GST departments on an overdrive with notices and summons
The Central and state Goods and Services Tax authorities have shot off a spate of notices to companies over the last few months. This is likely to only increase in the coming months.
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The Central and state Goods and Services Tax authorities have shot off a spate of notices to companies over the last few months. This is likely to only increase in the coming months.
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In yet another case of curbing GST evasion, Directorate General of GST Intelligence (DGGI) Ahmedabad has alleged Rs 1.2 to Rs1.5 lakh crore of tax evasion by shipping liners, sources have told CNBC-TV18.
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There is bad news for entities that availed of input tax credit (ITC) for GST based on bogus invoices without receiving the goods. The Allahabad high court has dismissed a petition and ruled that evidence of payment of toll and freight is required to be submitted to prove genuineness of a transaction.
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Calling revenue theft a national loss, CM Yogi Adityanath advised government officials to use technology to check tax evasion. While reviewing the state’s tax and non-tax revenues in the first two quarters, Yogi said there was a need for increasing special disciplinary units and mobile enforcement units, which have shown success in curbing tax evasion.
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A team of officials from the Central Goods & Services Tax (CGST) department raided a pan masala factory in Nadarganj area of Lucknow on Saturday night. The raids were on till reports last came in.
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It has come to the attention of the GST authorities that several taxpayers, whose GST registrations were previously canceled due to fraudulent practices, continue to operate their businesses and collect taxes unabated.
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Godrej Landmark Redevelopers (GLRPL), now merged with Godrej Projects Development (GPDL) which is a subsidiary of Godrej Properties, has received an order from the Additional Commissioner, CGST & C. Ex., Navi Mumbai, for GST demand of Rs. 129.39 crore along with interest and a penalty of Rs 129.39 crore.
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The distribution of gold coins, white goods and discount coupons given to incentivise sales would be treated as supply of goods and hence the Goods and Services Tax (GST) would be imposed on them, the authority for advance rulings (AAR) of Telangana has ruled. Input tax credit (ITC) can be claimed on the tax paid, it said.
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The Indian government has implemented a new amendment to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, in an effort to enhance record-keeping for international transactions exceeding Rs 50,000. The move aims to combat terror financing by subjecting such transactions to closer scrutiny, according to an ET report.
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Now, the CBIC vide Notification 20/2023-Central Tax (Rate) dated October 19, 2023 inserted the S. No. 6AA after S. No. 6A in the Notification 05/2017-Central Tax (Rate) dated June 28, 2017
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Earlier, the CBIC vide Notification No. 17/2017 Central Tax (Rate) dated June 28, 2017 specifies categories of services, on which the tax on intra-State supplies is paid by the electronic commerce operator (ECO) – (i) services by way of transportation of passengers by a radio-taxi, motorcab, maxicab, motor cycle, omnibus or any other motor vehicle;
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Earlier, the Notification No. 15/2017-Central Tax (Rate) dated June 28, 2017 (“the Notification”) stated that no refund of unutilised input tax credit shall be allowed under sub-section (3) of section 54 of the said Central Goods and Services Tax Act, in case of supply of services specified in sub-item (b) of item 5 of Schedule II of the Central Goods and Services Tax Act
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From April 2020 to September 2023, more than 6,000 fake input tax credit cases involving more than Rs 5.7 trillion in evaded GST has been detected and a total of 500 persons have been arrested, the ministry said. Since June 2023, DGGI has placed special emphasis on identifying and apprehending the masterminds of syndicates operating across the country, the ministry said.
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As per the sources, the DGGI is currently conducting searches at the offices of prominent international airlines, including Etihad Airways, Emirates, Saudi Airlines, Qatar Airways, Air Arabia, Oman Air, and Kuwait Airways.
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Being the premier Intelligence and Investigating Agency of GST tax evasion across the country, the Directorate General of GST Intelligence (DGGI) had initiated a Special Drive against the practice of claiming fake Input Tax Credit (ITC) to plug the leakage in Government revenue from November, 2020, and continues to check ITC evasion actively.
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Governor Banwarilal Purohit has raised objections to the two GST amendment Bills sent to him by the state’s Aam Aadmi Party government for approval. These money Bills are to be tabled in the upcoming Punjab Vidhan Sabha special sitting, scheduled to begin on Friday
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The Goods and Services Tax Network (“GSTN”) has issued an Advisory No. 609 dated October 17, 2023 on the Person supplying of Online Money Gaming services or Online Information Database Access and Retrieval (OIDAR) or Both– Form GST REG-10 and Form GSTR-5A.
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The Indian arms of around 1,000 multinational corporations (MNCs) have recently received tax demands from goods and services tax (GST) authorities. The demands raised sought an 18 per cent tax on salaries and allowances paid to foreign expatriates (expats) by their overseas parent companies.
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Online real money gaming firms are pivoting their business models and diversifying outside India after the government’s decision to levy 28 per cent GST on online gaming platforms from October 1, 2023.
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Tax authorities are closely looking into transactions of casinos to examine evasion of goods and services tax (GST) in the past. According to sources, more notices are likely to be sent to casinos in the coming days.
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The GST Council is likely to clarify that going ahead, the construction of civil structures, like bridges, roads, etc., which are not intended for sale to a buyer, will get a refund of the accumulated input tax credit (ITC) from the date the notification is issued, a senior government official told Moneycontrol.
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