Within 24 hours of GST implementation, Prime Minister Narendra Modi has made a big disclosure. He said that when everybody’s eyes were on GST, then one lakh companies in the last 48 hours were closed. He also said that more than 3 lakh companies are in the circle of doubt. Of these, 37,000 exhibition companies were also identified and strict action was being taken.
In the program of ‘The Institute of Chartered Accountants of India’ on Saturday, Modi also gave his government campaign figures against black money and indirectly targeted opposition parties. He said that how much damage can be done to the political party by scrapping the fraudulent company and screwing up the black money. They know it, but for the country, nobody will have to live.
Deposits in Swiss Bank
On black money deposited abroad, Modi said that according to the figures received by the Swiss bank, there has been a decline of 45 percent in the old deposits of Indians in the last year. In 2013, there was an increase of 42 percent in those accounts. Two years later, real time data will be obtained from the Swiss bank, then the black money depositors will get more trouble. He said that he is also running cleanliness campaign on one side and cleaning campaign of the economy on the other side.
Learned charted accountants
Narendra Modi told Chartered Accountants that they are going to correct the book, so their responsibility is high. If they save someone or give wrong advice then problems will increase. The Prime Minister expressed deep displeasure over the fact that action was taken against only 25 CAs in 11 years, whereas there are 1400 pending cases in the country. He said, “500 million people of the country trust you. You have to decide whether to tell the way to steal tax or to repay the tax? When the facts are hidden, the company does not sink, the poor also sinks. ‘
Only 32 million have reported 10 million annual earnings
The Prime Minister also targeted the people who hide the income. He said that 2.18 crore people went on a foreign trip last year, but there are 32 lakh people in the country who have said more than one million in their annual income. Modi further said, ‘What else is going on in addition to the salaried people, what should be the eye on this, it is also to see you. Continuous data monitoring of deposits in banks is being done. Over three lakh companies are in the dark of doubt. ‘