The GST e-invoice system issued an Update on September 11, 2023, mandating 2-Factor Authentication for all taxpayers with Aggregate Annual Turnover (“AATO”) exceeding Rs 20 Cr, effective from November 1, 2023.
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Commercial real estate developers leasing their properties are receiving notices about blocked credit eligibility under sections 17 (5) C and 17 (5) D even as the case is being argued at the Supreme Court, say real estate industry stakeholders.
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Goa saw a robust 23% increase in GST collections over the first five months of the financial year thanks to a resilient tourism sector, as well as stronger enforcement and strict compliance by the state tax department.
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Pidilite Industries, a leading adhesive, waterproofing solutions and construction chemicals maker on Saturday said a fine of Rs 2.64 lakh has been imposed on the company by the GST department.
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Police have booked a businessman for cheating the UT excise department of Rs 12.36 crore through fake input tax credit claims.
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Games, schemes, competitions or activities, irrespective of whether the outcome is based on skill, chance or both is now part of the ordinance and includes betting, casinos, gambling, horse racing, lottery or online money gaming.
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The camp registered more than 25 new traders on the spot and their Temporary Reference Numbers (TRNs) were generated under the GST Act. It was organised after the directions of Arshdeep Singh Thind, Taxation Commissioner, and Darvir Raj, Deputy Commissioner, State Taxes.
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Three officials of Shemaroo Entertainment – CEO Hiran Gada, joint managing director Atul Maru and chief financial officer Amit Haria were arrested on Thursday by the Central Goods and Services Tax (CGST) department for fraudulently claiming Input Tax Credit (ITC) of Rs 70.25 crore.
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The Income-Tax Department has sent out intimation notices to 22,000 taxpayers, including salaried and high networth individuals and trusts whose deductions do not match the information furnished in their Form 16 or Annual Information Statement (AIS) or the data available with the Income Tax Department.
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The Karnataka cabinet on September 7 deferred the approval of a draft ordinance to impose a 28 percent GST on online money gaming, casinos, and racecourses.
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The Delhi High Court has observed that issuing fake invoices and e-way bills for GST evasion is an economic offence involving loss to the public exchequer which needs to be viewed seriously. Justice Amit Bansal made the observation while denying anticipatory bail to a chartered accountant accused of forgery and GST evasion by creating false invoices issued by non-existent entities.
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The CBIC has issued Instruction No. 27/2023-Customs, dated September 6, 2023, regarding the Streamlining of Customs Post Clearance Audit (PCA) Work.
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The Kerala GST Department has issued Instructions through Circular No. 13/2023, dated June 22, 2023, regarding the maintenance of a Call Book for the adjudication process.
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Karnataka plans to implement 28 percent GST on the real-money gaming sector through a draft ordinance, making it one of the first states to bring in the new tax rates for the burgeoning sector.
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The CBIC vide Notification No. 45/2023 – Central Tax dated September 06, 2023 has introduced the Central Goods and Services Tax (Third Amendment) Rules, 2023. These rules will take effect on a date specified by the Central Government through an Official Gazette notification.
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“It is mandatory on our part to amend the Arunachal Pradesh Goods & Services Tax Act, 2017 as done by the central government and other state governments by enacting the Arunachal Pradesh Goods & Services Tax (Amendment) Bill, 2023,” he said.
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The Anti-Corruption Bureau (ACB) on Tuesday arrested a tax inspector while allegedly accepting a bribe of Rs 10,000 from a complainant at State Goods & Services Tax (GST) Commissioner’s office here.
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Union Finance and Corporate Affairs Minister Nirmala Sitharaman said technology is a powerful tool for building an inclusive, resilient and sustainable financial eco-system and called for global cooperation and collaboration, which she said, is absolutely critical for a responsible financial eco-system.
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The Supreme Court on Wednesday stayed a Karnataka High Court verdict passed in May this year that quashed a notice issued by the Goods and Services Tax (GST) department claiming Rs 21,000 crore in dues from online gaming company Gameskraft. [Directorate General of Goods and Services Tax Intelligence and Ors v. Gameskraft Technologies Private Limited and Ors]
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Punjab finance minister Harpal Singh Cheema on Tuesday said the state government has recorded a growth of 28.2% in goods and services tax (GST) revenue during the first five months of the current fiscal year 2023-24 as compared to the last fiscal year.
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Karnataka AAR has ruled that such sops should be classified as ‘supply’ and be subject to GST. Tax experts said the judgment contradicts previous court verdicts on similar cases. That apart, since such incentive schemes are very common across companies, a clarification from GST Council would allay industry concerns, they added.
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