Quick Summary
Central Tax formations under Central Board of Indirect Taxes and Customs (CBIC) detect Rs. 36,374 crore worth of fake Input Tax credit (ITC) involving 9,190 cases in FY 2023-24 The Central Tax formations under Central Board of Indirect Taxes and Customs (CBIC) detected Rs. 36,374 crore worth of fake Input Tax credit (ITC) that involved 9,190 cases in the Financial Year (FY) 2023-24. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in written reply to a question in Lo
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 011-411-70713
FAQ :
In FY 2023-24, Central Tax formations under CBIC detected Rs. 36,374 crore worth of fake Input Tax Credit.
A total of 9,190 cases involving fake Input Tax Credit were detected in FY 2023-24.
The government is implementing measures such as risk-based Aadhaar authentication for registrations, physical verification in high-risk cases, mandatory sequential filing of GST returns, and increased use of data analytics.
Yes, the number of cases increased from 7,231 in FY 2022-23 to 9,190 in FY 2023-24.
In FY 2022-23, Rs. 24,140 crore worth of fake Input Tax Credit was detected.
CAclubindia
