Massive ITC Fraud Detected by DGGI: 1700 Cases with Rs. 18000 Crores of ITC Evasion Detected this Year & 98 Arrested DGGI Unveils Massive ITC Fraud: According to a recent press release of Ministry of Finance on 3 February 2024, …
GST Council may Consider Nationwide Rollout of Biometric Authentication for registration – Statement of CBIC Chief Biometric Authentication: The Goods and Services Tax (GST) Council is contemplating the implementation of biometric based Aadhaar authentication across India for individuals seeking GST …
Summary of Tax Related Announcements in the Interim Budget 2024 Explore the latest tax-related updates from the Union Budget 2024-2025, presented by Finance and Corporate Affairs Minister Smt Nirmala Sitharaman. This summary delves into the significant tax measures announced on …
Highlights of Interim Budget 2024: Income Tax & GST Finance Minister Nirmala Sitharaman unveiled the Interim Budget 2024 on February 1, 2024, outlining the financial landscape for the upcoming fiscal year starting April 1, 2024. As widely anticipated, there were …
GST Officer Caught Red-Handed in a Sting Operation by Anti-Corruption Bureau (ACB) In a major development, Anti-Corruption Bureau (ACB) officials in Srikakulam district successfully apprehended a GST officer, N. Kishore Kumar, while accepting a bribe of Rs. 1 lakh from …
Amendment in CBIC Notification 2/2017-Central Tax Dt. 19 June 2017 In a significant move, the Central Board of Indirect Taxes and Customs (CBIC) has issued Notification 5/2024 on Dated 30th January 2024, exercising powers under the Central Goods and Services …
Delhi High Court upholds Constitutional Validity of GST Anti-Profiteering Provisions Constitutional validity of Anti-Profiteering Provisions: In a significant development, the Delhi High Court, led by Acting Chief Justice Manmohan and Justice Dinesh Kumar Sharma, has affirmed the constitutional validity of …
Customs & GST Officers Need to Stop Using Public Email IDs & to Use gov.in/nic.in Email IDs for all Official Communication from 01.02.2024 Direction to Stop using Public Email IDs for Official Communications: In a recent move to bolster cybersecurity, …
The Court Rejects the Notion that the DGGI officer Questions the Credibility of the State GST Authorities Verdict on Power & Privilege of DGGI officer vs State GST Officer: In a recent verdict, the Jharkhand High Court has clarified the …
Tentative CBI Probe on Officials involved in Alleged Compromised Investigations: A Step to Combat Tax Evasion CBI Probe on Officials: In the ongoing battle against tax evasion, concerns have been raised over substantial losses incurred by the government due to …
Bombay HC Granted Bail to Individual Accused of 144 Cr GST Evasion In a recent development, the Bombay High Court has granted a bail on 25 January 2024 to an individual accused of evading Rs. 144 crores in Goods and …
Adjustments and Compliance Requirements on Issue of Credit Notes under GST In the realm of Goods and Services Tax (GST), managing credit-note efficiently is crucial for both suppliers and recipients. This article delves into the treatment of credit-notes under GST, …
Court Dismissed the Recovery Proceedings and Quashed the Interest Recovery Notice Interest Should not be Charged for Late Filing of Return if GST is Paid on Time: In a recent ruling, the Madras High Court has clarified that tax assessees …
CBIC Chairman Advises that SCNs Should be Based on a Thorough Examination of Facts and Relevant Documents The Central Board of Indirect Taxes & Customs (CBIC) is urging caution among its officers to avoid the reckless issuance of show cause …
Court Rejected AAAR Stance that ‘Time of Supply’ is Solely Determined by the Date of Issuance of the Gift Voucher The Madras High Court has recently provided crucial clarity on the applicability of Goods and Services Tax (GST) on gift …
Retrospective Cancellation of GSTIN should not Cover the Period when Taxpayer was Compliant and Filed the Returns Legality of Retrospective Cancellation Only Due to Non-filing of Returns: In a recent ruling on 18 January 2024, the Delhi High Court, in …
Court Directed the State Commercial Taxes Department to Refund the Forcibly Collected Tax Within a Two-week Period Patna High Court Order: In a landmark ruling on January 15, 2024, the Patna High Court slapped a Rs 5,000 fine on a …
New Functionality Developed to Address Failure in Furnishing Bank Account Details by Registered Persons within Stipulated Deadline under CGST Rule-10A: GST Advisory In a recent update on January 23, 2024, the Goods and Service Tax Network (GSTN) has released Advisory-623, …
FIR Filed Against 5 GST Officials for Demanding 5 Crore Bribe from Ghaziabad Based Businessman In a recent development, Ghaziabad police have registered an FIR against five officials from the Directorate General of Goods and Services Tax Intelligence (DGGI) for …
Ways and Significance of Verifying validity of SCNs and Orders Issued under GST Verifying Validity of SCNs & Orders: Maintaining tax compliance in the realm of Goods and Services Tax (GST) is crucial, and businesses must prioritize the verification of …