Cgst

No service tax on corporate guarantees by parent company to subsidiaries in absence of consideration, it says

The finance ministry issued refunds amounting to Rs 2.4 trillion till January 10

Calcutta High Court says not clear how parallel proceedings can be conducted by three wings of same department

But suggests GST Council, states consider mechanism for reimbursing eligible units

Mop-up increases 28% YoY in August to Rs 1.43 trillion; most big states see double-digit growth in collections

Collection remains above Rs 1.4 trn for fifth straight month

But a longer-term perspective on state collections raises questions on GST's ability to fulfil certain primary objectives

The robust mop-up could be attributed to the government's tightened compliance measures and crackdown on GST evaders and fake bills

CGST Mumbai Zone has arrested a Navi Mumbai-based firm's director that allegedly availed and passed on Input Tax Credit of Rs 81 crore using bogus invoices to the tune of Rs 479 cr, an official said.

The CGST Mumbai Zone has arrested the director of a Navi Mumbai-based firm that allegedly availed and passed on Input Tax Credit of Rs 81 crore

The CGST officials arrested the owner of Al-Marwah Traders on Tuesday for allegedly availing, utilising and passing on fraudulent ITC on bogus invoices of over Rs 60 crore

But with court backing, the authorities are considering doing it in some cases of mismatch in the invoices

This follows a ruling by AAR Telangana on the matter, which also ruled that neither services provided by agency to govt, nor services provided on govt's behalf to businesses are exempt

Mop up grows 10% y-o-y at Rs 1.05 trillion, almost equal to levels in February before a nationwide lockdown to contain the coronavirus pandemic

CGST officials bust racket generating fake input tax credit of Rs 1,278 cr

The CGST Commissionerate of Raipur has collected Rs 716 crore revenue for September, registering a growth of 31% as compared to the corresponding month last year when it earned Rs 547 crore

The July collections, which is 84 per cent of last year's numbers, is however, a recovery from the months of April and May

However, the rate of decline has come down considerably to just 9.02 per cent from 38.17 per cent in May and 71.63 per cent in April

The government had allowed a relaxed time schedule for filing of Goods and Services Tax (GST) returns

The gross GST collection during the last month was Rs 2,790 crore