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GST LOOPHOLES
ED arrests Punjab minister Sanjeev Arora in Rs 100 crore money laundering caseThe Enforcement Directorate (ED) on Saturday arrested Punjab minister Sanjeev Arora in connection with an ongoing Rs 100 crore money launde...- Foreign betting sites pull a prank on taxmanOffshore gaming firms found a way to use the site name cgstahmedabadzone.gov.in to create additional, fake pages, complete with sub-links t...
- Apple CEO Tim Cook steps down; HCLTech Q4 reportAfter 15 years at the helm of Apple, Tim Cook will step down to make way for insider John Ternus. This and more in today's ETtech Top 5.
- FM Sitharaman asks GST officers to leverage tech to plug loopholes, better taxpayer servicesFinance Minister Nirmala Sitharaman urged GST officers to leverage technology, share best practices, and ensure seamless coordination acros...
- Overseas players too will have to pay 28% GST on bets placed on domestic e-gaming platformsThe amendment in IGST Act gives powers to the Government to notify such goods, so that in case of import of such goods IGST can be levied a...
- CAG plans to fix GST holes and loopholesCAG has also pointed to inconsistencies in the GST Network (GSTN) data, such as gaps between taxable value and declared tax liability. An e...
- GST evasion of ₹40,000 crore detected from fake invoicing, fraud claimsThe latest measures are aimed at tackling such frauds, impart better payment discipline and also protect the recipient who is not always in...
- SC seeks government response on plea to plug loopholes in GST systemThe petition was argued by senior advocate Sonia Mathur in the top court on Wednesday. A three-judge bench led by CJI SA Bobde dubbed it a ...
- Further tightening of GST registration process likelyThe move follows a nationwide crackdown by the tax authorities on invoice frauds and the arrest of 25 people.
- Proposal for GST under reverse mechanism draws mixed response from jewellery sectorTo plug loopholes in collection of GST or potential misuse, the GoM recommenced a 3% GST on purchase of old jewellery under the reverse cha...
- GST officers to take steps to check export valuation, devise SOP for verification of risky taxpayersMeasures to check export valuation, including capping of value for calculating export benefits and incentives, were also discussed and prop...
- Data analytics, Artificial Intelligence helped improve GST collections: CentreAt the GST Council meetings, there was a feedback from State Finance Ministers about various loopholes due to which tax revenue was not acc...
- GST collections have grown 4.9 % Y-o-Y: RBI Monetary PolicyAccording to the Central Bank, the share of SGST collections in total GST revenue has been higher than CGST, attributable to the adjustment...
- GST: With exceptions coming in, companies begin tax planningA tax partner at a leading consulting firm said, “GST was expected to end loopholes created through carve-outs and exemptions.
- Buyers find ways to avoid steep GST on flats being builtNo GST on completed projects offers loophole and some builders have found this way out for the prospective homebuyers.
- IBJA wants clearance tax on Asean gold importsLevy will prevent traders from exploiting tax arbitrage.
- Gold traders find another route to offset dutyAnother trade source said that exporters with in-house gold refineries were buying the discounted instruments.
- Sharad Pawar slams Modi govt over 'unprepared' note ban, GST roll-outHe also slammed the Centre over incidents of terrorism in Kashmir, and said there were loopholes in the policies adopted by the government ...
- Plug to curb zero-duty imports held up in talksThe finance ministry can impose them only after consultation with the commerce ministry.
- In rush to be GST ready, companies leaving security loopholesIn their effort to implement the GST as soon as possible, many companies are leaving a lot of vulnerabilities that could hit them hard.
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