Thousands of entities and their beneficiaries that allegedly created multiple shell firms to represent fake transactions without any underlying goods and services for availing of input tax credit (ITC) are under the scanner of tax authorities. Goods and services tax (GST) officials have prepared a detailed list in this regard and will target such entities.
Source: a2ztaxcorp.com
Latest Posts in "India"
- GST Success Hinges on Single Tax Rate, Report Recommends Two Slabs and Capped Peak Rate
- Uncertainty in GST Treatment for Ride-Hailing Platforms: Legal Challenges and Implications
- 56th GST Council meeting is scheduled for September 3rd and 4th, 2025
- Eight States Demand GST Rate Cuts Be Tied to Revenue Guarantee and Consumer Benefits
- CII Urges Corporates to Transfer GST Rate Cut Benefits to Consumers Before Festive Season
