Articles tagged under: GST

Tax officials including SGST and central excise superintendent held by ACB for taking bribe in South Gujarat

July 18, 2019
Tax officials including SGST and central excise superintendent held by ACB for taking bribe in South Gujarat

Vapi:The Anti Corruption Bureau (ACB) of the Gujarat police today nabbed red handed two officials of the SGST and Central Excise department including a superintendent rank officer taking bribe of Rs 25000/- from a builder in Vapi city of Valsad district in South Gujarat. ACB Assistant Director D P Chudasama said that SGST and Excise Superintendent Sujeet S Prasad and Inspector Vivek B Sharma have done tax audit of a construction project in Gundalav area and had demanded the bribe from ...Read More

Number of PAN holders increased by 11% but filing of ITRs declined by 7.5% in Gujarat in 2018-19

June 26, 2019
Number of PAN holders increased by 11% but filing of ITRs declined by 7.5% in Gujarat in 2018-19

New Delhi: The number of Permanent Account Number (PAN) holders has gone up by 11% from 2,31,66,632 in FY2017-18 to 2,57,18,319 in FY2018-19 in Gujarat. However, number of Income Tax Returns (ITRs) filed in the state has witnessed dip of 7.50% in the same period. As against 71,41,250 ITRs filed in FY2017-18, only 66,05,231 ITRs were filed in FY2018-19. Union Minister of Finance Smt. Nirmala Sitharaman provided the details in Rajya Sabha on June 25, 2019 while replying to the questions raised by ...Read More

Kushal Ltd promoter arrested by CGST sleuths

April 02, 2019
Kushal Ltd promoter arrested by CGST sleuths

Ahmedabad: CGST officials have arrested the chief managing director of Ahmedabad-based scam-ridden private firm Kushal Ltd for evading taxes by generating bogus invoices worth Rs 672.3 crore without actual movement of goods and also using them to claim Input tax credit, fraudulently. The promoter of firm was arrested by preventive wing of CGST, Ahmedabad – South Commissionerate on Monday. Agrawal had evaded GST worth Rs 88.7 cr by producing fraudulent invoices, confirmed CGST officials. ...Read More

ACB nabs State GST officer cum assistant commercial tax commissioner red handed taking bribe in office

March 26, 2019
ACB nabs State GST officer cum assistant commercial tax commissioner red handed taking bribe in office

Ahmedabad:The Anti Corruption Bureau (ACB) of Gujarat police today nabbed red handed an state GST official and assistant commercial tax commissioner while he was taking a bribe of Rs 21 thousand in his office. Assistant Commissioner of ACB D P Chudasama said that Rajesh V Sandpa, the tax official was nabbed from his office in the Bahumali bhavan near Lal Darwaza. He had sought the bribe for decreasing the amount of tax and penalty in a notice issued to the owner of a firm for y...Read More

In a big relief to home buyers, and boost to real estate, GST rates lowered

February 24, 2019
In a big relief to home buyers, and boost to real estate, GST rates lowered

New Delhi:In a move that would help middle class home buyers and also address the vexing issue of restricted cash flow problem for the real estate sector, the Goods and Services Tax (GST) Council on Sunday announced that the GST payable for under construction properties for affordable houses will be five per cent. The new rates will be without input tax credit and the taxes lowered from the existing 12 per cent, Finance Minister Arun Jaitley said. The fresh tax rates in principle approved b...Read More

ACB nabs GST and central Excise officer in South Gujarat taking Rs 1 lakh bribe

February 23, 2019
ACB nabs GST and central Excise officer in South Gujarat taking Rs 1 lakh bribe

Vapi: The Anti Corruption Bureau (ACB) of Gujarat police nabbed a superintendent rank official of GST and central excise department in Vapi of South Gujarat taking a bribe of Rs one lakh from a businessman. Assistant Director of ACB Gambhirsinh Padheriya today said that Narendrakumar G Samariya (46), Superintendent in the office of GST here and the native of Ajmer in Rajasthan had sought a bribe of Rs one lakh from a man in Mandap making service for lessening the service tax. Base...Read More

Preventive wing of CGST commissionerate busts racket involved in making fake invoices of more than 500 crores in Kutch, nabs mastermind

January 22, 2019
Preventive wing of CGST commissionerate busts racket involved in making fake invoices of more than 500 crores in Kutch, nabs mastermind

Bhuj: A team of the preventive wing of central goods and services tax (CGST) commissionerate of Kutch district in Gandhidham have busted a racket involved in issuance of bogus/fake invoices with an objective to pass on and utilize ineligible Input Tax Credit fraudulently and evade payment of GST and its mastermind Gurukamal Singh was arrested and sent to jail today. An officer of the comissionerate said that Gurukamal had issued such invoices worth around Rs 531 crores to pass on fraudul...Read More

GST Council doubles annual turnover threshold for GST registration to Rs 40 lakhs

January 10, 2019
GST Council doubles annual turnover threshold for GST registration to Rs 40 lakhs

New Delhi: Under the originally GST structure in July 2017,there was a provision that those with annual turnover of upto Rs. 20 lakh are considered within exemption. In North East and hill states the exemption limit was Rs. 10 lakh. J&K, Assam and some other states among hilly and North East category have amended laws and brought up the limit to Rs. 20 lakh. In today's meeting it was decided to continue this twin structure.And so, Rs. 20 lakh threshold has been doubled to Rs. 40 lakh. So if ...Read More

New year day: Jet fuel, petrol, diesel, LPG cheaper, Rupee rises against US dollar in early trade, 23 items go cheaper due to GST cut

January 01, 2019
New year day: Jet fuel, petrol, diesel, LPG cheaper, Rupee rises against US dollar in early trade, 23 items go cheaper due to GST cut

Gandhiniagar: In a new year gift to citizens, the Government of India has announced major reduction in the LPG Gas Cylinder. The rate of non - subsidised LPG cylinder has been cut by Rs 120.50 while the price of subsidised LPG cylinder has been cut by Rs 5.91. In another good news, new GST rates are effective from today. This makes TV, monitor and 22 other items to get cheaper.The consumers will pay less for these items of common consumption as the incidence of Goods and Services Tax (GST) on...Read More

Eighteen Months of the GST: Finance Minister Arun Jaitley’s note

December 24, 2018
Eighteen Months of the GST: Finance Minister Arun Jaitley’s note

New Delhi: Finance Minister Arun Jaitley has published a facebook note on 18 months of GST. Jaitleyin his note said, the next priority will be to transfer cement into a lower slab. "All other building materials have already been transferred from 28% to 18% and 12%. The sun is setting on the 28% slab." Jaitley's note in full text is presented below: Eighteen Months of the GST The Goods and Services Tax was implemented w.e.f. 1st July, 2017. It hasn’t completed eighteen months of implemen...Read More