GST News

3 GST officials involved in fake raid dismissed through newspaper ad

22 March 2023 at 07:03

The state goods and service tax department led by senior bureaucrat Rajeev Mittal on Tuesday dismissed three GST inspectors after it was confirmed they were involved in a fake raid and decamped with Rs 11 lakh from a leading trader.It was for the fir

Posted in GST | 7455 Views

GSTN issues advisory for taxpayers wishing to register as OPC in GST

21 March 2023 at 14:36

Advisory for the taxpayer wishing to register as "One Person Company" in GSTAs per provision of section 2(62) of The Companies Act, 2013 "One Person Company" is defined as a company which has only one person as member. Some issues

Posted in GST | 7731 Views

GST officers unearthed fake invoicing racket involving tax evasion of Rs 17 crore

20 March 2023 at 08:40

GST officers in Delhi have unearthed a fake invoicing racket involving tax evasion of Rs 17 crore and arrested two persons, the Finance Ministry said on Saturday.

Posted in GST | 3969 Views

GST dept to scrutinise IT, MCA data to identify entities not paying taxes

20 March 2023 at 08:40

The GST department will soon begin analysing ITRs filed by businesses and professionals and also MCA filings to ascertain if the entities are adequately discharging their GST liability and widening the taxpayer base.

Posted in GST | 8496 Views

GST stalemate to continue for cryptocurrencies

18 March 2023 at 06:55

The proposed move to levy goods and services tax (GST) on cryptocurrencies is set to be delayed as consensus on the modalities has eluded officials from the centre and state governments.

Posted in GST | 3207 Views

CBIC initiates investigation of insurance companies for alleged wrongful availment of ITC

17 March 2023 at 08:46

The GST wing of the Central Board of Indirect Taxes & Customs (CBIC) is investigating over a dozen insurance companies for allegedly claiming wrongful input tax credits of amount pegged at Rs 1000 crore.

Posted in GST | 2940 Views

GST Evasion of Rs 150 Crore discovered in TMT Bar Clearance

13 March 2023 at 08:36

The Directorate General of GST Intelligence (DGGI), Chennai recently carried out coordinated search operations against three major taxpayers involved in the supply of TMT Bars. The investigation has revealed that these entities were engaged in the il

Posted in GST | 5145 Views

Taxpayers to mention 6-digit HSN Codes for outward supplies if AATO exceeds Rs 5 Crores

10 March 2023 at 08:37

A recent update issued by GST E-Invoice System dated March 09, 2023 stated that the E-Invoice System will not accept 4-digit HSN codes and the date for blocking e-Invoice generation having HSN code as 4-digits will be intimated Soon.

Posted in GST | 12282 Views

E-way bill generation in Feb dropped to a 3-month low of over Rs. 8.18 crore

09 March 2023 at 08:35

During fiscal year 2021-22, number of e-way bill generated in December was 7.16 crore which dropped to 6.88 crore in January but rose to 6.91 crore in February...

Posted in GST | 4575 Views