GST Evasion

1030 people have been arrested by tax authorities since 2020

GST evasion of about Rs 23,000 crore by gaming companies between April 2019 and November 2022 is being investigated by the tax officers, Minister of State for Finance Pankaj Chaudhary said on Monday. In a written reply to a question in the Lok Sabha, the minister said the Enforcement Directorate has attached proceeds of crime of more than Rs 1,000 crore in several cases related to Cyber and Crypto assets frauds wherein online gaming etc have been used for siphoning the proceeds. About evasion of Goods and Services Tax (GST), Chaudhary said Central Board of Indirect Taxes and Customs (CBIC) formations have initiated investigations against some gaming companies (including online gaming firms) located in India as well as abroad. "The estimated evasion of GST by these companies works out of Rs 22,936 crore, relating to the period April 2019 to Nov. 2022," he said. Besides, the Directorate of Enforcement is investigating several cases related to Cyber and Crypto assets frauds wherein ..

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Face charge of incorrect declaration to dodge tax

Tax authorities issuing show-cause notices will have to complete all enforcement and consequential action against the assessee against whom GST evasion was detected, the GST Council has said. Under the GST regime, states administer and control 90 per cent of the assessees with an annual turnover of up to Rs 1.5 crore. Assessees with an annual turnover of over Rs 1.5 crore are administered by the Centre and state tax authorities in 50:50 ratio on computer-based random sampling. In order to resolve the jurisdictional issues while dealing with enforcement cases, the GST Council has clarified that the tax authorities, whether Centre or state, which initiates the enforcement action will be responsible for completing all consequential actions like appeal, review, adjudication. The GST Council Secretariat, in an office memorandum, said that varied practices are being followed by the field formations regarding the issuance of recurring Show Cause Notices (SCNs) as well as other consequenti

In the last two-and-a-half months, the government has identified leakages worth Rs 100 crore through various covert operations

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

The Directorate General of GST Intelligence recently launched a probe over alleged GST evasion against crypto exchanges. Will this nudge the govt to put a regulatory framework for cryptocurrencies?

The Finance Ministry has set up two committees of state finance ministers who would review current tax slabs and GST exempt items, identify potential evasion sources and suggest changes in IT systems. The Group of Ministers (GoM) on rate rationalisation would also review inverted duty structure, recommend rationalisation measures, including merger of tax rate slabs. The 7-member panel, which would submit a report in two months, would be headed by Karnataka Chief Minister Basavaraj Bommai and include West Bengal Finance Minister Amit Mitra, Kerala Finance Minister K N Balagopal, Bihar Deputy Chief Minister Tarkishore Prasad. It would also review the supply of goods and services exempt under Goods and Services Tax with an objective to expand the tax base and eliminate breaking of ITC chain. The GoM on GST system reforms would identify potential sources of evasion and suggest changes in business processes and IT systems to plug revenue leakage. The eight-member panel, headed by ...

Probe relates to wrong classification of rail supplies by bidders from July 2017 to June 2021

DGGI decision relates to misclassification of supplies

The government had earlier planned to extend e-invoicing to all entities from April 1, 2021, but has refrained, taking care of interest of small entities

The government netted a record GST collection of Rs 1.15 lakh crore in December 2020, helped by the action against tax evaders alongside pick up in the economy

Central GST authorities have detected a tax evasion of over Rs 830 crore by an illegal pan-masala manufacturing unit here and arrested a person for his involvement, according to an official statement

The Centre will extend it to companies with at least a Rs 100-crore turnover in January and for all companies in April next year for B2B transactions.

The meeting discussed the need for coordinated action to check revenue leakage

A Group of Ministers (GoM) led by Kerala Finance Minister Thomas Isaac will take up the proposal - aimed at checking tax evasion and smuggling - on Friday

DGGI has found alleged evasion of GST collectively worth over Rs 108 crore by two liquor manufacturers in Aurangabad and Nanded districts of Maharashtra

The move comes as the government is looking at ways to plug evasion amid dismal GST collections with the pandemic driving economy towards recession