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Shell firms under scanner of tax authorities over fake ITC claims
Thousands of entities and their beneficiaries that allegedly created multiple shell firms to represent fake transactions without any underlying goods and services for availing of input tax credit (ITC) are under the scanner of tax authorities. Goods and services tax (GST) officials have prepared a detailed list in this regard and will target such entities during a two-month-long special drive starting May 16. Read more...
Adani Enterprises to consider stock sale months after short-seller turmoil
Less than four months after allegations of fraud by a short seller tipped his business empire into crisis, billionaire Gautam Adani is considering tapping equity markets in a major test of investor confidence.
Adani Enterprises Ltd., the Indian tycoon’s flagship, said in a statement on Wednesday it’s holding a May 13 board meeting to consider selling stock. The company didn’t disclose how much money it intends to raise or who it’s working with on a potential deal. Read more...
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Govt promises probe in alleged breach of privacy involving WhatsApp
The Government of India will examine an alleged breach of privacy involving WhatsApp and might consider weaving safeguards into the Digital Personal Data Protection Bill that is in the works. This is in response to a Twitter engineer’s claim that the messaging app accessed the microphone of his smartphone when it was not in use.
Meta, Facebook’s parent company, owns WhatsApp, which has an estimated 500 million users in India. The messaging app was already at the centre of a debate about scam calls from overseas phone numbers to Indian users. Read more...
Go First likely to resume flights on May 24 with fewer aircraft: Report
Go First is expected to restart flights by May 24 with 23 aircraft but with a smaller operation. Till May 2, the airline was operating 27 aircraft. The airline has also discussed plans to resume flights with the Centre. Go First had officially suspended the sale of tickets till May 15. Read more...
Govt plans green fuel port usage, bunkering in net-zero target push
The ministry of ports, shipping, and waterways (MoPSW) on Wednesday launched green port guidelines for India’s 12 major ports in another push to decarbonise the transport sector, a major contributor to the country’s carbon emissions.
According to the Harit Sagar guidelines, the ministry will push for data monitoring based on environmental performance indicators. “This also covers aspects of the National Green Hydrogen Mission pertaining to ports, development of green hydrogen facility, LNG bunkering, offshore wind energy, and provides provision for adopting global green reporting initiative standard,” it said. Read more...
