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Input Tax Credit fraud: ₹35,132 crore evasion detected by GST officers, over 17,000 fake firms involved

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GST officers have arrested 69 people after detecting cases of ITC evasion of ₹35,132 crore by 17,818 fake firms between April-October, reported the news agency PTI.

GST officers have arrested 69 people after detecting cases of ITC evasion of ₹35,132 crore by 17,818 fake firms between April-October, reported the news agency PTI. 

PTI

Published9 Dec 2024, 06:18 PM IST

On Monday, December 9, the GST officer's probe to detect ITC frauds brought to light 17,818 fake firms between April-October.
On Monday, December 9, the GST officer's probe to detect ITC frauds brought to light 17,818 fake firms between April-October.

New Delhi, Dec 9 (PTI) GST officers have detected cases of ITC evasion of ₹35,132 crore by 17,818 fake firms between April-October and arrested 69 persons, Parliament was informed on Monday.

In a written reply to the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said regular action is taken to detect fake firms through data analytics and other intelligence by the central and state authorities. 

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Also, a coordinated special drive was launched between August 16 and October 30 to detect fake firms. 

"A total of 18,876 ITC fraud cases were detected involving 17,818 fake firms with suspected ITC evasion of ₹35,132 crore during fiscal 2024-25 (April-October)," Chaudhary said.

This has saved ₹6,484 crore of which ₹5,422 crore by blocking of ITC and ₹1,062 crore by way of recovery.

A total of 69 arrests have been made in the cases during the current fiscal till October.