An Input Tax Credit (ITC) scam making use of bogus invoices was busted by the Karnataka Commercial Taxes Department. According to officials, scrap dealers had allegedly committed tax fraud against the government.
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The Ahmedabad Municipal Corporation (AMC) has been struggling to lease out plots and built property due to the 18% GST levied on leases.
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Zomato Ltd. and Bundl Technologies Pvt.-operated Swiggy have reportedly come under scrutiny from tax authorities with combined notices worth Rs 750 crore.
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Ahmedabad: The Gujarat Real Estate Regulatory Authority (GujRERA) has unveiled a new portal designed to align with the provisions of the RERA Act and GujRERA rules. The platform also ensures that the Income Tax and GST departments receive accurate information about the project stage.
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The Finance Ministry has come out with a detailed procedure for filing an appeal under the amnesty scheme for GST assesses. Officials expect that this scheme will facilitate a large number of taxpayers who could not file appeals in the past within the specified time period.
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Foreign lenders are urging government intervention to exempt custodian services from the Goods and Services Tax (GST), according to sources familiar with the matter. Custodian services, provided to overseas institutional and portfolio investors, are at the center of this request.
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The Kerala GST Department issued Order No. SGST/6199/2023-PLC1 dated November 03, 2023, authorizing Joint Commissioners of State Tax in the Taxpayer Services District to exercise powers under the proviso to sub-rule (1) of rule 23 of the Kerala Goods and Services Tax Rules, 2017 (“the KGST Act”). This pertains to Notification S.R.O. No. 1062/2023, dated September 30, 2023.
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Generation and quoting of Document Identification Number (DIN/Reference Number (RFN) on any communication issued by the officers of the Delhi Goods and Services Tax Department to tax payers and other persons concerned.
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The GSTN issued an Advisory No. 612 dated November 28, 2023 for the procedures and provisions related to the amnesty for taxpayers who missed the appeal filing deadline for the orders passed on or before March 31, 2023.
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The mechanism of Authority for Advance Ruling (AAR) was set up under the goods and services tax (GST) to provide tax clarity to companies and other assesses. However, conflicting rulings by the state-level AARs in some cases and the state-specific jurisdiction of these orders have not made them an effective way to address the queries of assessees.
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Finance Minister Nirmala Sitharaman assured on Monday that the GST regime is transitioning from ambiguity to clarity on certain matters, addressing global firms’ anxieties regarding ‘tax certainty’ in the face of ongoing tax demand notices and investigations by revenue authorities.
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Punjab Finance Minister Harpal Singh Cheema on Tuesday informed the House that the state government has received Rs 3,670 crore of Goods and Services Tax (GST) compensation from the Centre after it lodged a new claim of Rs 5,005 crore with it.
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The central government is working on a simplified Goods and Services Tax (GST) regime for services industries, including e-commerce and travel, which may not have physical offices in the states they operate.
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Hotel operators, especially those in the mid-market and upscale segments, are confronting a challenge that threatens to steer diners away to standalone restaurants: an uneven goods and services tax (GST) structure.
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After the fallout of the recent case at public-sector lender UCO Bank involving erroneous money transfers, the Finance Ministry has called for a meeting on Tuesday (November 28) to discuss digital payment frauds, financial crimes and cybersecurity measures required to counter these activities.
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To curb rising instances of online payment frauds, the government is planning to introduce a minimum time for a transaction beyond a particular amount happening for the first time between two persons. The plan likely includes a possible four-hour window for the first transaction between two users for digital payments being processed for all transactions likely above Rs 2,000, government officials told The Indian Express.
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The Kerala GST Department issued Standard Operating Procedure (“SOP”) vide SGST/973/2023-LEGAL3 dated November 21, 2023, for the Insolvency and Bankruptcy Code (IBC), 2016 cases before the National Company Law Tribunal (“NCLT”).
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The finance ministry is aiming to roll out pre-filled goods and services tax (GST) return forms before the next fiscal year, which is expected to resolve the issue of huge data mismatches leading to tax notices, a senior government official said.
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The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) and the National Academy of Direct Taxes (NADT) today i.e. November 24, 2023 signed a Memorandum of Understanding (MoU) for sharing resources, such as best practices, expert faculty, training materials and innovative technologies.
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In order to check the entry of fraudsters in the system, the State Taxes & Excise Department has set a target of hundred per cent approval of GST registrations in manual mode after proper verification of documents attached with the registration application. Further, the department is taking appropriate measures for physical verifications of registrants considered ‘dicey.’
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The Kerala Vyapari Vyavasayi Ekopana Samithi (KVVES) has demanded a separate department for retail trade in the State to enrich the sector, to protect existing jobs and to create new ones.
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