New Delhi: Over the previous two years, the GST officials have discovered fraud totaling Rs 55,575 crore and have detained more than 700 people for defrauding the exchequer, an official said on Thursday.
The officers of the Directorate General of GST Intelligence discovered over 22,300 bogus GST identification numbers (GSTIN) (DGGI).
The government began a nationwide special campaign against dishonest organisations on November 9, 2020, to stop them from fraudulently claiming and disbursing Input Tax Credit (ITC) and dodging Goods and Services Tax (GST).
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“In the two years of the special drive, GST/ITC fraud worth Rs 55,575 crore has been detected. 719 persons have been arrested, which include 20 CA/CS professionals,” the official told media.
During the time, voluntary GST (Goods and Services Tax) contributions totaling Rs 3,050 crore were made. The official stated there will be a “sizeable amount” recovered in these cases but did not specify how much.
“Credible intelligence, coordination between intelligence agencies like DGGI, DRI, Income Tax, Enforcement Directorate and CBI, have helped us crackdown on tax evaders,” the official said.
The GST administration has implemented measures to prevent evasion, such as registration verification, the requirement for e-way bills, validation for filing GST returns, and limitations on the amount of ITC that can be used by enterprises for GST payment.
On July 1, 2017, a countrywide GST went into effect, replacing 17 local taxes, including VAT, service tax, and excise duty, as well as 13 cessers.
“In the recent years, the department has stepped up action against fake ITC claims. The steps taken by GST officers have definitely improved compliance and that is getting reflected in monthly GST collection,” the official said.
Only April’s mop-up of around Rs 1.68 lakh crore was more than the almost Rs 1.52 lakh crore in GST revenues collected in October, which was the second-highest collection ever.
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For eight consecutive months, the GST mop-up has above Rs 1.40 lakh crore, and for the last two months, it has beyond Rs 1.50 lakh crore.
Officials anticipate that the “new normal” for monthly GST receipts will be Rs 1.50 lakh crore as a result of greater compliance and accelerating economic activity.
The amount of GST revenue in April was around Rs. 1.68 lakh crore, and in May, Rs. 1.41 lakh crore, Rs. 1.45 lakh crore, Rs. 1.49 lakh crore, Rs. 1.44 lakh crore, Rs. 1.48 lakh crore, and in October, Rs (Rs 1.52 lakh crore).
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