e-Invoicingunder GST is currently the big thing every business is talking about.In this article, we have tried to pinpoint a specific error commonly faced by the businesses while generating their e-Invoices from the IRP portal.
Consistent efforts are being taken to sanitize the taxation system. However, there are cases of tax evasion, ITC frauds, and tax leakages being reported frequently.
The searches, so far, have resulted in the detection of undisclosed income of more than Rs. 1,000 crore. Unaccounted cash of Rs. 1.2 crore has been seized so far.
This list consists of the details of the businesses for which e-invoice generation is made mandatory. The list shows about 70,000+ businesses for which e-Invoicing is made mandatory.
CFA Student Ms. Aditi Sharma has prepared a list of various professional courses, their institutions and domains.
The Income Tax Department is carrying out search and survey operations which started on 03.03.2021 on two leading film production companies, a leading actress and two Talent Management companies in Mumbai. Search operation is being carried out at Mumbai, Pune, Delhi and Hyderabad. The group is mainly engaged in the business of Production of Motion Pictures, Web Series, acting, direction and talent Management of celebrities and other artists. A total of 28 premises are being covered in different locations which includes residences and offices.
The three-judge bench of Justice RF Nariman, Justice BR Gavai and Justice Hrishikesh Roy dismissed the tax department’s appeal and allowed the appeal by the assessees. The victory will impact companies such as Samsung Electronics Co. Ltd., IBM India Ltd., Hewlett Packard India.
The offence committed by the accused Shri Nihaluddin is covered under Section 132(1)(b) of the CGST Act, 2017 which is cognizable and non-bailable offences as per the provision of Section 132(5) and punishable under clause (i) of sub section 1 of Section 132 of the Act ibid. Accordingly, Shri Nihaluddin was arrested under Section 69(1) of the CGST Act, 2017 and produced before the Duty Magistrate on 01.03.2021 who remanded him to judicial custody of 14 days till 15.03.2021. Further investigation in the case is underway.