Gst Defaulters

LIC rises 5% on filing appeal against GST demand order of Rs 66 lakh

Life Insurance Corporation of India ("the Corporation") has filed an appeal with GST Appellate Authority, Jammu Kashmir against the order demanding GST of Rs. 66,69,251/- for FY 2019-20

Mere issuance of SCN not enough to cancel GST registration, rules Delhi HC

The court ruled that tax authorities are required to present clear and intelligible reasons and offer an opportunity for a personal hearing when seeking to cancel GST registration

Mahindra Holidays gets GST notice of Rs 16.77 cr for excess ITC utilisation

Mahindra Holidays & Resorts India on Wednesday said tax authorities have slapped a demand notice of about Rs 16.77 crore, including a penalty. "We wish to inform you that the company has received an Order dated August 13, 2024, from the Assistant Commissioner, Anna Salai, Chennai Central, Tamil Nadu," Mahindra Holidays & Resorts India Ltd said in a regulatory filing. The company is taking appropriate steps to pursue legal remedies before the appropriate authority in this regard, it added. "The Company has received an Order from the Authority for FY2019-20 requiring the Company to pay a demand of Rs 16,76,61,092 (including a penalty of Rs 88,81,479) under applicable provisions of the TN GST Act, 2017 & CGST Act, 2017. "The Order has been passed primarily on account of GST on Other Incomes, Reverse Charge Mechanism on Other Expenses, Excess utilisation of ITC, Reversal of ITC on exempt supplies, etc.," Mahindra Holidays & Resorts India Ltd said in the filing. The ...

GST intel unit detected over Rs 1.98 trn worth tax evasion cases in 2023

The GST intelligence unit detected tax evasion of more than Rs 1.98 lakh crore last year and arrested 140 masterminds who were involved in defrauding the exchequer, the finance ministry said on Thursday. In 2023, the Directorate General of GST Intelligence (DGGI) detected significant GST evasion in diverse sectors like online gaming, casinos, insurance and secondment (import of manpower services). "DGGI has achieved an increase in detection of cases of evasion and voluntary payments. In 2023, DGGI detected 6,323 cases involving evasion of duty of Rs 1,98,324 crore with a voluntary payment of Rs 28,362 crore. 140 masterminds involved in GST evasion were arrested," the ministry said in a statement. This is a significant improvement as compared to 2022 wherein 4,273 cases were detected, amounting to duty of Rs 90,499 crore, and voluntary payment of Rs 22,459 crore and 97 arrests were made. There was a 119 per cent increase in the year-on-year amount of duty evasion detected by DGGI an

GST officers use data analytics to identify missing link in supply chain

GST officers are using data analytics to ascertain if the entire supply chain in a particular sector is paying adequate GST or if there is a missing link, an official said. With GST evasion of over Rs 1 lakh crore detected in the last fiscal ended March 31, the Directorate General of GST Intelligence (DGGI) has stepped up efforts to catch evasion at the initial stage itself so that compliance improves. "We are using 'end-to-end' analytics for a sector and 'gap analysis' of the taxes paid in a supply chain to ascertain if the entire value chain is paying adequate GST or if there is a missing link," the official told PTI. The data analysis includes comparisons of the tax payment profile of a particular sector vis a vis the erstwhile excise and service tax regime. "Now that GST system has stabilised, the effort is to further streamline it. We want to ascertain if all the sectors which are covered under GST are paying their due share of taxes," an official said. After the analysis, if

Govt to issue notices to assessees failing to file GST returns

In July, the CBEC had asked its officers to go easy on taxpayers till the time the GST stabilised. It had asked them to avoid sending notices