Income Tax Department conducts search operations in Gujarat The Income Tax Department initiated search and seizure operation on 03.12.2021 on a prominent group of Surat, engaged in the business of construction of residential and commercial complexes, land transactions as well as real estate financing. The search action covered more than 40 premises spread over Surat and Mumbai. During the […]
Income Tax Department conducts search operations in West Bengal The Income Tax Department initiated search operation in the case of two major manufacturers and suppliers of refined lead, lead alloys and lead oxides on 07.12.2021. The search operation covered 24 premises spread over in the states of West Bengal and Uttar Pradesh. During the search and seizure action, […]
Pursuant to detailed analysis as brought out above, it is established that reversal trades are not normal transactions and it clearly demonstrates beyond reasonable doubt that the Noticee had intentionally executed these trades and manipulated the volume by artificial trading pattern in the contract ‘HPCL15FEB600.00CE’ where the trades executed by the Noticee during the Investigation […]
The objective of Consultation Paper regarding developing ‘One Commodity One Exchange’ is to solicit comments/views from the public on the proposal regarding developing the concept of ‘One Commodity One Exchange’ so as to reduce fragmentation of liquidity and help every stock exchange to develop an exclusive set of un-fragmented liquid contracts.
The officers of CGST Mumbai Central Commissionerate have smashed a racket of fake Input Tax Credit (ITC) generators, who had been passing this fake ITC to the tune of Rs. 35 crores to various entities. The officers have arrested the kingpin for generating and passing on this fake credit to more than 15 entities in […]
To promote startups across all the State/UTs, Government of India has launched Startup India initiative in 2016. This initiative aims at building a strong ecosystem for nurturing innovation and Startups in the country. In order to meet the objectives of the initiative, Government has launched various programmes to promote Startups across the country are as […]
Creation of Jobs by Startups Startup India is a flagship initiative of Government of India which aims at building a strong ecosystem for nurturing innovation and Startups in the country. This initiative was launched on 16th January 2016. The startups are recognized as per eligibility conditions prescribed under G.S.R. notification 127 (E) dated 19th February, 2019. […]
Single Window System While presenting Budget 2020-21, Finance Minister announced plans to set up an Investment Clearance Cell (ICC) that will provide ‘end to end’ facilitation and support to investors, including pre-investment advisory, provide information related to land banks and facilitate clearances at Centre and State level. The cell was proposed to operate through an […]
Collaboration with Foreign Companies under Atmanirbhar Bharat The Government announced Atmanirbhar Bharat Abhiyan – a special economic package of Rs20 lakh crore on 12.05.2020 with the aim of making the country self-reliant and to focus on local manufacturing. It focuses on preparing the country for tough competition in global supply chains, enhance the ease of […]
Keeping in view India’s vision of becoming ‘Atmanirbhar’ and to enhance India’s Manufacturing capabilities and Exports, an outlay of INR 1.97 lakh crore (over US$ 26 billion) has been announced in Union Budget 2021-22 for PLI schemes for 13 key sectors of manufacturing starting from fiscal year (FY) 2021-22. The 13 key sectors include already […]
