Fake ITC claims detection by GST officers up 51% at Rs 36,374 cr in FY24

Quick Summary:

Minister of State for Finance Pankaj Chaudhary shared details of the fake input tax Credit (ITC) cases booked by Central Tax formations during the 2022-23 and 2023-24 fiscals in a written reply to the Lok Sabha.

During 2023-24, 9,190 cases were booked by the central GST officers, involving fake ITC of Rs 36,374 crore.182 persons were arrested and voluntary deposits of Rs 3,413 crore were made in the cases.

Fake input tax credit (ITC) claims detection by central GST officers increased 51 per cent to Rs 36,374 crore in 2023-24, Parliament was informed on Monday.

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Category: BusinessFinance

Markets: India

Topics: Taxation in India Goods and Services Tax Pankaj Chaudhary Modi administration Tax credit Goods and services tax Minister of State for Finance

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Published On: 2024-07-29 @ 23:41:00 (6 hours ago)

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News Source URL: business-standard.com

Language: English

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