CGST authorities bust input tax credit fraud of more than 31,000 crore involving more than 7,200 cases in FY 2020-21
GST
Dated:- 3-8-2021
The Goods and Services Tax authorities have unearthed over ₹ 31,000 crore of tax fraud committed by misuse of input tax credit (ITC) provision under the Goods and Services Tax (GST) regime during the financial year 2020-21 and booked more than 7,200 cases involving fake ITC. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha today.
Giving details, the Minister stated Input Tax Credit (ITC) fraud detected by CGST formations under Central Board of Indirect Taxes & Customs (CBIC) as following:
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