DGGI Gurugram officials arrest man for input tax credit fraud of more than Rs 43 crore
NEW DELHI: The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana, has arrested Ravinder Kumar (aka Ravinder Garg), resident of New Delhi on charges of creating and operating fictitious firms on forged documents which were used in availing of and passing on Input Tax Credit on bogus Invoices without actual receipt and […]
Noida Authority takes over land possessed by Wave Group over pending dues
NOIDA: The Noida Authority on Wednesday said it has taken over possession of 1.08 lakh sq metre commercial land that was allotted to real estate developer Wave Group, over unpaid dues of about Rs 2,500 crore. The group termed the action as “high handed” and “illegal” and added that it would take “appropriate legal recourse” […]
ED attaches assets of Jamtara-based cyber criminals
NEW DELHI: The Enforcement Directorate (ED) has attached assets worth about Rs 66 lakh of alleged cyber criminals based in Jharkhand’s Jamtara district, the central probe agency said on Thursday. It said the assets, provisionally attached under the Prevention of Money Laundering Act (PMLA), include three immovable residential properties situated at Mirga village in the […]
Most economies won’t return to pre-Covid-19 activity levels by 2022: Moody’s
NEW DELHI: Moody’s Investors Service on Thursday said the credit downturn arising out of COVID-19 will be short-lived but most economies will not return to pre-pandemic activity levels until 2022. In the year since the World Health Organisation (WHO) declared COVID-19 a pandemic on March 11, 2020, the virus has disrupted the global economy and triggered […]
BlackOpal Group gets NBFC License
NEW DELHI: The asset management company BlackOpal announced that it has received a license from the RBI to start NBFC operations; this will operate under a separate SPV of the group BlackOpal Financial Services Pvt Ltd. The company has already raised USD 1.5 million for minority stake dilution. The company plans to use 50% of […]
Meghalaya Chief Minter presents tax-free deficit budget
SHILLONG: Meghalaya Chief Minister Conrad K Sangma on Wednesday presented a deficit budget for the financial year 2021-22 without proposing any new tax. It is estimated that the total receipts will be Rs 17,509 crore including borrowings to the tune of Rs 2,247 crore, said Sangma who also holds the finance portfolio. The total expenditure […]