Thugs of GST: INR 150 Crore GST Evaded By 142 Fake Companies
The Special Task Force (STF) of the Commercial Taxes Department has identified GST loot amounting to Rs 1.5 billion (150 crores).
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The Special Task Force (STF) of the Commercial Taxes Department has identified GST loot amounting to Rs 1.5 billion (150 crores).
In a move that promises landscape changes to India’s logistics landscape, the revenue department plans to integrate e-way bill with DMICDC’s Logistics Data Bank (LDB) services and NHAI’s FASTag mechanism.
The debate over the effectiveness of Demonetisation has remained a see-saw affair amidst changing goal posts. Today the currency circulation is at par with pre-demonetisation levels but the reasonability behind the November 04 decision deserves a closer unbiased look.
National Anti-Profiteering Authority and Hindustan Unilever Ltd. are at loggerheads again over the latter’s move of passing GST benefits by offering customers more grammage for the same price as a commensurate to price reductions.
The Goods and Service Tax is more than a year old now and in this short period of time, it has triggered landscape changes in many hitherto docile segments. One among these is the Indian warehousing segment.
From October 1, under GST law, E-commerce aggregators like Amazon, Flipkart and others need to deduct 1% tax for each of their transactions.
A common grievance heard across all GST related seminars in the country has been related to GST Audits. In Fact, the complexities in GST audits have been hard to get the head around not just for common taxpayers but CA’s too.
The reason being for why the calamity tax is being discussed in the GST meetings has an evident while seeing recent times.
The National Anti-profiteering Authority (NAA) was touted as the watchdog for passing benefits from GST rate reduction or ITC to end consumers.