Quick Summary
The Kochi zonal unit of the Directorate General of GST Intelligence (DGGI) for Kerala and Lakshadweep regions has unearthed GST irregularities to the tune of ₹420 crore on various counts during the 2021-22 financial year. Two persons were arrested for GST fraud in the previous fiscal and one person so far during the ongoing 2022-23 fiscal. Large-scale GST fraud has been detected in the real estate sector in Kerala on examination of documents by the DGGI authorities. Steps have been initiat
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FAQ :
The DGGI has unearthed GST irregularities to the tune of ₹420 crore in Kerala and Lakshadweep regions for the 2021-22 financial year.
Steps have been initiated against 15 players in the real estate sector.
Detected frauds include misuse of input tax credit, non-payment of GST on payments to landowners, and not revealing actual turnover details.
Of the ₹50.84 crore identified in specific frauds, ₹26.01 crore has already been recovered.
Builders collecting cash from consumers before completion or handover of houses, flats, or apartments are bound to pay GST. Builders collecting cash only after construction are exempted.
Builders claiming input tax credit for materials and services at the start of construction must refund it if the apartments are exempted from GST upon completion.
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