Goods and Services Tax - WHAT IS A FAKE INVOICE? Though, Fake Invoice is not defined under Goods & Services Tax Act, 2017. But in general, Fake Invoice refers to an Invoice which does not comply with the provisions of the Act and Rules. In simple terms, When a registered person issues a Tax Invoice without actual supply of goods […]...
Read MoreGoods and Services Tax - Maharashtra Sales Tax Department has published ‘List of Suspicious Dealers, who have issued false bills, without delivery of goods. Such dealers have commonly referred as ‘hawala dealers’ The fact that the list purports to name only ‘Suspicious’ Dealers and not ‘confirmed hawala dealers’. ...
Read MoreGoods and Services Tax - Now-a-days Income Tax department investigates alleged trading/investment in shares and securities with collusion/connivance with any listed companies or with share broker by conducting Search/ Survey or by asking details u/s 133(6) of the Income Tax Act 1961....
Read MoreGoods and Services Tax - In a recent judgment, the High Court of Punjab & Haryana, in case of Abhishek Modgil Vs State of U.T. Chandigarh, dated June 12, 2020, granted anticipatory bail to 24 years young boy accused on account of committing an offence of tax evasion to the tune of Rs. 4,02,00,136 by generating bogus invoices of sales and […]...
Read MoreGoods and Services Tax - Surinder Jit Singh Chief Commissioner of Income Tax-3, New Delhi [email protected] Surinder Jit Singh is graduate in Mechanical Engineering from Punjab Engineering College in 1981 and joined Income Tax Department in 1984 as an IRS officer and has worked at Chandigarh, Ludhiana, Pune, Bombay, Amritsar and at Delhi in various capacities ...
Read MoreGoods and Services Tax - The Income Tax Department carried out a search and seizure operation on 25.08.2021 on a group based in Maharashtra and Goa. The group is a prominent steel manufacturer and trader of Pune, Nashik, Ahmednagar and Goa. More than 44 premises were covered in the search operation....
Read MoreGoods and Services Tax - An urgent meeting of the Law Committee of the Goods and Service Tax (GST) Council has been convened tomorrow in New Delhi to discuss in detail the issue of fake invoices to claim input tax credit under the indirect tax regime. The meet will deliberate on ways of further tightening of the GST registration process […]...
Read MoreGoods and Services Tax - Anti Evasion wing of CGST Delhi has detected a case of Input Tax credit fraud through fake invoices issued by bogus firms. Investigations led to discovering the accused had also been generating bogus e-way bills to back the fake invoices....
Read MoreGoods and Services Tax - irectorate General of GST Intelligence (DGGI), Gurugram Zonal Unit, Gurugram arrested Sh. Rajiv Gupta on 23.10.2019, partner in M/s RST Batteries, Mundka Delhi and Director of M/s RST Batteries Pvt. Ltd Bahadurgarh, Haryana for orchestrating a racket involving fake invoices valued at more than Rs 136 crores thereby defrauding the Governme...
Read MoreGoods and Services Tax - Chennai Zonal Unit of the Directorate General of Central Excise Intelligence Conducts Investigation under Summons Against 16 Insurance Companies Engaged in Providing Motor-Vehicle Insurance Policies, for Wrongly Availing Cenvat Credit to the Tune of Rs. 1200-2500 Crore on the Bogus Invoices of the Car Dealers....
Read MoreAshoka Buildcon Limited Vs ACIT (ITAT Pune) - Ashoka Buildcon Limited Vs ACIT (ITAT Pune) It is observed that the assessee allegedly purchased raw materials through the Hawala purchase bills and thereafter consumed the same in the power project In such a situation, it cannot be said that the entire amount of hawala purchase bills requires addit...
Read MoreRaman Sood Vs ITO (ITAT Delhi) - Raman Sood Vs ITO (ITAT Delhi) On being seen ledger account of the seller of the goods in the relevant Financial year it is noted that there are no credits appearing in the said ledger as being no purchases from the said seller. No purchases made from the seller during the AYr. Under consideration....
Read MoreSupertechforgings (India) Pvt.Ltd. Vs DCIT (ITAT Amritsar) - Supertechforgings (India) Pvt. Ltd. Vs DCIT (ITAT Amritsar) Conclusion: Additions made for alleged bogus purchase bills by AO was not justified as AO had not applied his mind to the information received from the Investigating Wing and he had not provided the opportunity to cross examine a person who...
Read MoreSupertech Forgings (India) Pvt. Ltd. Vs DCIT (ITAT Amritsar) - Supertech Forgings (India) Pvt. Ltd. Vs DCIT (ITAT Amritsar) No addition in respect of bogus Purchases can be made during the year under consideration No addition in respect of bogus Purchases can be made during the year under consideration where the purchases made from the same parties have been ac...
Read MoreShri Kamal H. Shah Vs ITO (ITAT Mumbai) - Shri Kamal H. Shah Vs ITO (ITAT Mumbai) Undisputedly, the assessee has failed to prove genuineness of purchases and the authenticity of the dealers in both the impugned assessment years. The notices sent to the dealers under section 133(6) of the Act on the addresses furnished by the assessee by the...
Read MoreD.O.No.77/CH(IC)/2020 - (05/07/2021) - On the GST front, by innovating and using the recently introduced `RFID-Vehicle related Report', an analysis of risky vehicles was undertaken by the officers of DGGI (SZU). The verification revealed that iron scrap was being supplied by existent but un-registered firms under the invoices for GST ITC...
Read MoreNA - (23/12/2020) - Measures recommended by GST Council to curb fake dealers/invoice rackets notified - In-Person Verification Must For GST Registration. Identification of bogus dealers through data analytics and suspension. Mandatory 1% GST payment for those risky dealers and fly-by-night operators who show unusual la...
Read MoreRelease ID: 1672299 - (12/11/2020) - Mumbai Zonal Unit of the Directorate General of GST Intelligence, CBIC has arrested Mr. Sunil Ratnakar Gutte, Director of M/s. Sunil Hitech Engineering Ltd., on charges of having fraudulently availed, utilized, as well as passed on fictitious Input Tax Credit, today, 12th November 2020....
Read MoreNA - (11/11/2019) - Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 11th November, 2019 PRESS RELEASE Income Tax Department busts a major racket of bogus billing & hawala transactions Income Tax Department carried out searches in the first week of November, 201...
Read MoreF.No.287/30/2014-IT (inv. II)-Vol-III - (16/03/2016) - Assessing Officer to ensure that information available in the 'Penny Stock' functionality which may be useful for the purpose of cases presently under scrutiny, is examined and considered while finalizing assessments and considering reopening of cases u/s 148 of the IT Act, 1961. ...
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Ashoka Buildcon Limited Vs ACIT (ITAT Pune) -
Raman Sood Vs ITO (ITAT Delhi) -
Supertechforgings (India) Pvt.Ltd. Vs DCIT (ITAT Amritsar) -
Supertech Forgings (India) Pvt. Ltd. Vs DCIT (ITAT Amritsar) -
Shri Kamal H. Shah Vs ITO (ITAT Mumbai) -
M/s. Vaghasiya Exports Vs Pr. CIT (ITAT Mumbai) -
D.O.No.77/CH(IC)/2020 - 05/07/2021
ACIT Vs Rishab Steel House (ITAT Mumbai) -