No Relief For Infosys As Govt Upholds Rs 32,000 Crore GST Claim: Report
7 months, 3 weeks ago

No Relief For Infosys As Govt Upholds Rs 32,000 Crore GST Claim: Report

ABP News  

The government is not considering any relaxation in the tax demand issued to Infosys last month, citing a government source news agency Reuters reported on Tuesday. The government issued a tax demand of over Rs 32,000 crore to Infosys, pertaining to services received from its overseas branches between July 2017 and the 2021-22 fiscal year. Former Infosys board member and Chief Financial Officer Mohandas Pai has vehemently criticised the Rs 32,000 crore Goods and Services Tax demand issued to the software company, calling it the epitome of 'tax terrorism.' Meanwhile, Karnataka authorities have revoked the 'pre-show cause' notice issued to Infosys and instructed the company to provide a fresh response to the Directorate General of GST Intelligence regarding the Rs 32,400 crore GST demand issue.

Tax Demand Cent Reuters Gst Infosys Govt Upholds  crore  rs  source  cent  demand  infosys  gst  32000  govt  upholds  tax  claim  issued  services  relief  report

History of this topic

Taxes have come down after GST regime, says official at outreach programme
1 month, 1 week ago

Taxes have come down after GST regime, says official at outreach programme

The Hindu  

After the introduction of the GST in 2017, the taxes for many goods had come down, said Director General Mahesh Kumar Rustagi here on Friday. Inaugurating a GST outreach programme for MSME sector, organised by the Directorate General of Taxpayer Services, Commercial Taxes Department of Tamil Nadu and Confederation of Indian Industry, he said taxes on many commodities such as …

Mind economy's interest before Revenue's: Sanjay Malhotra to tax officials
3 months, 3 weeks ago

Mind economy's interest before Revenue's: Sanjay Malhotra to tax officials

Live Mint  

New Delhi: Cautioning tax officials to not kill the goose that lays the golden egg in the process of tax collection, revenue secretary Sanjay Malhotra told a gathering of officials that they need to be careful not to hurt the economy’s interests in the hunt for revenue. “This is a very positive development for the industry—it signals the government's intention …

Govt May Withdraw Infosys $4 Billion GST Notice: Report
7 months ago

Govt May Withdraw Infosys $4 Billion GST Notice: Report

ABP News  

The government is likely to withdraw its tax demand notice to Infosys, asking them to pay $4 billion in back taxes, following extensive persuasion by the IT giant and significant criticism from the software services sector, according to a Reuters report citing two government sources familiar with the matter. However, the federal finance ministry now believes that the notice contradicts …

GST: Infosys, foreign airlines, shipping lines may see relief as concerns rise for ‘ease of doing business’, says report
7 months ago

GST: Infosys, foreign airlines, shipping lines may see relief as concerns rise for ‘ease of doing business’, says report

Live Mint  

The Centre is likely to give some GST relief to corporates, including IT major Infosys, foreign airlines and foreign shipping lines, amid growing concerns over ease of doing business, CNBC-TV18 reported, citing sources. It added that the Directorate General of GST Intelligence's spree of notices to Infosys, foreign airlines, and shipping lines is also in focus. Group of Ministers meets …

Infosys' ₹32,000-crore tax demand not to be relaxed by government: Report
7 months, 3 weeks ago

Infosys' ₹32,000-crore tax demand not to be relaxed by government: Report

Hindustan Times  

The government is not considering any relaxation over the ₹32,000-crore tax demand it sent to Infosys Ltd, news agency Reuters citing sources in the know. The tax demand on Infosys is in accordance to GST rules and the company has sought ten days to submit its response after meeting tax officials, the report claimed. Last week GST authorities slapped a …

Infosys gets ₹3,898 crore partial GST tax relief for FY 2017-18 out of the ₹32,403 crore tax notice for 2017-22
7 months, 3 weeks ago

