Sat, Nov 23, 2024
The Gujarat State GST department conducted searches on seven commercial entities and detected tax evasion of Rs 3.53 crore, an official said. These firms were concealing actual revenues, selling without invoice and underreporting tax liability, he added.
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Mon, Jul 01, 2024
Those who 'play' through the exchange platform will be closed. New rules for those involved in tax evasion or generating artificial volumes from July 7. Know complete details from Brajesh Kumar.
Mon, Jul 10, 2023
The Goods and Services Tax Network (GSTN) has been added as the 26th entity to the list of agencies, which are required to share information with the Enforcement Directorate and the Financial Intelligence Unit (FIU) under the PMLA. It will help the ED to zero in on violators who evade taxes by generating fake GST invoices and using other means within the GST network.
Thu, Jun 29, 2023
Six years after the rollout of the biggest indirect tax reform in India, Goods and Services Tax (GST) revenue of Rs 1.5 lakh crore every month has become a new normal and tax officers are focusing on dealing with fraudsters who are adopting newer modus operandi to game the system, causing loss to the exchequer.
Sat, Apr 01, 2023
The company, operating under the brand name Rao IIT Academy, has been suspected of collecting Goods and Services Tax (GST) at 18 per cent on the tuition fees from its students, but declared unrelated and exempt services in the returns filed with the tax department.
Mon, Feb 20, 2023
The Income Tax Department has found major tax discrepancies in BBC after conducting searches at the UK-based broadcaster's offices in New Delhi and Mumbai.
In the BBC tax evasion case, the Income Tax Department has allegedly found huge evidence of tax evasion. According to sources, legal action against BBC is possible. In this case there will be tax liability of 2 years. BBC UK gives 9 percent of the earnings to BBC India. The Income Tax Department has found evidence of tax evasion of about Rs 55-60 crore.
Fri, Sep 02, 2022
GST officers can now launch prosecution against offenders in cases where the amount of evasion or misuse of input tax credit is more than Rs 5 crore, the Finance Ministry has said.
Wed, Jul 20, 2022
The Income Tax department on Wednesday conducted search operations at around 40 premises belonging to Madhusudan Ghee in Mumbai and other places in Maharashtra in connection with alleged tax evasion, sources said.
Thu, Dec 23, 2021
The move will help curb the menace of fake billing.
Wed, Nov 03, 2021
There is a loud and clear message to tax evaders that now government to government data is being shared and it’s now difficult to evade.
Fri, Aug 13, 2021
GST authorities have unearthed over Rs 35,000 crore of tax fraud committed by misuse of input tax credit provision under the Goods and Services Tax (GST) regime.
Wed, Jan 20, 2021
The Income Tax Department on Wednesday conducted raids at 28 properties across Tamil Nadu belonging to evangelist Paul Dhinakaran over alleged tax evasion.
Tue, Mar 03, 2020
These companies procured and generated invoices without the actual supply of goods and availed as well as passed on input tax credit.
Sat, Dec 21, 2019
In a bid to ensure that no tax-evader go scot free, Modi government has directed tax officials to match GST data and income tax (I-T) returns of the taxpayers to scale up scrutiny.
Tue, May 07, 2019
Tax evasion on Radar of IT department. Watch this video to know more.
Wed, Apr 03, 2019
IT Department caught the tax evasion of Rs.15 Crores through the help of satellite pictures from Ghaziabad.
Tue, Mar 26, 2019
IT department's eye on you if you spend more than your income. Watch this video for deep details..
Tue, Jan 08, 2019
In this segment of Money Guru, know ten smart techniques to save your tax. Watch the video to know more.
Thu, Mar 22, 2018
According to the sources, preliminary scrutiny indicated that several newly created LLPs and HUFs as well as proprietary firms have claimed transitional credit for which they were not eligible. The CBEC has already asked chief commissioners to scrutinise all transitional credit claims of over Rs 1 crore. As part of transition to GST last July, taxpayers were allowed to file Form TRAN-1 and avail tax credit on the basis of closing balance of the credit declared in the last return under the pre-GST regime.
Sun, Jan 21, 2018
The Council will look at levying the cess at the manufacturing stage based on production capacity as against the current practice of imposing it on supplies made by the manufacturer
Mon, Jan 01, 2018
The controversial GST feature will reportedly help the government estimate turnover of small firms, and also prevent the firms from hiding their actual turnover and profits.
Fri, Dec 15, 2017
The all-powerful GST Council will meet tomorrow to discuss early implementation of e-way bill as well as ways to plug tax evasion.
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