The 57th GST Council meeting, originally scheduled for September 12, has been postponed due to the BRICS Summit clash and is now likely to be held on October 7 in New Delhi. Preparatory meetings of GST officers are set for October 5–6. The Council, chaired by Finance Minister Nirmala Sitharaman, will deliberate on pending issues like input tax credit, refunds, and compliance.
According to the EOW, the accused allegedly ran fake firms to generate bogus GST invoices and claim wrongful Input Tax Credit without actually supplying any goods or services.
Central GST officials in Delhi have busted a Rs 31.95 crore fake Input Tax Credit fraud involving a company that claimed credit using fake invoices. The firm’s director was arrested, and investigations revealed links to multiple fictitious firms
Tax officials said the company was involved in availing input tax credit (ITC) without actual receipt of goods and also passing it to others without actual supply of goods which is illegal.
Mahindra & Mahindra Ltd on Friday said it has been imposed a penalty of over Rs 14.3 lakh for incorrect input tax credit availed during the transition from the excise regime to the GST regime.