Infosys gets ₹3,898 crore partial GST tax relief for FY 2017-18 out of the ₹32,403 crore tax notice for 2017-22

Hindustan Times  

Infosys Ltd has been given a tax relief of ₹3,898 crore for the financial year 2017-18, the IT major wrote in a company filing to the exchanges on Saturday. Infosys Ltd has been given a tax relief of ₹ 3,898 crore for the financial year 2017-18 “The Company had received and responded to a pre-show cause notice issued by DGGI …

Karnataka Authorities Withdraw Infosys GST Notice, Directs Company To Respond To DGGI
7 months, 3 weeks ago

Karnataka Authorities Withdraw Infosys GST Notice, Directs Company To Respond To DGGI

ABP News  

Karnataka authorities have revoked the ‘pre-show cause’ notice issued to the IT giant Infosys and instructed the company to provide a new response to the DGGI central authority regarding the Rs 32,400 crore GST demand issue. "The company has received a communication from Karnataka State authorities, withdrawing the pre-show cause notice and has directed the company to submit a further …

Infosys says Karnataka authorities have withdrawn ₹32,403 crore GST tax notice
7 months, 3 weeks ago

Infosys says Karnataka authorities have withdrawn ₹32,403 crore GST tax notice

Hindustan Times  

Infosys informed that Karnataka State Authorities have withdrawn the 'pre-show cause' notice and directed the IT firm to submit a further response to the DGGI central authority on the matter. This comes after India's second-largest IT services company said Karnataka GST authorities slapped a ₹32,403 crore notice. Additionally, as per a recent Circular.issued by the Central Board of Indirect Taxes …

Karnataka Authorities Have Withdrawn GST Notice: Infosys
7 months, 3 weeks ago

Karnataka Authorities Have Withdrawn GST Notice: Infosys

News 18  

A day after it received Rs 32,403 crore GST demand, Infosys on Thursday said Karnataka state authorities have withdrawn the ‘pre-show cause’ notice to the company and directed it to submit further response to the Directorate General of GST Intelligence on the issue. In a late evening filing on Thursday, Infosys informed: “The company has received a communication from Karnataka …

After ₹32,000 crore demand to Infosys, government said to mull GST notices to other IT majors
7 months, 3 weeks ago

After ₹32,000 crore demand to Infosys, government said to mull GST notices to other IT majors

The Hindu  

Tax authorities may issue notices soon to more major infotech services firms in a scrutiny of alleged evasion of tax on services by their overseas offices, a government source said, a day after Infosys was slapped with a ₹32,000-crore tax demand. In serving its highest-ever tax demand on Infosys, the government accused the country’s second largest tech services company of …

Former Infosys CFO Criticises Rs 32,000 Crore GST Demand To Firm; Here's What He Said
7 months, 3 weeks ago

Former Infosys CFO Criticises Rs 32,000 Crore GST Demand To Firm; Here's What He Said

ABP News  

Former Infosys board member and Chief Financial Officer Mohandas Pai has strongly criticised the Rs 32,000 crore Goods and Services Tax demand issued to the software company, describing it as the epitome of 'tax terrorism.' The pre-show cause notice issued by Karnataka State GST authorities demanding the payment of Rs 32,403 crore in GST has caused a major shock, given …

Infosys slapped with ₹32,403 crore GST notice for overseas expenses
7 months, 3 weeks ago

Infosys slapped with ₹32,403 crore GST notice for overseas expenses

The Hindu  

GST authorities have slapped a ₹32,403 crore notice on Infosys for services availed by the company from its overseas branches for five years starting in 2017. The Bengaluru-headquartered IT firm said Karnataka State GST authorities have issued a pre-show cause notice for payment of GST of ₹32,403 crore for the period July 2017 to March 2022 towards the expenses incurred …

Infosys share price falls 1% as company gets ₹32,000 crore GST evasion notice: What IT major said
7 months, 3 weeks ago

Infosys share price falls 1% as company gets ₹32,000 crore GST evasion notice: What IT major said

