Latest news with #ExciseAct
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Business Standard
2 days ago
- Business
- Business Standard
CAG flags excise lapses in Maharashtra, cites revenue loss of several crore
The Comptroller and Auditor General (CAG) of India has pulled up the Maharashtra state excise department for serious lapses in its operations, which have led to a substantial revenue shortfall. The CAG report pointed out that due to incorrect assessment of licence renewal fees, the state lost Rs 20.15 crore in revenue and Rs 70.22 crore in interest. The audit further stated that failure to implement revised rates for supervision fees had caused an additional shortfall of Rs 1.20 crore. According to the report, the then Excise Commissioner exempted excise duty on old stock of beer without obtaining prior approval from the state government. The report also highlighted that the delayed submission of mild beer samples for chemical analysis had hampered tax recovery to the tune of Rs 73.18 crore. "Under the Bombay Prohibition (Privilege Fee) Rules, 1954, a provision exists to charge fees for changes in partnership. However, no such provision was applicable to significant changes in shareholding of public limited companies, resulting in a loss of Rs 26.93 crore to the state," the CAG observed. The absence of a provision in the Excise Act for declaring production cost also led to a missed opportunity for the government to earn additional revenue, it added. The audit further revealed that in the case of Canteen Stores Department (CSD), the production cost of 11 products or brands was undervalued, causing a revenue loss of Rs 38.34 crore in excise duty. Additionally, errors in the purchase cost of imported foreign liquor resulted in non-collection of Rs 11.48 crore between August 2018 and March 2022, and Rs 2.89 crore between May 2017 and March 2022. The cumulative effect of these lapses caused a massive revenue loss for the government, raising serious concerns about the functioning of the Excise Department, the CAG stated.
The Hindu
2 days ago
- Business
- The Hindu
Maharashtra excise department lapses caused revenue loss of several crore rupees: CAG
The Comptroller and Auditor General (CAG) of India has pulled up the Maharashtra State excise department for serious lapses in its operations, which have led to a substantial revenue shortfall. The CAG report pointed out that due to incorrect assessment of licence renewal fees, the State lost ₹20.15 crore in revenue and ₹70.22 crore in interest. The audit further stated that failure to implement revised rates for supervision fees had caused an additional shortfall of ₹1.20 crore. According to the report, the then Excise Commissioner exempted excise duty on old stock of beer without obtaining prior approval from the State government. The report also highlighted that the delayed submission of mild beer samples for chemical analysis had hampered tax recovery to the tune of ₹73.18 crore. "Under the Bombay Prohibition (Privilege Fee) Rules, 1954, a provision exists to charge fees for changes in partnership. However, no such provision was applicable to significant changes in shareholding of public limited companies, resulting in a loss of ₹26.93 crore to the state," the CAG observed. The absence of a provision in the Excise Act for declaring production cost also led to a missed opportunity for the government to earn additional revenue, it added. The audit further revealed that in the case of Canteen Stores Department (CSD), the production cost of 11 products or brands was undervalued, causing a revenue loss of ₹38.34 crore in excise duty. Additionally, errors in the purchase cost of imported foreign liquor resulted in non-collection of Rs 11.48 crore between August 2018 and March 2022, and ₹2.89 crore between May 2017 and March 2022. The cumulative effect of these lapses caused a massive revenue loss for the government, raising serious concerns about the functioning of the Excise Department, the CAG stated.
The Hindu
3 days ago
- The Hindu
Two kg ganja seized, one arrested
The Hubballi Town Station Police have arrested a man and seized over two kg of ganja from him. Deputy Commissioner of Police (Law and Order) Mahaning Nandagavi gave the name of the arrtested as Nagaraj Baddi of Old Hubballi. He was intercepted and arrested by the police near Muttu Maremma Temple on Goods Shed road in Hubballi. Mr. Nandagavi said that the consignment had been brought to Hubballi from Orissa by train and the accused was caught when he was trying to send the consignment to a party in Goa. Two kg and 64 g of ganja, a mobile handset and other articles have been recovered from the accused. The accused similar case registered against him at Gokarna police station. This part cases under Excise Act had been registered against him in Haveri Town, Mundgod, and Dharwad suburban police stations. They were on the look out for those involved in the crime including accomplices in Goa and Orissa.
The Hindu
3 days ago
- The Hindu
Man arrested in Mangaluru for cheating people of over ₹32 cr
Mangaluru city police on Thursday arrested a 43-year-old man on charges of cheating several people of over ₹32 crores under the pretext of paying stamp duty towards easy loans he promised to them. City Police Commissioner Sudheer Kumar Reddy identified the accused as Roshan Saldanha, a resident of Bollagudda in Bajal, in the city. The arrest was made in connection with two cases of 'criminal breach of trust and cheating' registered by the Cybercrime, Economic Offences, and Narcotics (CEN) Police Station of the Commissionerate. CEN Assistant Commissioner of Police Ravish S. Naik led the operation under the guidance of Mr. Reddy. With the CEN police, upon a tip-off, raided the house of the accused on Thursday evening and caught him at a concealed room in his house, the Commissioner said. During the investigation, police found that Saldanha had cheated entrepreneurs from Goa, Bengaluru, Pune, Tumakuru, Kolkata, Sangli, Lucknow, and Bagalakote, among others, to the tune of ₹32 crore. After receiving 'stamp duty' from the victims, the accused reportedly remained incommunicado with them. Excise Act Mr. Reddy stated that the accused led a lavish life in his palatial house, which was equipped with high-end furniture, fixtures, and electronic items. Saldanha also had a private bar with a collection of foreign and Indian-made foreign liquor, he said. During the raid, the police seized liquor worth ₹6.72 lakh, several documents, signed blank cheques, 667 grams of gold jewellery, a diamond ring worth approximately ₹2.75 crore, and other items. The Commissioner said the Excise Department would register a separate case under the Excise Act against Saldanha for possessing liquor in excess of the permissible quantity. Saldanha faces cheating cases in Chitradurga, Mumbai, and other places across the country, which can be ascertained after a thorough investigation.
CTV News
3 days ago
- CTV News
OPP seize 2,000 unstamped cigarettes during traffic stop on Hwy. 417
Ontario Provincial Police say officers found 2,000 unstamped cigarettes inside a vehicle during a traffic stop on Highway 417 in Ottawa Wednesday night. (OPP/X) Ontario Provincial Police discovered 2,000 unstamped cigarettes after stopping a vehicle observed driving erratically on Highway 417 in Ottawa. Police say shortly before 11 p.m. Wednesday, a driver was stopped on Highway 417 near Innes Road to 'check their sobriety after officers observed erratic driving.' 'A roadside screening device was utilized and the driver registered a warning range suspension,' OPP Const. Michael Fathi said. 'Officers also located 2,000 unstamped cigarettes.' Fathi says the driver had their licence suspended for three days and will face charges under the Excise Act. On Tuesday, the OPP discovered 17,820 kilograms of contraband tobacco inside a tractor-trailer during a traffic stop on Hwy. 401 near Kingston.
