Quick Summary
As of July 4, 2023, GST authorities have cancelled over 4,900 fake GST registrations and detected tax evasion of over Rs 15,000 crore during the ongoing two-month drive to weed out fake GSTINs. The drive, which began on May 16, will end on July 15. The Central Board of Indirect Taxes and Customs (CBIC) member, Mr Shashank Priya, said that the large number of fake registrations unearthed during the drive underlines the need for policy changes to tighten Goods and Services tax (GST) registratio
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FAQ :
As of July 4, 2023, over 4,900 fake GST registrations have been cancelled.
Tax evasion amounting to over Rs 15,000 crore has been detected.
The fake GST registrations were used for evading taxes, claiming fraudulent input tax credit (ITC), and facilitating illegal cross-border trade.
The drive began on May 16 and will end on July 15.
The Central Board of Indirect Taxes and Customs (CBIC) is working on policy changes to tighten GST registration and return filing processes and is implementing measures to strengthen the GST compliance regime.
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