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CBDT explains what is 'tax effect' for purpose of filing appeal in cases beyond monetary limitsUS-UK coalition airstrikes at Houthis in Red Sea portPMK joins NDA; to share dais with PM at SalemUK begins hunt for sunken ship loaded with gold worth 4 bn poundsPrivacy at Stake: Evaluating Data Principal Rights in the DPDP Act 2023Delhi regains its title as world’s most polluted cityLitigation Management: CBDT revises instructions and monetary limits prescribed for filing appeal or SLP before courtsUnsettled borders and rise of China major challenges for defence forces, says Chief Anil ChauhanI-T- Rules of natural justice are contravened where notices of hearing are not sent to valid email addresses indicated by assessee & order passed in consequence thereto is invalidated : HCAmerican IRS Chief expects workforce to surpass one-lakh-mark in next 3 yrsI-T - Provisions of Section 148A clearly require that an assessee be granted opportunity of personal hearing & an order passed in non-compliance with this requirement stands vitiated: HCDeloitte LLP goes for restructuring to tamp down costsI-T - If no error is being found by AO qua acceptance and genuineness of transaction of assessee, then AO cannot initiate reopening, and if reopening is not permitted, then CIT cannot issue notice u/s 263: ITATNvidia unfolds powerful chip to retain edge in AI marketI-T - Additions framed u/s 68 were rightly quashed where the assessee has discharged onus of identity, creditworthiness and genuineness of transaction : ITATTrump’s lawyer says Trump has not means to raise bond in USD 464 mn fraud caseI-T- Addition cannot be framed on account of unexplained cash credit, where assessee has recorded the sales in its books and there is no adverse finding qua stock and purchases: ITATFood scarcity: Gaza heading for mass deathsCX - Tax demands merits being quashed where based on oral statements but without permitting Assessee to cross examine the deponents & where also based on circumstantial statements: CESTATBJP decides to go with Chirag Paswan; trashes his uncle Pashupati Paras in BiharST - Being appellant a registered service provider and filing their Service Tax returns, demand cannot be raised on the basis of Form-26AS obtained from Income Tax Department: CESTATDubai Financial Centre frames rules to regulate digital assetsCus - Clearance of domestic household goods without proper clearance, does not warrant disproportionate penalty of Rs 50000/-, as the same is not a case of regular import by an IEC holder: CESTATCBDT directs income tax field offices to remain open on March 29, 30 & 31stCX - In so far as security services for their factory and trading premises was concerned, said services was directly connected with their business and hence, appellant was entitled for credit of service tax paid: CESTAT
 
GST - ITC abuse - father-son duo lands behind bars

By TIOL News Service

NEW DELHI, MAY 24, 2018: THE ghost of abuse of Cenvat credit is back in GST regime also. Nothwithstanding the fact that ITC under GST is a strict regime, fraudsters in the industry & trade seem to be experimenting with new tricks up their sleeves. In a recent case booked by the East Delhi GST Commissionerate, a father-son duo were caught issuing fake ITC invoices to the tune of Rs 28 crores. The fearless duo were finally picked up by the GST sleuths and they have been put in judicial remand for 14 days. It is the first case of arrest in Delhi, under the new tax regime that came into force on July 01, 2017.

Searches were conducted at several places during which various incriminating documents and evidence were found. Investigation that followed revealed involvement of the father and son. Both were arrested under Section 69 (1) of CGST Act and the Chief Metropolitan Magistrate, Patiala House, remanded them to judicial custody for 14 days. It may be noted that u/s 132 of the CGST Act, issuance of an invoice or bill without supply of goods and wrongful availment or utilization of input tax credit is a cognizable and non-bailable offence if the amount involved is over Rs 5 Crores. 


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