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Efforts made by the Delhi government to prevent the entry of fraudulent companies into the GST network are yielding positive results. The Department of Trade and Taxes has established a centralised GST registration cell to get new applications and process them. This initiative has effectively prevented the GST registration of fake trading companies, thereby removing […]
To tighten GST compliance, tax authorities would have planned to bridge the gaps, they would have fetched nearly 15,000 entities and would have fetched the evasion of exceeding Rs 38,000 cr in past years. The same comprises the bogus GST registration cases through misusing PAN and Aadhaar information of other people for ITC claiming along […]
The state and central GST cells of the tax department would have initiated a drive for the physical verification of these units/establishments in the district in order to find out the bogus companies beneath the GST regime and nab offenders. In the district, there are 400 units that are under surveillance. For Effective Policymaking The […]
Approximately 4000 businesses from Ludhiana have been labelled as suspects by the online system which is a significant development in the GST department’s campaign to combat fictitious and suspicious registrations. This figure is expected to increase. On May 16, the campaign officially began and it will take some time to thoroughly study each case and […]
The guidelines for the special all-India drive against the bogus GST registrations would have been issued by the Central Board of Indirect Taxes and Customs (CBIC). The department has released all details via Instruction No. 01/2023-GST and updated Instruction No. 02/2024-GST. What is a Special All-India Drive Against Fake GST Registrations? The Central Board of […]
The tax officials are investigating a section of automobile dealers who have allegedly issued fake invoices without offering any service which is an unlawful action under goods and services tax (GST law). The authorities are going to ask the car dealers to prove that general insurance companies have received their services. According to a business […]
According to officials, a gang of merchants who would set up fictitious companies to provide a legal cover for their unlawful trade in timber and related products and escape Goods and Services Tax (GST) amounting to crores of rupees have been caught by Uttarakhand tax authorities using digital tracking and electronic surveillance. According to them, […]
An effective ruling which is notified on Monday ruled that the Delhi High Court has revoked a re-assessment notice under section 148A/148A(d) of the Income Tax Act, 1961 issued on the basis of reconciliation between the income tax returns and GST returns data. The applicant (taxpayer), M/s Best Buildwell Private Limited before the high court […]
To restrict the fake ITC claim and tax evasion, the CBIC would reveal nearly 40,000 GST returns for 2018-19 relying on the risk parameters for the scrutiny. The same shall be the 2nd batch of GST returns that will be liable for investigation post to CBIC has shown 35000 GST Identification Number (GSTINs) (allocated to […]
