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Chartered accountant arrested for GST fraud

MEERUT: In a major operation against firms which availed fraudulent Input Tax Credit (ITC) under Goods and Services Tax (GST) regime, the sleuths of Directorate General of GST Intelligence (DGGI), Meerut Zonal Unit conducted searches at multiple locations in Delhi, Mumbai, Raipur, Varanasi and Moradabad unearthing a major scam of fake invoices without supply of goods by a group of people to defraud the government revenue.
DGGI sources said that they did it by way of encashment of fraudulent ITC availed on fake invoices through IGST export refund route. Chartered accountant Gaurav Jindal, 27, has been arrested for allegedly running the racket. He was sent to Meerut jail for the offence on Tuesday.Elaborating on the matter, senior intelligence officer Devender Kumar said, “These offenders created multiple companies/firms using either their own PAN card and voter id; or in the name of family members and employees of their firm solely for the purpose of fake billing without supply of good…

GST pushes logistics, warehousing space take up to all-time high in 2018

Large deals count doubled in 2018 compared to 2017; Rentals continued to appreciateMUMBAI | BANGALORE: The implementation of the Goods & Services Tax has propelled India’s logistics and warehousing absorption to an all-time high of over 24 million sq ft in 2018, recording a growth rate of over 40% compared to 2017, showed data from CBRE South Asia.Overall in 2018, Mumbai, followed by NCR, Bangalore and Chennai  dominated leasing, accounting for more than 70% of the space take-up.The second half of 2018 has witnessed robust leasing activity with about 14.3 million sq ft of space take up, a 46% increase on a half-yearly basis. Mumbai dominated leasing activity with a share of about 21%, followed by Delhi-NCR’s 20% and Chennai’s 16% share.As expected, GST has resulted in the abolition of state-level VAT check-posts which in turn has reduced transit time. Corporates are now gradually consolidating into larger warehouses to reduce their total numbers of facilities, which in turn reduce…

Decision on uniform GST rate for lottery sales postponed

Meanwhile, lottery agents’ associations in the state have condemned the move.
THIRUVANANTHAPURAM: The GST Council has postponed a decision on uniform GST rate for lottery sales to Sunday. It followed a request by Finance Minister Thomas Isaac for voting on the issue. A ministerial panel to review the tax rate had earlier recommended a uniform tax rate of 18 pc or 28 pc for all lotteries. Isaac who was a strong opponent of the uniform tax rate was part of the ministerial committee but could not attend its latest meeting as he was indisposed.Meanwhile, lottery agents’ associations in the state have condemned the move. The Bhagyakkuri Samrakshana Samithi has asked the Central Government and the council to withdraw from the move for a uniform tax rate. A uniform tax rate will only help benamis of other-state lotteries to enter the Kerala market, it said.The Samrakshana Samithi’s state committee which made the demand included Philip Joseph (INTU), convenor P R Jayaprakash (CITU) and V Balan…

Cabinet nod for proposal to settle pre-GST taxation disputes

MUMBAI: The Maharashtra cabinet Wednesday approved a proposal that seeks to settle all the taxation-related disputes pending before the Goods and Services Tax (GST) came into effect.This is aimed at recovering the revenue that the government was losing due to litigation and clearing backlog of cases, a statement issued by the Chief Minister’s Office (CMO) said.A new legislation will be introduced to ensure that people who come ahead to settle their disputes will get a waiver in the range of 1 per cent to 50 per cent in their penalty amount, it said.“This is being done to ensure that the revenue that the government was losing due to litigation is recovered and also the backlog of applications as per the old taxation system is disposed of,” the statement added.“Thousands of cases as disputes are pending since years in the state. The cases are related to various taxes such as the Central Sales Tax, 1956, the Bombay Sales of Motor Spirit Taxation Act 1959, the Maharashtra Purchase Tax on …

GST: Man arrested for issuing fake invoices in Rajasthan

An entrepreneur was arrested here on Wednesday for issuing fake invoices without supplying goods and availing the Input Tax Credit (ITC), a DGGI official said.The zonal unit of Directorate General of GST Intelligence (DGGI) had initiated investigation in 2018 against Saurabh Chhajer (34) of Jain Enterprises and arrested him on Wednesday for evading tax through seven of his firms.The firms were created before the GST was implemented. The total value involved in these fake invoices issued by these firms was Rs 174.33 crore, involving total ITC of Rs 33.05 crore, the official said.He said the amount was detected on preliminary investigation and may increase later.The official said that Chhajer was the mastermind behind this bogus billing and had issued invoices to total 479 firms, of which 393 are located in Rajasthan and 86 outside Rajasthan.He issued bills mainly in lieu of cigarettes, biddis, pan masala, gutkha, cosmetics, cement, iron & steel, firms of marble, iron and rubber ind…

Due date of filing GSTR-3B for tax period January, 2019 extended

As per GST  portal Due date of filing GSTR-3B for the tax period January, 2019 has been extended up to 22nd February, 2019. Only for J&K it is extended up to 28th Feb 2019. Official Notification / Press Release is expected by end of the day. Today’s GST Council meeting  is adjourned as several members […]

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Brief analysis of Hon’ble SC ruling on ‘Non-appearance of Counsel’ as a ground for adjournment w.r.t. to GST Law

Supreme Court ruled that We make it clear that since we have not found it to be a good ground for adjournment, under no circumstances, application for restoration shall be entertained.

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Mere variation in description of Goods in Dealers’ Invoice and Inward Notes not sufficient to suspect Fraudulent Credit

M/s. C.P.C. (P) Ltd. Vs Commissioner of GST & Central Excise Coimbatore (CESTAT Chennai) The very variation in the description of the goods in the dealers’ invoice, as well as the material inward notes, cannot be a ground for alleging that the appellant has availed fraudulent credit. There is no allegation with respect to the […]

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HC order Release of Goods as Sale Transaction not attained Finality

Sunaiba Industries Vs State of U.P. (Allahabad High Court) The petitioner is the selling dealer of the goods. The goods were being transported from Delhi to Kanpur in 30 builties. Only on account of improper invoice in respect of some of the builites, the goods have been seized and directed to be released on furnishing […]

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HC order release of good on payment of Tax of dealer not registered in that state

Armour Steel Buildings India (P) Ltd. Vs Asstt. State Tax Officer (Kerala High Court) The petitioner, an assessee under the GST Act in Tamil Nadu, sent goods across to the State. The Assistant State Tax Officer intercepted the goods and detained them. After the initial procedural formalities the petitioner suffered an order under section 129 […]

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