India has issued a notice to German automaker Volkswagen for allegedly evading $1.4 billion in taxes by “wilfully” paying lesser import tax on components for its Audi, VW and Skoda cars, a document shows, in what is one of the biggest such demands. A notice dated Sept. 30 says Volkswagen used to import “almost the … Read more
Chinese smartphone brand Vivo claimed the No 1 spot among handset makers in India for the first time in the third quarter, ahead of the region’s long-time leaders Xiaomi and Samsung Electronics. Vivo shipped 9.1 million units in India in the three months through September, growing 26 per cent year on year and capturing a … Read more
Manchester United is embroiled in discussions with HMRC (Her Majesty’s Revenue and Customs) over an unpaid tax bill relating to arrangements with players and agents, raising concerns about the club’s transfer plans and financial stability. This development is crucial for the Red Devils as they navigate both on-field challenges and off-field financial scrutiny. The talks … Read more
The Directorate General of Goods and Services Tax Intelligence (DGGI) has initiated a probe into possible tax evasion of ₹850 crore in 2020-21 and 2021-22 by some large commercial coaching centres and could soon issue show cause notices to them, said officials. The investigation relates to misdeclaration of the number of enrolments and non-payment of … Read more
Most cryptocurrencies are prone to extreme price fluctuations. But in the case of last week’s bloodshed, an unexpected participant played truant. Stablecoins are usually considered to be the calmer, steadier cousin of the otherwise volatile cryptocurrencies. (Representational Photo) In a written reply to query in Lok Sabha, MoS Finance Pankaj Chaudhary said recovery from the … Read more