Hindustan Times  

Infosys shares fell almost 1 per cent today after the IT major received a GST notice citing a ₹32,000 crore tax evasion. The Directorate General of GST Intelligence said that Infosys is “liable to pay IGST under reverse charge mechanism on supplies received from branches located outside India to the tune of ₹32,403.46 crores for the period 2017-18 to 2021-22.” …

Infosys gets demand notice of ₹341 crore from income tax department
11 months, 3 weeks ago

Infosys gets demand notice of ₹341 crore from income tax department

Live Mint  

IT giant Infosys said on Monday that it had been issued a tax demand of ₹341 crore by the Income Tax department for the assessment year 2020-21. “Infosys Ltd on March 31, 2024, received order under Section 201 & 201 of the Income Tax Act, 1961 from the Income Tax Department, Government of India for assessment year 20-21 with a …

Finance Minister bats for swift clarity on GST classification issues
1 year ago

Finance Minister bats for swift clarity on GST classification issues

The Hindu  

Finance Minister Nirmala Sitharaman on Monday stressed the urgent need to bring clarity on classification-related issues under the Goods and Services Tax regime, urging tax officials to look into the issue “at the earliest through appropriate channels”. Addressing the first-ever ‘National Conference of Enforcement Chiefs of State and the Central GST Formations’ that will be held twice a year going …

Over 70 GST notices issued to online gaming firms, ₹1.1 tn due
1 year, 3 months ago

Over 70 GST notices issued to online gaming firms, ₹1.1 tn due

Live Mint  

New Delhi: Online gaming companies have been issued 71 show cause notices relating to Goods and Services Tax in FY23 and in the current financial year up to October, minister of state for finance Pankaj Chaudhary informed the Rajya Sabha on Tuesday. However, since these notices are pending adjudication, the respective GST demand is not yet determined under the provisions …

Detected GST evasion of ₹57,000 crore since April 2020: Finance ministry
1 year, 5 months ago

Detected GST evasion of ₹57,000 crore since April 2020: Finance ministry

Hindustan Times  

NEW DELHI: The Directorate General of GST Intelligence has detected Goods and Services Tax evasion of ₹57,000 crore from April 2020 to September 2023 involving over 6,000 fake instances of input tax credit claims leading to the arrest of 500 people, a finance ministry statement said on Wednesday. Detected GST evasion of ₹ 57,000 crore since April 2020: finance ministry …

Dabur gets GST demand notice of ₹320.6 crore
1 year, 5 months ago

Dabur gets GST demand notice of ₹320.6 crore

Live Mint  

FMCG major Dabur has received a Goods and Service Tax demand notice of ₹320.6 crore, a regulatory filing stated on October 17, adding that the company is reviewing the intimation and evaluating the next steps in this matter. “The company has received intimation of tax ascertained as being payable under Section 74 of CGST Act, 2017, wherein GST short paid/not …

DGGI issues GST notices totaling Rs 55k crore to gaming companies
1 year, 6 months ago

DGGI issues GST notices totaling Rs 55k crore to gaming companies

Op India  

Ashneer Grover, co-founder of BharatPe, said on Tuesday, September 26, that an alleged Rs 55,000-crore Goods and Services Tax demand from online gambling companies will not help India attain its goal of being a $5-trillion economy. Milegi sirf vakilo ko fees jo SC mein ise… pic.twitter.com/BB1b9g3R4E — Ashneer Grover September 26, 2023 The Directorate General of GST Intelligence is said …

Infosys Q1 Results: FY24 revenue guidance sharply trimmed to 1-3.5% from 4-7%
1 year, 8 months ago

Infosys Q1 Results: FY24 revenue guidance sharply trimmed to 1-3.5% from 4-7%

Live Mint  

India’s second-largest information technology company Infosys Ltd announced its April-June quarter results for fiscal 2023-24 on July 20, sharply trimming its revenue guidance to 1-3.5 per cent for FY24 from 4-7 per cent amid an increasingly challenging demand environment. Infosys reported a rise of 11 per cent in net profit to ₹5,945 crore, compared to ₹5,360 crore in the corresponding …

