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Recently the Telangana High Court didn’t consider the writ petitions of the companies which were facing arrest charges from the GST Commissionerate officials for unethical activities in their return filing.
New trouble has emerged for Patanjali Group companies led by Baba Ramdev. Directorate General for GST Intelligence (DGGI) is comprehended to have issued two show-cause notices to Patanjali Group companies Patanjali Ayurved and Patanjali Foods. As per the sources, DGGI (Directorate General for GST Intelligence) has sent 2 SCN before Patanjali group companies Patanjali Ayurved […]
In the GST recovery rate matters related to the ITC fraud have increased in FY24 with the Directorate General of GST Intelligence (DGGI) recovering exceeding 12% of the dues against 2% to 3% in the previous years, government sources familiar with the development. A GST Compliance Expert Said that the Commoners are Getting Trapped by […]
The bogus claims for the tax credits called ITC fraud challenge India’s GST heads. It arrives even as the department takes on distinct Goods and Services Tax frauds, including bogus registrations and tax evasion. Authorities till now in the ongoing FY (2023-24), have noticed nearly ₹19,690 crore in bogus ITC claims across 1,999 cases – […]
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 […]
In the case of Fairdeal Metals Limited Vs Asst. Commissioner Of Revenue, State Tax WPA/170/2024; Calcutta High Court has expressed that the buyer, who is in no way associated with any of the allegations that have been incurred against the seller, could not be made responsible to pay a penalty for incorrect doings of seller. […]
Last year, the GST intelligence unit exposed tax evasion amounting to over Rs 1.98 lakh crore and apprehended 140 individuals identified as masterminds engaged in defrauding the exchequer, as stated by the Ministry of Finance on Thursday. The Directorate General of GST Intelligence (DGGI) unearthed significant instances of GST evasion across various sectors in 2023, […]
The government is contemplating a heightened use of technology-driven advanced risk profiling to prevent input tax credit (ITC) fraud. They aim to halt suspected claims until undergoing thorough scrutiny. This move comes as Goods and Services Tax (GST) evasion, totalling over ₹4 lakh crore, has been unearthed in merely four years, with less than 30% […]
Over the last four and a half years, Gujarat has seen a staggering 515% surge in Goods and Services Tax (GST) evasion. This sharp rise may be attributed to subpar compliance or a heightened detection of counterfeit billing schemes. Parliament was presented with data from the Union finance ministry indicating Gujarat’s reported evasion of Rs […]
