Latest news with #VinodGupta
India.com
6 days ago
- Business
- India.com
Nirmala Sitharaman Responds To Viral Allegations Of Corruption In GST Registration Process
Union Finance Minister Nirmala Sitharaman has answered queries raised in a viral LinkedIn post leveling allegations of corruption in the Goods and Services Tax (GST) registration process, vouching for the government's intention of ensuring transparency and provision of services on time. The reply came after Vinod Gupta, director and founder of VG Learning Destination, stated in an open social media post that he was being forced to pay a bribe to get a GST registration number for a company that involved his daughter and wife. Gupta stated that he had applied for the GST registration 20 days ago and still had not received it, commenting, "Tomorrow I will commit a crime. Giving and taking bribery: both are crimes." In a public post on X (formerly Twitter), the Finance Minister Sitharaman wrote: "It is our responsibility to serve taxpayers. But while doing that, we must be honest and transparent, because that's how we earn their trust. I believe the GST Board and officers will continue to be careful and quick in responding to people's issues." A detailed response from @cbic_india. To provide service to the taxpayer is our duty. While so serving the taxpayers, transparency and integrity are crucial in earning their trust and confidence. Confident that the Board and the field formations will remain sensitive and… — Nirmala Sitharaman (@nsitharaman) May 31, 2025 The row heated up with tax compliance specialist Abhishek Raja Ram also venting on social media, tagging the Central Board of Indirect Taxes and Customs (CBIC) and accusing systemic corruption in GST registrations. "CBIC has no idea of the ground reality… even VG Sir has to vent out his frustration," he posted, calling for senior officials to step in. CBIC has no idea of ground reality of corruption in GST Registrations. Their Executive Officers are so corrupt that even VG Sir has to vent out his frustration. Better Top level Officers take control of Registrations to save the country from corruption. Raise your voice Before… — Abhishek Raja "Ram" (@abhishekrajaram) May 30, 2025 Acting quickly, the CBIC released a clarification that Gupta's GST application was filed on May 26 and would be dealt with by the Delhi State GST, not the Central GST authorities. The board informed that the application was processed, but an inquiry was made as the rent agreement produced as address proof lacked the necessary designation. "The candidate was alerted to the inquiry, but yet to get a response," the CBIC said, cautioning Raja Ram against spreading unsubstantiated information. @FinMinIndia Dear @abhishekrajaram The fact of the case of Shri Vinod Gupta who wrote about GST registration issue on LinkedIn are as below: The application was filed this week on 26th May (Monday) which was assigned to Delhi State GST. The Central GST authorities had no… — CBIC (@cbic_india) May 31, 2025 The episode has retriggered debate about grassroots-level issues in GST rollout, particularly bureaucratic delays and charges of corruption. It also highlights how social media is increasingly being used to pin down institutions and elicit official reactions. Authorities have reaffirmed their pledge to treat taxpayer issues expeditiously while upholding procedural integrity.
News18
6 days ago
- Business
- News18
'Transparency and Integrity Are Crucial...': FM Sitharaman Reacts To CBIC Reply On GST Graft Allegation
Last Updated: Finance Minister Nirmala Sitharaman stressed the government's duty to offer transparent services to taxpayers after CBIC addressed GST corruption claims by a tax professional. Finance Minister Nirmala Sitharaman on Saturday said that providing services to taxpayers is the government's duty, and this must be done while maintaining transparency and integrity. She was reacting to the CBIC's detailed response to a GST corruption allegation on the 'X' platform. 'A detailed response from CBIC. To provide service to the taxpayer is our duty. While so serving the taxpayers, transparency and integrity are crucial in earning their trust and confidence. Confident that the Board and the field formations will remain sensitive and responsive," FM Nirmala Sitharaman said in a post on X on Saturday, May 31. A detailed response from @cbic_india. To provide service to the taxpayer is our duty. While so serving the taxpayers, transparency and integrity are crucial in earning their trust and confidence. Confident that the Board and the field formations will remain sensitive and… — Nirmala Sitharaman (@nsitharaman) May 31, 2025 What's The Issue? Vinod Gupta, founder and director of VG Learning Destination, shared a post on LinkedIn highlighting bribery in GST registrations. He said he applied for GST registration number of a firm 20 days ago. 'Objections started coming in. Till today, the number has not been allotted," he wrote. He said both giving and taking bribery are crimes. 