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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

<h2>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</h2>

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: <a href="https://www.editorji.com/business-news/dggi-issues-39-crore-gst-notice-to-star-health-and-allied-insurance-1696935484012">DGGI issues ₹39 crore GST notice to Star Health and Allied Insurance</a>

Star Health faces ₹38.99 crore GST demand, shares drop. The company vows timely response. Indian insurance sector under pressure as tax scrutiny intensifies, challenging industry dynamics

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

<h2>Star Health faces ₹38.99 crore GST demand, shares drop. The company vows timely response. Indian insurance sector under pressure as tax scrutiny intensifies, challenging industry dynamics</h2>

Star Health and Allied Insurance, a prominent insurance company, is facing a hefty tax demand of ₹38.99 crore from the Directorate General of GST Intelligence (DGGI), as reported in its recent filing with the Bombay Stock Exchange (BSE) on Monday.
The notice, issued under Section 74(5) of the Central Goods and Services Tax Act, 2017, alleges non-payment of GST liability on premiums received by the company during the period from July 2017 to March 2023, under a coinsurance arrangement.&nbsp;
Star Health and Allied Insurance has confirmed its intention to respond to the GST show cause notice within the stipulated timeframe, as per the filing. Notably, the company's shares have experienced a decline of 0.63% Year-to-Date and a significant 19.12% drop in the past year.
This development comes after a previous notice in August when the company was directed by the GST department in Chennai to pay ₹104 crore in taxes due to discrepancies in returns filed during the fiscal year 2019-20. These discrepancies were related to output and input mismatches, as well as variations in ineligible tax credits (ITC), as disclosed in the company's filing.
Additionally, in recent days, another insurance company, Reliance General Insurance Company (RGIC), also faced multiple show cause notices from the DGGI, totalling ₹922.58 crore. One of these notices, amounting to ₹478.84 crore, concerned tax payment on re-insurance commission booked through re-insurance services ceded to various Indian and foreign entities.
The insurance sector in India is undergoing increased scrutiny from tax authorities, with companies like Star Health and RGIC grappling with significant GST demands, indicating a challenging period for the industry.

The government on Wednesday eased norms for foreign Covid vaccines. The Drugs Controller General of India Dr VG Soman announced that vaccine...

Central government eases norms for foreign approved Covid-19 vaccines

The government has eased norms for foreign Covid vaccines. The vaccines approved by specific countries and the WHO no longer require local trials and batch testing

Govt eases norms for foreign approved Covid vaccines

The government on Wednesday eased norms for foreign Covid vaccines. The Drugs Controller General of India Dr VG Somani announced that vaccines approved by specific countries and the World Health Organisation no longer require post-approval bridging trials. The apex drug regulator has also waived the requirement of testing every batch of foreign-made Covid-19 vaccines by the Central Drugs Laboratory, Kasauli. The decisions come in the backdrop of Pfizer and Cipla putting forth similar demands during negotiations to supply imported vaccines to India. The decision, it was said, had been taken because of the "huge vaccination requirements in India in the wake of the recent surge in Covid-19 cases"

The government on Wednesday eased norms for foreign <a href="https://www.editorji.com/covid-19" target="_blank">Covid vaccines</a>. The Drugs Controller General of India Dr VG Somani announced that vaccines approved by specific countries and the World Health Organisation no longer require post-approval bridging trials.
The apex drug regulator has also waived the requirement of testing every batch of foreign-made Covid-19 vaccines by the Central Drugs Laboratory, Kasauli.
The decisions come in the backdrop of Pfizer and Cipla putting forth similar demands during negotiations to supply imported vaccines to India.
The decision, it was said, had been taken because of the "huge vaccination requirements in India in the wake of the recent surge in Covid-19 cases"
Also Read | <a href="https://www.editorji.com/story/why-start-centres-when-not-enough-vaccine-asks-delhi-hc-1622627407266" target="_blank">Why start centres when not enough vaccine, asks Delhi HC</a>

Oxford vaccine India trial on hold after DGCI notice

Phase 2 of Covid-19 trials being conducted across 17 sites in India have now been paused till further instructions from the regulator.

Serum pauses COVID vaccine trials till further DGCI instructions

Phase 2 of Covid-19 trials being conducted across 17 sites in India have now been paused till further instructions. &nbsp;DCGI on Wednesday issued a show-cause notice to Serum Institute of India for not informing about AstraZeneca suspending the clinical trials of the Oxford vaccine candidate in other countries, and also for not submitting casualty analysis of the "reported serious adverse events".&nbsp;&nbsp;
Following a scathing show-cause notice from the drug regulator, the Serum Institute of India has paused trials till further instructions from the Drug Controller General of India.

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