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Central Goods and Services Tax (CGST) Commissionerate, Mumbai West Zone has busted a fake GST Input Tax Credit (ITC) racket and arrested the proprietor of a Malad based firm. The firm was involved in fraudulent availment and passing of Input Tax Credit (ITC) of Rs 15.23 Crore without receiving or supply of goods, in violation of the provisions of CGST Act, 2017.
Facts of the case, in brief, are that the appellants created several fictitious and physically non-existent trading company firms in Chhattisgarh, Jharkhand, Madhya Pradesh, West Bengal and Maharashtra, got them registered in GSTN portal online using identity credential of several persons using forged PAN and issued fake bills to transmit fake Income Tax Credit (ITC) to several other traders.
Vimal Yashwantgiri Goswami Vs State of Gujarat (Gujarat High Court) The details of the tax evasion of the respective accused arraigned in the complaint, reveal that the total tax evasion of the applicant’s Company Heugo Metal is shown as Rs.4,51,05,130/- which is less than 5 crores. It is further revealed that the tax liability of […]
CGST Commissionerate Mumbai South Arrests Co-conspirator in a Fake Input Tax Credit Claim of Rs. 11.07 Cr; Proprietor arrested earlier CGST Mumbai South Commissionerate has detected tax evasion of Rs. 876 Crores, recovered Rs. 14.4 Crores so far Anti-Evasion Unit of Mumbai South CGST Commissionerate has arrested the co-conspirator in a case of M/s New […]
GST Refund is only available if it is the case of zero rated supply or in case rate of tax on input is higher than the rate of output supply. The term used in the second case is Input and not Input services. This means, that by this section no refund of input services can be made when rate of of tax on input services is higher than the rate of tax on output supply of goods or services or both.
Unlocking the intricacies of Section 16(2)(aa) under CGST Act: Learn the critical conditions for availing Input Tax Credit (ITC). Explore the impact of the recent Finance Act, 2021 amendment and the significance of Rule 36(4).
On the Anti-Evasion side, on the basis of scrutiny of returns, Officers of CGST Delhi (South) Commissionerate detected a case of excess availment of Input Tax Credit amounting to more than Rs. 94 Crores. The entire amount has since been recovered. Kudos to the officers for their diligence.
This court, in the case of Heritage Lifestyles and Developers and Private Limited, a perusal of the said judgment indicates that the petitioner in that case was allowed to make such claim if the petitioner was otherwise eligible for credit of the amount. Considering those facts, this Court in the said judgment directed the respondents to accept the TRAN-1 filed by the petitioner and to give the due of input tax credit in the electronic credit ledger/input tax credit of the petitioner within two weeks from the date of the order.
Ahilya Chamber of Commerce & Industry has made a representation to Chairman of GST Council on GST Input Tax Credit Issues and requested that 4 criteria as originally prescribed in Section 16(4) of CGST Act, 2017 should be necessary for tax payer to avail credit of Input Tax and all other hindrances should be removed. […]
The applicant is already having the registration in the State of Telangana with GSTIN: 36AAACE5313K1ZS which will cover all taxable transactions. So there is no need to obtain registration in the state in which goods are imported if the said goods are directly sold from the port of importation to the customers located across different states in India.
