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GST officers detect Rs 4,000 cr of ITC fraud in Apr-Jun
GST officers detected over Rs 4,000 crore of Input Tax Credit ITC fraud in June quarter 2021-22, Parliament was informed on Monday.
In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said 7,268 cases of ITC fraud involving Rs 31,233 crore were detected by the Central GST officers in 2020-21. Necessary steps as mentioned in the GST law are being taken to recover the amount from the tax evaders pertaining to ITC frauds," Chaudhary said.
In the current fiscal year till June, Rs 175.21 crore of ITC fraud has been recovered and 19 show-cause notices (SCN) have been issued.
In 2020-21, 94 SCNs were issued and Rs 2,231.64 crore was recovered.
In April-June 2021, 13 such cases against exporters were booked and the quantum of ITC refund fraud detected was Rs 313.55 crore.
n 2020-21, Rs 434.93 crore worth ITC refund fraud by exporters was detected, while in 2019-20 it was Rs 799.78 crore.
Chaudhary further said though the interface for the taxpayers is on digital and software, tax evaders commit fraud even on electronic platforms by way of mis-representation of facts like furnishing of fake credentials at the time of registration; by indulging in raising fake invoice to avail undue ITC.
"To prevent tax-evasion, various validations have been built in the GSTIN/ CBIC system to weed out tax evaders," he added.
