Search For "input tax credit"
DGGI uncovers 1,700 fraudulent ITC cases worth Rs 18,000 cr in FY 2023-24
Updated : 2 years, 3 months ago IST
The Directorate General of GST Intelligence (DGGI) has unveiled 1,700 fake Input Tax Credit (ITC) cases involving a sum of Rs. 18,000 crore in the current financial year up to December 2023.
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29,273 bogus firms involved in suspected GST ITC evasion, 121 arrested: Fi
Updated : 2 years, 4 months ago IST
A total of 29,273 bogus firms involved in suspected Input Tax Credit (ITC) evasion of Rs 44,015 crore have been detected since mid-May 2023, an official statement issued by the Finance Ministry said on Sunday.
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Budget 2024-25: NAREDCO seeks funds for completing stressed and stalled re
Updated : 2 years, 3 months ago IST
In a letter to Union Finance Minister Nirmala Sitharaman, as part of its pre-budget recommendations by the apex real estate body, it further sought other budgetary support and relaxations, including allowing input tax credit under GST and incentives for rental housing, in order to achieve
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DGGI detects Rs 1.36 lakh crore overall GST evasion in FY2023-24
Updated : 2 years, 7 months ago IST
According to an official press release from the Ministry of Finance, "Overall in FY2023-24, Rs 1.36 lakh crore has been detected as overall GST evasion (including fake ITC) and voluntary payment of Rs 14,108 crore has been made for the same."
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GST Council decides to cede right to tax extra neutral alcohol to states
Updated : 2 years, 7 months ago IST
The Law Committee will examine suitable amendments in the law to exclude ENA for use in the manufacture of alcoholic liquors for human consumption from the ambit of GST.
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3 held for fraudulent input tax credits claims of Rs 557 cr, creating 246
Updated : 2 years, 9 months ago IST
All three accused were produced before Economic Offence Court, Meerut on Wednesday and have been remanded for judicial custody till August 8, 2023.
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CGST Delhi busts input tax credit nexus of over Rs 50 cr; 1 held
Updated : 2 years, 10 months ago IST
Officials at the CGST Delhi West Commissionerate have busted a fake GST invoice nexus and found multiple firms accumulated ineligible 'input tax credit' of more than Rs 50 crores.
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Multi-state tax fraud syndicate involving Rs 1,047 cr busted, mastermind a
Updated : 2 years, 10 months ago IST
In a release, the Ministry of Finance said the syndicate was operating 569 fake firms and through them created huge fraudulent Input Tax Credit of Rs 1,047 crore.
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Senior official of Chinese smartphone maker arrested for ITC fraud of Rs 1
Updated : 3 years, 2 months ago IST
A senior official of a Chinese smartphone maker in Maharashtra's Thane was arrested on Wednesday for allegedly fraudulently availing input tax credit (ITC) worth Rs 19 crore through fake invoices, an official said.
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Delhi South CGST unearths fake invoicing racket involving tax evasion of R
Updated : 3 years, 2 months ago IST
The Central Goods and Service Tax (CGST) Delhi South Commissionerate has busted a racket of firms fraudulently claiming Input Tax Credit (ITC) of Rs 17 crore and arrested two people in connection with the matter.
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CGST arrests proprietor for illegally availing fake input tax credit of Rs
Updated : 3 years, 6 months ago IST
A team of officers of anti-evasion, CGST and Commissioner, Navi Mumbai, conducted enquiry against the firm. The firm had availed and utilised ITC of Rs 10.48 crore which has been received from bogus/fake entities on the strength of bogus invoices received and passed on the same
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Cygnet TaxTech launches Vendor Postbox, a root cause fix to maximize Input
Updated : 3 years, 7 months ago IST
Ahmedabad (Gujarat) [India], October 4 (ANI/PNN): Cygnet TaxTech, part of Cygnet Infotech has launched Vendor Postbox.
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