GOODS AND SERVICES TAX (GST)

24.10.2021

GST authorities arrest one in input tax credit fraud worth Rs. 91 cr from Thane.

The accused's firm was dealing in trading of asbestos, cotton yarn, sewing thread, etc. It had fraudulently taken credit of input tax showing the value of goods amounting to Rs. 503.80 crore

GST authorities have arrested an alleged mastermind from Thane in relation to input tax fraud worth Rs. 90.68 crore on Saturday. The accused has been remanded to judicial custody till November 5.

“In a major drive initiated against fraudsters who are availing and utilising fake input tax credit (ITC), Thane Central GST Commissionerate, Mumbai CGST Zone has arrested a mastermind who had opened a firm M/s. Doshi Marketing and was operating from Bhayander West. He has indulged in fraudulent availment and utilisation of input tax credit to the tune of Rs. 90.68 crore without receiving the goods or services in violation of the provisions of CGST Act 2017," read more »

15.10.2021

Punjab and Haryana high court orders CBI to probe ‘irresponsible’ & ‘casual’ attitude of customs, GST departments.

CHANDIGARH: Taking note of the "irresponsible" and “casual” attitude of Ludhiana based commissionerate of central customs department and Central Goods and Service Tax over the seizure of a container with around 39.6 lakh cigarette sticks, which were declared as scrap in the accompanying documents, the Punjab and Haryana high court has directed the CBI to probe the matter.

The agency has also been directed to fix the liability of the erring officials. The high court has directed that the preliminary investigation be conducted by an officer not below the rank of SP CBI and the report submitted within 30 days.

Though the officers of customs department as well as the CGST department derive their powers from the respective Customs Act, 1962, and the Central Goods and Services Act, 2017, and are part of premium investigating agencies, instead of fighting read more »

03.10.2021

Shah Rukh Khan's son Aryan Khan arrest : Aryan Khan, Arbaaz Merchant & Munmun Dhamecha taken to one-day NCB custody in drugs case; 5 more held.

NCB’s Sameer Wankhede on Aryan Khan case : We are investigating a drug peddler's links with the accused – Exclusive!

Shah Rukh Khan’s son Aryan Khan has been sent to one day custody with the Narcotics Control Bureau (NCB) after her was produced in court along with Arbaaz Merchant and Munmun Dhamecha. Following these developments, ETimes reached out to NCB, Zonal Director, Sameer Wankhede, who exclusively revealed the way forward for NCB’s investigation in the case, where they are exploring the links of the accused with a drug peddler.

Wankhede revealed, “We have apprehended one peddler from the supply chain of this group of youngsters, who had made a booking together for the event. We are investigating his links with the accused. That's been a new detention from our department. We found some drugs in his possession, too.”

read more »

01.10.2021

GST Revenue collection for September 2021 : Rs. 1,17,010 crore gross GST revenue collected in the month of September 2021.

The gross GST revenue collected in the month of September 2021 is
Rs. 1,17,010 crore of which CGST is ? 20,578 crore, SGST is Rs. 26,767 crore, IGST is Rs. 60,911 crore (including Rs.  29,555 crore collected on import of goods) and Cess is Rs.  8,754 crore (including Rs.  623 crore collected on import of goods).

The government has settled Rs.  28,812 crore to CGST and Rs.  24,140 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of September 2021 is Rs.  49,390 crore for CGST and Rs.  50,907 crore for the SGST.

The revenues for the month of September 2021 are 23% higher than the GST revenues in the same month last year. During the month, revenues from import read more »

27.09.2021

2 businessmen held in separate cases for GST fraud of Rs 17 crore.

The Central Goods and Service Tax and the Central Excise department arrested two businessmen in separate cases for fraudulently availing input tax credit (ITC) of Rs 17 crore.

CGST Mumbai unit arrested trader Ujwal Jain, a resident of Thakurdwar and director of SPN Gold India Pvt Ltd, engaged in wholesale of goldplated articles, jewellery of precious metals. SPN had availed inadmissible ITC amounting to Rs 7 crore on fake invoices issued by non-existing entities.

