Six years of GST regime: Rs 27,426 Cr of tax evasion detected but Rs 922 Cr recovered

In six years for the reason that introduction of the Goods and Services Tax (GST), the federal government has detected 5,070 fraud instances of GST registration misusing PAN and Aadhaar particulars of folks to say enter tax credit score (ITC).

These 5,000-odd instances have led to the detection of Rs 27,426 crore of GST evasion. However the restoration has solely been value of Rs 922 crore previously six years.

These figures pertain to the interval between July 1, 2017 (graduation of GST regime) and June 30, 2023.

Among the states, Maharashtra, Delhi, and Tamil Nadu are the highest three in phrases of fraud instances of misuse of GST registration with 765, 713, and 632 instances detected, respectively.

In Maharashtra, Rs 3,889 crore value of GST evasion was detected, whereas solely Rs 171 crore was recovered.

In Delhi, Rs 4,326 crore value of GST evasion was detected, whereas restoration was solely value Rs 159 crore and in Tamil Nadu, Rs 1,877 crore value of GST evasion was detected and the restoration was solely a paltry Rs 44 crore.

Interestingly, between May 16, 2023 and July 9, 2023, an astounding 9,369 bogus entities have been detected by the federal government.

Also Rs 10,902 crore value of GST evasion was detected. However restoration has solely been value Rs 45 crore from these bogus entities.

(With inputs from IANS)