Goods and Services Tax – GST Dated:- 13-7-2021 – News – Misuse of the beneficial provision of Input Tax Credit (ITC) under GST regime is the most common modus of evasion under the GST Law. The field formations of the Central Board of Indirect taxes and Customs (CBIC) have been regularly detecting such cases from very beginning of the GST regime. During the financial year 2020-21 the CGST zones and the Directorate General of GST Intelligence (DGGI)have booked about 8000 cases involving fake ITC of over ₹ 35000 crore . During the financial year 426 persons including 14 professionals such as CAs, Lawyers and masterminds, beneficiaries, directors etc were arrested. Considering the high proportion of fake ITC availment and utilisat
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ligence and CGST Zones under CBIC have during the current financial year detected more than 500 cases involving 1200 entities and arresting 24 persons. The number of arrests made by officers of CBIC is one of the highest in recent times. CBIC officers are using latest IT tools, digital evidence and also collecting information from other government departments to catch the fraudsters . Along with legislative and procedural changes in the law, the nationwide drive has contributed to better compliance and revenue collection. During the drive, cases of fake ITC availment against some well-known companies were also booked. Some of the notable cases booked recently include a case by DGGI Nagpur Zonal Unit against three firms inv
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C to various iron and steel units based in Himachal Pradesh, Punjab and Haryana, searches were conducted at multiple premises in Himachal Pradesh (Baddi) and Punjab where incriminating evidences in the form of laptop containing incriminating e-mails, pen drives, mobile phones evidencing fraudulent transactions were resumed. Similarly a case of fraudulent ITC was also booked by DGGI Surat Zonal Unit in which non existent firms were found to be engaged in supply of invoices and passing on illegal ITC to the tune of ₹ 300 crore. CGST Jaipur Zone, detected a case involving multiple fake firms for availment/passing on fraudulent ITC of Rs. more than 100 crore in which three persons were arrested. In another case of ITC fraud, CGST
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