The new rule that requires companies with a monthly turnover of more than 50 lakh to pay at least 1% of their liability net of goods and services tax (GST) in cash will not affect small businesses and the payment Cash is calculated on the basis of the tax component …
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The government has deregistered the goods and services tax (GST) of more than 163,000 business entities due to non-filing of tax returns for more than six months to curb the threat of fugitive operators creating fake companies and profiting fraudulently the income tax credit (ITC) worth billions of rupees, said …
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The GST General Directorate of Intelligence (DGGI), Nagpur, has found fraudulent transactions of Rs 290.70 million, including a bogus Input Tax Credit (ITC) of Rs 25.22 million, after searches on a private company and one person has been arrested, an official said. Monday. According to a DGGI release, a Mumbai-based …
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