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आर्थिक

GST and Income-Tax evasion by banquet-halls should be curbed

GST and Income-Tax evasion by banquet-halls should be curbed

आर्थिक
There are reports that many banquet-halls demand in cash for holding functions to evade GST and thus in turn Income Tax also. It should be made compulsory for each banquet-hall to submit complete details of functions held there to some authority to be especially set up for the purpose. Simultaneously all those conducting functions including marriage-celebrations should also file details of celebrations with the same authority. Specially developed software can match the data, and catch hold of those filing false returns. This data by the suggested authority can be shared with Income Tax Department and GST authorities. Even marriage-cards should have print-number of cards and other details about marriage-celebrations as decided by the authority suggested where functions-details are to be fil...
ब्रिक्‍स व्‍यापार परिषद् ने अगली शिखर बैठक तक 500 अरब डॉलर के आपसी व्‍यापार का लक्ष्‍य हासिल करने की रूपरेखा तय की : प्रधानमंत्री

ब्रिक्‍स व्‍यापार परिषद् ने अगली शिखर बैठक तक 500 अरब डॉलर के आपसी व्‍यापार का लक्ष्‍य हासिल करने की रूपरेखा तय की : प्रधानमंत्री

आर्थिक
प्रधानमत्री श्री नरेन्‍द्र मोदी ने ब्रिक्‍स व्‍यापार परिषद् और नव विकास बैंक-एनडीबी के साथ ब्रिक्‍स नेताओं की बैठक में हिस्‍सा लिया।   प्रधानमंत्री ने इस अवसर पर कहा कि ब्रिक्‍स व्‍यापार परिषद् ने अगले शिखर सम्‍मेलन तक ब्रिक्‍स के सदस्‍य देशों के बीच 500 अरब डॉलर के आपसी व्‍यापार का लक्ष्‍य हासिल करने की रूपरेखा तय की है। उन्‍होंने कहा कि सदस्‍य देशों के बीच आर्थिक पूरकताओं की पहचान   इस प्रयास में महत्‍वपूर्ण होगी। उन्‍होंने कहा कि नव विकास बैंक और ब्रिक्‍स व्‍यापार परिषद् के बीच साझेदारी समझौता दोनों ही संगठनों के लिए लाभदायक रहेगा।   श्री मोदी ने ब्रिक्‍स देशों और नव विकास बैंक से प्राकृतिक आपदाओं को झेलने में सक्षम अवसंरचनाओं के निर्माण की वैश्विक पहल में साथ आने की अपील की। इसके साथ ही उन्‍होंने भारत में नव विकास बैंक की क्षेत्रीय शाखा खोले जाने का काम ...
22 करोड़ रुपये के फर्जी जीएसटी चालान जारी करने वाले गिरोह का पर्दाफाश

22 करोड़ रुपये के फर्जी जीएसटी चालान जारी करने वाले गिरोह का पर्दाफाश

आर्थिक
      सेन्‍ट्रल जीएसटी दिल्‍ली नॉर्थ की कमिशनरी ने वस्‍तुओं और सेवाओं की वास्‍तविक आपूर्ति के बिना फर्जी चालान जारी करने के एक गिरोह का पर्दाफाश किया है। इस मामले में श्री नवीन मुटरेजा और श्री केशवराम को गिरफ्तार किया गया है और पटियाला हाऊस कोर्ट के मुख्‍य मेट्रोपोलिटन मजिस्‍ट्रेट ने उन्‍हें 14 दिन की न्‍यायिक हिरासत में भेज दिया है। आरोपी 42 फर्जी कंपनियां चला रहे थे, जो धोखाधड़ी से इनपुट टैक्‍स क्रेडिट (आईटीसी) को आगे बढ़ाने का काम करती थी,जिसके कारण सरकारी खजाने को धोखे से लूटा जा रहा था। प्रथम दृष्‍ट्या धोखाधड़ी से करीब 22 करोड़ रुपये के चालान काटे गये, जिसमें 150 करोड़ रुपये की राशि शामिल थी।       दोनों आरोपी अन्‍य बातों के अलावा दिल्‍ली एनसीआर,  हरियाणा, राजस्‍थान और उत्‍तर प्रदेश की फर्जी कंपनियों के जीएसटी पंजीकरण प्राप्‍त कर लेते थे और इसके लिए असंदिग्‍ध व्‍यक्तियों के दस्‍त...
Foreclosure-charges should be abolished from even Business-Loans by banks and NBFCs

Foreclosure-charges should be abolished from even Business-Loans by banks and NBFCs

