Ahmedabad: Thanks to the avoidance of tax goods and services (GST) incorrectly claimed input tax credit (ITC), the state in Gujarat lost RS171 Crore in the first quarter of 2021-22.
The involvement of around 99 trade entities was suspected of being embedded.
Details revealed after the State GST department (SGST) began investigating traders who tended to claim excess ITC.
During the first quarter of 2021-22, the department identified around 99 large trade entities involved in this practice.
The request has begun to the culprit.
Further investigations revealed that around 78 trade entities did not exist at all, showing fake billing fraud.
SGS official confirmed that their transaction turned out to be suspicious and their involvement in fake billing was being examined.
At present, SGST officials also investigate past returns submitted by these entities and their transactions for further instructions on the amount of taxes avoided by them in the past.
In an effort to end the available input tax credit threats using false bills, SGST officials began to tighten their snare on all taxpayers in Gujarat.
The department has warned strict action on the perpetrators who avoid taxes in this way.
The department is forced to use technology to fish the culprit as considered when checking the return of sales and purchases that the excess ITC is claimed by traders to avoid taxes.
Gujarat lost Rs 171 Crore to GST embezzlement in Q1
