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“A proposal is under consideration to raise the threshold to Rs 5 crore for initiating criminal prosecution. The matter will be put up before GST Council soon” said the senior officials. GST evasion with Rs 2 to 5 cr shall draw three years in jail. If the tax evasion is up to Rs 2 crore […]
The Goods and Services Tax wing of the Central Board of Indirect Taxes and Customs (CBIC) performs investigations with respect to various insurance companies. There are different life and non-life insurers to whom the tax authorities have taken out the search operations. From the source, it has been revealed that the tax investigations were the […]
A show cause notice was issued to the assessee for running a bogus company and missing a bogus ITC of Rs 26.53 cr. on 1st June 2018, the related dept refused the same enrollment. The assessee gives his statements on the date of 7th June 2018 and 6th July 2018 to the Directorate of Revenue […]
GST 48th council meeting has finally been concluded, and the council has approved the report and decisions. The 48th GST council has discussed offences, e-commerce registration, and tribunal setup. The meeting was scheduled on 17th December 2022 via video conferencing with state ministers. 48th GST Council Meeting Updates GST offences can now be commenced at […]
Under the Goods and Services Tax Act, 2017 (GST Act), the finance ministry has circulated the complaints specifying the conditions for the investigation, summons, arrests, and bail procedures regarding breach of GST provision. Compliances, the approval for arrest beneath GST act furnishes for the cases in which there was a clear intention for tax theft […]
Taking the decision to stop the GST theft, the Kerala government will incorporate a mobile application in which people would enable to upload the original bills and could have the chance to win prizes. Through the help of the Lucky bill mobile app, the state government seeks to raise the collection of taxes since people […]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that leave and pension contributions to state government employees do not be treated as fake and granted relief to Vishakhapatnam Port Road Company Ltd. The petitioner, Vishakhapatnam Port Road Company Ltd., has the business of constructing, operating and maintaining the toll roads for enough connectivity to […]
A host of procedural amendments in the GST compliances is being reported by the government, along with the levy of interest for the bogus usage of input tax credit and the turnover limit for furnishing the yearly returns for 2021-22 fiscal. GST administration investigated the changes at its meeting in the former week. Through the […]
The GST official has decided to rectify various tax rates and withdraw the tax exemptions, excluding building a series of amendments to the enrollment and GST refund process to increase the collections of revenue. On the second and the final day of the 47th GST meeting, the officials would see into the demand from the […]
