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Tax policemans have actually spotted regarding 18,000 phony business signed up under GST which have actually been associated with tax obligation evasion
The federal government has actually been taking targeted activity to examine phony GST enrollment and even more physical confirmation is happening.
Detection of Fake Companies Under GST: Tax policemans have actually spotted regarding 18,000 phony business signed up under GST which have actually been associated with tax obligation evasion of around Rs 25,000 crore, an authorities stated.
Nationwide Drive Against Fake Registrations
In the lately ended all-India drive versus phony business, GST policemans had actually recognized 73,000 business that they believed of being established just to get input tax obligation credit score (ITC) with no real sale of items and consequently rip off the exchequer.
Outcomes of the Second All-India Drive
“We had actually recognized around 73,000 GSTINs for confirmation in the 2nd all-India drive versus phony enrollments. Of this, around 18,000 were located to be non-existent. They were associated with tax obligation evasion of around Rs 24,550 crore,” the official told news agency PTI.
Voluntary GST Payments
Voluntary GST payments of about Rs 70 crore were made by companies during the special drive.
Government’s Ongoing Efforts
The government has been taking targeted action to check fake GST registration and more physical verification is taking place. The second all-India drive against fake registration began on August 16 and continued till October end.
Results from the First Drive
In the first drive against fake registration between May 16, 2023, and July 15, 2023, a total of 21,791 entities having GST registration were discovered to be non-existent. An amount of Rs 24,010 crore of suspected tax evasion was detected during the first special drive last year.
(With company inputs)
