CAclubindia News

GST Evasion Surges to Rs 2.01 Lakh Crore in FY24

16 September 2024 at 09:09

In the 2023-24 fiscal year, the Directorate General of GST Intelligence (DGGI) detected a staggering Rs 2.01 lakh crore in GST evasion across 6,084 cases, according to the agency's annual report.

Posted in GST | 2286 Views

3 Mumbai Businessmen Arrested in GST Fraud: Fake ITC Claims via 8 Shell Companies

16 September 2024 at 09:07

In a major crackdown on fraudulent Input Tax Credit (ITC) claims, the Central Goods and Services Tax (CGST) Palghar Commissionerate has uncovered a fake ITC racket amounting to Rs. 59.11 crore.

Posted in Income Tax | 5187 Views

Rs 1,400 Crore GST Evasion: Former Chief Secretary Somesh Kumar Under CID Scrutiny

16 September 2024 at 09:02

The Crime Investigation Department (CID) is getting ready to interrogating some of the officials of the commercial taxes department including the former Chief Secretary Somesh Kumar in connection with a GST scam.

Posted in GST | 2919 Views

Zomato to Challenge Rs 5.6 Crore GST Demand from West Bengal Government

16 September 2024 at 09:01

On September 14, Zomato announced its intention to appeal a recent GST order from the West Bengal government, which demands a total of Rs 5.6 crore for the period from April 2020 to March 2021.

Posted in GST | 582 Views

Bring Bun and Cream Separately: TN Hotelier's GST Quip Sparks Reaction from FM Sitharaman

14 September 2024 at 17:28

In a recent interaction held in Coimbatore with the Union Finance Minister Nirmala Sitharaman, a hotelier tried to make her understand the complexity of GST in India comically.

Posted in GST | 3108 Views

Finance Minister Examines GST Requests from Hotels for Food Items

14 September 2024 at 09:25

Finance Minister Nirmala Sitharaman announced in Coimbatore on Thursday that a Group of Ministers (GoM) is actively reviewing the demands of the hotel industry regarding GST on various food items.

Posted in GST | 3291 Views

TCS Employees Receive Income Tax Demand Notices Over TDS Claims

14 September 2024 at 09:20

Employees of Tata Consultancy Services (TCS) have recently been issued tax demand notices by the Income Tax Department over discrepancies in their Tax Deducted at Source (TDS) claims.

Posted in Income Tax | 5436 Views

Punjab Govt Joins Pilot Project for B2C E-Invoicing to Boost Tax Compliance

14 September 2024 at 09:19

In a significant move to bolster tax compliance, the Punjab government has volunteered to participate in a pilot project for business-to-consumer (B2C) e-invoicing.

Posted in GST | 4848 Views

GST Council Imposes 18% GST on Private School Affiliation Fees

14 September 2024 at 09:17

The 54th GST Council meeting brought an unexpected blow to private schools affiliated with boards such as the Punjab School Education Board (PSEB) and the Central Board of Secondary Education (CBSE).

Posted in GST | 3 comments | 30099 Views

Experts Highlight Excessive IGST Allocation to States, Urge for Corrective Measures

13 September 2024 at 09:20

The Central Government has established an internal committee to investigate the "negative balance" in IGST collections, a move that tax experts attribute to excessive IGST transfers to some states due to settlement discrepancies

Posted in GST | 1953 Views