ITC frauds under GST rise 170% in just nine months of FY20
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According to a Parliamentary Committee report, tabled on Thursday, the number of ITC fraud cases, based on fake invoices during April-December of this fiscal, surged to 5,986.
This number was 2,211 in the 12 months of 2018-19. In terms of amount involved, the first nine months of this fiscal recorded over Rs.13,000 crore while recovery was nearly Rs.550 crore.
During 2018-19, the total quantum was nearly Rs.10,400 crore, while recovery was a little over Rs.800 crore. #casansaar (Source - The Hindu Business Line)
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