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Statistics reveal the increasing credit card frauds in the past two years. The credit card frauds have taken a toll in the Mumbai city and have risen by a massive 42 per cent. So, it is to make you aware of the increased chances of credit card fraud if you are the owner of one! […]
The number of petitions being filed against the various clauses of the earlier launched goods and services tax (GST) system in the different courts is only increasing with each day.
A senior official said that the tax evasion worth Rs 29,088 crores in 1,835 cases during April-October period in the present fiscal year has been detected by the investigation arm of the finance ministry.
A Senior official stated that the tax department has been working to implement GST informant reward scheme to reduce the cases of tax evasion by unethical traders and businesses under the new indirect tax regime.
Among the many changes and improvements the GST system brought to the Indian economy, a major increase has been reported in the direct tax revenues and corporate tax collection in the post-GST era.
In a bid to secure the consumer interest as well as their hard earned money, B Raghu Kiran joint commissioner GST Hyderabad introduced a much-anticipated app called ‘GST Verify’.
The provisions of ITC or Input Tax Credit under GST is at the centre of a major scam. Some businesses were prospering buy issuing fake GST bills or invoices. In the process, the businesses ended up gobbling a whopping amount of Rs 450 crore as part of the liable ITC.
The GST department has launched an investigation to determine the reasonability of the 100% refunds claimed by banks on GST paid on vendor services for ATMs.
Arvind Subramanian, the Chief Economic Advisor to the Government of India, had a few months back asserted that Insights From GSTN Data Could Drive Economic Decisions.
