The Jaipur Zonal Unit of Directorate General of GST Intelligence (DGGI) has busted a major crime syndicate operating in 14 states, based out of Delhi.
The taxpayers, however, can reclaim the ITC later following the deposit of taxes by the supplier
Currently, a 5 per cent tax is levied on restaurant services, irrespective of whether it is air-conditioned or non-AC, without the benefit of the input tax credit (ITC).
The Central Board of Indirect Taxes and Customs (CBIC) last week introduced validation and risk rating for GST registrations, as it looks to curb fake entities issuing fake bills just to claim ITC benefit and defraud the...
The council, chaired by Union Finance Minister Nirmala Sitharaman and comprising her state counterparts, is scheduled to meet virtually on December 17
A large incidence of mismatch in Input tax credit (ITC) claims and details of outwards supplies has come to light during the GST audit for 2017-18 and 2018-19 undertaken by tax officials, following which show cause notices...
