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The tax officials are investigating a section of automobile dealers who have allegedly issued fake invoices without offering any service which is an unlawful action under goods and services tax (GST law). The authorities are going to ask the car dealers to prove that general insurance companies have received their services. According to a business […]
In the concern of issuing the fake invoices of Rs 2100 cr and availing for ITC of Rs 185 cr. The Maharashtra Department of Goods and Services Tax has captured the person who is running a business in Mumbai. He frames a bogus picture by mentioning that he is running 30 companies to provide the […]
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 […]
The clarifications seek the applicability of the demand and the penalty provisions on the transactions invoicing the bogus invoices. The GST officials in their next week’s meeting seem to acknowledge a proposal to draw clarity on the actions with respect to the entities engaged in Input Tax Credit claims that becomes a bigger source of […]
To stop the bogus invoice activities beneath the GST the finance ministry is recognizing additional measures. Tax officials had found nearly 60 fake companies just in the national capital region that is engaged in providing bogus invoices over Rs 800 cr. Under section 132 of CGST act 2017, the issuance of the invoice or bill […]
All over the country, the Directorate General of Goods and Services Tax Intelligence (DGGSTI) in the previous month has arrested 100 persons and recorded 3479 entities inside 1161 cases in the concern of illegally claiming the input tax credit(ITC) through the bogus GST invoices and causes the government tragedy. Despite lower revenue collection. Latest Update […]
At a time when reports of Central Government eyeing RBI Reserves to breathe fresh air to credit-starved micro, small and medium enterprises (MSMEs), Indian taxpayers are riding a tax evasion wave unlike any seen in recent times.
Karnataka Commercial Taxes Commissioner M.S.Srikar said that the dealers in Bengaluru have reclaimed their input tax credit of approx. Rs 17.45 crore, after realizing that the claim made by them was based on false GST invoice.
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 […]
