4 Arrested For Rs 400 Crore GST fraud, Enforcement Directorate Likely To Investigate

The Central Goods and Services Tax (CGST) department has arrested four persons for allegedly making false input tax credit (ITC) claims causing loss to the exchequer to the tune of at least Rs 400 crore, sources said.

Central GST Delhi-West Commissionerate has busted a racket involved in issuance of fake invoices and defrauding the exchequer to the tune of Rs 108 crore, an official release said on Saturday.

The Indian Railways Catering and Tourism Corporation Ltd. (IRCTC) has earned more than Rs 63 crore from convenience fee in September, an RTI query revealed.

The CBI has arrested a senior official in the GST department in Lucknow for allegedly demanding bribe from a local businessman, officials said Thursday.

Maharashtra Elections 2019: In a scathing attack on the Narendra Modi-led government, Congress leader Rahul Gandhi on Tuesday accused it of pursuing wrong economic policies like the notes ban and GST, resulting in increased unemployment.

Abhijit Banerjee, Economics Nobel winner this year along with his wife Esther Duflo and Michael Kremer, recently delivered a sharp critique of the Indian economy and rated the fall in consumption as "extremely serious".

Finance Minister Nirmala Sitharaman today admitted before a group of taxation experts that the Goods and Services Tax framework may still have some flaws two years since its introduction, but sharply advised them against "damning" a law that has been passed by Parliament with widespread approval.

Dell on Friday unveiled its OptiPlex 7070 Ultra - a flexible, modular and zero-footprint PC which targets the Banking, Financial Services and Insurance (BFSI) and Information Technology Enabled Service (ITES) sectors.

A GST evasion to the tune of Rs 1.5 crore by a Kanpur-based pan masala company, AJ Sugandhi Pvt Ltd, was detected by officials during search operations.

The Directorate General of GST Intelligence has unearthed a scam in which exporters from the National Capital Region (NCR) allegedly availed Goods and Services Tax refund of Rs 400 crore in connivance with units in Gujarat's Kandla Special Economic Zone, an official said on Tuesday.

Punjab Chief Minister Amarinder Singh on Sunday hit out at Union minister Harsimrat Kaur Badal, calling her a "compulsive liar" while reacting to the allegations that Punjab government reneged on its commitment of refunding its share of the GST charged on purchases made for langar (community kitchens) by the Shiromani Gurdwara Parbandhak Committee

The GST council has not announced any rate cuts on the passenger vehicles and that means there will be no change in the price of cars and bikes.

The Finance Minister has announced reduction in the corporate tax rate to 22 per cent from 30 per cent, while new manufacturing companies or companies which are making fresh investments from October 2019 will be taxed at 15 per cent which is a big boost to Make in India for sure but also a incentive to invest in the country.

The Centre on Wednesday said it will certainly take up the issue of "hefty" GST on hotel rooms' tariff in the meeting of its council as it impacts the tourism industry.