The GST authorities have busted a major GST evasion racket worth ₹30,000 crore across 16 states. The racket was allegedly being operated by a group of people who had stolen the PAN and Aadhaar details of beneficiaries of several government schemes, including PM Kisan. The stolen …
The Institute of Chartered Accountants of India (ICAI) has formulated the New Scheme of Education and Training in lines with International Education Standards and National Education Policy, 2020 (NEP) after considering the inputs from various stakeholders. The New Scheme of Education and Training has been notified …
Finance Minister Nirmala Sitharaman on Friday asked tax officers to strengthen the GST registration process further by using technology. This was during a review meeting on fake registration and billing. Tax officers have identified 11,140 fake GST registrations and initiated action against fraudsters in the ongoing …
DGGI Gurugram officials bust ITC racket involving 461 shell entities with fraudulently claiming Rs 863 crore, 2 held Recently, the Gurugram Zonal Unit of Directorate General of GST Intelligence have unearthed a major fraudulent Input tax Credit (ITC) racket involving 461 shell/fake entities, which had passed …
CBIC has extended the due date for filing GSTR-1, GSTR-3B & GSTR-7 for April & May 2023 in Manipur till June 30, 2023. The Central Board of Indirect Taxes and Customs (CBIC) issued three notifications on June 19, 2023, extending the due dates for filing these …
Telangana is emerging as a formidable economic power in the country, recording a remarkable growth in a short span of time. This is evident from the State achieving a 69 percent growth rate in Goods and Services Tax (GST) collections in less than four years. As per …
The Central Board of Indirect Taxes and Customs (CBIC) chairman, Vivek Johri, has said that the GST administration has shortlisted 50,000 fresh cases that will be taken up for GST auditing in the current financial year (FY24). This is as part of efforts to increase compliance …
Gross Direct Tax collections for Financial Year (FY) 2023-24 register a growth of 12.73% Net Direct Tax collections for the FY 2023-24 grown at over 11.18% Advance Tax collections for the FY 2023-24 stand at Rs. 1,16,776 crore as on 17.06.2023, showing a growth of 13.70% …
The Reserve Bank of India (RBI) on Sunday refuted reports that Rs 88,032.5 crore worth of Rs 500 notes have gone missing. The RBI said that all the banknotes supplied from printing presses to the central bank are properly accounted for. The reports of missing notes …
