The vigilance wing of the state Goods and Services Tax (GST) department has unearthed a Rs 150-crore scam involving 17 traders and two Mumbai-based tax officers. As per the investigation into the matter, the masterminds allegedly formed 40 shell companies and named contractual workers, porters, hotel waiters and drivers as their directors.
Read More
The CBIC vide Notification No. 47/2023-Central Tax dated September 25, 2023, has earlier notified special procedure which shall be followed by registered persons engaged in manufacturing of Pan Masala & Tobacco products. Now, it has been provided that this new procedure shall be effective from January 01, 2024.
Read More
The Centre is working on a database of suppliers that will rank them on the basis of their goods and services tax (GST) compliance track record, credit history, transaction and supply history besides any past defaults. The mechanism could be brought in the upcoming vote-on-account and introduced from the next financial year.
Read More
The Goods and Services Tax (GST) Commissionerate Monday seized assets worth Rs 19 crore from a sugar factory owned by BJP national secretary Pankaja Munde in Maharashtra’s Beed district for GST evasion on sugar sales.
Read More
A recent tweet by the GST Council’s Official Twitter handle stated that the 52nd meeting of the GST Council has been scheduled to be held on October 07, 2023, at Vigyan Bhawan, New Delhi.
Read More
Dream11 parent Dream Sports (Sporta Technologies Private Limited) has filed a writ petition in the Bombay High Court challenging the show cause notice issued by the tax authorities for alleged GST evasion and not paying 28 percent GST on the face value of bets, Moneycontrol has learnt.
Read More
Union Finance Secretary and senior IAS officer T.V. Somanathan on Saturday said Artificial Intelligence (AI) can replace the work being done by auditors and accountants.
Read More
North Eastern states have benefitted from the implementation of Goods and Services Tax (GST) by way of a big jump in their revenue collections after the tax reform in 2017, finance minister Nirmala Sitharaman said at an event on Saturday.
Read More
Casino operator Delta Corp has received tax notices totalling Rs 16,822 crore from the Directorate General of GST Intelligence on Friday. This demand is for the period between July 2017 and March 2022.
Read More
About 80 online gaming companies are likely to face tax notices for alleged goods and services tax (GST) evasion of Rs10,000-12,000 crore, according to a senior government official.
Read More
Despite promising the state two benches of the GST Appellate Tribunal, the union finance ministry has issued a notification allocating only one bench to Kerala and Lakshadweep. This has caused confusion and disappointment in Kerala, where the state government had already passed a Bill to set up two benches. The state has now requested the union government to clarify the situation.
Read More
The Life Insurance Corporation of India received a Goods and Services Tax receipt, including interest and penalty, of over Rs 290 crore from the Bihar state tax officials.
Read More
The Directorate-General of Goods and Services Tax Intelligence (DGGI) has upped the quantum of alleged tax evasion by online gaming companies to nearly Rs 31,000 crore. Official sources told BT TV that the authorities are in the process of sending show cause notices, adding that they suspect around 80 online gaming companies to be involved in this.
Read More
The Goods and Services Tax Network (“GSTN”) has now added a new ‘Track Application Status’ tab to the GST registration process. When a person needs to file further clarifications, they can log in with their Temporary Reference Number (“TRN”) and access this tab. In the past, tracking the application status had to be done separately from the Registration Dashboard on the GST Portal.
Read More
“Economic activity maintained its momentum. High frequency indicators suggest that the second quarter of FY24 is shaping up well too,” said the Monthly Economic Review of the ministry.
Read More
Himachal Pradesh Chief Minsiter Sukhvinder Singh Sukhu, who holds the portfolio of Finance, tabled a legislation in the state assembly, seeking to amend taxation on the goods carried by the roads to omit the provision to levy tax on account of distance covered.
Read More
The complainant had applied to the office of the Business Tax Officer on September 13 to cancel the business tax of his company, Kalpdeep Industrial Security Services, which had been closed for two years.
Read More
Madhya Pradesh recorded the highest growth in tax revenues among major States in the first quarter. The State own tax revenue (SOTR) of Madhya Pradesh grew 23 per cent year-on-year to Rs 23,387 crore in the April-June quarter. Tamil Nadu recorded the lowest growth in this period at 2 per cent.
Read More
Products made by jail inmates should be exempted from GST, as this will give them a competitive edge over similar products made by big business houses, besides improving their sales and profitability, a high-level Parliamentary panel said.
Read More
“The officers seized incriminating records and digital evidence and the investigation is in progress. As a result of the search operation conducted, it is suspected that a substantial volume of turnovers has been suppressed, and tax has been evaded by the said group of coaching institutes.
Read More
The Commercial Taxes Department, Karnataka, busted a prominent group operating multiple coaching institutes in Vijayapura for alleged evasion of Goods and Services Tax (GST).
Read More
