GST News
CBIC Mandates Strict Reviews of Govt Employees, Potential for Early Retirement
24 August 2024 at 15:40The Central Board of Indirect Taxes (CBIC) has issued a directive to all divisional heads to rigorously follow the guidelines set by the Department of Personnel and Training (DoPT) concerning the periodic review of government employees.
IndiGo to Challenge Rs 3.5 Lakh Penalties Over ITC Issue
24 August 2024 at 08:57IndiGo plans to challenge two GST penalty orders totalling Rs 3,50,299 related to input tax credit claims for FY 2017-18 in Odisha and Kerala.
GST Notices Worth Over Rs 80,000 Crore Issued for Assessment Years 2018-22
24 August 2024 at 08:55The Directorate General of GST Intelligence has issued over 20,000 notices nationwide for AY 2017-18 to AY 2021-22, demanding Rs 80,000 crore. Notices target tax shortfalls, ITC reversal, and legal interpretation issues.
GST Portal Introduces RCM Liability/ITC Statement
24 August 2024 at 08:52To assist taxpayers in correctly reporting Reverse Charge Mechanism (RCM) transactions, a new statement called "RCM Liability/ITC Statement" has been introduced on the GST Portal.
GSTN Issues Advisory for Furnishing Bank Account Details Before Filing GSTR-1/IFF
24 August 2024 at 08:51Advisory for furnishing bank account details before filing GSTR-1/IFF Notification No. 38/2023 - Central Tax New Delhi, the 4th August, 20231.
GST Intelligence Uncovers Rs 1.2 Trillion Tax Evasion Since 2020
22 August 2024 at 09:06In a significant crackdown on tax evasion, the Directorate General of GST Intelligence (DGGI) has exposed fraudulent activities amounting to Rs 1.2 trillion via fake input tax credit (ITC) since 2020.
GST Authorities Tighten Grip on Merchants Evading Taxes via Digital Payment Channels
22 August 2024 at 09:01The rapid expansion of digital payments in India has brought a surge in tax evasion cases, particularly among small online merchants.
Ministry of Education Intervenes after Rs 120 Crore GST Notice Issued to IIT-Delhi
21 August 2024 at 07:11The Ministry of Education has stepped in to address a substantial GST notice issued to the Indian Institute of Technology (IIT) Delhi.
CAG Urges Finance Ministry to Target High-Risk GST Composition Taxpayers
20 August 2024 at 08:57In a significant move to curb potential tax evasion, CAG has recommended that the Finance Ministry implement stricter monitoring measures for high-risk taxpayers under the GST Composition Scheme.
IIT-Delhi Faces Rs 120 Crore GST Demand on Research Funding
19 August 2024 at 08:59The Directorate General of Goods and Services Tax (GST) Intelligence has issued a show-cause notice to the Indian Institute of Technology-Delhi (IIT-D), demanding ₹120 crore in GST on research funding received between 2017 and 2022.
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