Tag: CGST

Fake invoice racket busted, 2 held

Preliminary enquiry conducted so far into the transactions of these firms has revealed tax evasion of nearly Rs 17 crore.

March 18, 2023

GST collection in Feb 12% higher than that of same month last year

The government has settled Rs 34,770 crore to CGST and Rs 29,054 crore to SGST from IGST as regular settlement.

March 1, 2023

GST collections stood at Rs 1,43,612 cr in Aug, jumps 28% year-on-year

The gross GST revenue collections in August witnessed a 28 per cent jump year-on-year, as they stood at Rs 1,43,612 crore during the month.

September 1, 2022

CGST officials bust network of 23 firms over bogus ITC claims

Accordingly, they were arrested under Section 132 of the CGST Act on Saturday, July 10 and remanded to judicial custody by the duty Metropolitan Magistrate for 14 days.

July 11, 2021

GST collection hits new high of Rs 1,41 lakh crore in April

Tax experts, however, said that since the April collections reflect economic activity in March, the GST mop-up in the coming months could see a decline owing to lockdowns in certain parts of the country to curb surge in Covid cases.

May 1, 2021

CGST East Delhi Commissionerate arrests two for defrauding Government Exchequer of more than Rs 392 crore

The network of fictitious companies was being operated by one Naresh Dhoundiyal in connivance with one Devender Kumar Goyal, who is a Charted Accountant by profession.

March 6, 2021

Delhi East CGST officials arrest man for input tax credit fraud of Rs 38.91 crore, issuance of fake bills of Rs 216.06 crore

Information from analytics tool NETRA (Network Exploration Tool for Revenue Augmentation), was developed by the officers of Central Goods and Service Tax (CGST) Commissionerate, Delhi East to unearth a network of fictitious firms used to generate and pass on fake Input Tax Credit (ITC) of Goods and Service Tax (GST).

March 2, 2021

DGGI to write to ICAI against 3 CAs arrested for fake GST invoice frauds

Sources said that two arrests were made on Friday in Gurugram while one each was made in Nagpur, Kolkata and Mumbai CGST zones.

November 20, 2020

GST revenue collection in June stands at Rs 90,917 cr

The total revenue earned by central government and state governments after regular settlement in June, stood at Rs 32,305 crore for Central GST and Rs 35,087 crore for the State GST.

July 1, 2020

Manpasand Beverages sell-off continues, hits record low

Since May 24, Manpasand scrips have lost over half of its value. On Thursday, the scrips hit Rs 57.10 a share, declining by Rs 6.30 or 9.94 per cent.

May 30, 2019

West Bengal likely to exceed overall CGST collection for the entire fiscal: Official

The overall CGST collection for the entire fiscal from the state is expected to exceed the Rs 18,000-crore target for the financial year ending March 2019.

February 16, 2019

Rs 94726 crore collected as GST revenue in December 2018

After regular settlement, the Centre and the states have earned a total revenue of Rs. 43,851 crore for CGST and Rs 46,252 crore for the SGST in the month of December 2018

January 1, 2019

Government collects Rs 7.41 lakh cr GST in FY18

India collected Rs 7.41 lakh crore in taxes in the first year of the Goods and Services Tax (GST) with revenues for a good part of four months not being accounted for because of the mid-year rollout and an accounting lag. The government had last reported a GST collection of Rs 7.17 lakh crore for...

April 27, 2018

Punjab Cong MPs demand CGST waive off on Langar

The Members of Parliament (MPs) from Punjab staged a protest above the party lines on Wednesday outside Parliament while demanding to waive off the Central Goods and Service Tax (CGST) on Langar. The protest was jointly held by the Congress and Shiromani Akali Dal (SAD) MPs from Punjab including Congress MPs Santokh Chaudhary, Gurjeet Singh...

April 4, 2018

No GST on second hand goods if sold cheaper than purchase price

The buying and selling of second hand goods will not attract Goods and Services Tax (GST) if sold at a price cheaper than the purchase price, the government said on Saturday. Rule 32(5) of the Central Goods and Services Tax (CGST) Rules, 2017, provides that where a taxable supply is provided by a person dealing...

July 15, 2017

CGST won’t apply on items not registered under trademark law

The finance ministry on Wednesday said that 5 per cent CGST will not apply on products that are not registered under the Trade Marks Act. “Unless the brand or trade name is actually on the Register of Trade Marks and is in force under the Trade Marks Act, 1999, CGST (Central Goods and Services tax)...

July 5, 2017