Rs 15,000 crore tax evasion detected, over 4,900 fake GST registrations cancelled
1 year, 8 months ago

Rs 15,000 crore tax evasion detected, over 4,900 fake GST registrations cancelled

Op India  

On the 5th of July, a senior tax official stated that the GST authorities have cancelled over 4,900 fake GST registrations, since the 16th of May, 2023. He stated that in the drive against fake registration, till July 4, over 69,600 GST Identification Numbers have been selected for physical verification by field tax officers. Speaking at the ASSOCHAM’s National Conclave …

Finance Minister Nirmala Sitharaman asks CBIC to introduce automated GST scrutiny system by next week
1 year, 10 months ago

Finance Minister Nirmala Sitharaman asks CBIC to introduce automated GST scrutiny system by next week

India TV News  

New Delhi: Finance Minister Nirmala Sitharaman on Saturday asked the Central Board of Indirect Taxes & Customs to increase the taxpayer base and introduce an automated GST return scrutiny system by next week. The average gross monthly GST collection for 2022-23 stood at Rs 1.51 lakh crore and monthly GST revenue collections exceeded Rs 1.4 lakh crore for 12 months …

Infosys says some users continue to face difficulties, working to streamline I-T portal experience
3 years, 6 months ago

Infosys says some users continue to face difficulties, working to streamline I-T portal experience

India TV News  

IT major Infosys on Thursday acknowledged that some users continue to experience difficulties in accessing the income tax portal and assured that it is working expeditiously, in collaboration with the Income Tax Department, to further streamline end-user experience. The Bengaluru-based company, which has drawn flak for glitches continuing months after the launch of the portal in June, said it has …

Role of Infosys in India's Development Crucial, 'Panchajanya' Not Mouthpiece of Sangh, Says RSS
3 years, 6 months ago

Role of Infosys in India's Development Crucial, 'Panchajanya' Not Mouthpiece of Sangh, Says RSS

News 18  

Sunil Ambekar, all-India publicity in-charge of RSS, on Sunday sought to distance the Sangh from the Panchajanya-Infosys controversy, saying the role of the IT giant in India’s development was critical. In an unprecedented attack on IT major Infosys, RSS-affiliated magazine Panchajanya alleged that the Bengaluru-based company may be deliberately trying to destabilise the Indian economy and accused it of helping …

RSS-Linked Journal Accuses IT Giant Infosys of Allying With 'Naxals, Tukde-Tukde Gang'. Here's Why
3 years, 6 months ago

RSS-Linked Journal Accuses IT Giant Infosys of Allying With 'Naxals, Tukde-Tukde Gang'. Here's Why

News 18  

In an unprecedented attack on IT major Infosys, RSS-affiliated magazine Panchajanya alleged that the Bengaluru-based company may be deliberately trying to destabilise the Indian economy and accused it of helping ‘Naxals, Leftists and tukde tukde gang’. The Sangh-linked magazine was slammming Infosys for issues surrounding the Goods and Services Tax portal and the new Income Tax portal of the government …

Panchajanya attacks Infosys on Income Tax portal glitches
3 years, 6 months ago

Panchajanya attacks Infosys on Income Tax portal glitches

The Hindu  

The issues surrounding the Goods and Services Tax portal and the new Income Tax portal of the government of India, developed by the Bengaluru-based software company Infosys, has come under a scathing attack by the RSS-associated magazine Panchajanya. More interestingly, the article then alleges that the Infosys Trust finances many “Left wing” outfits, including fact checking outfits, media portals, that …

Why Infosys Alone Can't be Blamed for Frequent Glitches on Income Tax Filing Portal
3 years, 7 months ago

Why Infosys Alone Can't be Blamed for Frequent Glitches on Income Tax Filing Portal

