12 Mar 2022 05:55 PM
New

Fake ITC & bogus billing: CGST Bhiwandi Commissionerate arrests a businessman

Source: https://taxguru.in/goods-and-service-tax/fake-itc-bogus-billing-cgst-bhiwandi-commissionerate-arrests-businessman.html

CGST Bhiwandi Commissionerate arrests a businessman involved in passing of fake ITC and bogus billing A businessman involved in Fake Input Tax Credit racket has been arrested by the officers of Bhiwandi Commissionerate of CGST Mumbai Zone. Intelligence was developed by anti-evasion, Bhiwandi CGST of Mumbai CGST Zone, using different data analytics tools such as Advait, E-way Bill Portal etc.

12 Mar 2022 06:00 PM
New

GST fraud of Rs. 630 crs- CGST Ghaziabad arrested 1 person

Source: https://taxguru.in/goods-and-service-tax/gst-fraud-rs-630-crs-cgst-ghaziabad-arrested-1-person.html

CGST Ghaziabad arrested 1 person in follow up of an earlier case which involved GST fraud of Rs. 630 crs. in value and fake ITC of approx 100 crs. by creating 50 bogus firms, using multiple PAN, mobile numbers and bank accounts. 2 persons have been arrested in the case so far.

12 Mar 2022 06:08 PM
New

Threshold turnover of e-invoice under GST reduced

Source: https://taxguru.in/goods-and-service-tax/threshold-turnover-e-invoice-gst-reduced.html

With the recent amendment made vide Notification No. 01/2022 – Central Tax dated 24-02-2022,more taxpayers will come under the ambit of compulsory issuance of e-invoice, as the threshold limit of turnover is being reduced to 20 Crores w.e.f 1st April 2022.

12 Mar 2022 06:11 PM

7 Delhi firms found involved in GST evasion of Rs 85 crore

Source: https://taxguru.in/goods-and-service-tax/7-delhi-firms-involved-gst-evasion-rs-85-crore.html

Report this ad CGST Delhi officials bust a syndicate of 7 firms in GST evasion of more than Rs 85 crore Through extensive analysis of E-way bills, CGST Delhi East Commissionerate had busted a syndicate of five firms who were engaged in availing and utilising fake Input Tax Credit (ITC) of Goods and Services Tax (GST).

12 Mar 2022 06:18 PM

CGST Mumbai Unearths fake ITC amounting to Rs. 396.84

Source: https://taxguru.in/goods-and-service-tax/cgst-mumbai-unearths-fake-itc-amounting-rs-396-84.html

CGST Mumbai tightens belt, hints at prompt action and zero tolerance for GST evasion and ITC frauds Unearths fake ITC amounting to Rs.396.84 Cr, Recovers Rs. 28.65 Cr. in last 6 months

12 Mar 2022 06:22 PM

Maharashtra Amnesty Scheme, 2022 for GST Department

Source: https://taxguru.in/goods-and-service-tax/maharashtra-amnesty-scheme-2022-gst-department.html

THE MAHARASHTRA STATE GOVERNMENT BUDGET SPEECH PART II DATED 11TH MARCH, 2022 BY HONOURABLE DEPUTY CHIEF MINISTER (FINANCE) SHRI AJIT PAWAR

11 Mar 2022 06:14 PM

GST Council Newsletter for the month of February, 2022

Source: https://taxguru.in/goods-and-service-tax/gst-council-newsletter-month-february-2022.html

The gross GST revenue collected in the month of February, 2022 is Rs. 1,33,026 crore of which CGST is Rs. 24,435 crore, SGST is Rs. 30,779 crore, IGST is Rs. 67,471crore (including Rs. 33,837 crore collected on import of goods) and cess is Rs. 10,340 crore (including Rs. 638 crore collected on import of goods).

10 Mar 2022 06:25 PM

GST authorities expand probe into alleged tax evasion by BharatPe

Source: https://www.livemint.com/companies/news/gst-authorities-expand-probe-into-alleged-tax-evasion-by-bharatpe-11646824513059.html

The GST authorities are now looking into BharatPe books of the last four years to see whether fake invoices were issued for services as well.

07 Mar 2022 04:55 PM

GST Council may consider proposal to raise lowest slab to 8 pc, rationalise tax slabs

Source: https://economictimes.indiatimes.com/small-biz/gst/gst-council-may-consider-proposal-to-raise-lowest-slab-to-8-pc-rationalise-tax-slabs/articleshow/90043248.cms

The GST Council in its next meeting may look at raising the lowest tax slab to 8 per cent, from 5 per cent, and prune the exemption list in the Goods and Services Tax regime as it looks to increase revenues and do away with states' dependence on Centre for compensation, sources said on Sunday.

07 Mar 2022 05:42 PM

Exporter arrested for GST fraud

Source: https://taxguru.in/goods-and-service-tax/exporter-arrested-gst-fraud.html

The officers of Anti Evasion wing of Thane CGST Commissionerate of Mumbai zone have arrested an exporter who is Director of a Private Limited Company, for fraudulently claiming GST Input Tax Credit (ITC) of Rs. 15.26 Crore. This ITC was claimed on the basis of bogus invoices of Rs. 85 Crore issued by the fake entities.