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Introduction: Duty Credit Scrip (DCS) is an incentive scheme which is an export promotion benefit offered by the Government of India under the Foreign Trade Policy (FTP) 2015. Under the FTP 2015-20, MEIS/SEIS/RoDTEP Schemes intends to incentivise exports of goods…
The proviso to Sec 16(2) of CGSTA denies ITC where the recipient ‘fails to pay’ to the suppler the amount towards the value of supply along with tax payable thereon within 180 days from the invoice date. There is an…
For some of the taxpayers, there was an issue in relation to duplicate entries in GSTR2B which has since been fixed and correct GSTR 2B has been generated. In this regard, taxpayers while filing GSTR3B are advised to check and…
The Punjab and Haryana High Court bench of Justices Tejinder Singh Dhindsa and Pankaj Jain has held that there should be reason to believe that the input tax credit available in the Electronic Credit Ledger was obtained fraudulently or that…
Several companies, including builders, are turning to dubious consultants to generate unaccounted cash by creating fake bills that provide input tax credit against payment of Goods and Services Tax (GST). These entities have now come under the scanner of the…
The Hon’ble Calcutta High Court in the case of SANCHITA KUNDU AND OTHERS vs. THE ASSISTANT COMMISSIONER OF STATE TAX AND OTHERS has ruled that the buyer is not responsible for non-payment of tax by the supplier. 05.05.2022.p.b.Sl. No.21. W.P.A.…
The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has detected a case wherein total ITC of more than Rs 160 crore has been utilized and passed on by network of nonexistent & fake firms in tandem…
Anti-Evasion Unit of Mumbai South CGST Commissionerate has arrested the co-conspirator in a case of M/s New Laxmilal & Co. (GSTIN 27ACAPS6257K1ZS) involving fake ITC of Rs. 11.07 Cr on the strength of bogus invoices of Rs 62.90 Cr, without…
In one of the cases, two accused were arrested on the ground that they were found actively involved in the racket of availing and utilizing fake/ fraudulent ITC under the name and style of a firm, by misusing the identity…
As a part of the special Anti-Evasion drive launched by CGST, Mumbai Zone against the fraudsters and tax evaders, CGST Commissionerate, Raigad has arrested a 29 year old man, who actively connived in creation of more than 15 sham firms,…