GST evasion by bogus firms was highest in Delhi
Delhi leads in GST evasion by bogus firms, with 483 detected in Q3 FY24, totaling Rs 3,028 crore. Nationwide, 4,153 such firms were found, evading Rs 12,036 crore in input tax credit. Delhi's crackdown resulted in blocking Rs 90 crore in tax credits and 11 arrests. Measures are in place to prevent entry of fake firms.
NEW DELHI: Delhi has earned the dubious distinction of having the highest amount of goods and services tax (GST) evasion by bogus firms in the third quarter of 2023-24 financial year.
According to officials, between Oct and Dec 2023, 483 bogus firms were busted in the capital, which were involved in suspected GST evasion of Rs 3,028 crore. Delhi was third only to Maharashtra (926) and Rajasthan (507) in the number of bogus GST firms that were detected by the authorities in the third quarter of FY24.
They, however, added that the suspected amount of GST evasion in Maharashtra and Rajasthan was estimated at Rs 2,201 crore and Rs 197 crore only, respectively.
