Man Accused In Rs 19 Crore GST Fraud Case Gets Bail

A Delhi Court has granted bail to an accused allegedly involved in wrongfully passing input credit of GST amounting to Rs 19 crores.

GST revenues rose by 15 per cent in December 2022 to over Rs 1.49 lakh crore, the Finance Ministry said on Sunday.

From January 1, GST would not be payable on housing units rented to the proprietor of a proprietary concern for residential usage only, the CBIC has said.

"Where confirmed government dues stand reduced as per IBC order then the GST department shall only recover such reduced dues by following the prescribed procedure," EY Tax Partner Saurabh Agarwal said, adding industry stands benefited by this circular.

Former Union finance secretary Hasmukh Adhia, who is credited with the successful implementation of the Goods and Services Tax (GST), has been appointed as the chief advisor to Gujarat Chief Minister Bhupendra Patel, an official said on Tuesday.

The contract amount of Rs 117.20 crore excludes GST and labour cess.

The Central Bureau of Investigation (CBI) has arrested a Superintendent of Central Goods and Services Tax (CGST), Anti-Evasion Unit, Vashi, Navi Mumbai in an alleged bribery case.

Thousands of farmers held a rally here on Monday under the banner of RSS-affiliated Bharatiya Kisan Sangh (BKS) to press for a rollback of GST on agricultural goods and other demands.

The Goods and Services Tax (GST) Council on Saturday decided to have a single definition across all states in the country for sports utility vehicles, attracting a higher tax rate.

The GST Council on Saturday agreed to decriminalise certain offences and doubled the threshold for launching prosecution to Rs 2 crore, Revenue Secretary Sanjay Malhotra said.

In India, the online gaming industry currently pays GST at the rate of 18 per cent on GGR amounting to over Rs 2,200 crore per year, Lakshmikumaran & Sridharan said.

The Minister of State for Finance had said the GST rates and exemption were prescribed by the government, based only on the recommendations of GST Council.

The Directorate of Enforcement is investigating GST evasion of about Rs 23,000 crore by gaming companies between April 2019 and November 2022, Minister of State for Finance Pankaj Chaudhary said on Monday. The ED has attached proceeds of crime in cases related to cyber and crypto assets frauds.

High nominal GDP growth in the first quarter supported strong growth in revenue collection, especially Goods and Services Tax (GST), despite tax cuts on fuel.