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Pune businessman held for issuing Rs 110 crore bogus invoices

Pune businessman held for issuing Rs 110 crore bogus invoices
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Last Updated: Feb 16, 2021, 08:58 AM IST
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Synopsis
The accused identified as Babusha Sharnappa Kasbe also passed input tax credit to registered firms of Rs 16.86 crores without delivery of the goods and services, Maharashtra GST Department said in a statement on Monday.
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PUNE (Maharashtra): Maharashtra Goods and Services Tax (GST) officials have arrested a businessman from Pune for issuing bogus invoices amounting to Rs 110 crores. He has been sent to judicial custody till February 25.
The accused identified as Babusha Sharnappa Kasbe also passed input tax credit to registered firms of Rs 16.86 crores without delivery of the goods and services, Maharashtra GST Department said in a statement on Monday. ....

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GST | Budget 2021: FM does away with the need for GST Audit for a section of taxpayers

Budget 2021: FM does away with the need for GST Audit for a section of taxpayers
Synopsis
This will bring relief to SMEs that are struggling with the requirement for audits under numerous laws.
A least expected yet positive development for the industry from the Union Budget 2021 is the omission of the requirement for GST Audit/ certification by a Chartered Accountant or Cost Accountant.
As in the cases of Companies Act, Income Tax Act and the erstwhile VAT laws, the GST Law also mandated the concept of an audit of annual accounts for a specified class of taxpayers by a professional. ....

Companies Act Income Tax , Central Goods Services , Union Budget , Chartered Accountant , Companies Act , Income Tax Act , Under Section , Central Goods , நிறுவனங்கள் நாடகம் வருமானம் வரி , மைய பொருட்கள் சேவைகள் , தொழிற்சங்கம் பட்ஜெட் , பட்டய கணக்கர் , நிறுவனங்கள் நாடகம் , வருமானம் வரி நாடகம் , கீழ் பிரிவு , மைய பொருட்கள் ,