Rs 176-Crore Tax Fraud Mastermind Caught While Trying To Flee Country

A 34-year-old alleged mastermind of a fake input tax credit racket, which caused a loss of Rs 176 crore to the government by floating fictitious companies in the names of poor people, has been arrested while attempting to flee the country.

Six years after Goods and Services Tax revenue of Rs 1.5 lakh crore every month has become a new normal and tax officers are focusing on dealing with fraudsters who are adopting newer modus operandi to game the system, causing loss to the exchequer.

The GST Intelligence officers have unearthed a racket involving 461 shell/fake entities, which had passed on fraudulent input tax credit of Rs 863 crore.

The GST Council on Thursday said it will hold a meeting, chaired by Union Finance Minister Nirmala Sitharaman, on July 11.

Hitting out at the government, the Congress said on Tuesday that "no amount of headline management" with GDP growth numbers and GST revenues can hide the economic distress faced by a majority of Indians as it cited a surge in the

Delhi Finance Minister Kailash Gahlot on Wednesday said the collection of GST and VAT in the city was more than Rs 34,000 crores in 2022-23, and claimed Delhi will be a leading state for tax administration through the intervention of AI.

Finance Minister Nirmala Sitharaman on Tuesday said the GST Council is deliberating on taxation policy for online gaming and exuded confidence that the sector will attract investment once it is finalised.

Finance Minister Nirmala Sitharaman on Tuesday said the GST Council is deliberating on taxation policy for online gaming and exuded confidence that the sector will attract investment once it is finalised.

Prime Minister Narendra Modi called GST revenue collection for April 2023 being highest ever at Rs 1.87 lakh crore "great news for the Indian economy."

The Finance Ministry is considering classifying online gaming into categories of skill and chance, and levying a differential rate of GST, an official said. Currently, online gaming attracts 18 percent GST. The tax is levied on gross gaming revenue, which is the fees charged by online gaming portals.

The Delhi High Court has upheld the centre's decision to levy GST on the services offered by an auto-rickshaw or other non-air-conditioned carriages through electronic commerce operators like Uber.

A superintendent with the Central Goods and Services Tax (GST) department and two others were arrested in Surat in Gujarat for allegedly extorting Rs 12 lakh from a shopkeeper, a police official said on Friday.

Punjab Chief Minister Bhagwant Mann Friday said the state has cleared its entire electricity subsidy bill of Rs 20,200 crore for the last financial year and has witnessed a jump in excise and GST revenue.

Mr Tharoor also shared images of the letter he sent to the Finance Minister.