Gaming and gambling companies received letters of $1 trillion in unpaid GST.

A government official stated on Wednesday that online gambling platforms and casinos have received show-cause notices to recover over ₹1 trillion in goods and services tax (GST). However, the amount to be recovered will depend on the Supreme Court’s decision regarding the dispute. By the end of September, the notices had been sent. The official, … Read more

According to an EU study, a global tax on billionaires might bring in $250 billion a year.

At the moment, compared to people with more modest incomes, billionaires frequently pay significantly less in personal taxes. They accomplish this by putting their money in shell corporations, which protect them from income tax, as the EU Tax Observatory’s 2024 Global Tax Evasion Report emphasises. As part of worldwide efforts to combat tax evasion, the … Read more

Advice for Online Money Gaming Providers Regarding GST Registration & Return

A word of caution Forms GST REG-10 and GSTR-5A must be completed by anyone providing online money gaming services, OIDAR services, or both. According to recent changes made to the CGST/SGST Act, the IGST Act, and the CGST/SGST Rules, anyone outside of taxable territory who supplies online real money gaming to someone inside taxable territory … Read more

Karnataka, Andhra Pradesh, and Telangana Income Tax Raids

The Income Tax Department conducted a thorough search and seizure operation across the states of Karnataka, Andhra Pradesh, Telangana, and New Delhi on October 12, 2023. The operation exposed a complicated web of tax fraud and financial irregularities by focusing on real estate developers, government contractors, and their associates. This article explores the operation’s specifics … Read more

Major Tax Evasion Discovered in Kashmir Valley Income Tax Search Operation

In a recent event, the scenic Kashmir Valley was the site of an enormous search and seizure operation by the Income Tax Department. An established commercial conglomerate with holdings in a number of industries, including cement, steel, glass, plywood, real estate, tourism, textiles, and healthcare was the focus of this operation. On October 9, 2023, … Read more

CGST Employees Are Arrested by the CBI in a Rs. 25,000 Bribery Case

Within the framework of its continuous fight against corruption, the Central Bureau of Investigation (CBI) has made substantial progress. Four Central Goods and Services Tax (CGST) employees, including two Superintendents, an Inspector, and a Tax Assistant, were recently detained on suspicion of participating in a bribery scam for Rs 25,000. This probe was brought on … Read more

GST hiring regulations may be loosened

The establishment of a 28% tax on internet gambling is also anticipated to be discussed by the Council. A person with knowledge of the matter said that the Goods and Services Tax (GST) Council meeting on Saturday will discuss loosening the requirements for selecting members for the planned 31 GST appellate tribunals so that these … Read more