GST Appellate Tribunal (GSTAT) May Begin Operation by July-August 2024 The much-awaited Goods and Services Tax (GST) Appellate Tribunals, intended to resolve taxpayer disputes under the six-and-a-half years old indirect tax regime, may begin operations around July or August, Revenue …
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 …
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 …
A Comprehensive List of Relief Measures Expected from Budget 2024Â As we gear up for the interim budget announcement on February 1, 2024, by Union Minister Nirmala Sitharaman, taxpayers eagerly await potential amendments that could impact their financial landscape. Although …
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, …
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 …
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 …
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 …
Expectation of Salaried Taxpayers from Budget 2024Â As Finance Minister Nirmala Sitharaman prepares to present the budget for the fiscal year 2024-25 on February 1, 2024, salaried taxpayers are eager to see how it might impact their finances. Although the …
GST Council Relinquished the Authority to Levy GST on ENA Outside the GST Ambit Liquor companies are eagerly awaiting clarity on the taxation of Extra Neutral Alcohol (ENA) used in distilling alcoholic beverages for human consumption, as the amendment to …
MPC Member of RBI Ashima Goyal Recommends for Taxing Wealthy Farmers in the Budget 2024 to Enhance Tax Fairness As the nation eagerly anticipates the upcoming Interim Budget 2024, Reserve Bank Monetary Policy Committee (MPC) member Ashima Goyal has proposed …
NRAI Urges Government for Restoration of ITC in Budget 2024 In a significant appeal to the government ahead of Union Budget 2024, the National Restaurant Association of India (NRAI) has called for the reinstatement of input tax credit (ITC) for …
A Highlight of the Performance of DGGI in 2023 According to a Press release by PIB on 11th January 2024, the Directorate General of GST Intelligence (DGGI), the agency has demonstrated exceptional performance in combating GST evasion and ensuring fiscal …
Interview with Former CBIC Chief Mr. John Joseph on GST for Online Gaming In a recent discussion, John Joseph, former chairman of the Central Board of Indirect Taxes and Customs (CBIC) and current Strategic Adviser with DeepStrat, highlighted key insights …
Exporters are also awaiting for potential simplifications in the Input Tax Credit (ITC) process in the Budget 2024 Announcement In the upcoming Union Budget for the financial year 2024-25, there are expectations of key adjustments in the Goods and Services …
Key Expectations of Personal Income-Tax Payers from Interim Budget 2024 As we eagerly await the unveiling of the interim budget on February 1, 2024, all eyes are on the potential adjustments to personal income tax, a topic that captures the …
GST Dept informed Supreme Court of its intention to file petition seeking transfer of all related cases from High Courts to Supreme Court The Supreme Court has served notice to the Central Government in response to a plea from online …
29,273 bogus firms have been exposed, allegedly involved in suspected fraud by way of Input Tax Credit (ITC) evasion amounting to Rs. 44,015 crores In a relentless effort to combat fraud in the Goods and Services Tax (GST) and enhance …