News 18  

As if India’s image as an investment destination hasn’t suffered enough, the Income Tax department has added its might to make things appear even worse. “Ministry of Finance has summoned Sh Salil Parekh,MD&CEO @Infosys on 23/08/2021 to explain to hon’ble FM as to why even after 2.5 months since launch of new e-filing portal, glitches in the portal have not …

Irked by Glitches in New I-T Portal Even After 2.5 Months, Govt Calls Infosys CEO as Taxpayers Fret
3 years, 7 months ago

Irked by Glitches in New I-T Portal Even After 2.5 Months, Govt Calls Infosys CEO as Taxpayers Fret

News 18  

The Ministry of Finance has summoned Salil Parekh, MD and CEO of Infosys, to seek an explanation about why glitches in the new income tax filing portal have not been resolved, an issue flagged by Finance Minister Nirmala Sitharaman. Addressing shareholders’ questions on the matter, Infosys said it is deeply concerned with the inconvenience caused by the technical glitches in …

Infosys Acknowledged Technical Issues in New Income Tax E-filing Portal: FinMin
3 years, 8 months ago

Infosys Acknowledged Technical Issues in New Income Tax E-filing Portal: FinMin

News 18  

Infosys has acknowledged the technical issues in the new Income Tax portal and some of the initial glitches like slow functioning of the portal and non-availability of certain functionalities have been mitigated, Parliament was informed on Tuesday. In a written reply to a question in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said more than 700 e-mails …

Infosys to resolve major issues with new tax filing portal in a week
3 years, 9 months ago

Infosys to resolve major issues with new tax filing portal in a week

Business Standard  

Infosys to resolve major issues with new tax filing portal in a week Sitharaman asked Infosys to work on the tax portal to make it more "humane and user-friendly" Premium The move comes after FM took cognizance of the problems faced by taxpayers with the I-T portal 2.0, following complaints flooding her Twitter timeline since its launch on June 7 …

GST transactions worth Rs 1 lakh crore being probed
4 years, 3 months ago

GST transactions worth Rs 1 lakh crore being probed

Hindustan Times  

The Directorate General of Analytics and Risk Management, which mines Goods and Services Tax data to expose tax evaders, has compiled a list of over 12,900 business entities, including some big companies and export firms suspected to have availed of input tax credit through fake invoices worth over Rs 1 lakh crore since July 1, 2017, when the new indirect …

Top 25,000 GST Payers of October Yet to File Returns in November, Tax Officers to Send Reminders
4 years, 3 months ago

Top 25,000 GST Payers of October Yet to File Returns in November, Tax Officers to Send Reminders

News 18  

GST officers have identified top 25,000 taxpayers who last month filed GST returns but have not yet done so for November and would personally follow up with them by sending SMS and email communications, sources said. Sources said GST Network, which handles the IT backbone for Goods and Services Tax, along with tax officials would persuade these 25,000 taxpayers who …

Infosys Q2 Net Profit Up 20.5% at Rs 4,845 Cr, Announces Pay Hike with 100% Variable Pay to Employees
4 years, 5 months ago

Infosys Q2 Net Profit Up 20.5% at Rs 4,845 Cr, Announces Pay Hike with 100% Variable Pay to Employees

News 18  

India’s second-largest IT services company Infosys on Wednesday said its consolidated net profit grew by 20.5 per cent to Rs 4,845 crore for the September quarter, and it has raised revenue forecast to 2-3 per cent for FY21. The Bengaluru-based company’s revenues rose 8.5 per cent to Rs 24,570 crore in the quarter under review, from Rs 22,629 crore in …

Infosys sacks 3 employees held on fraud charges
5 years ago

Infosys sacks 3 employees held on fraud charges

India TV News  

Global software major Infosys on Monday sacked three of its techies who were arrested on a bribe charge levelled by the Income Tax Department, said a company official. "The three were arrested for contacting taxpayers and promising to get them tax rebates in lieu of 4 per cent of the total amount involved," Bengaluru South East Division Deputy Commissioner of …