'I know I will get it (GST registration number after committing the crime)," he wrote. The post has been deleted as it is not available on Gupta's LinkedIn timeline. Raja wrote, 'CBIC has no idea of ground reality of corruption in GST Registrations. Their Executive Officers are so corrupt that even VG Sir has to vent out his frustration. Better Top level Officers take control of Registrations to save the country from corruption. Raise your voice before it's too late. Please Stop your work for few seconds and raise your voice against corruption in GST." What CBIC Said The Central Board of Indirect Taxes and Customs (CBIC), which is the apex body on indirect taxes like GST, responded to Raja's post on X with a detailed clarification. It said the ARN (Application Reference Number) was pending for reply from taxpayer side and it was duly informed to the taxpayer. The application will be processed by the Delhi GST authorities upon receipt of the pending information. @FinMinIndia Dear @abhishekrajaram The fact of the case of Shri Vinod Gupta who wrote about GST registration issue on LinkedIn are as below: 👉The application was filed this week on 26th May (Monday) which was assigned to Delhi State GST. The Central GST authorities had no… — CBIC (@cbic_india) May 31, 2025 The CBIC wrote: 'Dear Abhishek Rajaram, The fact of the case of Shri Vinod Gupta who wrote about GST registration issue on LinkedIn are as below: The application was filed this week on 26th May (Monday) which was assigned to Delhi State GST. The Central GST authorities had no role in this matter. As per Delhi State GST authorities, the case was processed immediately and a query was raised about the missing designation of the person who has signed the Rent Agreement on behalf of the Company. At this stage the ARN was pending for reply from taxpayer side and it was duly informed to the taxpayer. The application will be processed by the Delhi GST authorities upon receipt of the pending information. You are kindly requested to not circulate wrong information on the social media without knowing the facts." FM Nirmala Sitharaman Reacts To this, FM Nirmala Sitharaman wrote on X, 'A detailed response from CBIC. To provide service to the taxpayer is our duty. While so serving the taxpayers, transparency and integrity are crucial in earning their trust and confidence. Confident that the Board and the field formations will remain sensitive and responsive." What Is A GST Registration Number? top videos View all A GST Registration Number, officially called the GSTIN (Goods and Services Tax Identification Number), is a unique 15-digit alphanumeric code assigned to businesses registered under the GST system. It is mandatory for entities whose turnover exceeds prescribed thresholds or who engage in interstate or online sales. The GSTIN enables businesses to collect tax, claim input tax credit, and file returns, ensuring legal compliance and operational transparency. It also boosts business credibility and helps avoid penalties for non-compliance. The Application Reference Number (ARN) is a unique number generated when a taxpayer submits an application on the GST portal, such as for new GST registration, amendment, or refund. The ARN helps track the status of the application. tags : Goods and Services Tax (GST) GST Nirmala Sitharaman Location : New Delhi, India, India First Published: May 31, 2025, 12:58 IST News business » tax 'Transparency and Integrity Are Crucial...': FM Sitharaman Reacts To CBIC Reply On GST Graft Allegation
Time of India
28-05-2025
- Automotive
- Time of India
DriveX Mobility appoints Vinod Gupta as VP of manufacturing to enhance operational growth
DriveX Mobility has appointed Vinod Gupta as its Vice President of Manufacturing to spearhead growth and operational scaling as the company expands nationwide in the pre-owned two-wheeler market . Gupta, bringing 24 years of automotive quality and manufacturing experience from Honda Cars India and Altigreen, will oversee manufacturing and refurbishment operations. He will be focusing on scaling vehicle certification systems and improving delivery capabilities as DriveX aims to reach 500 retail outlets by 2027. His appointment is a strategic move to strengthen DriveX's commitment to operational excellence and growth-ready manufacturing capabilities. Past experience Vinod Gupta's extensive background includes significant roles at Honda Cars India and electric vehicle start-up Altigreen. His experience encompasses setting up new manufacturing plants, overseeing quality for export models, and building manufacturing quality systems from the ground up. At Honda, Gupta contributed to the company's consistent leadership in product quality rankings across India. He also played a key role in ensuring quality for export models across global markets. During his time at Altigreen, he successfully scaled operations to a high-volume annual capacity within two years. This involved combining start-up agility with structured execution. "This role represents a meaningful next step in my journey. I've worked on four-wheelers, electric three-wheelers, and component manufacturing, and now moving into the two-wheeler space adds a new dimension. I look forward to building processes that are lean, scalable, and rooted in trust, so that every refurbished vehicle we deliver reflects our commitment to quality," said Gupta. New roles In his new position, Gupta will be responsible for the company's end-to-end manufacturing and refurbishment operations. A key focus will be on scaling vehicle certification systems. He will also work to improve delivery capabilities. DriveX is currently preparing to expand its footprint significantly. The company aims to have 500 retail outlets by 2027. Narain Karthikeyan, Founder & Director of DriveX, said "We are delighted to have Vinod join the DriveX leadership team. He not only possesses deep technical skills, but also has a track record of creating high-quality systems that scale. As we expand across India, his expertise in manufacturing and process excellence will be instrumental in delivering the consistency and trust that DriveX is known for." Education background Gupta's educational background includes a degree in Mechanical Engineering from MNIT Jaipur. He also holds an Executive Post Graduate Diploma in International Business from IIFT, New Delhi. He is a certified Lean Six Sigma Black Belt. Gupta has led initiatives across TQM, Quality 4.0, and enterprise-wide quality management systems.
