The Compliance Audit Report of the Comptroller and Auditor General (CAG) of India on Goods and Services Tax said that GST System prone to Input Tax Credit (ITC) frauds due to complexity in compliance system.
The Bayer has invited applications for the post of Manager- Tax Operations (Indirect Taxation). The Manager is to be a care taker of GST / Pre-GST Tax compliance of assigned geography and states falling within
The Central Board of Indirect Taxes (CBIC) vide notification 38/2023 issued on 4th August has amended the Central Goods and Services Tax (CGST) Rules, 2017. A new rule 163 is inserted to the GST rule
The Economic Survey of 2022-23 highlighted the recovery of Micro, Small, and Medium Enterprises (MSMEs) after the pandemic. In FY21, GST paid by MSMEs had declined, but by FY22, it surpassed the pre-pandemic levels of
The Delhi High Court in a recent decision observed that clear reasons should be indicated in show cause notice (SCN) for which Goods and Service Tax (GST) registration cancellation is proposed. The petitioner, M/s Frequent
The Goods and Services Tax Network ( GSTN ) has issued Few important changes related to QRMP Scheme implemented on the GST Portal for the taxpayers are as given below:A.Auto population of GSTR-3B liability from
The Patiala House Court has dismissed a bail application filed by a Chartered Accountant in a GST scam worth Rs.7,60,89,626/-. The CA was allegedly involved in preparing forged certificates for bogus companies claiming GST refunds
The Rajasthan High Court refused to grant bail to the CA for allegedly availing wrongful ITC by creating as many as 38 fake firms. Mr. Mr. JatinHarjai Counsel for the petitioner, submits that the petitioner,
The officers of CGST Delhi North Commissionerate upon data analysis and gathering of intelligence zeroed in on Shri Krishan Kumar who was involved in creating and operating fake firms using identification documents of his friends/employees.
A Single Bench of the Madras High Court observed that the availment of lower input tax credit ( ITC ) than amount reflected in auto-populated GSTR 2A Return amounts to non-application of mind. The petitioner
In a recent decision the Karnataka High Court observed that tax exemption cannot be denied to government's helicopter pilots trainer on non-furnishing of GSTIN. The petitioner was issued with notice in Form GST DRC-02 on
The gross GST revenue collected in the month of January 2021till 6 PM on 31.01.2021 is ₹ 1,19,847 crore of which CGST is ₹ 21,923 crore, SGST is ₹ 29,014 crore, IGST is ₹ 60,288 crore (including ₹ 27,424 crores collected
The Directorate General of GST Intelligence (DGGI) of Chennai Zonal Unit has arrested 2 men Input Tax Credit (ITC) Rackets involving 59 fake companies on bogus ITC claims of Rs. 175.58 crores. At the Bengaluru
Acting on specific intelligence that a few units located in Kandla SEZ at Gandhidham, (Gujarat) in connivance with about 20 exporter firms/companies based in the National Capital Region (NCR) have hatched a major conspiracy to
The Quarterly Return Filing and Monthly Payment of Taxes (QRMP) Scheme was introduced by the CBIC from 1st January 2021, to help small taxpayers by way of reducing their compliance burden. The article covers the
