28 Aug 2023 06:07 PM
New

CGST Navi Mumbai Cracks Down on Rs 5 Crore ITC Fraud

Source: https://taxguru.in/goods-and-service-tax/cgst-navi-mumbai-cracks-rs-5-crore-itc-fraud.html

On August 25, 2023, CGST Navi Mumbai undertook a significant operation leading to the arrest of the proprietor and key personnel from six firms. They are charged with availing, utilizing, and passing on fabricated Input Tax Credit (ITC), all orchestrated through counterfeit invoices.

28 Aug 2023 06:03 PM
New

Illegal ITC Availment Arrest: CGST Navi Mumbai Cracks Down

Source: https://taxguru.in/goods-and-service-tax/illegal-itc-availment-arrest-cgst-navi-mumbai-cracks-down.html

Introduction: In a significant move against tax evasion, CGST Navi Mumbai apprehended a proprietor/key person involved in illicitly availing and utilizing counterfeit Input Tax Credit (ITC) amounting to Rs. 5.01 Crores. The fraudulent scheme revolved around bogus invoices worth Rs. 30 Crores, leading to a substantial loss in tax revenue. This article delves into the arrest, the investigation, legal implications, and the broader context of such anti-evasion efforts.

28 Aug 2023 05:57 PM
New

Rahul Gandhi's chocolate-making endeavor at Ooty factory | Watch

Source: https://www.livemint.com/politics/rahul-gandhis-chocolate-making-endeavor-at-ooty-factory-watch-11693156409711.html

Congress MP Rahul Gandhi visited a chocolate-making factory in Ooty and spoke about GST

25 Aug 2023 05:59 PM

GSTN Issued Advisory for Mera Bill Mera Adhikaar Scheme

Source: https://taxguru.in/goods-and-service-tax/gstn-issued-advisory-mera-bill-mera-adhikaar-scheme.html

The Goods and Services Tax (GST) framework has seen continuous refinements since its inception, aimed at simplifying processes for taxpayers and ensuring a transparent system. The latest addition is the “Mera Bill Mera Adhikaar” scheme, an initiative to empower consumers and make the billing process more transparent.

25 Aug 2023 05:43 PM

Pros & Cons of GST Billing Software

Source: https://www.livemint.com/brand-stories/pros-cons-of-gst-billing-software-11688565955993.html

GST billing software has become a cornerstone in the financial landscape, transforming how businesses manage invoicing, taxation, and compliance processes. As with any technology, there are both advantages and disadvantages associated with using GST billing software. This article comprehensively explores the pros and cons to understand its impact on businesses.

25 Aug 2023 05:47 PM

Zee mired in legal disputes in run-up to merger with Sony

Source: https://www.livemint.com/companies/zee-mired-in-legal-disputes-in-run-up-to-merger-with-sony-11692901441552.html

MUMBAI : Even as Zee Entertainment Enterprises Ltd (ZEEL) founder Subhash Chandra and his son Punit Goenka await clean chit from the market regulator over financial irregularities in the media house, the company itself is entangled in a series of legal disputes, including tax claims, regulatory filings showed.

25 Aug 2023 05:56 PM

Government Launches ‘Mera Bill Mera Adhikaar’ Invoice Incentive Scheme

Source: https://taxguru.in/goods-and-service-tax/mera-bill-mera-adhikaar-invoice-incentive-scheme.html

Introduction: The Government of India, in collaboration with State Governments, is introducing the ‘Mera Bill Mera Adhikaar’ Invoice Incentive Scheme from September 1st, 2023. This initiative aims to cultivate a culture where customers proactively demand invoices for all purchases they make.

25 Aug 2023 05:53 PM

Amnesty Schemes 2023: Revive Your Registration and Clear Late Fees

Source: https://taxguru.in/goods-and-service-tax/amnesty-schemes-2023-revive-your-registration-and-clear-late-fees.html

Introduction: The year 2023 brings a ray of hope for taxpayers with the extension of multiple tax amnesty schemes. These schemes offer a chance to rectify past non-compliance and clear late fees. Let’s delve into the details of these schemes and the benefits they bring.

24 Aug 2023 05:43 PM

Monitoring IGST ITC Reversal: GSTR 3B SOP Guide

Source: https://taxguru.in/goods-and-service-tax/igst-itc-reversal-gstr-3b-sop-guide.html

Introduction to the Standard Operating Procedure (SOP) on Monitoring Ineligible IGST Input Tax Credit Reversal by Taxpayers in Return Form GSTR 3B

24 Aug 2023 05:39 PM

The promise of our goods and services tax is unfulfilled

Source: https://www.livemint.com/opinion/online-views/the-promise-of-our-goods-and-services-tax-is-unfulfilled-11692808838331.html

The goods and services tax (GST) was a major reform that took years to implement. It is now six years old. The great promise of GST is tax collection buoyancy, thanks to inbuilt incentives of compliance, and less scope of leakage.