GST
CGST Ludhiana unearths Rs 260 crore fake billing scam in iron, steel sector; 2 arrested
Based on specific intelligence, the officers of Central Goods & Services Tax Commissionerate, Ludhiana, conducted multiple search operations at Mandi Gobindgarh unearthing a syndicate involved in availing and passing on fake Input Tax Credit (ITC) in the iron and steel sector using five firms.
Rs 7 Lakh Crore GST Evaded In Last Five Years
The government on Monday said that central goods and services tax (GST) field officers have detected tax evasion of about Rs 7.08 lakh crore in the last five years till 2024-25 fiscal, including input tax credit (ITC) fraud of about Rs 1.79 lakh crore. However, it was found that there was over Rs 2.23 lakh crore of GST evasion in 2024-25 fiscal alone.
Bizman arrested for Rs. 34 cr GST Scam
The investigation branch of the Maharashtra State GST Department in Nagpur arrested one Mahesh Keshwani, proprietor of M/s K&K Brothers, for allegedly availing and passing fraudulent Input Tax Credit (ITC) worth Rs. 33.93 crore. The firm, registered under the MGST Act, 2017, was found claiming ITC without actual procurement or movement of goods, sourcing credits from registration-cancelled suppliers.
Income tax
Returns and Forms Applicable for Salaried Individuals for AY 2025-26
Detailed insight on the types of Returns and Forms Applicable for Salaried Individuals for AY 2025-26 along with the types of deductions available. Income tax slab is also given.
Section 87A Rebate – Restriction applied even before it became law?
CA Abhas Halakhandi posted in X (twitter) a social media platform about the Section 87A Rebate.
I-T dept selects LTIMindtree to build PAN 2.0 for faster, unified services
The Income Tax Department has selected IT firm LTIMindtree Ltd to implement the PAN 2.0 project, which is expected to go live within 18 months, an official said on Monday.
Customs
Man held at Mumbai airport with marijuana worth Rs 14.73 cr concealed in ‘diplomatic’ cargo
The officials said that the Mumbai Customs has arrested a traveller at the international airport here for allegedly trying to smuggle 15 kg of hydroponic weed with an estimated value of Rs 14.73 crore, reported news agency PTI.
CBI arrests Customs officer for ₹10.2 lakh bribe in cargo clearance case
The Central Bureau of Investigation (CBI) has arrested a Customs superintendent for allegedly demanding and accepting a bribe of ₹10.2 lakh from a customs house agent (CHA) in exchange for clearing consignments at a port.
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