Quick Summary
The Central Board of Indirect Taxes and Customs (CBIC) has found that around 25% of 69,000 suspected GST accounts are fake. These accounts have availed benefits of around Rs 15,000 crore. The authorities used artificial intelligence and data analytics to identify around 69,000 suspected accounts after scrubbing the GST database. The drive, which ends July 15, found 17,000 of them to be bogus. The authorities are also investigating the role of entities, including some big names in business, in
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FAQ :
Around 25% of the 69,000 suspected GST accounts, which equates to approximately 17,000 accounts, were found to be fake.
The potential GST evasion from these fake accounts is estimated to be around Rs 15,000 crore.
Authorities used artificial intelligence and data analytics to scrutinise the GST database and identify the suspected accounts.
Yes, authorities are investigating the role of various entities, including some big names in business, such as a food delivery service provider, in relation to the fake GST accounts.
Decisions have been made to strengthen the GST registration process, conduct regular audits, and develop a new system to track goods and services more effectively. The data analytics system is also being improved.
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