The Meerut Zonal Unit of the Directorate General of GST Intelligence (DGGI) has accomplished a major feat by cracking down on a large-scale fake invoicing syndicate that issued invoices with a taxable turnover of Rs. 1,481 crore. The fraud resulted in passing on of fake Input Tax Credit of Rs. 275 crore through 102 fake firms to over 1,000 beneficiary companies.
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E-way bills, or electronic permits, generated by businesses for transporting goods within and across states shot up to an all-time high of Rs 10.3 crore in October, 2023, breaking the previous record of Rs 9.34 crore reported in August. This is mainly on account of festive-driven consumption and improved compliance practices, which are expected to further boost the collection of goods and services tax (GST) in November.
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A month since the 28% goods and services tax (GST) kicked in, online money gaming companies are looking at various models to keep players interested.
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The Bihar government on Monday tabled an amendment bill in the assembly to replace an ordinance to facilitate the imposition of 28 per cent GST on online gaming in the state.
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In a significant breakthrough, the Directorate General of Goods and Services Tax Intelligence (DGGI), Meerut Zonal Unit, has accomplished a major feat by cracking down on a large-scale fake invoicing syndicate that issued invoices with a taxable turnover of Rs. 1,481 crore, resulting in passing on of fraudulent Input Tax Credit of Rs. 275 crore through 102 fake firms to over 1,000 beneficiary companies.
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Justice PS Narasimha, judge of the Supreme Court, recently expressed displeasure at being repeatedly addressed as “Your Lordship” and “My Lord”.
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The clubbing of all cases under the same principle will save Central Board of Indirect Taxes and Customs (CBIC)'s resources and time and facilitate a uniform interpretation of the law in the case of all the companies fighting the case.
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The Ministry of Finance, Department of Revenue, CBIC (Judicial Cell), issued instructions vide F. No. 390/Misc/30/2023-JC dated November 2, 2023, to reduce government litigation, setting monetary limits for filing appeals before CESTAT, High Courts, and the Supreme Court.
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The GSTN issued Advisory No. 611 dated November 04, 2023 for the Pilot Project of Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Gujarat and Puducherry.
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As North Block gears up for budget preparations which will be announced on February 1, 2024, the central board of Indirect Taxes and Customs (CBIC) is aiming at keeping healthy growth targets for GST Collections.
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Consumers would get an opportunity to win cash rewards if they insist on getting a goods and service tax (GST) bill on every purchase they make.
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Gross Goods and Services Tax (GST) revenues hit their second highest monthly tally in October at a little over Rs 1.72 lakh crore, breaking a few long- and short-term trends. To start with, they reflect a 13.4% uptick over last year’s kitty, the highest so far in 2023.
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The Taxes and Excise Department in Himachal Pradesh conducted a special campaign for checking the long-distance buses during the past ten days after there were complaints that they were causing losses to the exchequer by illegally transporting goods into the state.
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Goods and Service Tax (GST) Department and Revenue authorities in Tiruppur district have launched an investigation into complaints by economically backward women residents of Saaya Pattarai street in Tiruppur city that their Aadhaar Card, Pan Card and bank accounts had been used surreptitiously by “unscrupulous elements” for GST evasion.
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In a Diwali gift to traders, the Punjab Cabinet led by Chief Minister Bhagwant Mann on Monday gave approval for introducing the One Time Settlement (OTS) Scheme for settling pre-GST arrears, benefitting more than 60,000 traders.
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The government is likely to hold a series of meetings in November to review, and streamline processes in indirect taxation, including the Goods and Services Tax (GST), a senior government official said.
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A large number of real money gamers said they are likely to play less following the decision of the government to charge a steep 28% goods and services tax (GST) on gamers.
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The Central Board of Indirect Taxes and Customs (CBIC), Ministry of Finance, and all organisations under it participated in mission-mode from October 02 to October 31, 2023 towards achieving the targets set under the Special Campaign for Disposal of Pending Matters (SCDPM) 3.0.
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The Delhi GST Department issued important Instructions vide F.3/432/GST/Policy/2023/1048-1053 dated October 31, 2023 regarding the scrutiny of GST Returns for the Financial Year 2017-2018
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On Thursday, Allahabad High Court issued notice in writ petition challenging the validity of the Central Goods and Service Tax (Amendment) Act, 2023 notified on August 18, 2023 which sought to tax all online money games in toto.
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In what might be a game-changer for both the government and the industry, sources have told CNBC-TV18 that over one lakh appeals involving more than Rs1 lakh crore are expected to reach the GST Appellate Tribunals once it become functional.
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