Income Tax : This article explains how provisions of the Income Tax Act, GAAR, and the Benami law are used to tackle shell companies, unexplain...
Income Tax : The Supreme Court clarified that tax planning is valid only when backed by real commercial substance. It held that artificial stru...
Goods and Services Tax : The rise of AI-generated influencers and synthetic commercial actors is testing identity-based tax systems. The article explains h...
Income Tax : Courts distinguish lawful tax planning from criminal concealment. Recent rulings stress commercial substance and strict penalties ...
Income Tax : Indian law permits legitimate tax planning but strictly penalises concealment and fraud. Courts distinguish lawful avoidance from ...
Goods and Services Tax : The Delhi South CGST Commissionerate has arrested a key person linked to three firms for allegedly evading ₹16.30 crore in GST t...
CA, CS, CMA : Over ₹6.34 lakh crore in unpaid taxes linked to untraceable defaulters. Govt takes measures like asset tracking and account free...
Goods and Services Tax : DGGI blocks 357 illegal gaming websites, freezes Rs. 126 crore across 2,400 accounts, and cautions public against offshore online ...
CA, CS, CMA : Government surveys tax evasion, improves services, and details state-wise tax collections, highlighting growth in direct and indir...
Goods and Services Tax : Details of GST evasion cases by cryptocurrency exchanges in India, including investigations and actions taken by the Government of...
Income Tax : Delhi High Court ruled that prosecution under Income Tax Act Sections 276C and 278E can proceed when evaded tax exceeds Rs.25 cror...
Goods and Services Tax : The Court held that with investigation complete and evidence being documentary, continued custody was unnecessary. Bail was grante...
Goods and Services Tax : High Court directs authorities to investigate sale of frozen chicken at 0% GST instead of 5%, ensuring enforcement action against ...
Goods and Services Tax : Alipurduar Court rejects Naresh Kumar Agarwala's pre-arrest bail plea in ₹17 crore cement smuggling case, citing serious allegat...
Goods and Services Tax : Andhra Pradesh HC allows petitioners summoned in GST evasion probe to have advocate present during examination, citing apprehensio...
Goods and Services Tax : CGST, Vadodara, upon intelligence developed through data analysis, have booked a case of issuance of fake invoices valued at Rs. ...
Goods and Services Tax : DGGI arrested a managing Director (MD) of a company Following intelligence developed by the officers that fake invoices were recei...
Goods and Services Tax : The officers of Daman Cornmssionerate have detected a case of default in GST payment against Mrs Radha Madhav Corporation Limited ...
Goods and Services Tax : The registration procedure under Goods and Services Tax Act is simplified with the objective of ease of doing business. After onli...
Excise Duty : Circular No. 1009/16/2015-CX Whoever commits any of the offences specified under sub-section (1) of Section 9 of the Central Exci...
The officers of Daman Cornmssionerate have detected a case of default in GST payment against Mrs Radha Madhav Corporation Limited which had stepped filing return since August 2018 and there was a noticeable difference in declared ilatlity in two returns prescribed in CGST Act,2017 namely GSTR-1 and in GSTR-3B worth Rs. 67 Ccores
Investigation in 3626 cases of GST evasion/violations has been initiated in the present financial year by CGST (Central GST) formations (up to December, 2018). On the basis of investigation conducted so far it emerges that the amount of tax involved in these 3626 evasion/violations cases as mentioned in part(a) above is estimated to be Rs. 15278.18 crore (up to December, 2018)
GSTN has started sharing data with tax authorities on the following: a.Mis-match between figures reported in GSTR-1 & GSTR-3B. b.Mis-match between figures reported GSTR-3B &that computed by the system in GSTR-2A. c.Taxpayers who have generated e-way bill but not filed tax returns.
The Anti Evasion wing of CGST Thane Commissionerate, Mumbai arrested three persons on 05.09.2018 for issuing bogus invoices worth hundreds of crores to avail fraudulent input tax credit (ITC) amounting to Rs. 60 Crore (Approx).
Abstract As we all are well aware of the term ‘Tax’ which is defined as a revenue that is levied on the people by the Government based on their income and the commodities they purchase or sell. Evasion of Tax has always been considered to be an illegal action and people with greed often engage […]
The registration procedure under Goods and Services Tax Act is simplified with the objective of ease of doing business. After online application, the applicant is deemed registered within 3 days. Therefore, since Oct 2017 in every Quarterly Performance Report, it has been specifically instructed to field officers to verify the new registrations in their respective jurisdiction.
The concept of Deemed Dividend under the Income-tax Act, 1961 (the Act) is not new. However, time and again many closely held company assessees and their controlling shareholders, to their surprise and dismay, realise very late the importance of this powerful taxing tool in the hands of the Assessing Officer.
Tax Evasion in Post-GST Regime The number of cases of Tax Evasion reported post-GST regime are given in Table below: Period Detection No. of cases Amount in Crore July 2017 to June 2018 1205 3026.55 The nature of cases include misuse of Input Tax Credit, mis-declaration in the GST Returns, tax declared in GST Returns […]
Central Tax, GST Delhi East Commissionerate arrested a Shahdara based father son-duo on 22.05.2018 in case of fraudulent issuance of Input Tax Credit invoices involving evasion of approximately Rs. 28 Crores relating to Copper industry. It is the first case of arrest in Delhi, under the new tax regime that came into force on 1st July, 2017.
Under-reporting income or inflating deductions/exemptions in income tax return can attract heavy penalties ranging from 50% to 200% of tax evaded, say experts. An advisory issued by the income tax department has warned salaried tax payers against trying to evade tax by indulging in these malpractices and pointed out that these would attract penalties as per law.