Yahoo
31-01-2025
- Business
- Yahoo
Punjab Chemicals & Crop Protection Ltd (BOM:506618) Q3 2025 Earnings Call Highlights: ...
Quarterly Revenue: INR213.9 crore. 9-Month Revenue: INR698.2 crore, reflecting a year-on-year decline of 5.3%. Domestic Market Contribution (Quarterly): INR150 crore. International Market Contribution (Quarterly): INR60 crore. Gross Margin (Quarterly): 40%. EBITDA (Quarterly): INR19.3 crore, down 25.6% year-on-year. EBITDA Margin (Quarterly): 9%, down by 310 basis points year-on-year. Profit After Tax (Quarterly): INR6.1 crore, down 45%. PAT Margin (Quarterly): 2.8%. 9-Month Gross Margin: 39.4%, up by 60 basis points year-on-year. 9-Month EBITDA: INR73.7 crore, down 26% year-on-year. 9-Month Profit After Tax: INR31.9 crore, down 37%. 9-Month PAT Margin: 4.6%. Agrochemical Division Capacity Utilization: 72%. Performance Chemicals Division Capacity Utilization: 52%. Industrial Chemical Division Capacity Utilization: Operating at full capacity. Warning! GuruFocus has detected 2 Warning Sign with NXT. Release Date: January 29, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Punjab Chemicals & Crop Protection Ltd (BOM:506618) achieved a significant milestone by receiving in-principle approval from a major beverage manufacturer to supply their requirements for a new facility in Gujarat. The company has maintained stable gross margins, expanding by 60 basis points for the nine months of FY25, despite challenging market conditions. Proactive engagement with both existing and new customers has started to yield positive results, with customers viewing Punjab Chemicals as a reliable partner. The company has introduced new products in the domestic market, contributing to 15% of revenues, which are expected to deliver higher margins in the future. Capacity utilization across all three sites showed a positive trend, with the agrochemical division at 72%, performance chemicals at 52%, and industrial chemicals operating at full capacity. Revenue for the quarter and nine months showed a year-on-year decline of 5.3%, primarily due to subdued export demand and pricing pressures. EBITDA was impacted by elevated freight costs, operational costs, and one-time forex-related expenses, resulting in a 25.6% year-on-year decline. Profit after tax for the quarter decreased by 45%, with PAT margin standing at 2.8% for Q3 FY25. The LRU facility experienced a maintenance shutdown and product delays, leading to a decline in overall volume and capacity utilization. The company faced heightened competition and pricing pressure in certain regions, affecting its market position and profitability. Q: Can you elaborate on the contribution of new molecules to the domestic market and their impact on overall revenue? A: The new molecules introduced in the domestic market are intermediates and specialty chemicals, contributing about 15% to our revenues. These products are a permanent addition to our portfolio and are expected to continue contributing even when the export market recovers. (Vinod Gupta, CEO) Q: Why was there a decline in volume and limited contribution from the Lalru facility during Q3? A: The decline was due to a product mix change and a one-off product delay, which was expected in Q3 but postponed to the end of Q4. Additionally, there was a maintenance shutdown at the Lalru facility for about three weeks. (Shalil Shroff, Managing Director) Q: What is the outlook for the export market and pricing stability? A: The decline in prices has stabilized, and we expect demand to resume to normal levels in the next financial year as inventories are exhausted. However, demand flow will be on a quarter-to-quarter basis due to cautious inventory rebuilding by customers. (Vinod Gupta, CEO) Q: How are you planning to manage capacity and potential demand increases? A: We are reviewing deferred investment decisions and exploring process improvements and outsourcing options to meet demand. We are confident in our ability to cater to demand with existing infrastructure and some subcontracting. (Vinod Gupta, CEO) Q: Can you provide details on the one-off expenses and their impact on financials? A: The one-off expenses include forex losses of approximately INR 2.3 to 2.4 crore and repair and maintenance costs of around INR 10 crore. These expenses are part of asset renewal and upgradation efforts. (Vinod Gupta, CEO) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
