A search and seizure action was initiated by the Income Tax Department on few business groups engaged in coal trading/ transportation, execution of civil contracts, extraction of iron ore and production of sponge iron, on 04.11.2022.
Important changes have been made in Return Filing Process
GSTN has started allowing the amendment related to FY 2021-22 in October 2022 return period. This is in line with the recent amendment in the GST Law wherein amendment can be done up to 30th November of the next FY.
Total Revenue Deficit Grant released to States so far in current financial year has gone up to Rs. 57,467.33 crore States will get a total Revenue Deficit Grant of Rs.86, 201 crore in 2022-23
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While Central GST collections could exceed the budget target for FY23 by about Rs 1 trillion, excise duty collections may fall short of the Budget estimate (BE) by Rs 40,000-50,000 crore.
The Maharashtra Goods & Services Tax Department has busted a GST scam involving fake invoices worth Rs 45 crore and arrested a businessman for the alleged fraud, an official said here on Friday.
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The economic offences cell of city police busted a major GST input tax credit racket in which refund was allegedly usurped using bogus bills of transactions worth Rs 200.
The Goods and Services Tax Network ("GSTN") has added a new Federal Bank, bringing the total number of banks accepting GST payments to 20.
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