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‘GST revenue at an all-time low’

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first_imgThe revenue from the Goods and Services Tax has slipped by over ₹2,500 crore — to a 19-month low in September — and is showing no signs of recovery due to a massive tax fraud and overall “flaws in the system”, indicated West Bengal Finance and Industry Minister Amit Mitra in a letter to Union Finance Minister Nirmala Sitharaman. Mr. Mitra wrote the letter on Monday.The GST revenue slipped from ₹94,442 crore in September 2018 to ₹91,916 crore in September, 2019 — a drop of ₹2,526 crore. Highlighting the drop, Mr. Mitra argued that this “probably is the first time that monthly collections have been at an all-time low”. This collection, Mr. Mitra noted, is “even lower than the collection for July 2017, which was ₹92,283 crore”.“Though it has picked up slightly in October with ₹95,380 crore, it is still 5.29% below the collection of October 2018 which was ₹1,00,710 crore,” Mr. Mitra said. He underscored that despite his repeated warnings about “GST fraud and the flaws in the system… no discussion was held on this issue in the last GST Council meeting”. In his two-page letter, Mr. Mitra pointed at the problem of fake input tax credit that manufacturers and in turn dealers are entitled to for paying input taxes. He indicated that a network of fake ITC was snowballing in the country and yet “we continue to work in silos”.“A few days ago, Odisha SGST authorities detected a fraud worth ₹138 crore”, while in September searches carried out “in 336 locations across 15 States detected fake ITC worth ₹740 crore”. One person in Mumbai with credit of ₹93 crore and another person in a case worth ₹127 crore were arrested since September, Mr. Mitra noted. “Each and every State and the Central GST authorities are continually detecting fake invoices and absentee registered tax payers,” he wrote.No task force Since fake ITC means a loss of tax as it is “not backed by transaction in goods or services in reality”, such leakages are contributing to the “falling revenue trend,” Mr. Mitra noted. He regretted that “no task force [was] set up” to deal with the fraud as suggested by him earlier.last_img read more

McGregor has boxing skill, but enough to beat Mayweather?

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first_imgLIST: Class, gov’t work suspensions during 30th SEA Games Jones facing discipline, questions after failed drug test WATCH: Streetboys show off slick dance moves in Vhong Navarro’s wedding SEA Games in Calabarzon safe, secure – Solcom chief McGregor’s ability to pull off perhaps the most improbable upset in sports history likely rests on his chances to land not just one punch, but repeated combinations of blows on Mayweather, who has shown a decent chin on the few occasions he has been hit in the past decade.If McGregor can’t consistently hit Mayweather — and nobody has consistently connected against Money May in over a decade — he can at least avoid embarrassment by not getting knocked out — and there is no doubt McGregor can take a punch. His sparring partners have spoken of his tough chin, and it was evident last year in his two UFC brawls with Nate Diaz. Their second bout in August 2016 devolved into a brutal standup fight that left both men bloodied and bruised.McGregor’s disregard for defense in that bout — or his inability to defend himself from repeated head blows — could be decisive when facing Mayweather, who might be the most precise puncher in the sport. McGregor claims he has worked on defense during his training camp, but his predictions for the fight invariably return to his belief in his own power.No matter what happens to McGregor at T-Mobile Arena, he will rely on the skills he first learned at the Crumlin Boxing Club, where his mother Mags still works out. The club will be full of his fans when it screens the fight at about 5 a.m. Sunday morning.“You will see the culmination of everything I’ve learned and studied,” McGregor said. “A great many people helped to get me to what you will see this weekend.” “No fighter can train for what I bring into the ring or into the octagon,” McGregor said. “I am too skilled. I am too diverse. My movement is too much for them. All of these men will fall.”But for McGregor to make Mayweather fall, he’ll either need to land an astonishing home-run punch, or he’ll have to show more creativity and sustained boxing skill than MMA usually demands.While McGregor’s versatility and smarts have made him the UFC’s biggest star, he can use only one discipline against Mayweather — and no serious people outside McGregor’s camp doubt Mayweather has more boxing skill. Still, McGregor has devoted himself to boxing in recent weeks, bringing in former champ Paulie Malignaggi among his many sparring partners and recruiting Joe Cortez, the veteran boxing referee, to instruct him on the finer points of etiquette.“Fighting in Vegas, I just don’t see how Conor outpoints him (for a decision),” UFC President Dana White said. “Conor is going to get in there to rough him up and try to knock him out.”White and McGregor’s other fervent backers believe in his one-punch knockout power, which he showed most memorably in dethroning longtime UFC champion Jose Aldo. But one-punch knockouts are rare in 8-ounce boxing gloves, which diffuse the impact of a blow more than tiny UFC gloves.ADVERTISEMENT View comments LATEST STORIES Conor McGregor speaks during news conference Wednesday, Aug. 23, 2017, in Las Vegas. McGregor is scheduled to fight Floyd Mayweather Jr. in a boxing match Saturday in Las Vegas. (AP Photo/John Locher)LAS VEGAS, Nevada—Before Conor McGregor had even heard of mixed martial arts, he wanted to be a boxer. He first stepped into Crumlin Boxing Club nearly 20 years ago in muddy football boots and started punching a heavy bag.McGregor returned constantly for the next seven years, determined to become tough enough to dissuade bullies in his Dublin neighborhood. He competed in amateur boxing matches against opponents of all sizes and shapes over the years, developing tenacity and power.ADVERTISEMENT MOST READ UPLB exempted from SEA Games class suspension Brace for potentially devastating typhoon approaching PH – NDRRMC Manny Pacquiao on Floyd Mayweather: Let him enjoy retirement PLAY LIST 00:44Manny Pacquiao on Floyd Mayweather: Let him enjoy retirement00:45Onyok Velasco see bright future for PH boxing in Olympics05:25PH boxing team determined to deliver gold medals for PH01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Read Next LOOK: Venues for 2019 SEA Games SEA Games: PH’s Alisson Perticheto tops ice skating short program Catriona Gray spends Thanksgiving by preparing meals for people with illnesses “There were no weight rules, no limitations on who you could fight,” McGregor recalled Wednesday. “We would just have an opponent assigned to us. That was always the joke: Everybody at the Crumlin Boxing Club had to fight heavyweights, no matter what size you are. But it was a good lesson. You must be prepared for any eventuality. You must be ready to fight. That’s how I was brought into this game.”McGregor is on top of the fight game this week before his Saturday showdown with Floyd Mayweather (49-0), the most accomplished boxer of his generation. McGregor, a former plumber who has never had a professional boxing match, will make roughly $100 million for stepping into the ring for the first time in the spectacle of the summer.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutAnd though McGregor moved into MMA training in his teens and eventually rose to win two UFC belts, he is no boxing neophyte. While he has other strengths, McGregor’s MMA career has been built in large part on his boxing-bred punching power, which is considered exceptional by his sport’s standards.Oh, and he also doesn’t lack confidence, which is no small thing when facing odds as daunting as McGregor’s chances against Mayweather. Don’t miss out on the latest news and information. last_img read more

