In a significant breakthrough, the Department of Trade and Taxes, Government of NCT of Delhi, on Sunday uncovered a major case of Goods and Services Tax (GST) refund fraud amounting to approximately ₹14 crore.
Several manufacturing units in Sikkim are under investigation for allegedly availing undue benefits under the Scheme of Budgetary Support, 2017, introduced under the GST regime.
Humayun Kabir Kazi, - the engineer who butchered his parents in Memari had chosen to wear cross-dress during the operation, the forensic experts revealed during their investigations.
This marks the second month in a row that GST revenues have stayed above the Rs 2 lakh crore mark, indicating healthy economic activity and steady consumption growth.
India’s gross Goods and Services Tax (GST) collections for the month of May rose by 16.4% year-on-year to over ₹2.01 lakh crore, according to government data released on Sunday.
Additional borrowing permission has been granted @ 0.50 % of the Gross State Domestic Product (GSDP) to those states who have opted for Option- 1 out of the two options suggested by the Ministry of Finance to meet the shortfall arising out of GST implementation.
The last meeting of the Council a week back did not result in any consensus among the states as although around 20 states opted for the first among the two options offered by the Union Government, 10 states and Union Territories stayed put on their stand that they would not borrow in lieu of the compensation cess.
The relief, however, would be there for relatively smaller businesses.
This led to an overstatement of revenue receipts and understatement of fiscal deficit for the year.
Sitharaman made the statement while replying to a debate on supplementary demands for grants in the Lok Sabha.
