A Mehsana man applied for a loan to start a garment business, but scammers misused his papers — stitching up for him a Rs 72 lakh GST bill for the business he had not even started.
Ever since the Goods and Services Tax (GST) regime was rolled out in July 2017, fake billing scams have continued to drain government coffers in Gujarat. The data of the state commercial tax department suggests that state GST officials have detected fake billing transactions to the tune of Rs 32,310 crore in Gujarat till December 2021.
India's tax laws are rather complex and for simple tax calculations too one has to do two computations to figure out which method of taxation works better.
The state GST (SGST) department on Sunday caught Sanjay Patel, a director in the APMC at Unjha, from Mount Abu. Patel is named as the prime accused in the bogus billing scam in which tax evasion of Rs 6.31 crore was reported by the department.
After extensive raids conducted in Bhavnagar, Ahmedabad and Gandhidham, by the enforcement wing of the state goods and services tax (SGST) department on Thursday, a fake billing scam of Rs 513 crore was unearthed.
The past week in Ludhiana has turned out to be perfect Diwali week for both central GST (CGST) commissionerate, and state GST (SGST) department here as in just a span of three days both departments managed to unearth bogus billing totalling over a whopping Rs 760 crore involving forged input tax credit (ITC) claims of Rs 74 crore.
Upbeat high-frequency indicators and consumer confidence show that Indian economy continues to forge ahead, emerging out of shackles of pandemic, said an article on the state of economy published in RBI Bulletin on Wednesday.
The Punjab excise and taxation department claims to have busted a bogus GST billing scam worth Rs 60 crore with the arrest of Khanauri-based Ganpati Motor store proprietor Subhash Chander on Thursday
The Guntur CGST Commissionerate, Vijayawada and Amaravati CGST divisions, organised an interactive session on GST Stakeholder Feedback Diwas, in association with the Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers), in Vijayawada on Saturday.
The state GST department has busted a network of firms engaged in the issuance of fake invoices and passing of bogus input tax credit to various firms in Punjab, causing losses to the state exchequer.
The state GST department has busted a network of firms engaged in the issuance of fake invoices and passing the bogus input tax credit to various firms in Punjab causing losses to the state exchequer.
PM Modi, his cabinet colleagues and major company executives have gathered at Parliament's central hall to launch the most sweeping tax reform since Independence. Here are the event highlights:
Officers of directorate general of GST Intelligence (Hyderabad zone) arrested two businessmen who were running firms involved in fake invoices racket.