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The state goods and services tax agency in significant revisions has witnessed an average 43% decrease in GSTIN applications submitted monthly since Nov 2023, when the new sort of authentication was added to the process of online registration. The average number of GSTIN (Goods and Services Tax Identification Number) applications received per month from November […]
The bogus claims for the tax credits called ITC fraud challenge India’s GST heads. It arrives even as the department takes on distinct Goods and Services Tax frauds, including bogus registrations and tax evasion. Authorities till now in the ongoing FY (2023-24), have noticed nearly ₹19,690 crore in bogus ITC claims across 1,999 cases – […]
Certain individuals with bogus intent are forming and sending bogus summons to taxpayers who may or may not be under investigation by the DGGI, The Directorate General of GST Intelligence (DGGI), Central Board of Indirect Taxes and Customs (CBIC) notices. Bogus summons that are sent look real as they secure the Document Identification Number (DIN), […]
Revenue Secretary Sanjay Malhotra in a press conference said that the government’s objective is to remove the flexibility furnished to the buyers and sellers in amending their output obligation. The same action consists of locking the invoices and eliminating the edit option in the forthcoming fiscal year, a proposal that shall be reflected in the […]
According to a top government official, the income tax department has initiated an investigation into the claim that insurance businesses fraudulently claimed GST input tax credits. According to a senior government official, the department is attempting to prove that if these expenses are not legitimate, they must have avoided the income tax assessment. According to […]
GST council in its forthcoming meeting dated 11th July would seem to address and authorize the revisions in the mechanism to fetch the bogus ITC claims. The revisions would have the listing of the risk profiling parameters of the entities comply with the physical verification. The GST Council will need to approve any modifications to […]
The drive conducted by the Central and State tax administrations where they reached out to enterprises door-to-door to detect fake and suspicious Goods and Service Tax Identification Numbers (GSTINs) registrations is turning out to be quite successful. The Excise and Taxation Department has detected an ample number of fake GST returns filed by local dealers. […]
All Central and State tax authorities in India have launched a special drive campaign for GST registrations from May 16 to July 15, 2023, to catch suspicious or fake businesses, verify them, and then take additional corrective action to remove them from the GST eco-system and protect government revenue. GST officers may visit your company’s […]
The Delhi High Court has commanded a petitioner to reveal the identity of a friend who got a fake GSTIN using his name. The order of revealing the details of his friend has been written by the division bench of Justice Vibhu Bakhru and Justice Amit Mahajan. The petitioner is required to bring the identity […]
