Goods and Services Tax Out- Come of A Special All-India Drive on GST

Out- Come of A Special All-India Drive on GST

Out- Come of A Special All-India Drive on GST

Outcome of A Special All-India Drive on GST 

  • A Senior Tax Official of Goods and Services Tax stated that GST officials have so far cancelled over 4,900 bogus GST Registrations as part of a nationwide drive. Moreover, this GST special Drive has been discovered 17,000 GSTINs that do not exist,
  • Currently, Around 1,40,00,000/- Taxpayer enterprises are registered under GST. Prior to the implementation of Goods and Services Tax, this figure was half in the previous direct tax structure. A member of the CBIC stated that, as of July 4, field officers have picked over 69,600 Goods & Services Tax Identification No for physical verification in the drive against fake registrations.
  • Over 59,000 Goods and Services Tax Identification No have been verified, while 16,989 are non-existent. More than 11,000 GST- Identification No have been suspended, and 4,972 GST Taxpayer registrations were cancelled out of these 69,600 Goods and Services Tax Identification No.
  • In the above said matter, GST Tax fraud of over INR 15,000/- Cr was observed, Input Tax credit of around INR 1,506 crore has been blocked, & GST Tax Refund of INR 87,00,00,000/- was realised, Central Board of Indirect Taxes and Customs member told. Recovery has also take place.
  • 2 Month special Drive to highlight the fake Goods & Services Tax registration, which began on May 16, will conclude on July 15. Fake GST Taxpayer registration is a important concern under Goods & Services Tax, since fraudsters file false bills or invoices in order to obtain Input Tax credit & cheat the Govt.

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