Highlights

  • Major foreign airlines face ₹57,000 crore GST evasion crackdown
  • The government emphasizes dismantling tax evasion networks, ensuring nationwide compliance

Latest news

Russian missile barrage on Kyiv kills one, damages diplomatic missions

Russian missile barrage on Kyiv kills one, damages diplomatic missions

2,200 cases of violence against Hindus, other minorities in Bangladesh: Govt

2,200 cases of violence against Hindus, other minorities in Bangladesh: Govt

Holiday special train begins on UNESCO world heritage Shimla-Kalka railway line

Holiday special train begins on UNESCO world heritage Shimla-Kalka railway line

Poco M7 Pro 5G Review: Best Budget champ? Check Pros and Cons

Poco M7 Pro 5G Review: Best Budget champ? Check Pros and Cons

Parliament's session ends amid deepening political animosity, records low productivity

Parliament's session ends amid deepening political animosity, records low productivity

Indian Stock Market Indices: Sector Analysis Performance Today - 20 December, 2024

Indian Stock Market Indices: Sector Analysis Performance Today - 20 December, 2024

Global Stock Market Indices: How the World Markets Performed Today - 20 December, 2024

Global Stock Market Indices: How the World Markets Performed Today - 20 December, 2024

NSE Nifty 50 Top Gainers: What are the 5 Biggest Stock Gainers Today (Dec 20)?

NSE Nifty 50 Top Gainers: What are the 5 Biggest Stock Gainers Today (Dec 20)?

DGGI cracks down on major foreign airlines in India: Conducts searches at their offices

DGGI cracks down on tax evasion by major foreign airlines, uncovering ₹57,000 crore GST fraud. 1,040 fake ITC cases detected, leading to 91 arrests

DGGI cracks down on major foreign airlines in India: Conducts searches at their offices

In a major crackdown, officials from the Directorate General of GST Intelligence (DGGI) have conducted extensive search operations at the Indian offices of several foreign airlines, including Etihad, Emirates, Saudi Airlines, Qatar Airways, Air Arabia, Oman Air, and Kuwait Airways. The searches, conducted on October 18, were part of an investigation into alleged tax evasion concerning the import of services from the airlines' head offices by their Indian branch offices.

DGGI has alleged that these carriers evaded taxes by booking expenditures, such as lease rentals, crew charges, and fuel charges, to their head offices and not charging the same to their Indian branches. According to Goods and Services Tax (GST) regulations, transactions between a foreign airline's head office and its Indian branch office must adhere to specific tax guidelines. Even if there is a supply without consideration within a company's head office and branch office, it is deemed as a supply for tax purposes under the Central Goods and Services Tax (CGST) Act.

The Finance Ministry revealed that the DGGI has uncovered GST evasion amounting to ₹57,000 crore from April 2020 to September 2023, involving over 6,000 fake instances of input tax credit (ITC) claims. This investigation has led to the apprehension of 500 individuals involved in tax evasion schemes.

In the ongoing financial year (2023-24), the DGGI has detected 1,040 fake ITC cases amounting to ₹14,000 crore, leading to the apprehension of 91 fraudsters. The Finance Ministry emphasized the importance of identifying and apprehending the masterminds behind these tax evasion schemes, highlighting the government's efforts to disrupt syndicates nationwide.

To combat GST evasion, the DGGI has employed advanced data analysis tools and its intelligence network to collect information. The government has detected a total of ₹1.36 lakh crore as overall GST evasion, including fake ITC claims, in the fiscal year 2023-24. Additionally, voluntary payments of ₹14,108 crore have been made to address these issues, underscoring the government's commitment to curbing tax fraud and ensuring compliance with GST regulations.

Also Watch: DGGI issues ₹39 crore GST notice to Star Health and Allied Insurance

ADVERTISEMENT

Up Next

DGGI cracks down on major foreign airlines in India: Conducts searches at their offices

DGGI cracks down on major foreign airlines in India: Conducts searches at their offices

Global Stock Market Indices: How the World Markets Performed Today - 20 December, 2024

Global Stock Market Indices: How the World Markets Performed Today - 20 December, 2024

NSE Nifty 50 Top Gainers: What are the 5 Biggest Stock Gainers Today (Dec 20)?

NSE Nifty 50 Top Gainers: What are the 5 Biggest Stock Gainers Today (Dec 20)?

Nifty 50: Top losers today - 20 December 2024

Nifty 50: Top losers today - 20 December 2024

Rupee recovers from all-time low, gains 10 paise to 85.03 against US dollar

Rupee recovers from all-time low, gains 10 paise to 85.03 against US dollar

Trump threatens tariffs if EU doesn't buy more oil, gas

Trump threatens tariffs if EU doesn't buy more oil, gas

ADVERTISEMENT

editorji-whatsApp

More videos

Honda Cars to hike vehicle prices by up to two per cent from Jan 2025

Honda Cars to hike vehicle prices by up to two per cent from Jan 2025

Global stocks struggle amid inflation, economic fears: December 19, 2024 analysis

Global stocks struggle amid inflation, economic fears: December 19, 2024 analysis

India's electric vehicle market to reach Rs 20 lakh crore by 2030, says Nitin Gadkari

India's electric vehicle market to reach Rs 20 lakh crore by 2030, says Nitin Gadkari

Mallya Calls for Justice Over Excess Debt Recovery and Legal Inconsistencies

Mallya Calls for Justice Over Excess Debt Recovery and Legal Inconsistencies

UK PM Keir Starmer hosts Indian business chiefs to boost investments

UK PM Keir Starmer hosts Indian business chiefs to boost investments

Bangladesh Government Plans to Renegotiate Power Deal with Adani Power, Citing Unfair Terms

Bangladesh Government Plans to Renegotiate Power Deal with Adani Power, Citing Unfair Terms

New Zealand falls into recession with abrupt economic slowdown

New Zealand falls into recession with abrupt economic slowdown

Dollar Pushes Indian Rupee to Record Low of 85, Fed's Policy Outlook in Focus

Dollar Pushes Indian Rupee to Record Low of 85, Fed's Policy Outlook in Focus

Oil Prices Rally on Inventory Drop, Market Awaits Fed Projections

Oil Prices Rally on Inventory Drop, Market Awaits Fed Projections

SEBI Expands UPSI Definition, Strengthens ESG and Governance Frameworks

SEBI Expands UPSI Definition, Strengthens ESG and Governance Frameworks

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.