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For All India Special Drive, Rajasthan Commercial Taxes issues clarification against the fake GST registration. However, the genuine assessee would not be needed to worry. The government would be needed to suffer a loss in revenue and the honest assessees would be required to suffer from the issues because of the fake practice of ITC. […]
The Goods and services tax authorities would be asking for near real-time access to the banking transactions of the assessees that render to fetch the bogus invoices and more use of the ITC through the businesses sections. The same procedure complies with the recent investigations that show that the undue tax credits collected via the […]
On the GST portal bank account validation is directed to the process where the GST portal verifies the bank account information which is furnished via the taxpayer in the course of registration or updates. For facilitated tax compliance and crediting refunds it is needed to have accurate bank account details. The GST portal bank account […]
Data analytics is being used by the GST officers to make sure the whole supply chain in a specific sector is paying sufficient GST or if there is a missing link, said an official. The Directorate General of GST Intelligence (DGGI) has taken a stance and made efforts to find out about tax evasion at […]
For surging the revenue generated via GST, an anti-evasion function is been initiated by the Delhi government’s tax mainstay, via surveys, inspection, and search and seizure. According to a Delhi government official, special teams have been deployed on state borders to check illegal vehicle entrances and confiscate them if they are found to be in […]
A prominent private bank, 29 insurance businesses, five non-banking financial organizations (NBFCs), and more than 100 suppliers would get show-cause notices from the GST authorities. These organizations were involved in funding bogus services so that the insurers could pay a bank fee that exceeded the legal limit. A renowned private bank received a commission from […]
In a recent instance in which a car was seized on suspicion of fraudulent business operations and false ITC claims, the Orissa High Court ordered its release following payment of a penalty under Section 129(1) (b) of the GST Act, 2017. The directions would have been obtained by Sunil Mishra who is the Additional Standing […]
A Single Bench of the Allahabad High Court has cancelled and set aside the cancellation of GST registration executed on the basis of the firm being alleged to be fake. The applicant’s opinion of the council is that he has the registered proprietorship firm along with executing the business as per the statutory. The applicant […]
The allegations of claiming the bogus credit could not be the basis for refusing the applications for the refund held by the Delhi High court until the same would be accomplished that the applicant does not obtain the goods or paid for them. The applicant is qualified for the GST ITC refund on the goods […]