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Reserve Bank of India (RBI) in an RTI response dated 03.09.2009 mentioned that RBI does not approve policy of foreclosure-charges on pre-payment of loans, but keeping short of issuing any directives. However foreclosure-charges subsequently were abolished in a phased manner starting from RBI notification dated 05.06.2012 for home-loans with last two RBI notifications in this regard issued on 02.08.2019 where pre-payment of all types of loans except business-loans both for banks and NBFCs were waived. With unprecedented economic-slowdown, business-activities have been drastically reduced where normal businessmen under pressure of loans wish to take sigh of relief by getting rid of loans of banks or NBFCs by arranging funds by selling assets or otherwise. Many NBFCs are charging foreclosu...
Public-sector banks collaborating with private-sector Insurance-companies instead of promoting public-sector LIC of India

Public-sector banks collaborating with private-sector Insurance-companies instead of promoting public-sector LIC of India

आर्थिक, समाचार
Presently many public-sector banks have collaborated with private-sector Insurance-companies for providing single-window service for banking and insurance. This wrong practice should be replaced by promoting public-sector LIC of India by terminating collaborations by all public-sector banks with private-sector Insurance-companies. Instead all branches of various public-sector banks should be authorized as agents for public-sector LIC of India by giving lucrative incentive-points to branch-managers and bank-employees bringing new policies. Even special LIC counters can be opened at select branches of various public-sector banks. Such a system will enable public-sector LIC of India to expand business manifolds that too by reducing number of LIC branch-offices thus saving a lot on operatin...

Punjab National Bank should clear its relation with PNB Metlife

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Punjab National Bank should clear its relation with PNB Metlife: Agents are befooling pubic through gimmick offers without providing any brochures PNB Metlife is an insurance-company using logo of public-sector Punjab National Bank, but there is absolute no clarity on exact relationship between Punjab National Bank and PNB Metlife where agents of PNB Metlife lure members of public through highly lucrative investment-offers but without giving any brochure or highlights of the offered schemes on website. It is clear that no government-saving scheme presently provides annual-interest more than eight-percent that too taxable and only for senior citizens. It is impossible that any public-sector company like PNB Metlife may provide above-referred extra-lucrative scheme. Punjab National ...
Balance in inoperative bank-accounts

Balance in inoperative bank-accounts

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Huge balance is lying in inoperative accounts in banks with even many account-holders having forgotten about their bank-accounts. Reserve Bank of India (RBI) has introduced Know-Your-Customer (KYC) forms which has been made mandatory also for closing such inoperative accounts. Such cumbersome practice not only is causing difficulty to account-holders wishing to close their inoperative accounts, but also creating a big loss of man-hours of bank-employees apart from unnecessary data-entries and record-keeping. Frauds are reported through some bank-employees misappropriating funds in such inoperative accounts where amount is large. RBI should direct all banks to close all accounts not operated for say last three years, and send the remittance through pay-orders by Speed Post at last known ...
Court-appointed arbitrators should be regulated to avoid tactics of money-minting

Court-appointed arbitrators should be regulated to avoid tactics of money-minting

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It is quite usual that retired judges of Supreme Court and High Courts are appointed arbitrators by courts, giving them much-much more income than they earn while their being judges in higher courts. There are reports that these arbitrators charge exorbitantly for each hearing. Even if all the concerned parties mutually agree for adjournment much before date of hearing, arbitrators insist on sending representation for adjournment on fixed date of hearing so that they may forcibly charge for a hearing held just for seeking adjournment. It has also been reported that after completion of hearing, arbitrators withhold their arbitration-award even for years. Any party approaching for an early arbitration-award, has to pay additional cost for doing so. If these practices are true, then it is ...
Discontinue minting of two-rupee coins at least till old same-sized one-rupee coins disappear from circulation

Discontinue minting of two-rupee coins at least till old same-sized one-rupee coins disappear from circulation

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Even though later-introduced smaller-sized coins in denominations of rupees one and two were introduced several years back, yet old one-rupee coins exactly in same size of later introduced two-rupee coins are still in circulation in large quantity. Fact is that old one-rupee coins outnumber later introduced smaller-sized one-rupee coins. But number of old bigger-sized two-rupee coins has diluted very much in circulation in comparison to later introduced smaller-sized two-rupee coins. Department of Economic Affairs and Reserve Bank of India RBI in larger public-interest should stop minting two-rupee coins at least till old one-rupee coins almost disappear from normal circulation. Since coins are usually recognized by hand-feel of their shape and size even by normal people what to talk of...
Make card-payment machines compulsory for all registered under GST

Make card-payment machines compulsory for all registered under GST

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Make card-payment machines compulsory for all registered under GST and whose accounts are auditable under Income Tax Act with compulsion to issue GST-invoices without being asked for To further promote digital-payments, installation of card-payment machines to accept payments must be made compulsory by retailers registered under GST or who have their account-books auditable under Income Tax Act to begin with in urban areas. It is surprising that such machines are not there even with many big renowned retailers in unorganised sector even in metro-cities like Delhi. There is large-scale GST-evasion by such renowned retailers selling their own manufactured products because they very hesitantly issue GST-invoices that too on specifically being asked for though they include GST in cost of th...