In the second case, CGST Bhiwandi unit, which was probing the fraudulent availment of Rs 10 crore in ITC, arrested Deep Himanshu Desai on Thursday. The CGST Bhiwandi commissionerate had earlier arrested Nisha Munjal (49), proprietor of Dixa Fabrics, Ekta Fabrics, and director of Ridgewood Industries and Pretty Woman Fashion Pvt Limited. The CGST and Central Excise Commissioner, Bhiwandi commissionerate, Sumit Kumar, said further investigation read more »

01.09.2021

GST Revenue collection for August 2021 - Rs. 1,12,020 crore of gross GST revenue collected in August.

The gross GST revenue collected in the month of August 2021 is ` 1,12,020 crore of which CGST is ` 20,522 crore, SGST is 26,605 crore, IGST is ` 56,247 crore (including ` 26,884 crore collected on import of goods) and Cess is ` 8,646 crore (including ` 646 crore collected on import of goods).

The government has settled ` 23,043 crore to CGST and ` 19,139 crore to SGST from IGST as regular settlement. In addition, Centre has also settled read more »

01.08.2021

GST Revenue collection for July 2021 – Rs. 1,16,393 crore gross GST revenue collected in July.

The gross GST revenue collected in the month of July 2021 is Rs. 1,16,393 crore of which CGST is Rs.  22,197 crore, SGST is Rs. 28,541 crore, IGST is Rs. 57,864 crore (including Rs.  27,900 crore collected on import of goods) and Cess is Rs. 7,790 crore (including Rs. 815 crore collected on import of goods). The above figure includes GST collection received from GSTR-3B returns filed between 1st July 2021 to 31st July 2021 as well as IGST and cess collected from imports for the same period.

The GST collection for the returns filed between 1st July to 5th July2021 of ? 4,937 crore had also been included in the GST collection in the press note for the month of June 2021 since taxpayers were given various relief measures in the form of waiver/reduction in interest on delayed return filing read more »

17.07.2021

Two Odisha businessmen arrested for Rs 115 crore GST fraud.

The accused had managed to pass bogus input tax credit with the help of fake firms they created using documents like PAN, Aadhaar, bank passbooks of plumbers, drivers and unemployed youth.

BHUBANESWAR:  A fortnight after the arrest of an iron scrap dealer for Rs 10 crore GST fraud, the State enforcement wing on Friday nabbed two businessmen for allegedly availing and passing bogus input tax credit (ITC) of Rs 115.1 crore by producing fake invoices of Rs 641 crore. The accused Managing partner of Tirupati Traders Gurdit Dang and Director of Smartageis Trade Venture Pvt Ltd of Rourkela Sujay Maitra are being interrogated. Dang was also an authorised representative of Satguru Metals and Power Pvt Ltd. 

While Dang was arrested from Rourkela, Maitra was nabbed in Bhubaneswar. The fraudulent activities came to fore during an investigation made on a complaint filed read more »

07.07.2021

IRS Tanya Bains made highest arrests of GST fraudsters in country.

CGST DC also detected Rs 1,600-crore fake invoices, causing Rs 192-cr loss; bagged national honour

Ludhiana, July 5 : A 2016-batch Indian Revenue Service (IRS) officer of the Central Goods and Service Tax (CGST) Commissionerate in Ludhiana has been credited with making the highest number of arrests in the GST fraud cases in the country.

This young woman Deputy Commissioner of the anti-evasion wing, Tanya Bains, has arrested 18 fraudsters in six cases of fake invoices worth Rs 1599.91 crore in which the state exchequer had suffered a loss of Rs 191.94 crore.

Acknowledging her exceptional contribution and promotion of excellence in the GST-related matters, she was awarded the commendation certificate by Union Finance Minister Nirmala Sitharaman recently. She was the only officer from the entire Chandigarh zone, comprising Chandigarh, Punjab, Himachal Pradesh and Jammu and Kashmir, read more »

05.06.2021

GST revenue collection for May touches Rs 1.02 lakh crore, 65% higher compared to 2020.

Gross GST revenue collected in May of this year was higher than Rs 1 lakh crore for the eighth month in a row, according to data released by the government.

HIGHLIGHTS

·        GST collection declined in May compared to Rs 1.41 lakh crore in April

·        IGST collected in the month of May 2021 has been pegged at Rs 53,199 crore

·        Smaller taxpayers with turnover less than Rs 5 crore still have time till first week of July to file returns

GST revenue collection for the month of May, 2021, touched Rs 1,02,709 crore. Data released on Saturday shows that this was the eighth month in a read more »