Rs 2 trn GST evasion detected in FY24, online gaming most prone to evasion

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Rs 2 trn GST evasion detected in FY24, online gaming most prone to evasion - Business Standard

Quick Summary:

Investigation arm DGGI has detected 6,084 cases involving Rs 2.01 lakh crore of GST evasion in 2023-24 fiscal, with online gaming and BFSI in services and iron, copper, scrap and alloys in goods emerging as the sectors most prone to evasion.

As per the annual report of the Directorate General of GST Intelligence (DGGI), about 46 per cent of the evasion cases related to non-payment of tax (through clandestine supply and undervaluation), 20 per cent related to fake Input Tax Credit (ITC), and 19 per cent to wrong availment/non-reversal of ITC.

The amount is double of over Rs 1.01 lakh crore detected in 2022-23 in 4,872 cases.