The Anti-Evasion Branch of the Central Goods and Services Tax (CGST), Delhi South Commissionerate, has arrested a company director for allegedly fraudulently availing and utilising Input Tax Credit (ITC) exceeding ₹8 crore, in violation of provisions under the CGST Act, 2017. The action forms part of an ongoing enforcement drive targeting ITC fraud. Officials said […]
Clashes intensified in the town of Mahas in the Hiraan region, Hirshabelle state, on 26 July forcing the entire population – over 28,000 people – to flee their homes. Another 38,000 people were displaced in the Gedo region, Jubaland state, between 23 and 26 July, some of whom crossed into Kenya. Security concerns have forced […]
Presented during the UN’s 4th International Conference on Financing for Development, taking place this week in Sevilla, the proposal highlights a growing problem: the richest individuals often contribute less to public finances than ordinary taxpayers, thanks to lower effective tax rates and legal loopholes. “Our countries need more and more public revenues to meet their […]
Sep 17 (IANS) Aiming decriminalisation of offences, the Central Board of Direct Taxes (CBDT) on Saturday issued revised guidelines for compounding of offences under the Income Tax Act, 1961 with reference to various offences covered under its prosecution provisions. Some of the major changes made for the benefit of taxpayers include making the offence punishable under […]
Following uproar in social media that the Good s and services tax (GST) rolled out on July 1, 2017 was against the interests of temple trusts as taxes them heavily while obliterating the presence of Waqf Boards and Churches, the government has clarified that there is no such religious bais in GST. “There are some […]