GOODS AND SERVICES TAX (GST)

19.04.2021

Byju’s parent company comes under the scanner of GST intelligence wing for alleged Tax Evasion of Rs. 43 crores.

The Think & Learn Private Limited (TLPL), the parent of Bengaluru-based Byju’s, reportedly has come under the scanner of the GST intelligence wing for alleged tax Evasion of Rs. 43 crores.

The Byju’s faces two cases for alleged tax evasion of around Rs 43 crore and has been asked to respond to show-cause notices detailing the alleged violations.

On December 31, 2020, the GST department sent show-cause notices to the company in connection with both the cases it has opened.

As per the show cause notices TLPL had manufactured and cleared excisable goods SD cards and Tablets without disclosing the same to the department by way of written intimation and without assessing and paying the appropriate amount of Central Excise duty on the said goods and thereby they have contravened the provision of the Central read more »

19.04.2021

Realtime data on vehicle moving without EWB.

The government is working on a system to soon provide report to GST officers on a real-time basis for those vehicles which are moving without e-way bills, to help intercept stuck trucks at toll plazas and check GST evasion.

The tax officers would also be provided analysis reports on identifying e-way bill EWB with no movement of goods as it would help officials identifying cases of circular trading. It would also provide reports on recycling of e-way bills for tax evasion prone commodities to help officers in identifying tax evaders.

Under the Goods and Services Tax (GST) regime, e-way bills have been made mandatory for inter-state transportation of goods valued over Rs 50,000 from April 2018. However, gold is exempted.

In the electronic way (e-way) bill system, businesses and transporters read more »

10.04.2021

Central GST Commissionerate, Ghaziabad Arrests One Person in Case of GST Fraud of Rs.101 Crores Involving 44 Firms and Availment/Utilization of Fraudulent Input Tax Credit of Rs. 14.25 Crores (Approx.).

Officers of CGST Commissionerate, Ghaziabad, on the basis of specific intelligence, conducted a series of searches on 23.03.2021 at 16 places located al Ghaziabad, Gautambudh Nagar, and Delhi related to M/s Vishal Steel Suppliers and his supplier firms.

This led to unearthing of GST fraud involving taxable value of Rs. 101.33 Crores (approx.) and availment and utilization of fake Input Tax Credit (ITC) of Rs. 14.25 Crores (approx.) involving more than 44 firms. Further, investigation are still underway and the quantum of fraud and number of firms involved are likely to go up.

During search on 23.03.2021, proprietor Sh. Vishal Khandelwal was not found available at his residence and place of business. Therefore, summons were issued to him for appearance. In compliance of Summons, Sh Vishal Khandelwal, proprietor of M/s Vishal Steel Suppliers appeared in the office on 08.04.2021 read more »

27.03.2021

CGST West Delhi officials arrest man for input tax credit fraud of around Rs 9 crore.

Based upon specific intelligence, the officers of the Anti Evasion branch of Central Goods and Service Tax (CGST) Commissionerate, Delhi (West) have unearthed a case of availment/utilization and passing on of inadmissible input tax credit (ITC) through goods less invoices of Rs 9 crore (approx). The operation involved floating of multiple firms with the intent to avail/utilize & passing on of inadmissible credit.

The primary beneficiary firms in this network are M/s Ishita Ispat and M/s H. M. Trading Company of which Sh. Naveen Bansal is the Proprietor and also the de facto operator for the other two firms as admitted by him on record. These entities are dealing in metal scrap and involved in availing inadmissible ITC using good less invoices. Sh. Naveen Bansal tendered a voluntary statement admitting his guilt.

Therefore, Sh. Naveen Bansal knowingly committed offences under Section read more »

26.03.2021

Court grants bail to two arrested for defrauding govt exchequer.

New Delhi : A local Court on Thursday granted bail to two individuals arrested by the Central Goods and Services Tax (CGST) East Delhi Commissionerate on charges of generating and availing fake Input Tax Credit (ITC) of the GST.

Naresh Dhoundiyal and Devender Kumar Goyal (a chartered account) were arrested earlier this month by the CGST East Delhi Commission. Both the accused are former employees of the Essel group.

