GST Drive Exposes 29,273 Bogus Firms in Massive Tax Evasion Scandal

CA Aman Rajput | Last updated: 09 January 2024

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A significant crackdown by GST authorities has uncovered 29,273 bogus firms suspected of evading £44 billion in Input Tax Credit (ITC). This extensive drive, ongoing since May 2023, has led to 121 arrests and the recovery or protection of substantial revenue. The government is also strengthening the registration process with measures like biometric Aadhaar authentication to prevent future fraud.

Introduction In a significant move to combat frauds in the Goods and Services Tax system and enhance compliance, the GST formations under the Central Board of Indirect Taxes and Customs (CBIC) and State/UT Governments have executed a relentless drive against non-existent taxpayers since May 2023.

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About the Author

CA Aman Rajput

Chartered Accountant

CA Aman Rajput, Associate Chartered Accountant, DISA, FAFDContact me at 8209604735Email ID aman.rajput @ mail.ca.in Introduction CA Aman Rajput is an entrepreneurial Chartered Accountant and Partner at ATK and Associates, headquartered in Ghaziabad. With a strong academic foundation, holding a Masters in Commerce, ... Read more

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