rs 10 crore, smuggled in via an air courier in two consignments from Hong Kong, was seized at the airport by customs and directorate of revenue intelligence (DRI) officials on Friday night.

Both agencies were working read more »

GST? What GST?

07-08-2018

It is almost 11 months since the Goods and Services Tax (GST) came into being. Yet, the necessary consequential changes have not been made in the Spe­cial Economic Zones (SEZ) Act, 2005, or the SEZ Rules, 2006.

There is no mention of GST read more »

Smugglers go via Hong Kong, get Rs. 5cr gold in electronic items.

06-08-2018

Mumbai: The Directorate Revenue of Intelligence (DRI) busted a major gold smuggling racket wherein the gang used to hide gold bars in power supply electronic devices. In a big seizure this year, DRI seized 18 kg of gold bars worth Rs 5.4 crore cleverly concealed inside electronic read more »

Sanitary napkin makers face scrutiny on sharing GST gains - No Duty Cuts For MSMEs - Rules Likely To Be Eased Today.

04-08-2018

New Delhi: The finance ministry is conducting a cost calculation of sanitary napkin manufacturing to see if the benefits from GST waiver have been fully passed on to consumers or not, even as it appeared satisfied with sharing of gains for other products on which rates have read more »

Gold pipes, bars hidden in roller skates, underwear seized from flyers - Three arrests in two cases at the airport.

03-08-2018

In two separate cases, the Customs department at the Mumbai airport seized crude gold pipes cleverly concealed inside roller skates and gold bars hidden in undergarments from two Indians upon their arrival from Riyadh and Dubai.

Another person, who was waiting at the arrival read more »

Air passenger held with gold concealed in pair of skates.

03-08-2018

Mumbai: A passenger from Riyadh was booked for trying to smuggle in gold concealed in a pair of skates he was carrying along. He was among three booked by airport Customs in two gold smuggling cases worth Rs 72 lakh recently.

Last Friday, officials read more »

GST collections surge to 3-month high in June.

02-08-2018

New Delhi: GST collections were at three month high in June with the total mop-up estimated at Rs 96,483 crore, a shade lower than the monthly target of Rs 1 lakh crore.

The gross mop-up, highest since March, is in line with the target read more »

TAX BENEFITS - Anti-profiteering body seeks Airtel, IndiGo’s inputs on GST.

31-07-2018

New Delhi: The GST antiprofiteering authority has sought inputs from Bharti Airtel and budget airline IndiGo on whether GST or credit allowed on inputs in the new regime has created room for reduction in prices.

Taking suo moto cognisance of the impact of GST read more »

Needed decisions by GST Council.

30-07-2018

The decision of the Goods and Services Tax (GST) Council to cut the rate on many items and make several changes to the laws and procedures has been widely welcomed, though some of its members have expressed dissatisfaction with its decision making process.

read more »

Sanitary napkins to be 1.5-2.5% cheaper, not 12%.

27-07-2018

Mumbai: With the government not giving in to the demands of the Feminine and Infant Hygiene Association (FIHA) to provide input tax credit (ITC) on sanitary napkins, large organised players are said to be working on reducing product prices in the range of 1.5-2.5%. Contrary to the read more »

Has GST filing time been cut to a third? - No, Say Experts.

27-07-2018

New Delhi: The government on Thursday said GST has reduced the number of tax filings for businesses, while slashing the preparation, filing and tax payment time to 36 hours, which is almost a third of the 105 hours that were spent earlier, drawing a sharp response from read more »

DRI sleuths arrest ‘gold smuggler’ after 45-min chase from CSMT to sea link.

27-07-2018

Mumbai: Directorate of Revenue Intelligence (DRI) officials nabbed Mohammad Jamadar, vice-president, South Mumbai District Congress, on Thursday in an alleged 15kg gold smuggling racket after a 45-minute car chase from CSMT to Bandra-Worli sea link.

The DRI sources said that Jamadar was the mastermind read more »

Foreign currency racket busted, eight held, Rs. 2.7cr seized.

27-07-2018

The Directorate of Revenue Intelligence (DRI) has busted a foreign currency smuggling racket at the international airport and arrested eight people in the past two days.

DRI intercepted four passengers headed to Dubai and Bangkok on two separate flights and a search resulted yielded read more »

Rs. 2cr gold bars seized from city hotel room.

26-07-2018

Mumbai: Crime branch officials have busted a smuggling racket and arrested five people, including two women.

Police said the contraband was smuggled in through Pune international airport and sold in Zaveri Bazar in Mumbai, and Chennai.

The crime branch has recovered read more »

White goods sales set to surge on 7-8% price cut.

24-07-2018

New Delhi: The white goods industry is anticipating a bumper festive season as the latest round of duty cuts in GST is expected to combine with gains from a healthy monsoon to spur demand in rural and urban areas. The industry had a dull festive period last read more »

GSTN’s IT tools to track evaders.

24-07-2018

New Delhi: GST Network (GSTN) is developing IT tools to help the government crackdown on evaders as well as those who have stopped filing returns.

Even as returns are not being matched currently, GSTN is testing a tool for tax officers at the Centre read more »

No fresh relief for Vaishno Devi, Amarnath trusts.

23-07-2018

New Delhi: The government has rejected requests from the Shri Amarnathji Shrine Board and the Shri Mata Vaishno Devi Shrine Board to exempt all services provided by them from GST.

The fitment committee has suggested that several services — such as sale of prasad read more »

Hotels breathe easy with tax on actual rate.

23-07-2018

New Delhi: The next time you stay in a five-star, the hotel will no longer have to offer you their ‘European Plan’ (EP) — which includes only basic room rate (no breakfast) — in order to have the lowest rack rate of below Rs 7,500 and avoid read more »

States, UTs have up to 43% GST revenue gap - Only Three States Report Surplus Collections.

23-07-2018

New Delhi: Only three states — Manipur, Mizoram and Arunachal Pradesh — have reported surplus GST collections compared with the average monthly revenue they should earn to ensure that the Centre does not have to compensate them for any loss.

At the other end read more »

Sanitary napkin makers need to pass on entire gain.

23-07-2018

New Delhi: Leading sanitary napkins manufacturers, such as P&G and Johnson & Johnson, will have to pass on almost the entire gain from the GST exemption to consumers. Additionally, these manufacturers cannot take refuge in loss of input tax credit (ITC) to pocket some of the benefit read more »

Footwear, Small-TV Sets Seen As Items For Arbitrage.

23-07-2018

New Delhi: You can blame businesses for tax evasion but not for tax planning. Within hours of the GST Council reducing rates on 88 items, companies and tax consultants have got down to look at ways on how to make the best use of the mechanism to read more »

With exceptions in, cos begin tax planning.

23-07-2018

Within hours of the GST Council reducing rates on 88 items, companies and tax consultants have got down to looking at ways on how to make best use of the mechanism to protect their margins, while staying on the right side of law to avoid anti-profiteering action. read more »