The Indian Government implemented Goods and Services tax scheme on July 1, 2017 to the entire country, leading to the creation of unified tax regime and reduding the cascading effects of different taxes imposed on the businesses.
Surat: The economic offences wing (EFW) of Surat police has nabbed two persons who had bought bogus firms to take illegal advantage of input tax credi.
The introduction of faceless scrutiny assessment for Goods and Services Tax (GST) returns may be delayed, according to a senior official. This system involves no direct interaction or physical document submission between tax officers and assesses. Initially introduced by the Income Tax department, it was later extended to Customs.
New Delhi, Nov 6 (IANS) The Directorate General of Goods and Services Tax Intelligence (DGGI), Meerut Zonal Unit, has busted a large-scale racket involving fake invoicing to the tune of a whopping Rs 1,481 crore, resulting in passing on of fraudulent input tax credit to the tune of Rs 275 crore.
The Centre is planning multi-agency action involving the Enforcement Directorate, Finance Ministry, intelligence agencies and state police forces to investigate a mammoth GST fraud unearthed by the Noida Police, News18 has learnt.