DGGI ENFORCEMENT ACTIONS
DGGI blocks 357 illegal online gaming websites, attaches 2,400 bank a/cs
The Finance Ministry has blocked 357 websites of illegal offshore online gaming firms and frozen around 2,400 bank accounts. The crackdown targets 700 e-gaming companies under the GST Intelligence radar for tax evasion. Public is urged to avoid engaging with these platforms, despite celebrity endorsements.
Enforcement actions against online money gaming firms intensified ahead of IPL season
The Directorate General of Goods and Services Tax Intelligence (DGGI) has intensified enforcement against 700 offshore online gaming entities evading GST. The crackdown includes blocking 357 illegal websites and freezing bank accounts linked to these entities. The public is advised to avoid engaging with such platforms due to financial and security risks.
DGGI lens on 700 offshore online money gaming cos ahead of IPL
The DGGI has intensified actions against offshore online gaming entities engaging in illegal betting as the IPL begins. Approximately 700 entities are under scrutiny, with 357 websites blocked and 2,000 bank accounts provisionally attached. The department also arrested three persons linked to facilitating online money gaming in India.
Got a GST violation notice? Check the notice as it can be fraudulent notice as well
CBIC warns taxpayers about fraudulent GST summons issued by impostors. Taxpayers should verify documents' authenticity through the CBIC website's 'VERIFY CBIC-DIN' feature and report any fakes to authorities promptly.
How ED using social media to crack cases from online betting to money laundering
The Enforcement Directorate (ED) has been commended by the Financial Action Task Force for its efforts in combating money laundering and terrorist financing. The ED has used social media and news outlets to crack down on illegal activities, seizing assets worth over ?83,400 crore. India is also focusing on regulating online gaming companies under anti-money laundering frameworks.
Inter-dept panel may be set up to ensure compliance by online gaming platforms
An inter-departmental committee may be formed to regulate online gaming platforms and ensure compliance, according to a DGGI report. The GST intelligence wing has taken action against 118 domestic entities and issued notices involving Rs 1,10,531.91 crore. Offshore entities are also under investigation for non-compliance.
Real money gaming sector tops GST evasion list
The Directorate General of GST Intelligence has identified the real money online gaming sector as a major tax evasion area, detecting Rs 1.10 lakh crore in evasion. Offshore entities based in tax havens pose significant challenges. The agency recommends a multi-agency approach and public awareness to tackle this issue effectively.
Infosys vs $4 billion GST: CBIC sensitises officials about June circular as tax experts bat for clarity
On July 30, Bengaluru-headquartered tech firm Infosys received a Rs 32,403 crore pre-show cause notice from the Directorate General of GST Intelligence (DGGI) for “non-payment of Integrated GST on import of services” from its foreign branches for the period July 2017, when GST was rolled out, to the FY22.
GST Revenue Leak: ICICI Lombard faces ?1,728.9 crore tax demand amid ongoing investigations
ICICI Lombard, a general insurance company, has been served a show-cause notice by a central law enforcement agency for allegedly not paying Rs 1,728.9 crore worth of tax over a period of five years. The Directorate General of GST Intelligence has been investigating 30 insurance companies for GST evasion, with discrepancies amounting to Rs 3,500 crore detected so far. ICICI Lombard had previously received a show-cause notice demanding Rs 273 crore in taxes. HDFC Life also received a similar notice demanding Rs 942 crore in taxes.
Gaming apps converting earnings to crypto, Rs 700 crore moved out of India, reveals GST probe
Parimatch, a Cyprus-based group, sits at the centre of the largest such network under investigation, which even advertises during local sports leagues on TV. The Directorate General of Goods & Services Tax Intelligence has recently dismantled one such network linked to Parimatch, the majority of which use multi-jurisdictional communications and transactions to avoid legal action.
The seven-year glitch: Inside the govt's war to plug the GST leakage
India's Goods and Services Tax (GST) regime needs to plug leakages that cause tax evasion, which has increased in recent years despite stable collections, officials have said. The number of cases of GST evasion detected has increased to about 14,000 this year from 12,574 in 2021-22 and 12,596 in 2020-21. The growing evasion will, however, fuel further growth of GST collection if it can be stopped through efforts such as the use of end-to-end analytics examining entire supply chains and gap analyses of taxes paid in those chains.
GST evasion of Rs 30,000 crore unearthed
The identities of beneficiaries of PM Kisan and other social security schemes were allegedly used to operate 4,000 shell companies and 16,000 fake GST registrations.
Centre, state tax officers launch special drive to identify fake GST registration, curb evasion
The GST Policy Wing had earlier this month written to Principal Chief Commissioners of Central Tax highlighting that fake/ non-genuine registrations are being used to fraudulently pass on input tax credit to unscrupulous recipients by issuing invoices without any underlying supply of goods or services or both.
GST evasion: Taxmen using data analytics to identify 'missing link' in supply chain
The modus operandi adopted by fraudsters included short payment of tax by undervaluing taxable goods and services, wrong availment of exemption notifications, wrong availment of the input tax credit, non-payment of tax on supply of taxable goods and services (clandestine removal), and fraudulent availment of the input tax credit on the basis of invoices from fake cos.
GST evasion of Rs 55,575 crore detected in last 2 years, 719 persons arrested
The GST department is taking steps to curb evasion, including verification of registration, e-way bill requirement, and validation for filing GST returns, and also placed restrictions on the quantum of ITC that can be used by businesses for GST payment.
BharatPe vows to claw back shares of ‘former founder’, sacks employees
While the statement didn't include names, it is clear the company was referring to its cofounder and former managing director Ashneer Grover, who left the company in March after a month-long controversy.
GST officers unearth over Rs 35,000 crore fraud in 2020-21, arrest 426 people
During 2020-21 (April 2020 to March 2021), 426 persons, including 14 professionals such as CAs, lawyers and directors, were arrested.
Fake ITC: Officials arrest 25, book 350 cases in nationwide crackdown
“The actual amount of fake ITCs involved is being ascertained. Searches and investigations are on to identify and apprehend other people who were involved in the racket and also the beneficiaries who used fake invoices to evade goods and service tax (GST), income tax and for carrying out money laundering,” an official said.
Centre, state tax officers can take intelligence based enforcement actions for all purposes: CBIC
The communication was issued in response to reference on whether intelligence based enforcement actions initiated by Central Tax officers against tax payers assigned to state tax administration get covered under the provisions of Central GST Act or a specific notification is required for cross-empowerment. Also, whether a notification is needed if conditions are imposed on powers given to the officers.
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