DGGI Detects 1,700 fraudulent ITC cases Involving Rs. 18,000 crore with 98 arrests

In the current Financial Year 2023-24 (up to December 2023), 1,700 fake ITC cases involving Rs. 18,000 crore have been detected and 98 fraudsters/masterminds have been apprehended by the Directorate General of GST Intelligence (DGGI). In the current financial year, the Directorate General of GST Intelligence (DGGI) has laid special emphasis to identify and apprehend […]

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₹1,72,129 Crore Gross GST Revenue For January 2024

The gross GST revenue collected in the month of January, 2024 (till 05:00 PM of 31.01.2024) is ₹1,72,129 crore, which shows a 10.4% Year-o-Year (Y-oY) growth over the revenue of ₹155,922 crore collected in January 2023 (till 05:00 PM on 31.01.2023). Notably, this is the second highest monthly collection ever and marks the third month in this financial […]

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Extension for Reporting opening balance for ITC Reversal

The CBIC has extended the period until 31.01.2024 for reporting the opening balance of ITC reversal. Therefore, In order to facilitate the taxpayers in correct and accurate reporting of ITC reversal and reclaim thereof and to avoid clerical mistakes, a new ledger namely Electronic Credit and Re-claimed Statement was introduced on the GST portal. This […]

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