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The Madras High Court remanded the IGST refund case for reconsideration as the refund was not processed because of the alert raised by the Director General of Data Analytics & Risk Management ( DGRAM ). As per the impugned GST order, the court remarked that the IGST refund claim was that the dealer had not […]
The finance ministry reported the GST collection of May stood at Rs 1.73 lakh crore. It was less compared to Rs 2.10 lakh crore in April but is more than Rs 1.57 lakh crore in May, of the previous year. The May collection has corresponded with the consumption of goods and services claimed in April. […]
Certain relief to the fertilizer companies is on the cards as the GST council seems to suggest the issuance of the circular for releasing the refunds due to the inverted duty structure and subsidy. After the general elections, the council is anticipated to meet. Inverted Duty Structure (IDS) is directed to a higher duty on […]
The Delhi High Court asked the appropriate officer to expedite the refund process for a petitioner who asked the Court to direct the refund of a sum of Rs.81,79,52 u/s 54 of the Central Goods and Services Act,2017. The applicant, AJ Flight Reservations Pvt. Ltd., represented by Advocate Vineet Bhatia, had filed a refund claim […]
The Central Crime Station (CCS) of the Hyderabad police in an influential crackdown on bogus tax practices, has charged 5 Goods and Services Tax (GST) officials, including a deputy commissioner, for their involvement in a scheme to deceitfully claim GST refunds. CCS police show that such individuals collaborated with others to build the bogus electric […]
Common norms are drawn by the Central Board of Indirect Taxes and Customs (CBIC) towards central and state level Goods and Services Tax (GST) officials to audit banks, CBIC chairperson Sanjay Kumar Agarwal stated field officers. The same action provides better assurance about audit procedures to banks since officials would have a common audit plan […]
In March 2024 Goods and Service Tax collection rose 11.5 per cent on an annual basis to Rs 1.78 lakh crore, the second highest since the regime came into force in July 2017. In March the rise of GST collection can be attributed to the rise in GST collection from domestic transactions at 17.6 per […]
A network of 232 fake money-changing companies has been excavated by the Income Tax Department and detected tax evasion amounting to ₹1,000 crore via fraudulently generated Input Tax Credits under the Goods and Services Tax (GST) regime. Furnishing the information of the bogus process, the Chairman of the Central Board of Indirect Taxes and Customs […]
As per the experts the Gross Gross Goods and Services Tax (GST) revenue collected for February 2024 is Rs 1.68 lakh crore, standing a 12.5% rise compared to the identical month in 2023 which depicts the strength of the Indian economy and a powerful consumption level. “A robust 12.5 per cent growth in overall GST […]
