Raksha Parikh
According to a source, tax officials have discovered that offshore entities are violating GST law by offering online betting gambling platforms to Indian residents through mobile apps, and they are currently working on finding solutions to address this type of tax evasion. The GST law mandates that all offshore entities offering services in India must … Read more
The Authority for Advance Ruling has stated that the transfer of Jaipur International Airport operations by the Airports Authority of India (AAI) to the Adani Group will not be subject to GST. The AAI had asked the Rajasthan bench of the Authority for Advance Ruling (AAR) to clarify if transferring the business to Adani Group … Read more
For GST registered traders the government is set to make an announcement on the soon-to-be-launched national retail trade policy, along with an accident insurance scheme. An official has informed PTI that the government is expected to unveil a national retail trade policy and an accident insurance scheme for GST-registered domestic traders in the near future. … Read more
GST Evasion 2023 | An official has stated that GST officers are utilizing data analytics to determine whether a specific sector’s entire supply chain is paying the appropriate amount of GST or if there is a discrepancy in the chain. The Directorate General of GST Intelligence (DGGI) has increased its efforts to prevent evasion at … Read more
Fraudsters have been using various methods to commit GST Evasion 2023, such as undervaluing taxable goods and services to pay less tax, wrongly claiming exemptions, wrongly claiming input tax credit, not paying taxes on taxable goods and services that have been secretly removed, and fraudulently claiming input tax credit based on invoices from fake companies. … Read more
Government has issued GST Advisory 2023 for bank account validation in GST system. The functionality for bank account validation is now integrated with the GST System. This feature is introduced to ensure that the bank accounts provided by the Tax Payer is correct. The bank account validation status can be seen under the Dashboard→My Profile→Bank … Read more
Many businesses have been stressed out by the large amount of work that goes into ITC claim under gst act. In recent years, the government has been making changes to the GST law to make it harder for people to get ITCs. The most recent change came through Budget 2023. You’re used to the current … Read more
Government has issued GST Advisory of Time limit for reporting e-invoice on IRP portal on 13-04-2023. It is to inform you that it has been decided by the Government to impose a time limit on reporting old invoices on the e-invoice IRP portals for taxpayers with AATO greater than or equal to 100 crores. To … Read more
Concern over tax fraud amounting to Rs. 2,250 crore: DGGI sends show cause notice to HDFC Bank, Go Digit, and Policybazaar. The investigation against insurance businesses for making false claims for input tax credits has been expanded by the Directorate General of GST Intelligence (DGGI). According to persons acquainted with the situation, it has served … Read more
The largest GST revenue growth in Uttar Pradesh in 2022–23 was in the automobile, infrastructure, and iron and steel industries, with overall growth of 21% despite the lack of compensation from the Centre after June 2022. In the most recent fiscal year, the government collected 1.8 lakh crore in GST and VAT, or 86% of … Read more