29,273 bogus firms, GST evasion of Rs 44,015 Cr detected since May 2023
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Goods and Services Tax (GST) authorities have detected 4,153 bogus firms involved in suspected evasion of input tax credit (ITC) worth around Rs 12,036 crore during October-December 2023, the Ministry of Finance said in a statement Sunday. While Maharashtra is in the top spot among 36 states and union territories (UT) with the highest number of 926 bogus firms having undertaken suspected tax evasion of Rs 2,201 crore, the evasion incidence has turned out to be higher in Delhi with Rs 3,028 crore of suspected tax evasion by 483 bogus firms.
In terms of fake firms per lakh registered firms, Haryana leads among the states/UTs with 81 bogus firms per lakh registered firms, followed by Delhi with 61 fake firms per lakh registered firms, Rajasthan with 59 such firms per lakh registered firms and Maharashtra with 54 fake firms per lakh registered firms.
Out of the total 4,153 bogus firms detected during the October-December quarter, 2,358 were detected by Central GST authorities. “This has helped protect revenue of Rs 1,317 crore, out of which Rs 319 crore has been realised and Rs 997 crore has been protected by blocking input tax credit,” the Ministry statement said, adding that overall 41 persons have been arrested in these cases, of which 31 arrests were by Central GST Authorities.
GST authorities under the Central Board of Indirect Taxes and Customs (CBIC) along with state/UT governments have been undertaking action against bogus firms to curb frauds and increase compliance. Tax authorities have undertaken special drives on the issue of non-existent/bogus registrations and issuance of fake invoices without any underlying supply of goods and services.
In terms of fake firms per lakh registered firms, Haryana leads among the states/UTs with 81 bogus firms per lakh registered firms, followed by Delhi with 61 fake firms per lakh registered firms, Rajasthan with 59 such firms per lakh registered firms and Maharashtra with 54 fake firms per lakh registered firms.
Out of the total 4,153 bogus firms detected during the October-December quarter, 2,358 were detected by Central GST authorities. “This has helped protect revenue of Rs 1,317 crore, out of which Rs 319 crore has been realised and Rs 997 crore has been protected by blocking input tax credit,” the Ministry statement said, adding that overall 41 persons have been arrested in these cases, of which 31 arrests were by Central GST Authorities.
GST authorities under the Central Board of Indirect Taxes and Customs (CBIC) along with state/UT governments have been undertaking action against bogus firms to curb frauds and increase compliance. Tax authorities have undertaken special drives on the issue of non-existent/bogus registrations and issuance of fake invoices without any underlying supply of goods and services.
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