Brand Updates

 
Rs 37 lakh penalty on Samsung for not passing GST credit

Tuesday, March 3, 2020, 10:20 AM

Rs 37 lakh penalty on Samsung for not passing GST credit

The National Anti-profiteering Authority (NAA) has ordered Samsung to pay up Rs 37.85 lakhs for not passing on the benefits of lower goods and services tax (GST) rate to consumers on televisions. The authority noted, “The prices of the products affected by the rate reduction were not decreased commensurately, hence violating section 171(1) of the CGST Act 2017,” in its order dated February 27. The NAA further said in its order that Samsung India had increased prices for appropriating the tax reduction 'with the intention of denying the benefit to consumers.' The GST Council has reduced rates on LED/LCD TV sets to 18% from 28% from January 1, 2019.

Scam Alerts

 
GST fraud worth Rs 900 crore busted

Thursday, December 26, 2019, 6:45 PM

GST fraud worth Rs 900 crore busted

A GST fraud of a whopping Rs 900 crore in which input tax credit to the tune of Rs 152 crore was availed in Tamil Nadu has been busted, a top official of the Directorate General of Goods and Service Tax Intelligence said. In one of the major operations, the sleuths of DGGI, Chennai Zonal Unit (CZU), carried out a search on 19 and 20 December at multiple premises in the state and unearthed the fraud of about Rs 900 crore. A string of firms was created and GST registrations were done for them using identity documents of gullible people, Principal Additional Director General, CZU, DGGI, K Anpazhakan, said in an official release. Fake invoices were issued by such fictitious firms and fraudulent input tax credit of around Rs.152 crore was availed by various firms, he said.

Blog

 
6 Banking services which attract GST in India

Friday, January 4, 2019, 6:14 PM

6 Banking services which attract GST in India

Even though it's been 18 months since Goods and Services Tax (GST) was launched in India, many people are still not sure on which services offered ...

Blog

 
IndianMoney Review: How To File Complaint Against GST Fraud?

Friday, December 14, 2018, 6:39 PM

IndianMoney Review: How To File Complaint Against GST Fraud?

Goods and Services Tax or GST came into effect in India on July 1st, 2017. GST replaced all the indi ...

Blog

 
How to get a Digital Signature?

Friday, October 5, 2018, 7:23 PM

How to get a Digital Signature?

We live in a World where everything is going digital and carrying out our day to day activities has become really easy and smooth. With the advent of ...

Blog

 
Implications Of GST On Different Financial Services

Tuesday, June 5, 2018, 7:47 PM

Implications Of GST On Different Financial Services

Financial services on which GST is charged In a set of FAQs on the applicability of Goods and Ser ...

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