Rs 557 Crore GST Fraud Unearthed In UP, 3 Arrested

GST officers have unearthed two fake billing rackets involving 246 shell/fake entities involved in fraudulently passing input tax credit (ITC) of Rs 557 crore and arrested three key operatives.

Of the Rs 3.09 lakh crore net proceeds of shareable union taxes and duties distributed to the states, Central GST collection devolution stood at Rs 94,368 crore till July.

Chinese smartphone makers, including Oppo Mobile, Vivo India and Xiaomi Technology, have been found evading taxes worth Rs. 9,000 crore in India, Parliament was informed on Friday. Data shared by the Minister of State for Electronics and IT Rajeev Chandrasekhar in Rajya Sabha showed tax evasion comprising customs duty and GST.

Days after a 42-year-old man was arrested for allegedly duping a jeweller of 10 kilogrammes of gold worth Rs 6 crore, police have recovered two kilogrammes of gold following raids in Punjab's Ludhiana, officials said on Wednesday.

Amid the online gaming industry raising concerns over the levy of 28 per cent GST, Union minister Rajeev Chandrasekhar on Monday said the government may request the GST Council to consider the facts of new regulatory framework for the industry.

Tamil Nadu BJP chief K Annamalai on Saturday accused the ruling DMK of undertaking a disinformation campaign against the Centre issues including the Uniform Civil Code (UCC), and said the truth will be exposed in the forthcoming Parliament session.

Shaadi.com founder and Shark Tank India judge Anupam Mittal slammed the move, saying that entrepreneurs should now build rockets rather than gaming companies.

Online gaming companies on Tuesday said that levying of 28 percent GST will limit their ability to invest in new games, impacting cash flows as well as business expansion. The All India Gaming Federation (AIGF), which represents companies like Nazara, GamesKraft, Zupee and Winzo, said the decision by the council is unconstitutional, irrational, and egregious.

The $1.5 billion online gaming industry has surged in popularity in recent years and attracted foreign investment.

The GST Council has announced that the bets placed in online gaming and casinos will now face 28 per cent tax.

Delhi Chief Minister Arvind Kejriwal alleged today that with the Goods and Services Tax (GST) being linked with the Enforcement Directorate (ED), even those traders paying the tax can be arrested by the federal agency.

Delhi minister Atishi today said that the linking of Goods and Services Tax (GST) with the Enforcement Directorate (ED), could lead to the arrest of even those traders who pay tax.

The Kolkata Zonal Unit of the Directorate General of GST Intelligence (DGGI) has arrested one person for his alleged involvement in operating syndicates in 19 states, officials said Monday.

The central government on Saturday issued a notification to bring the Goods and Services Tax Network (GSTN) under the Prevention of Money Laundering Act (PMLA).