In a significant move to address the growing issue of data discrepancies in tax return filings, the CBIC is set to introduce advanced technological solutions to resolve mismatches and reduce related disputes. A recent analysis by CBIC revealed that a majority of tax disputes arise from …
Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Odisha This is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process. 1. Rule …
The design architecture for implementing GST e-invoicing for retailers is nearly finalized and undergoing expert review, according to GST Network CEO Manish Kumar Sinha. Speaking at an Assocham event, Sinha highlighted the ongoing discussions with industry stakeholders to facilitate the issuance of electronic invoices for every …
A significant number of the show-cause notices issued to taxpayers under the GST regime in 2023-24 stemmed from data discrepancies in tax return filings, a senior indirect tax official said on Tuesday. Efforts are now underway to leverage technology to resolve these mismatches and ease the …
The Central Board of Indirect Taxes and Customs (CBIC) is considering amending its June 26, 2024, circular to quash Goods and Services Tax (GST) liabilities for Infosys and similar companies facing tax demands on fund transfers to their overseas branches. According to an official source, this …
Most members of the Group of Ministers (GoM) of the Goods and Services Tax (GST) Council have indicated they are not in favor of providing any tax relief to the real estate sector concerning Joint Development Agreements (JDAs). Despite ongoing deliberations, the GoM is expected to …
In a major breakthrough, Uttar Pradesh police uncovered a large-scale GST fraud syndicate, arresting seven individuals in Muzaffarnagar on Tuesday. The group had been operating 48 shell companies to issue fake GST invoices worth Rs 900 crore, causing a revenue loss of approximately Rs 125 crore …
1. Section 39 (11) of the CGST Act, 2017, implemented w.e.f 01-10-2023 vide Notification No. 28/2023 – Central Tax dated 31th July, 2023, provides that the taxpayers shall not be allowed to file their GST returns after the expiry of a period of three years from …
The Directorate General of Goods and Services Tax Intelligence (DGGI) has issued show-cause notices to more than a dozen food and beverage companies, citing improper GST payment on trademark usage by their franchises and outlets located outside their home states. The notices, sent in early August, …
Tax authorities have uncovered approximately 10,700 fake GST registrations, involving tax evasion worth ₹10,179 crore, during an ongoing all-India drive against fraudulent companies, a senior official from the Central Board of Indirect Taxes and Customs (CBIC) announced. Shashank Priya, CBIC member, revealed that Aadhaar authentication for …