Miss and die

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first_imgPanelo: Duterte ‘angry’ with SEA Games hosting hassles With their backs to the wall, Austria believes a shift in approach could shift the odds in their favor in the 4:30 p.m. contest.“We have to play better defense,” he said following 93-88 loss to TNT on Monday night. “[In Game 1] we only allowed them 78 points, tonight it’s 93—that’s 15 points more.”FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption chargesSPORTSSingapore latest to raise issue on SEA Games food, logistics“The name of the game is how you can play good defense. We may be No. 1 in offense when it comes to percentages, but we have to play defense, too, for us to win,” he added.Bong Ravena, Austria’s counterpart at TNT, refuses to celebrate anything despite having some sort of momentum coming into the game. “[There’s] nothing to celebrate,” he said. “We just tied the series.”“I just hope that our intensity, our energy will be the same—or even better,” Ravena said.Meanwhile, if there’s one team in this sudden death day that definitely has momentum going, it’s Magnolia.Hotshots will be shooting for a repeat of an authoritative 106-77 victory over Barangay Ginebra also on Monday night when they go up against crowd darling Gin Kings in the 7 p.m. game.“We just need to prepare really well,” Magnolia mentor Chito Victolero said. “With the same effort and same desire, I think we have a chance.”ADVERTISEMENT DA eyes importing ‘galunggong’ anew Hontiveros presses for security audit of national power grid MOST READ LATEST STORIES View comments Cayetano: Senate, Drilon to be blamed for SEA Games mess Private companies step in to help SEA Games hostingcenter_img TNT shoots for their first semifinal appearance since 2016, while Magnolia hopes for another deep campaign after falling short last year.The Gin Kings, for their part, hope to come into this game successful in shaking the cobwebs of that murderous rout two nights ago.But no stake is larger for the Beermen, who are looking to extend their already-historic four-straight Philippine Cup titles.“Hopefully we could adjust to the kind of defense they’re applying on us,” Austria said. “We have to devise some plays to avoid that kind of pressure defense.”Sports Related Videospowered by AdSparcRead Next Alas, Fuel Masters to go all the way Philippine Arena Interchange inaugurated It’s down to one last game—a do-or-die,” said San Miguel Beer coach Leo Austria.He couldn’t have put it any better his Beermen, seeking to win the PBA Philippine Cup an unprecedented fifth straight season, take on TNT for the right to play on at Smart Araneta Coliseum in Cubao.ADVERTISEMENT Sports venues to be ready in time for SEA Games PLAY LIST 00:59Sports venues to be ready in time for SEA Games01:33Leo Austria, SMB wary of ‘more experienced’ Hotshots ahead of PBA Finals rematch01:27Filipino athletes get grand send-off ahead of SEA Games02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss Duterte wants probe of SEA Games mess SEA Games hosting troubles anger Duterte Don’t miss out on the latest news and information. last_img read more