Eight chartered accountants have been arrested so far in fake invoice frauds; ICAI has been informed about these arrests and asked to take appropriate actions as per their own rules

Global real estate consultant Knight Frank India chairman and managing director Shishir Baijal in a pre-budget wish demanded A separate annual deduction of Rs 150,000 that will provide the much-needed fillip to opt for house purchase

Speaking at the Business Today MindRush event on Friday, January 22, Arvind Panagariya, Professor of Economic, Columbia University and Former VC, NITI Aayog said that the economic recovery hinges upon how fast the government can bring the coronavirus under control

Natural gas is currently outside the ambit of GST, and existing legacy taxes -- central excise duty, state VAT, central sales tax -- continue to be applicable on the fuel

Out of the 215 arrests so far, there are 71 masterminds, 81 proprietors, 36 director/managing directors, 15 partners, 3 CEOs, 6 chartered accountants and one each of company secretary, broker, and GST practitioner

GST department's intelligence wing conducted survey at the offices following fraudulent input tax credit by its vendor  

The searches are being conducted for alleged tax evasion data submitted by the Directorate General of GST Intelligence (DGGI) to the tax department

According to Finance Secretary Ajay Pandey, the officials were able to arrest tax evaders because of the data taken from agencies like Income Tax Department, Customs unit, FIU and GST department, and banks

The revenue department has already started sharing such information among its wings - direct tax, indirect tax and customs departments

These organisations face multiple challenges ranging from low capital base, poor credit facility, lack of business know-how and skilled manpower but with government handholding they have the potential to change the fortunes of small and marginal farmers

The government had notified certain changes to the GST Rules on December 22 and some of the rules are set to be applicable from January 1 next year

CBIC on December 24 notified certain changes to the GST rules, asking businesses with a monthly turnover of over Rs 50 lakh to mandatorily pay at least 1 per cent of their GST liability in cash

CBIC says new rule will help control those who issue fake invoices and show high turnovers but have no financial credibility; CAIT urges Finance Minister Nirmala Sitharaman to defer its implementation and terms it a \"counter-productive\" measure

CAIT, in a letter to Sitharaman, has drawn her attention towards Section 86B, saying that \"it is a counter-productive step which will load the traders further with burden of compliance and also much financial obligation\"

The Central Board of Indirect Taxes and Customs (CBIC) has notified certain changes to the Goods and Services Tax (GST) Rules, bringing in stringent conditions for getting GST registration as well as for businesses to settle tax liability using input tax credit

The government has notified on Tuesday the recommendations of the Law Committee of the GST Council in order to control the menace of GST fake invoice frauds

The tax department has further identified 28,635 taxpayers who have not filed their GSTR-3B returns for more than 6 months as on December 1, 2020, and has ordered to cancel them

India's national agriculture policy is 20 years old and its response to farm crisis continues to be ad hoc, primarily focused on letting private players provide infrastructure and better remuneration to farmers who have consistently failed to deliver

As per a Directorate General of GST Intelligence (DGGI) release, searches were conducted on a Mumbai-based firm, M/s M & M Advisors and Consultants Private Limited, as follow-up of the detection of a non-existent advertising firm in Dhule

The petitions, filed by companies like Hindustan Unilever, Jubilant Foodworks, Abbott, Nestle, Whirlpool, IFB, Johnson & Johnson (J&J), etc, seek to first address the question on the constitutional validity of the anti-profiteering law in absence of any methodology to calculate profiteering