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In order to curb the sudden rise in fake ITC cases, The Punjab and Haryana High Court has rejected the petition for the grant of bail of the petitioner. “The petitioner Mohit Bathla had prayed for granting regular bail for offence as per Section 132(1)(b) and 132(1)(c) that is punishable as per Clause L(i) of […]
The government exchequer collected from Goods and Services Tax (GST) has been on the peak/pinnacle since its journey started in July 2017 across the entire nation. The revenue collection from GST was a whopping Rs 1.24 trillion in a single month of March 2021 — a historical and a mammoth figure in the history of […]
The parliamentary panel has recommended to the finance ministry that the government needs to make breakthrough /structural changes in the mechanism of goods and services tax (GST) and should step up the compliance procedure to boost revenues and fill up the gap in states GST revenue receipts. Due to the CORONA pandemic, several states have […]
As per the direction of GST authorities now field units have to identify prime taxpayers, find the defaulters and promote them to give more tax. They have been directed to connect the top 200 defaulters (return) for the month of February concerned to central jurisdiction and ask them to file tax returns. The directive was […]
The paucity of employees in the Central Goods and Service Tax Department is affecting the government exchequer along with the effectiveness and efficiency of the aforesaid department. Consequently, The All India Federation of Customs, Central Excise, and GST Employees Welfare Association has addressed a letter to Union finance minister Nirmala Sitaraman to fill up over […]
Through the highest number of bogus scams and those who are involved in the illegal claiming of ITC Gujarat reports the fourth-highest number of goods and services tax concerned frauds. As per the information tabled in the parliament through the central ministry of finance, the state has reported 2848 cases of GST concerning frauds from […]
Through the present FY, a series of tax notices and summons has been sent to the assessee from the indirect tax council in Mumbai and some other tax zones in the country. The problems via letters and summons have related to the cases in which the assessee has chosen for the solution beneath the Sabka […]
CBIC said to the field officer to do prudence as well as maximum caution in attaching the assessee’s property and directed that these are the precautions that are to be acknowledged for GST evasion. Bogus invoicing and lateness of more than 3 months in depositing the tax received. Through some regulations, the CBIC had come […]
There is an expectation of Rs 1 lakh cr GST collection for the straight 5th month in Feb converting it to the highest sustaining collection ever where its indirect tax regime was launched in July 2017 which shows the reliable economic return. The early prompts like the GST e-way bills generated Get to know about […]
