@abhishekrajaram's Latest X Threads

In the last Apr-May months cases of GST evasion were detected across all states and union territories in India. ➡️The most common types of GST evasion detected were: 🔺False invoicing 🔺Non-registration of businesses 🔺Under-reporting of sales 🔺Non-payment of taxes

GST evasion of Rs 14k crore detected in April-May In the first two months of 2023-24, the Centre has detected 2,784 cases of GST evasion involving Rs 14,302 crore and has recovered Rs 5,716 crore, finance minister Nirmala Sitharaman informed the Lok Sabha in a written reply.

🚩GSTN Launches New e-Invoice Exemption Declaration Functionality ✅The Goods and Services Tax Network (GSTN) has launched a new e-Invoice Exemption Declaration functionality on its e-Invoice portal.

Indian units of foreign companies face GST queries on ESOPs

Unveiling India's Top-5 States plagued by GST fake billing. Here is the ranking of the states with the most fake billing cases detected under GST in India:

The Challenges and Benefits of e-invoicing for Businesses E-invoicing Mandated for Businesses with Turnover of Rs 5 Crore or More from August 1

List of Long Weekends: August 12th, 13th, 14th, 15th, 16th August: Saturday, Sunday, Monday, Tuesday, Wednesday [Independence Day] 29th, 30th, 31st August: Tuesday, Wednesday and Thursday [Onam and Rakshabandhan] Plan accordingly

Kicking off from 1st August 2023 for turnover of Rs. 5 Crores or more. E-invoicing is a system of generating and transmitting invoices in electronic format.

➡️ The GST Council will clarify the rules on online gaming, casinos and horse racing on August 2, including those that use virtual digital assets (VDAs) such as cryptocurrency.

Avoid these common errors while filing your Indian Income Tax Return! 🚫💰 Learn from the mistakes of others and file your returns like a pro. Here are 10 key mistakes to avoid 👇🧵 You all are free to copy and paste this and share it in your circle with your name also.