- 08 May 2025 06:35 PM
- New
Request for Action Against Misuse of Section 74 Powers by Delhi CGST Offices
A letter dated May 4, 2025, from Rakesh Garg, an author and advocate, to the Chairman of the Central Board of Indirect Taxes & Customs, raises concerns about the alleged misuse of powers under Section 74 of the CGST Act, 2017, by Delhi CGST offices. The letter contends that the Audit Departments of the Delhi CGST Commissionerate are frequently and arbitrarily invoking Section 74, which pertains to cases involving fraud or wilful misstatement, even in situations that would fall under Section 73 for reasons other than fraud. Evidence from RTI responses is presented, indicating that 100% of show cause notices issued by Delhi CGST Audit-I and Audit-II over the past three financial years were under Section 74, with similar trends noted for the Directorate General of GST Intelligence. The author argues that this blanket application of the ‘Charge of Fraud’ is mechanical, lacks proper inquiry or justification, and contradicts judicial pronouncements on invoking extended limitation periods. This practice, it is argued, leads to severe negative consequences for taxpayers, including adverse impacts on credit ratings, banking facilities, business goodwill, contracts, and causes emotional distress, potentially infringing on the right to carry on trade or profession. The letter requests the establishment of an independent oversight mechanism and directions to GST authorities to restrict the use of Section 74 (and the new Section 74A) to genuine fraud cases based on reasoned assessments.
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- 07 May 2025 05:36 PM
- New
Mint Primer | India’s economy looks strong. What could go wrong?
The rise in GST collections indicates that revival in domestic consumption, especially rural demand, is gathering pace.
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- 07 May 2025 05:45 PM
- New
Games24x7 lays off staff as Supreme Court hears 28% GST case
Mumbai: Games24x7 initiated layoffs over the past few days, coinciding with Supreme Court hearings on the 28% Goods and Services Tax (GST) on online gaming that began Monday.
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- 05 May 2025 06:45 PM
Indian stock market: Is it wise to start accumulating stocks despite an escalation in India-Pakistan conflict? EXPLAINED
Indian stock benchmarks Sensex and Nifty 50 ended higher on May 5, driven by positive global cues and expectations of a US-China trade deal. The Sensex closed with a gain of 295 points, or 0.37 per cent, at 80,796.84, while the Nifty 50 settled at 24,461.15, up 114 points, or 0.47 per cent.
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- 03 May 2025 06:30 PM
Mint Quick Edit | India’s GST peak is reassuring
At ₹2.37 trillion in April, the country’s goods and services tax (GST) revenue is not just the highest ever, it’s 13% higher than the previous peak achieved last April. What does this tell us about how the economy is doing?
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- 03 May 2025 06:51 PM
Athletics-US sprinter Kerley to miss Grand Slam Track meet after arrest for battery
(Reuters) -Twice Olympic 100 metres medallist Fred Kerley has been arrested for allegedly punching hurdler and ex-girlfriend Alaysha Johnson in the face, police said on Friday, and, as a result, he will not compete in the Grand Slam Track event in Miami this weekend.
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- 03 May 2025 06:49 PM
Arvind Shrivastava takes charge as revenue secretary
Shrivastava will play a key role in shaping proposals for GST Council meetings in coordination with state governments.
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- 01 May 2025 06:15 PM
GST collection rises 12.6% to highest-ever of ₹2.37 lakh crore in April 2025
India's GST revenue from domestic transactions rose 10.7 per cent to about ₹1.9 lakh crore, while revenue from imported goods was up 20.8 per cent to ₹46,913 crore.
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- 01 May 2025 06:17 PM
Here's how NRIs can save up to 18% GST on insurance premiums
Insurance attracts Goods and Services Tax (GST), which increases its price by up to 18%. However, non-resident Indians (NRIs) can save on GST in their insurance premiums.
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- 30 Apr 2025 06:30 PM
Carney’s election win in Canada can actually be called historic
Mark Carney’s Liberal Party victory in Canada’s federal elections may well be remembered as one of the biggest political turnarounds in electoral history. A year ago, Canada’s political landscape seemed to favour the Conservative Party, led by Pierre Poilievre. The seat tally in Canada’s House of Commons gives the Liberals a fourth consecutive term in power, as they’re within a whisker of the 172-seat majority mark, with the Conservatives lagging by two-dozen seats.
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