From Earning Rs. 1000 Per Month to Become Expert in GST and Helping Professionals Across the Country: Inspirational Story of Tax Concept’s Co-Founder Dhanraj Sharma

Mr. Sharma belongs to a small village of Nagaur District in Rajasthan State. He completed his secondary education from his village and then relocated to a small city for further education. After completing 12th, he moved to Jodhpur city for pursuing CA.

Services Provided by an Indian Firm to Foreign Firm as an Intermediary will be Liable to CGST+SGST Instead of IGST: Gujarat AAR

Ruling Sought for: M/s. Sagar Powertex Pvt. Ltd., Sagar House, Indian Red Cross Society, Nr. Old Vadaj Circle, Ashram Road, Ahmedabad -380013 having a GSTIN: 24AADCS0473P1Z3, is a company filed an application for Advance Ruling under Section 97 of CGST Act, 2017 and Section 97 of the GGST Act, 2017 in FORM GST ARA-01 discharging the fee of Rs. 5,000/- each under the CGST Act and the GGST Act.

Proud: India Shared Some Priorities Under Financial Co-operation Agenda in a Meeting with BRICS Finance and Central Bank Deputies

India hosted a Meeting of BRICS Finance and Central Bank Deputies virtually here today and was co-Chaired by Shri. Tarun Bajaj, Secretary Economic Affairs, Ministry of Finance, and Dr. Michael Patra, Deputy Governor, Reserve Bank of India. Other participants included BRICS Finance and Central Bank Deputies of Brazil, Russia, China and South Africa.

Jodhpur: Fraudster Formed Fake Company in the Name of a Daily Wage Laborer. Investigation Reveals Bogus Billing of Rs. 24 Crore

Nainaram Meghwal, a daily wage laborer from Dungarpur, a small village near Roht in Pali, was turned into a diamond business worth Rs 23.80 crore by the GST fraud gang. Through a NREGA mate, fraudulent documents were obtained, then opened a fake company in his name and started GST theft and bogus billing.

CGST Delhi Arrested 4 More Beneficiaries of Loopholes in GST System

In the ensuing initiative to counter the menace of fake billing operations, the officers of Central Goods and Services Tax (CGST) Commissionerate, Delhi North, on the basis of intelligence developed through extensive data analytics, have unearthed a network of fictitious firms to generate goods-less invoices and pass-on fake Input Tax Credit to multiple beneficiaries. In all, four individuals were arrested in three different cases in terms of Section 69(1) of the CGST Act, 2017 for commission of offences under Section 132 (1) of the CGST Act, 2017. The total Input Tax Credit involved in the three cases is Rs. 178 crore. Further investigations in all the matters are in progress and the amount of fake credit and total number of companies/persons involved are likely to increase.

FASTag Declared Mandatory from Midnight of February 15. Violators to Pay Double Fees

Ministry of Road Transport & Highways has decided that all lanes in the fee plazas on National Highways shall be declared as “FASTag lane of the fee plaza” w.e.f midnight of 15th/16th February 2021. Therefore, as per NH Fee Rules 2008, any vehicle not fitted with FASTag or vehicle without valid, functional FASTagentering into the FASTag lane of the fee plaza shall pay a fee equivalent to two times of the fee applicable to that category.

Have you Reconciled Your Books with GST Returns? If Not, This News is For You!

Department has issued below circular prescribing Standard Operating Procedure (SOP) to be followed in case of suspension of GST Registration due to discrepancy between “GST payable and actual GST paid”. To protect yourself from this type of notice or suspension of registration, please reconcile your books with all GST Returns and pay short-fall in tax with interest. Remember that if you have not filed your GSTR-9/9C for relevant year, the details as available in GSTR-1/ GSTR-3B/ GSTR-2A will be final.

2 GST Frauds Worth Rs. 445 Crore in Only 5 Days

It is apparent from the investigation conducted till date, that Shri Surender Kumar Gupta, Director of M/s. Mystic Exim Pvt. Ltd., M/s. Landmark Traders Pvt. Ltd. and Controller of M/s. JKM Impex forged documents to show receipt of goods in his above mentioned companies/firms from multiple fictitious/non-existent entities, which never existed at their given addresses. The entities of Shri Surender Kumar Gupta had further passed on the fake ITC to multiple exporter firms, who had further encashed such ITC through fraudulent IGST refunds.