New Delhi sources have stated that after launching GST Prime Minister Narendra Modi on Saturday vowed to continue the crackdown on black money and announced that the government cancelled registration of one lakh firms over the last 48 hours and was probing 37,000 shell companies under suspicions of funneling black money.
Modi added that three lakh other companies were under the scanner for suspicious transactions. Meanwhile PM Modi patted his back for delivering on his promise to clean up the economy and cited recent statistics about the sharp decline in deposits by Indians in Swiss banks which is a proof.
Moreover PM Modi asked his audience to take a pledge to bring people in
the tax bracket rather than boasting about the number of clients they saved
from paying taxes. The prime minister told the CAs that the Constitution
and society placed a lot of trust in them as "Your signature is more
powerful than that of the Prime Minister and the government also believes the
accounts signed by you".