GSTN glitch: Infosys asked to submit resolution plan in 15 days, Nandan Nilekani to make presentation
5 years ago

GSTN glitch: Infosys asked to submit resolution plan in 15 days, Nandan Nilekani to make presentation

Firstpost  

New Delhi: The finance ministry has asked Infosys to provide within 15 days a plan for quick resolution of glitches on the GSTN portal, as it took strong note of the “unresolved” problems and “tardy” progress made over the last two years on multiple issues faced by taxpayers in filing returns. On Saturday, Revenue Secretary held a meeting with top …

Infosys shares jump over 5% after company reports 24% rise in consolidated net profit for December quarter
5 years, 2 months ago

Infosys shares jump over 5% after company reports 24% rise in consolidated net profit for December quarter

Firstpost  

New Delhi: Shares of Infosys on Monday jumped over 5 percent after the company reported a 23.7 percent rise in consolidated net profit for the December quarter. Infosys on Friday said its audit committee has found no evidence of financial impropriety or executive misconduct, virtually giving a clean chit to CEO Salil Parekh and CFO Nilanjan Roy who were accused …

Infosys October-December quarter net profit up 23.7% at Rs 4466 cr; raises FY20 revenue outlook to 10-10.5%
5 years, 2 months ago

Infosys October-December quarter net profit up 23.7% at Rs 4466 cr; raises FY20 revenue outlook to 10-10.5%

Firstpost  

Bengaluru: Country’s second-largest IT services major Infosys on Friday reported a 23.7 percent rise in consolidated net profit at Rs 4,466 crore for the December quarter. The company had posted a net profit of Rs 3,610 crore in the year-ago period, Infosys said in a BSE filing. #3QWithCNBCTV18 | Infosys reports Q3 results with rise in net profit & revenue …

Opinion: Infosys may need some private time to fix itself
5 years, 5 months ago

Opinion: Infosys may need some private time to fix itself

Live Mint  

India’s best-known software exporter is facing an impossible trinity of sorts: Out of sales, margins and governance, Infosys Ltd. can hit only two goals at a time. It’s a deja vu moment for co-founder and non-executive Chairman Nandan Nilekani, who returned to the Bangalore-based company two years ago during a previous crisis — sparked by a set of different anonymous …

Govt detects Rs. 20,000 crore GST evasion in April-Feb FY 2019
6 years, 1 month ago

Govt detects Rs. 20,000 crore GST evasion in April-Feb FY 2019

Live Mint  

New Delhi: The government has detected Rs. 20,000 crore worth Goods and Services Tax evasion so far this fiscal and will take more steps to check frauds and increase compliance, a senior tax officer said on Wednesday. Central Board of Indirect Taxes and Customs Member John Joseph further said the department would soon call a meeting of the representatives of …

Govt detects Rs 20,000-cr GST evasion during April-February FY'19; will take more steps to check frauds
6 years, 1 month ago

Govt detects Rs 20,000-cr GST evasion during April-February FY'19; will take more steps to check frauds

Firstpost  

The earlier GST rate on under-construction apartments and affordable housing was 12 percent and eight per cent with ITC, respectively. New Delhi: The government has detected Rs 20,000 crore worth Goods and Services Tax evasion so far this fiscal and will take more steps to check frauds and increase compliance, a senior tax officer said on Wednesday. The earlier GST …

Declining GST revenues: Tax officials likely to examine high usage of input tax credit
6 years, 1 month ago

Declining GST revenues: Tax officials likely to examine high usage of input tax credit

Firstpost  

During the meeting of the GoM, it was pointed out that as much as 80% of the total GST liability is being settled by ITC and only 20% is deposited as cash New Delhi: Concerned over a decline in GST revenues, tax officials are likely to examine the high usage of input tax credit to set off tax liability by …

