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FAKE INVOICES
Jefferies gets new evidence of fake invoices at beleaguered fund tied to iron ore traderThe discovery of fake invoices related to Sapphire Minmetals by Jefferies Financial Group has intensified scrutiny over the financial repor...- CBIC readies rules to facilitate filing of multi-state GST appealsThe Central Board of Indirect Taxes and Customs is preparing a new framework that will streamline departmental appeals involving multiple s...
- GST law panel clears proposal to shield buyers' input tax credit from supplier defaultsA GST Council proposal will protect buyers from losing input tax credit. This protection applies if suppliers fail to deposit taxes with th...
- Aviva set to become first foreign insurer to fully own India life businessUK insurer Aviva Plc is set to fully own its Indian life insurance venture. This move follows India's recent policy allowing total foreign ...
- This is how a company tricks you into thinking it's bigger than it is in realityRevenue is not always the amount written on the invoice. The final number can change because of rebates, returns, penalties, warranties, cu...
- Bank of Baroda to pay $600 million to settle NMC Health insolvency claimsBank of Baroda has agreed to a $600 million settlement with administrators of the insolvent NMC Health Plc. The bank faced allegations of g...
- Forget fake invoices. The real risk is the assumptions made in the balance sheet to hide lossesMost accounting risks make noise. The biggest one on the Indian balance sheet doesn't. It hides inside growth assumptions, discount rates, ...
- FIFA World Cup fever fuels cyber scamsCybercriminals are exploiting the FIFA World Cup, creating thousands of fake ticket portals, merchandise stores, and streaming sites to sca...
- Paying tax won't legitimise cash stashesThe taxman is tightening its grip on undeclared cash, with a recent tribunal ruling allowing the benami wing of the Income Tax department t...
- PNG gas scam: Man clicked on bill link & kept losing money until Rs 31 lakh was drained; 21 others fell for the same fraudFake gas bill update scam: A cyber fraud has targeted 22 individuals in Thane, Maharashtra. Victims received fake gas bill update messages,...
- Want to exchange old gold for new jewellery? Beware of these taxesIndians exchanging old gold for new should be aware of potential taxes on sales and purchases. The Income Tax Department monitors high-valu...
- GST leaks need plugging as fake invoices surge and exporters face liquidity strainIndia's Goods and Services Tax system shows strong growth but struggles with fake invoice fraud, especially in the scrap sector. This pract...
- CGST Guwahati arrests two persons for fake invoice racket and contraventionGuwahati CGST has arrested two individuals for their involvement in a fake invoice racket. The accused confessed to obtaining GST registrat...
- GST fraud racket busted: Fake invoices worth Rs 658.55 crore unearthedCentral GST Itanagar Commissionerate has uncovered a racket issuing fake invoices worth Rs 658.55 Crores without supplying goods, leading t...
- GST intelligence unearths Rs 338 crore fake invoicing racket in AssamAdditional Director General LS Gangte in a statement said a trader was engaged in receipt and issuance of fake invoices of coal. The firm s...
- GST authorities arrest 12 more in ongoing crackdown on fake invoicingSeveral such instances have been unearthed by the authorities earlier where chartered accountants have been involved in bogus firms and/or ...
- Those filing fake invoices can't scoot easily as Budget empowers taxman to attach properties"In order to protect the revenue, it is proposed to provide that the penalty proceedings initiated for fake invoice/sham transactions of mo...
- Fake ITC: Officials arrest 25, book 350 cases in nationwide crackdown“The actual amount of fake ITCs involved is being ascertained. Searches and investigations are on to identify and apprehend other people wh...
- GST authorities bust a racket of fake invoicing of Rs 7896 croreThe officers of Anti Evasion wing of Central Tax, Delhi West Commissionerate found that the network of fake companies procured and generate...
- Taxmen flag two cases of fraud in Delhi amid crackdown on fake invoicingTax authorities under the Delhi CGST zone unearthed the two cases, one of which involved issuing of fake invoices for fraudulently availing...
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