- 28 Jun 2023 05:46 PM
- New
Tata Sons challenges ₹1,500 cr tax claim on Docomo loan payment: Report
Tata Sons challenges a ₹1,500 crore tax claim settlement on defunct Docomo telecom, arguing that GST is not liable for liquidity damages. The case is ongoing.
Read More
- 28 Jun 2023 05:40 PM
- New
Grid scale battery storage may get a GST sweetener
The GST on lithium ion batteries used for utility or grid-scale power projects is18% and that on non-lithium ion batteries is 28%.
Read More
- 26 Jun 2023 05:16 PM
- New
HDFC Life Insurance share price falls on getting ₹942-crore GST demand notice
As per the company, the matter relates to the claiming of input tax credit against supply of services, which the Directorate of Goods and Services Tax (GST) Intelligence (DGGI) believes are ineligible for such claims.
Read More
- 26 Jun 2023 05:08 PM
HDFC Life’s FY24 may be dull but there are bright spots ahead
In FY23, a good 56% of individual annualized premium equivalent (APE) for the company was from the bank channel. Going ahead, it plans to increase the number of policies for improving APE growth.
Read More
- 24 Jun 2023 05:26 PM
HDFC Life faces ₹942 crore GST demand
Read Full Story
Mumbai: HDFC Life on Friday said that it has received a notice from tax authorities related to a demand for ₹942 crore towards Goods and Services Tax (GST) dues between July 2017 to FY22.
- 23 Jun 2023 05:29 PM
DGGI Gurugram Busts Major Fake Entities Racket, Preventing Rs. 1,124.66 Crore Tax Fraud
Source: https://taxguru.in/goods-and-service-tax/dgg-gurugram-busts-fake-entities-racket-tax-fraud.html
The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit recently conducted intelligence-based operations that exposed two major fraudulent activities. In the first instance, a large-scale racket comprising 539 fake entities was uncovered, which had fraudulently claimed Input Tax Credit (ITC) amounting to Rs. 1,124.66 crore. The second operation revealed a network of 19 fake entities involved in GST evasion amounting to Rs. 97.44 crore. Let’s delve into the details of these operations and their significant outcomes.
Read More
- 20 Jun 2023 05:21 PM
GST Council Newsletter for the month of May 2023
Source: https://taxguru.in/goods-and-service-tax/gst-council-newsletter-month-may-2023.html
₹1,57,090 crore gross GST revenue collected for May 2023; clocks 12% Year-on-Year growth
The gross Good & Services Tax (GST) revenue collected in the month of May, 2023 is ₹1,57,090 crore of which CGST is ₹28,411 crore, SGST is ₹35,828 crore, IGST is ₹81,363 crore (including ₹41,772 crore collected on import of goods) and cess is ₹11,489 crore (including ₹1,057 crore collected on import of goods).
- 19 Jun 2023 05:18 PM
Use technology to strengthen GST registration: FM to officials
The finance minister called for a nation-wide campaign to explain the objectives of the special drive to weed out fake entities
Read More
- 19 Jun 2023 05:35 PM
7 Recent recent updates on the GST portal – June 2023
Source: https://taxguru.in/goods-and-service-tax/recent-recent-updates-gst-portal-june-2023.html
The GST portal has introduced several new features and updates to enhance the user experience and streamline various processes. This article highlights the recent changes, including geocoding of the principal place of business, user ID generation for unregistered persons supplying to e-commerce operators, detailed reason for registration cancellation, AATO enablement, annual return filing, changes in Form GST APL-01, and updates to the amnesty scheme.
Read More
- 19 Jun 2023 05:39 PM
Crackdown on Fake Invoicing Racket in Scraps Trade: Mastermind Arrested for Issuing Fake Invoices Worth Rs.97.87 Crores
The Directorate General of GST Intelligence (DGGI) in Coimbatore, a law enforcement agency under the Ministry of Finance, conducted a search operation on 15th June 2023 targeting a mastermind and certain firms involved in a fake invoicing racket in the scraps trade. The operation aimed to uncover the issuance of fake invoices and the fraudulent availing of Input Tax Credit (ITC) without actual supply or receipt of goods.
Read More