Infosys to implement new ITR filing project
6 years, 2 months ago

Infosys to implement new ITR filing project

Live Mint  

New Delhi: IT major Infosys Ltd has been selected to implement the next generation system for processing income tax return filings, with the Union Cabinet sanctioning an estimated ₹ 4,241.97 crore for the project. The Cabinet, chaired by Prime Minister Narendra Modi, gave its “approval to expenditure sanction of ₹ 4,241.97 crore for Integrated E-filing and Centralised Processing Centre 2.0 …

GST evasion worth Rs 12,000 cr detected in 8 months till November, says official
6 years, 3 months ago

GST evasion worth Rs 12,000 cr detected in 8 months till November, says official

Firstpost  

New Delhi: The government has detected GST evasion worth Rs 12,000 crore in 8 months till November, a senior tax official said on Wednesday. Joseph, who looks after an investigation in the CBIC, said almost Rs 8,000 crore worth GST evasion has been recovered by the tax officials. “We need to improve compliance mechanism.” On industry concerns as to whether …

Infosys to design new forms for filing GST returns
6 years, 6 months ago

Infosys to design new forms for filing GST returns

India TV News  

The Goods and Services Tax Network has directed its software vendor Infosys to design new forms for filing returns by traders, said its Group of Ministers Chairman Sushil Kumar Modi on Saturday. "We have directed Infosys to design new forms as suggested by the GST Council to simplify filing returns by traders on the network," Modi told reporters here after …

Infosys to design new forms for filing GST returns
6 years, 6 months ago

Infosys to design new forms for filing GST returns

The Quint  

Bengaluru: Bihar Deputy Chief Minister and GST Group of Ministers for technology Chairperson Sushil Kumar Modi addresses during a press conference, in Bengaluru on Sept 22, 2018. Bengaluru, Sep 22 The Goods and Services Tax Network has directed its software vendor Infosys to design new forms for filing returns by traders, said its Group of Ministers Chairman Sushil Kumar Modi …

Tamil Nadu govt all praise for GST, calls it 'transparent and self-policing tax regime'
6 years, 8 months ago

Tamil Nadu govt all praise for GST, calls it 'transparent and self-policing tax regime'

Firstpost  

Recalling the 1 July, 2017 rollout of the central tax regime subsuming various other taxes into one, Commercial Taxes Minister KC Veeramani said the introduction of GST was a “landmark in the field of indirect tax reform.” Chennai: The Goods and Services Tax on Thursday came in for praise from the Tamil Nadu government in the assembly, with a minister …

Government cracks down on GST evaders
6 years, 11 months ago

Government cracks down on GST evaders

Live Mint  

New Delhi: The government has launched a crackdown on goods and services tax evaders ahead of the end of the fiscal year, signalling it will pursue tax dodgers. The Directorate General of GST Intelligence, the apex intelligence unit under the Central Board of Excise and Customs, has, in an all-India operation that began on Tuesday, detected tax evasion to the …

GST mop-up: Govt now suspects under-reporting of Rs 34,000 crore for July-December 2017
7 years ago

GST mop-up: Govt now suspects under-reporting of Rs 34,000 crore for July-December 2017

Firstpost  

A preliminary analysis of GST returns filed between July and December 2017 shows that the scale of under-reporting could be as high as Rs 34,000 crore. A preliminary analysis of Goods and Services Tax returns filed between July and December 2017 shows that the scale of under-reporting of tax liabilities could be as high as Rs 34,000 crore, according to …

GST Council Meeting LIVE: Some rates cut in 12%, 18% bracket items, says U'khand FM to TV
7 years, 2 months ago

GST Council Meeting LIVE: Some rates cut in 12%, 18% bracket items, says U'khand FM to TV

Business Standard  

The GST Council will cut rates on some products and services under the goods and services tax, the finance minister said on Thursday, in a bid to encourage greater compliance as revenues have dipped since the landmark reform was announced in July. The panel, headed by Finance Minister Arun Jaitley and comprising representatives of all states, at its 25th meeting …

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