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GST Officers Uncover Over 29,000 Fake Firms Making Fraudulent Claims

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Between April to December 2023, GST officers uncovered 29,273 fake companies that made fraudulent Input Tax Credit (ITC) claims of Rs 44,015 crore. This investigation into fake company registrations helped save Rs 4,646 crore in tax revenue.

In just the October-December quarter, 4,153 bogus firms were detected with estimated ITC evasion of around Rs 12,036 crore. Central GST authorities found 2,358 of these fake companies. Maharashtra had the most bogus firms at 926, followed by Rajasthan (507), Delhi (483) and Haryana (424). The action in the December quarter alone protected Rs 1,317 crore of revenue.

मनोरंजन