Blog {Team GSTFORCE.COM}

Link to CRP Document 👉 https://t.co/cUiE86Csnc

Ministry of Finance Import clearance time for edible oil comes down significantly to approx. 3-4 days ; there is no clogging of consignments at the ports Posted On: 14 JUL 2021 5:35PM by PIB Delhi The Indian Customs is continuously monitoring the import clearances of edible oils in co-ordination with Food Safety and Standards Authority of India (FSSAI).  It is seen that the import clearance time for edible oil has come down significantly to approx. 3-4 days at present which is the usual time taken for sampling, duty payment and logistics. It is being ensured that there is no clogging at the ports.  To facilitate the trade and expedite the clearances, nodal officers have been nominated in all the Customs Zones and a Standard Operating Procedure has also been put in place for smooth clearance. Customs is also engaging with the Industry Associations regularly.   The following data reveals significant increase in imports of crude palm oil (most significant edible oil imports)...

Ministry of Finance CGST Zones and Directorate General of GST Intelligence booked about 8000 cases involving fake ITC of over Rs. 35000 crore in FY 2020-21 Posted On: 13 JUL 2021 5:12PM by PIB Delhi Misuse of the beneficial provision of Input Tax Credit (ITC) under GST regime is the most common modus of evasion under the GST Law. The field formations of the Central Board of Indirect taxes and Customs (CBIC) have beenregularly detecting such cases from very beginning of the GST regime.  During the financial year 2020-21 the CGST zones and the Directorate General of GST Intelligence (DGGI)have booked about 8000 cases involving fake ITC of over Rs. 35000 crore .  During the financial year 426 persons including 14 professionals such as CAs, Lawyers and masterminds, beneficiaries, directors etc were arrested.  Considering the high proportion of fake ITC availment and utilisation a nation-wide special drive against the fake GST invoice was launched w.e.f. 9th November 2020 whic...

CGST officials bust network of 23 firms for claiming input tax credit of Rs 91 crore Posted On: 11 JUL 2021 10:27AM by PIB Delhi Based upon specific intelligence, the officers of the Anti Evasion branch of Central Goods and Service Tax (CGST) Commissionerate, Delhi (West) have unearthed a case of availment/utilization and passing on of inadmissible input tax credit (ITC) through goods less invoices of Rs 91 crore (approx). The modus operandi involved floating of multiple firms with the intent to avail/utilize & passing on of inadmissible credit. The firms involved in this network are M/s Girdhar Enterprises, M/s Arun Sales, M/s Akshay Traders, M/s Shree Padmavati Enterprises and 19 others. These 23 firms were floated in order to generate goods-less invoices with an intent to pass on fraudulent ITC without paying actual GST to the government. Late Shri Dinesh Gupta, Shri Shubham Gupta, Shri Vinod Jain and Shri Yogesh Goel were associated in the said business of generating/selling fa...