Page 5 - Tax Evasion

CEOs not to be issued summons at first instance for GST evasion: DGGI

The officers have been asked to ensure that a summon for personal appearance is issued only when specifically required. This would imply that the personal presence of an individual is minimised

Rs 20,000 hotel bill, Rs 50,000 insurance premium may come under I-T lens

In a list of proposed measures to widen the tax base, in a tweet, government said no taxpayer should be left behind in the drive to ensure better compliance and transparency

GoM to take up proposal on gold e-way bills to check tax evasion, smuggling

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

GST intelligence detects over Rs 17-cr tax evasion by MP cement firm

During the factory search on Saturday, the team of DGGI officials was surrounded by a mob of people who threatened and interfered with the official proceedings

Govt notifies e-invoicing for companies with Rs 500-crore turnover

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

Biz with turnover above Rs 500 cr to raise e-invoice for B2B transactions

The Central Board of Indirect Taxes and Customs (CBIC) has notified the revised format for e-invoice under GST by replacing existing form and also increased the turnover threshold

Govt considers amnesty scheme for citizens hoarding gold illegally

The government plans to ask people with unaccounted holdings of the metal to declare it to tax authorities and pay levies, and penalty

I-T dept to crack the whip on tax evaders, resume probe in pending cases

The move will help the department shore up revenue, clear backlogs, and resume probe in pending matters.

GST officials detect Rs 105-cr tax evasion by Indore-based cigarette maker

DGGI had conducted searches at the firm's premises that revealed that a secret exit had been set up on the rear side through which unaccounted raw materials were brought and finished goods cleared

GST body detects Rs 225 cr tax evasion, busts pan masala racket in Indore

The total duty implication in this fraud is estimated to be around Rs 400 crore, the statement issued by the DGGI said

CBI takes over investigation in Barak Valley coal scam case of Assam

The case was recommended for a CBI probe by Assam Chief Minister Sarbananda Sonowal in 2018

India saw Rs 6.14 trillion, or 3% of GDP, escape tax net in 2017: Report

The report said a staggering $8.8 trillion value gap was identified in trade between 135 developing countries and 36 advanced economies over the period of 2008-2017.

Govt's monthly GST lottery scheme to curb tax evasion to begin from April 1

Under the scheme, the revenue department will conduct monthly lucky draws which will have one bumper prize, while there would be second and third prizes state wise

Simplifying regime to make tax harassment 'a thing of the past': Modi

Until now, a process-centric tax system was predominant in India, but now it was being made public-centric, the prime minister added

GST officials unearth Rs 241-cr tax evasion through fake invoicing

The racket was busted by the anti-evasion wing of CGST Delhi South Commissionerate

I-T crackdown: Brokers, investors come under scanner for fraudulent trades

Conducts searches at over 150 places linked to brokers, investors for alleged tax evasion

I-T dept serves notice to Congress for 'hawala funds' worth Rs 170 cr

The IT department seeks Congress' explanation for receiving the funds from a company as part of its tax evasion probe.

Tax evasion: I-T makes highest cash seizure of Rs 9.55 cr in Pune

The policy-making body of the department said the action was undertaken on November 4. It did not identify the entity.

Swiss pact on tax info to help fight scourge: President Ram Nath Kovind

'The scourge of terrorism is among the gravest challenges that the world faces today', said President Kovind

Evasion of tax up to Rs 25 lakh won't be prosecuted in court: CBDT

The directive is being seen as a major move to cut down tax litigation and will save a number of assessees from legal proceedings