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Indian tax authorities carried out nationwide raids this week on Mirza International, one of the country’s most prominent footwear and leather companies, intensifying scrutiny of an industry long dogged by allegations of financial opacity.
Operation Palm Tree, carried out simultaneously in seven districts using over 200 tax officials, has reportedly unearthed fake invoices worth nearly Rs. 1,000 crore in the illegal scrap market. A top tax official said that input tax credit (ITC) of nearly Rs. 200 crore could have been illegally pocketed by unscrupulous traders using such fake invoices.
State Goods and Services Tax (SGST) department carried out raids in Bhopal, Katni and Shajapur on Friday following suspicion over unaccounted goods in storage for purpose of distribution ahead of elections.
Refusing to accept an undertaking by the Income Tax department that they will seal “non-incriminating” data seized from a lawyer’s office, a division bench of the Gujarat High Court Wednesday said that it would now hear the matter on merits.…
An Input Tax Credit (ITC) scam making use of bogus invoices was busted by the Karnataka Commercial Taxes Department. According to officials, scrap dealers had allegedly committed tax fraud against the government. Raids were carried out against 86 vendors by…
Officials of the state goods and services tax department (SGST) recently raided some business to consumer (B2C) traders dealing in several products at some 52 locations in the state. It was found that traders of ceramics, scrap, mobile phones, cosmetics,…
Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday asked officials to stop GST raids on traders for three days. The decision comes after aggressive protests by traders in Varanasi, Agra, and other major cities of Uttar Pradesh. In Varanasi, traders…
Traders in Uttar Pradesh’s Firozabad held a meeting against the raids conducted by goods and services tax (GST) officials. After the meeting, a delegation of traders, led by the provincial president of the UP Industry Trade Board, Mukund Mishra, met…
The state GST department has conducted raids in 71 districts of Uttar Pradesh in two days. In two separate raids, the department seized items worth Rs 2.55 crores and unearthed tax evasion of more than Rs 20 crores. The team…
The Income Tax department detected unaccounted income worth more than Rs 1,300 crore after it recently conducted searches against some individuals who had executed joint development agreements with some Karnataka-based real estate developers, the CBDT said on Thursday. The raids…