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Finally, the goods and services tax is getting strict and compliant with the use of data analytics used by the GST officers in capturing discrepancy.
It’s been less than nine months since the GST was launched and it has already come under the radar of the black market. Tax evasion activities through black market and under-valuing of imports have been detected by GST revenue authorities.
To make an initiative in preventing tax evasion by small businesses and traders, the government will introduce the Reverse Charge Mechanism under Goods and Services Tax(GST). In this reverse system, it is the responsibility of recipient utilizing goods and services to furnish GST liability rather than the suppliers, as per a report.
In a recent scenario to combat the illegal tax evasion of GST, the Andhra Pradesh tax officer fined a trader for not paying appropriate GST accountable.
The Allahabad High Court ruled that it is obvious that the only breach is a technical one wherein the E-Way Bill was not present in the vehicle while quashing the Goods and Services Tax (GST) SCN and Penalty Order for alleged tax evasion. For transporting goods without an E-Way Bill the petitioner’s vehicle was intercepted […]
The central tax officials fetched the GST evasion surged to Rs 44,170 cr between April 2019 and October 2023, in Karnataka which directed the arrest of at least 30 people. But the recovery shall stand at only Rs 9,187 crore, accounting for only 20% of the evaded amount. As per the Ministry of Finance data, […]
The State Goods and Services Tax (GST) department in Gujarat recently carried out extensive investigations into 79 mobile phone dealers situated in various cities, including Ahmedabad, Vadodara, Surat, Rajkot, and Bhuj. These investigations unveiled a significant case of tax evasion totalling Rs 22 crore, primarily stemming from unjustifiable rebate claims made by these companies. Senior […]
According to a statement from the finance ministry, the Directorate General of GST Intelligence (DGGI) has discovered a case of GST evasion amounting to ₹57,000 crore between April 2020 and September 2023. This evasion involved more than 6,000 instances of fraudulent input tax credit (ITC) claims, leading to the arrest of 500 individuals. Starting from […]
Delhi High Court witnessed that providing the bogus invoices along with the e-way bills for the GST evasion counted as an economic offence that comprises the loss to the public exchequer that required to be viewed in a serious way. When refusing anticipatory release to a chartered accountant accused of fraud and GST evasion by […]
