Page 2 - Gst Evasion

Shell cos to fake invoice: How firms trying to evade GST are getting caught

DGGI has unearthed number of modus operandi by which tax evasion has been done in the recent past

GST evasion involving 10 fictitious firms detected; 1 held in Gujarat

A businessman has been arrested from Ahmedabad for allegedly availing fake input tax credit (ITC) to the tune of Rs 7.22 crore after the Central Goods and Services Tax commissionerate unearthed evasion of Rs 36.95 crore in GST involving ten non-existent firms, the CGST commissionerate here said on Wednesday. The preventive wing of CGST Ahmedabad south commissionerate found "a web of non-existent firms involved in passing of fake input tax credit by routing the invoices through a series of firms". During investigation, GST (Goods and Services Tax) evasion of Rs 36.95 crore having a taxable value of Rs 205.27 crore involving ten fictitious firms was unearthed, the CGST commissionerate of Ahmedabad south said in a release. The proprietor of one Ashapura Traders, Vihol Viramji, was arrested on May 29 for availing and utilising fake input tax credit to the tune of Rs 7.22 crore. He was produced before a metropolitan court here which sent him to judicial custody till June 13, stated the .

GST evasion detection nearly doubles to Rs 1.01 trillion in FY23

GST evasion detection by tax officers almost doubled year-on-year to over Rs 1.01 lakh crore in the just concluded 2022-23 fiscal, an official said. During the last fiscal, a recovery of Rs 21,000 crore was made by the officers of the Directorate General of GST Intelligence (DGGI). The official said the government is taking steps to increase compliance and using data analytics and human intelligence to identify fraud. "DGGI officers have detected evasion to the tune of Rs 1,01,300 crore in 2022-23. Of this, recovery of Rs 21,000 crore have been made," the official told PTI. In 2021-22, DGGI, the investigative agency under the Goods and Services Tax (GST) regime, detected evasion of over Rs 54,000 crore and made a tax recovery of over Rs 21,000 crore. The total number of Goods and Services Tax (GST) evasion cases has gone up this fiscal with about 14,000 cases detected in 2022-23, up from 12,574 cases in 2021-22 and 12,596 cases in 2020-21. The modus operandi adopted by fraudsters

CBIC detects Rs 62K-crore GST evasion via fake invoices during past 3 years

1030 people have been arrested by tax authorities since 2020

GST evasion of Rs 23,000 cr by gaming firms being investigated: MoS to LS

GST evasion of about Rs 23,000 crore by gaming companies between April 2019 and November 2022 is being investigated by the tax officers, Minister of State for Finance Pankaj Chaudhary said on Monday. In a written reply to a question in the Lok Sabha, the minister said the Enforcement Directorate has attached proceeds of crime of more than Rs 1,000 crore in several cases related to Cyber and Crypto assets frauds wherein online gaming etc have been used for siphoning the proceeds. About evasion of Goods and Services Tax (GST), Chaudhary said Central Board of Indirect Taxes and Customs (CBIC) formations have initiated investigations against some gaming companies (including online gaming firms) located in India as well as abroad. "The estimated evasion of GST by these companies works out of Rs 22,936 crore, relating to the period April 2019 to Nov. 2022," he said. Besides, the Directorate of Enforcement is investigating several cases related to Cyber and Crypto assets frauds wherein ..

HC asks GST dept to drop notices against firm facing audit proceedings

Calcutta High Court says not clear how parallel proceedings can be conducted by three wings of same department

Top headlines: Celebs under scanner for GST evasion, Meta lays off 11,000

Business Standard brings you the top headlines this hour

Top Bollywood celebrities under CBIC scanner over alleged GST evasion

Face charge of incorrect declaration to dodge tax

GST authorities issuing SCN will have to complete enforcement action

Tax authorities issuing show-cause notices will have to complete all enforcement and consequential action against the assessee against whom GST evasion was detected, the GST Council has said. Under the GST regime, states administer and control 90 per cent of the assessees with an annual turnover of up to Rs 1.5 crore. Assessees with an annual turnover of over Rs 1.5 crore are administered by the Centre and state tax authorities in 50:50 ratio on computer-based random sampling. In order to resolve the jurisdictional issues while dealing with enforcement cases, the GST Council has clarified that the tax authorities, whether Centre or state, which initiates the enforcement action will be responsible for completing all consequential actions like appeal, review, adjudication. The GST Council Secretariat, in an office memorandum, said that varied practices are being followed by the field formations regarding the issuance of recurring Show Cause Notices (SCNs) as well as other consequenti

Crackdown on urea diversion to plug Rs 6,000-crore subsidy leakage

In the last two-and-a-half months, the government has identified leakages worth Rs 100 crore through various covert operations

GST collection rises to an all-time high of Rs 1.42 trillion in March

The robust mop-up could be attributed to the government's tightened compliance measures and crackdown on GST evaders and fake bills

What does a GST probe against exchanges mean for crypto taxation?

The Directorate General of GST Intelligence recently launched a probe over alleged GST evasion against crypto exchanges. Will this nudge the govt to put a regulatory framework for cryptocurrencies?

Ministerial panels to review GST exempt list, identify evasion sources

The Finance Ministry has set up two committees of state finance ministers who would review current tax slabs and GST exempt items, identify potential evasion sources and suggest changes in IT systems. The Group of Ministers (GoM) on rate rationalisation would also review inverted duty structure, recommend rationalisation measures, including merger of tax rate slabs. The 7-member panel, which would submit a report in two months, would be headed by Karnataka Chief Minister Basavaraj Bommai and include West Bengal Finance Minister Amit Mitra, Kerala Finance Minister K N Balagopal, Bihar Deputy Chief Minister Tarkishore Prasad. It would also review the supply of goods and services exempt under Goods and Services Tax with an objective to expand the tax base and eliminate breaking of ITC chain. The GoM on GST system reforms would identify potential sources of evasion and suggest changes in business processes and IT systems to plug revenue leakage. The eight-member panel, headed by ...

DGGI detects Rs 278 crore GST evasion in railway purchases since July 2017

Probe relates to wrong classification of rail supplies by bidders from July 2017 to June 2021

GST evasion by winning bidders: Rly purchases since July '17 face enquiry

DGGI decision relates to misclassification of supplies

GST e-invoicing mandatory for turnover of Rs 50 cr and above from April 1

The government had earlier planned to extend e-invoicing to all entities from April 1, 2021, but has refrained, taking care of interest of small entities

Government launches massive crackdown on 7,000 GST evaders, 185 arrested

The government netted a record GST collection of Rs 1.15 lakh crore in December 2020, helped by the action against tax evaders alongside pick up in the economy

GST officials detect over Rs 830 cr tax evasion by Delhi pan-masala unit

Central GST authorities have detected a tax evasion of over Rs 830 crore by an illegal pan-masala manufacturing unit here and arrested a person for his involvement, according to an official statement

Curbing GST evasion: E-invoicing has a long way to go, say experts

The Centre will extend it to companies with at least a Rs 100-crore turnover in January and for all companies in April next year for B2B transactions.

Finance Secy, CBIC head discuss measures to check GST evasion, revenue leak

The meeting discussed the need for coordinated action to check revenue leakage