The syndicate was being operated by floating seven different fake firms with the intent of passing of inadmissible credit to the tune of Rs 137 crore

The Gujarat High Court's order has caused some concern among taxpayers, who have reasons to believe that the order would add to harassment of taxpayers at ground level

As per a Central Board of Direct Taxes (CBDT) notification, declaration under the Vivad se Vishwas Scheme shall be required to be furnished latest by December 31, 2020

The central government to use artificial intelligence (AI) and Aadhaar registration to track fake firms claiming GST refunds without actually conducting business

The kingpin of this racket is said to be Prince Manish Kumar Khatri, a third-year student and a partner in a Chartered Accountancy firm

Government told Lok Sabha that it has taken several steps for timely detection of tax evasion, including searches and seizures, surveys, enquiries, assessment of income, levy of taxes, penalties, and filing of prosecution complaints in criminal courts

Not only India's relief packages are grossly inadequate it is not even spending enough to revive demand in the crisis-hit economy; what is needed is clear: more fiscal spending, not \"keeping the power dry\" for future stimulus or unrealistic claim of a V-shaped recovery

A private highway contractor said that in states like Tamil Nadu, West Bengal and Maharashtra there were issues related to supply of cement due to localised lockdown but situation is now getting better

This is Part I of two-part article revisiting critical economic decisions that eventually led to minus 23.9% growth in Q1 of FY21. Blaming exogenous factors (pandemic) or intense lockdown is merely an excuse to divert attention from government's ineptitude and thwart meaningful debate

Gross mismanagement of the economy, starting with demonetisation in November 2016 and continued with untimely, unplanned and sudden nation-wide lockdown has compounded the GST problem. Centre's refusal to pay compensation to states now may derail it completely

Arindam Chaudhuri, director of Indian Institute of Planning and Management (IIPM) was arrested by the CGST South Delhi Commissionerate on August 21 over alleged undue claim of Central Value Added Tax (CENVAT) of service tax credit of around Rs 23 crore

In a notification, the Central Board of Indirect Taxes and Customs (CBIC) said when an applicant for GST registration opts for authentication of Aadhaar number, he shall, with effect from Friday (August 21)

The Trump administration has made some exceptions to the recent H-1B visa ban by allowing visa holders to enter the country if they want to return to the same job they had before the ban was imposed in June; The US budget deficit climbed to USD 2.81 trillion in the first 10 months of the budget year, exceeding any on record, the Treasury Department said Wednesday; Education technology company Unacademy, which is already one of IPL's sponsors, is eyeing the league's title sponsorship rights now and is set to submit its bid to replace Chinese mobile phone company Vivo this season. Watch this and more on News Blast.

DGGI uncovers GST evasion worth Rs 17.2 cr after multiple searchesThe Directorate General of GST Intelligence (DGGI) conducted multiple searches at premises of a major cement manufacturer in Madhya Pradesh and Uttar Pradesh over the last seven days and detected GST evasion of Rs 17.2 crore.  The DGGI, the enforcement arm of the Central Board of Indirect Taxes & Customs (CBIC), has arrested a director of the company from Satna in Madhya Pradesh in this connection, it said.H-1B visa ...

The searches have indicated substantial quantities of cement and clinker have been supplied clandestinely without payment of Goods & Service Tax (GST) in Madhya Pradesh and Uttar Pradesh

GST intelligence officials also conducted multiple searches in the states of Madhya Pradesh and Uttar Pradesh from August 5 to August 11 at various premises belonging to the cement manufacturer located at Maihar, Satna and their registered dealers and distributor

The DGGI Nagpur zonal unit, in a statement issued on Friday, said that tax evasion came to light following searches conducted on July 28 and 29 at the two liquor manufacturing units

Purpose of implementing e-invoices is to curb GST evasion through issuance of fake invoices;it'll make returns filing process simpler for businesses

They said the on-site review to be conducted by experts of the global body was scheduled to begin in September-October but the FATF secretariat in Paris has conveyed to India that the review is being tentatively pushed to January-February next year

National Anti Profiteering Authority said that Gaursons Realtech has benefitted from the additional ITC to the extent of 5.77 per cent of turnover during July 2017-March 2019 and has not passed on the benefit to the buyers