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INPUT TAX CREDIT FRAUD
No input tax credit for the innocent buyer after paying GST? Supreme Court settles who bears the cost when a supplier defaults- Formal retail credit access doubles over past decade
- Employee wrongly declared Rs 14 lakh Australian salary in Indian ITR: ITAT grants tax relief but denies Rs 3.4 lakh foreign tax credit
- How a 13-year-old Arika Kundu turned peanut shell into a solution to remove pesticides from fruits & vegetablesArika Kundu, a young Indian-American student, has developed an innovative method for reducing pesticide residues. Her project utilizes disc...31 Jul, 2026, 10.30 AM IST
- Rajasthan footwear artisan earning Rs 15,000 a month received Rs 6 cr tax notice: A fake export firm in TN with Rs 6.7 crore GST dues was allegedly registered using his PANRajasthan footwear artisan Jitendra Kumar Jingar, who earns Rs 10,000 to 15,000 a month making traditional leather shoes in Balotra distric...31 Jul, 2026, 09.55 AM IST
- 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...31 Jul, 2026, 01.05 AM IST
- RBI issues revised Basel Pillar 3 disclosure framework for commercial, small finance and payments banksThe Reserve Bank of India has revised its Basel Pillar 3 disclosure framework. These amendments aim to strengthen market discipline through...30 Jul, 2026, 09.30 PM IST
- Kirti Kulhari, R Madhavan & Amitabh Bachchan co-star, lost Rs 2.4 lakh in credit card fraud despite never sharing her PINKirti Kulhari Loses Rs 2.4 Lakh In Fraud: A night out at the movies turned into a scramble to save her bank account, after actor Kirti Kulh...30 Jul, 2026, 05.23 PM IST
- Transfer of unclaimed shares may go digital; AI, data analytics to perform several tasksThe government plans a new digital system for unclaimed shares and dividends. This system will connect various official platforms using app...30 Jul, 2026, 12.29 AM IST
- Cyber fraud cases tripled between 2020 and 2024, Govt tells Rajya SabhaCyber fraud cases have nearly tripled in India since 2020. Telangana recorded the highest number of these cases in 2024. Online banking fra...29 Jul, 2026, 05.49 PM IST
- Delhi Lakshmi Yojana eligibility: Check who can apply for Rs 2,500 monthly aid, who will not qualify and registration starting dateWho is eligible for Delhi Lakshmi Yojana: Delhi cabinet has approved the Delhi Lakshmi Yojana, a scheme promising Rs 2,500 per month to eli...29 Jul, 2026, 02.50 PM IST
- ITC fraud worth Rs 74,782 crore detected in FY26; Maharashtra, Gujarat leadCentral GST officers detected over 30,000 input tax credit fraud cases in 2025-26. These cases involved approximately Rs 74,782 crore and l...28 Jul, 2026, 09.26 PM IST
- Minimum balance charges swell pvt banks' coffers by nearly Rs 5,000 cr in FY26Private banks collected over Rs 4,900 crore from account holders for minimum balance failures. Public sector banks also gathered Rs 2,100 c...28 Jul, 2026, 08.39 PM IST
- Supreme Court pushes Centre to define 'digital arrest' as standalone crime with tougher punishment amid rising deepfakes, frauds & fake callsSC on digital arrest: The Supreme Court suggested defining digital arrests as a standalone criminal offense. Existing laws may prove insuff...28 Jul, 2026, 08.35 PM IST
- Macroeconomic fundamentals of Indian economy remain strong amid global challengesIndia's economy shows strong macroeconomic fundamentals and a resilient financial system. Robust domestic demand and healthy corporate bala...28 Jul, 2026, 05.20 PM IST
- How AI fraud detection is reshaping banking and financial services in IndiaEvery digital payment, loan approval and investment decision carries an invisible layer of intelligence. AI products are quietly helping fi...28 Jul, 2026, 12.25 PM IST
- GST panel may consider allowing transfer of unused tax credit within corporate groupsA key GST panel will consider industry suggestions for transferring unutilised input tax credit. Exempting intra-group corporate guarantees...27 Jul, 2026, 11.37 PM IST
- Why using a debit card for groceries and fuel is a costly mistake. CA explains why you may be losing outCA Nitin Kaushik argues that using a debit card for everyday expenses like groceries, fuel and travel could mean missing out on rewards, fr...23 Jul, 2026, 01.46 PM IST
- How a Meerut slum woman masterminded a Rs 357 crore income tax return fraud from a 25-sq-yard homeThe Income Tax Department has uncovered a large tax refund fraud racket. A 30-year-old woman allegedly created fake deductions worth crores...18 Jul, 2026, 04.04 PM IST
- Input tax credit relief for companies on staff cars, insurance likelyCompanies may soon claim input tax credit on employee vehicles. Group health and life insurance policies for staff are also included. The G...15 Jul, 2026, 01.06 AM IST
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