28.02.2021

Know how GST department tracking fake invoices using smart technology.

For the past 9-10 months the COVID 19 pandemic had forced India into a lockdown. Most of the countries small businesses which relied on physical availability of customers have had the most hit. Small business revenues have plunged everywhere. Nevertheless, tax evaders have proved to be an exception to this rule, who no matter what the situation persists, find a way to evade tax. In the last one month, the Directorate General of Goods and Services Tax Intelligence (DGGSTI) arrested over 100 people and booked 3,479 entities in 1,161 cases for illegally availing or passing on input tax credit (ITC) by using fake GST invoices, and causing loss to the exchequer. Further investigations in these cases unravelled the network and multiple chains of fake invoices’ benefactors and, also, to ascertain the exact amount of tax evasion and usurpation by these fake entities and fraudsters. Use of fake invoices read more »

23.02.2021

Rs. 15 crore worth mobile phones, watches, gold seized by Mumbai Customs.

A team from Indian Customs seized high-end mobile phones and other undeclared goods worth Rs. 15 crore over the weekend which were being smuggled through the postal service

A total of around 180gm of gold, 1,470 mobile phones, 322 smart-watches, 64 drones, 41 Bluetooth earphones, 391 cigarette sleeves and 36 auto parts, collectively worth around Rs. 15 crore were seized by the Customs officers. (REUTERS)

Rs. 15 crore worth mobile phones, watches, gold seized by Mumbai Customs

A team from Indian Customs seized high-end mobile phones and other undeclared goods worth Rs. 15 crore over the weekend which were being smuggled through the postal service

A team from Indian Customs seized high-end mobile phones and other undeclared goods worth Rs. 15 crore over the weekend which were being smuggled through the postal service.

read more »

19.02.2021

DGGI assures HC of action against guilty officers.

HC was hearing 4 pleas, one of which said a trader had attempted suicide due to harassment by DGGI officials.

A top officer of the Directorate General of GST Intelligence (DGGI) has assured the Gujarat High Court that an inquiry will be initiated against officers in his department over allegations of harassment.

He has also stated that such incident will not happen again. The court directed the department to conduct search proceedings strictly in accordance with law.

The court was hearing four petitions, including one by the owner of Bhumi associates filed through his advocate Dr Avinash Poddar and alleging harassment meted out by the officials of DGGI. In one of the cases, it was alleged that a trader had attempted suicide due the harassment of the officials of the DGGI unit in Surat.

On read more »

12.02.2021

GST Fraud: Meerut Court refuses to grant Bail to person accused of wrongfully availing ITC.

The bail applicant, Vinod Kumar has been alleged to have committed the offense under Section 132(1)(b) 132 (1)(c) read with Section 132 (1)(i) of the Central Goods and Services Tax Act at the Police Station of Directorate General of Goods and Service Tax Intelligence (DGGI).

The counsel for the applicant submitted that the entire case of respondent and investigating agency are based on the documents i.e GST/returns and no purpose would be served by keeping the applicant in jail.

The applicant further urged that the basic rule of the criminal justice system is “bail, no Jail”. The arresting of the applicant is a clear violation of Section 69(2) of the CGST Act thus the custody of the applicant without jurisdiction.

It was further argued that in the present matter the department has contravened the provisions of read more »

01.02.2021

Budget 2021 Highlights.

Budget 2021 Highlights : 

Vehicle voluntary scrapping policy 

Vehicles to undergo fitness tests at automated centres 

20 years for private passenger vehicles and 15 years for commercial vehicles 

35ooo crores to be allocated for Covid vaccines 

7 textile parks to be established over 3 years 

National infra pipeline expanded to 7400 projects 

1.1 lac crores projects completed under national infra pipeline 

Will introduce bill to set up DFI, providing 20ooo crores capital for the same 

Highways with EV of 5000 crores being transferred to NHAI Invet

To launch national assets scheme 

To provide 2 lac crores to states and autonomous bodies for capex 

11000 kms of national highway 

More read more »