Goods and Services Tax : Learn about the CBIC Guidelines and requirements for grant of reward to informers for smuggling and evasion of duties and taxes un...
Income Tax : Explore the differences between tax planning, tax evasion, and tax avoidance. Understand how tax planning legally optimizes tax li...
Income Tax : माननीय सुप्रीम कोर्ट ने इनकम टैक्स की संशोधित धा...
Income Tax : हाल में ही सरकार ने जीएसटी में एक महत्वपूर्ण बदला...
Income Tax : ILLIQUID STOCK TRADING AND TAX EVASION 1. The ‘scam’ So a new scam beckons us. That of allegedly executing fraudulent trad...
Goods and Services Tax : DGGI reveals over 6,000 fake ITC cases, ₹57,000 Cr GST evasion, and 500 arrests from April 2020 to September 2023. Explore the f...
Goods and Services Tax : We need to better utilize AI, data-analytics, IoT and other technologies to identify fraudulent practices, such as detection of ta...
Goods and Services Tax : Centralized suspension of registrations pertaining to registered persons who default in timely filing of returns is being carried ...
Custom Duty : DRI detects Customs duty evasion of Rs. 2,217 crore by M/s. Vivo Mobile India Pvt. Ltd. During an investigation pertaining to M/s ...
Goods and Services Tax : Navi Mumbai CGST Commissionerate busts Rs. 70 Crores Fake GST Input Tax Credit (ITC) Racket The officers of Navi Mumbai CGST Commi...
Goods and Services Tax : Saurabh Jindal & Yashik Jindal Vs Union Of India (Rajasthan High Court) In a significant legal development, the Rajasthan High...
Custom Duty : Explore the detailed analysis of the judgment in Babulal Qazi vs Union of India by Rajasthan High Court. Learn about the legal int...
Goods and Services Tax : Explore the full text of the Rajasthan High Court judgment on Mohammad Shadab Kadris bail application amid GST Act violations. Leg...
Goods and Services Tax : Explore the detailed analysis of the bail granted to Mohammed Ali Akram Khan vs Union of India by Rajasthan High Court. Learn abou...
Income Tax : Since the penalty was reduced from 300% to 100% of the tax sought to be evaded, assessee was entitled to the benefit of Section 27...
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...
Individuals who tip-off the government on tax evaders can get to keep up to 20 per cent of the sum recovered, the government informed Parliament. There are guidelines for ‘Grant of Awards’ to informants who provide information on tax evasion,” Minister of State for Finance S S Palanimanickam informed the Lok Sabha on Friday.
While the government is lobbying hard with Opposition parties to implement Goods and Services Tax (GST) from April next year, a study carried out to assess the current tax base in states and the compliance level could upset its gameplan. The study revealed rampant evasion to the extent of 50% in half of the 23 states where tax audits were carried out.
The sources said the alleged duty evasion in import of raw materials for production of copper products was detected during a raid in the factory premises here for the past two days. They said Varadharajan has been remanded to 15 days judicial custody.
In its petition, the income tax department said the ITAT has wrongly deleted the penalty imposed by it on Nokia India for allegedly wrongly declaring its income. The government on Wednesday approached the Delhi high court challenging an order of the Income Tax Appellate Tribunal (ITAT) that gave relief to mobile phone maker giant Nokia in a case of alleged tax evasion.
A joint team of officers of customs, central excise and service tax from commissionerates of Lucknow, Kanpur and Allahabad along with officers of income tax raided the premises of certain commercial coachings and security agencies and carried out search and seizure operations recently and detected evasion of service tax to the tune of more than Rs 1 crore.
The Department of Telecommunication (DoT) has given an ultimatum to the auditors of three telecom majors — Vodafone Essar, Idea Cellular and Bharti Airtel — to submit their final reports to the government by February 7. They are conducting a special audit into allegations of tax evasion.
Dismissing the notion that Mauritius is a tax haven, the island nation’s Vice Prime Minister Ramakrishna Sithanen on Tuesday said he has not received any complaints from India about routing investments via his country to evade taxes. However, Sithanen, who is also the finance and economic development minister, promised to cooperate with Indian authorities to check tax evasion in case of complaints, but added his country would not welcome ‘fishing expeditions’.
The Finance Ministry has overhauled its Income Tax intelligence wing in order to speed up investigation of high value cases of Rs 10 lakhs and above and stop new methods of tax evasion. Commissioners of Income Tax (CITs) of the Central Information Branch (CIB) will now report to the intelligence wing headquartered in the national capital.
Income tax evaders are being pushed into an increasingly tight corner – the I-T department is planning restructuring that will help assessing officers spend more time on an assessee than they do now. Currently in Mumbai, an assessing officer, the individual who actually detects tax evasion after going through the assessee’s files, scrutinises an average of 400 cases a year.
If you’re worried about what questions your income tax officer will ask about your returns, you can relax a bit. The department has decided to take up fewer tax returns for scrutiny this year. The Central Board of Direct Taxes had issued an internal circular in December 2009, asking commissioners to select fewer cases for scrutiny.
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