During the ongoing crackdown on fraudulent firms, GST officers have successfully dismantled 304 syndicates involving 9,000 counterfeit GSTINs and fraudulent input tax credit (ITC) claims amounting to a staggering Rs 25,000 crore, said CBIC Chairman Vivek Johri on Saturday.
Highlighting a concerning statistic, Johri pointed out that only 40 percent of the corporate income taxpayer base is currently registered under the Goods and Services Tax (GST) system. Since its launch six years ago on July 1, 2017, a total of 1.39 lakh businesses have registered under GST.
Speaking at the GST Day 2023 event, Johri urged businesses to promptly register under GST, emphasising the department's ongoing outreach program to raise awareness about the advantages of GST.
To combat the issue of fake businesses exploiting GST for illicit gains and defrauding the government, both central and state tax officers have launched a dedicated two-month campaign. The objective is to identify and expose these deceitful entities. The department is utilising advanced data analytics and employing a non-intrusive approach to effectively catch tax evaders.
Johri issued a stern warning to those who persist in such activities, emphasising that stringent action will be taken against them. The ultimate goal is to establish a larger and cleaner taxpayer base, ensuring the protection of honest taxpayers.
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