Put simply, a tariff is a tax placed on the cost of importing or exporting goods by a certain country. A 60% tariff on Chinese imports would therefore be a 60% tax on the cost to import, say, computer ...

The Directorate General of GST Intelligence (DGGI) has busted an allegedly bogus Input Tax Credit (ITC) claims fraud of Rs ...

The Pune Zonal Unit of DGGI has uncovered a GST evasion scheme involving ₹1,196 crore, arresting one individual. A network of ...

By applying the sales tax only to goods and a small number of services, Illinois is missing the ability to tax much of the ...

DGGI uncovers 1,196 crore tax fraud involving fake invoices, e-way bills, shell entities, and bogus companies.

The fiscal watchdog group lays out a financial road map as Illinois faces its own budget gap and uncertainty about federal ...

The Directorate General of GST Intelligence (DGGI) has unearthed fraudulent Input Tax Credit (ITC) transactions amounting to Rs 1,196 crore by exposing a network of bogus companies and arrested a ...

Authorities have busted a Goods and Services Tax (GST) evasion racket involving a fraudulent input tax credit (ITC) scam of ...

Authorities have busted a Goods and Services Tax (GST) evasion racket involving a fraudulent input tax credit (ITC) scam of Rs 26.92 crore and arrested its “mastermind” in Maharashtra’s Thane district ...

A ministerial panel is considering a 5% GST with input tax credit on term insurance plans. The panel, headed by Bihar deputy ...

Errors can lead to delays in tax refunds. Certain mistakes can even turn a refund into an unexpected tax bill.

Section 110(A) of the Tax Code, as amended, identifies the transactions creditable against output tax. Among the transactions are the purchase or importation of goods for sale, for conversion into or ...