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INCORRECT INPUT TAX
Aviva's India arm hit with $7.5 million fine for fake invoice scheme, order showsIndian authorities have ordered Aviva India's local unit to pay $7.5 million in back taxes and penalties for creating fake invoices, paying...16 Feb, 2025, 08.48 AM IST- New GSTN feature to correct mistakes in GST invoice matching process for claiming input tax credit; Know how it worksInput tax credit: The goods and services tax network (GSTN) has introduced a solution to help GST registered taxpayers into claiming the co...14 Nov, 2024, 12.41 PM IST
- Zomato gets Rs 9.5 crore tax demand, company to appeal against orderFood delivery company Zomato said it has received a tax demand from the Karnataka authorities, aggregating to Rs 9.5 crore. This is the lat...30 Jun, 2024, 07.59 PM IST
- Zomato gets tax demand order of Rs 23 croreZomato to appeal Rs 23.26 crore tax demand from Karnataka for FY 2018-19, including GST of Rs 11,27,23,564. Confident in a strong case, Zom...01 Apr, 2024, 07.58 AM IST
- Ease of doing business: India may do away with arrests for sub-Rs 3 crore GST evasionCurrently, under Section 132 of the Central GST (CGST) Act, illegal credit for GST evasion is a criminal offence. GST evasion of Rs 2 crore...15 Nov, 2023, 06.41 AM IST
- Thousands of taxpayers get GST notices for FY18Tax experts said this would lead to an increase in litigation over the next three months while hitting cash flows of companies as they woul...30 Sep, 2023, 07.25 AM IST
- M&M gets Rs 14.3 lakh penalty notice for incorrect input tax credit claim by erstwhile armMahindra & Mahindra has been fined over Rs 14.3 lakh ($20k) for taking incorrect input tax credit during the transition to the GST regime b...18 Aug, 2023, 01.08 PM IST
- Income Tax department reduces time for taxmen to decide on refund adjustmentAccording to the Directorate of Income Tax (Systems) notice, the time limit of 30 days made available to the assessing officers has been re...04 Dec, 2022, 06.33 PM IST
- Rajasthan assembly passes GST amendment billEducation Minister B.D. Kalla introduced the bill in the house on behalf of the minister in charge. After the discussion on the bill, Kalla...22 Sep, 2022, 09.12 PM IST
- Allow buyers to claim ITC even if supplier defaults in depositing GST: PHD ChamberAhead of GST Day on July 1, industry body PHD Chamber of Commerce has raised the issue of blocking input tax credit and said the buyer shou...29 Jun, 2021, 05.35 PM IST
- Textiles sector rues synthetics’ inverted duty structure“At present, synthetic fibre is taxed at 18%, yarn at 12% and final output at 5%, creating a tax structure where rate on inputs is higher t...07 Feb, 2019, 06.39 AM IST
- Key points for first ever filing of GST Annual returnsThe government has introduced different types of annual return keeping in mind the various categories of taxpayers.06 Dec, 2018, 09.46 AM IST
- Finance Ministry simplifies GST refund claim process for businessesGSTR-2A is a purchase return auto-generated by the system based on the transaction between a business and its supplier.05 Sep, 2018, 04.13 PM IST
- Notice shot off to businesses for less IGST input credit claimThe effort of this exercise, officials said, is to find out whether the mismatch is on account of genuine errors by the businesses or with ...08 Jun, 2018, 01.03 PM IST
- False TDS returns may attract penalty“From July 1, government may impose penalty of Rs 10,000 and Rs 1,00,000 for inaccurate TDS returns and also for corrective filings after p...03 May, 2012, 04.48 AM IST
- Inaccurate TDS returns may attract penalty from July 1Presently, there is no penal provisions for mistakes in both first and corrective TDS filings if wrong details had been provided.02 May, 2012, 03.56 PM IST
- Cos to pay interest on incorrect Cenvat creditCompanies will have to bear interest on any cenvat credit wrongly taken even if it is not utilised, according to the Central Board of Excis...05 Sep, 2009, 04.11 AM IST
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