Quick Summary
In a significant crackdown on Goods and Services Tax (GST) evasion, authorities have identified fraudulent Input Tax Credit (ITC) claims worth ₹35,132 crore, involving 17,818 fake firms, between April and October 2024. Minister of State for Finance, Pankaj Chaudhary, shared these details in a written response to the Lok Sabha on Monday. Coordinated Action Against ITC Fraud The detection came as part of a coordinated special drive conducted between August 16 and October 30, 2024, by central a
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FAQ :
Authorities have detected fraudulent Input Tax Credit (ITC) claims worth ₹35,132 crore.
A total of 17,818 fake firms were exposed as part of the GST fraud.
The detection occurred between April and October 2024, with a special coordinated drive running from August 16 to October 30, 2024.
Authorities managed to save ₹6,484 crore, with ₹5,422 crore blocked and ₹1,062 crore recovered directly.
Yes, 69 individuals implicated in these fraudulent activities were arrested during the current fiscal year up to October.
Authorities are using data analytics and intelligence gathering to detect fake firms and curb tax fraud.
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