&w=3840&q=100)
GST evasion of ₹7.08 trn detected in 5 yrs, includes ITC fraud of ₹1.79 trn
In 2024-25 fiscal alone, over ₹2.23 trillion of Goods and Services Tax (GST) evasion were detected by CGST field officers, according to the data shared by Minister of State for Finance Pankaj Chaudhary in the Lok Sabha.
Of the 30,056 cases of GST evasion detected in FY'25, more than half or 15,283 cases pertained to ITC fraud, where the evasion was to the tune of ₹58,772 crore.
In the 2023-24 fiscal, ₹2.30 trillion worth GST evasion was detected by CGST field officers, involving ITC fraud of ₹36,374 crore.
In FY'23, about ₹1.32 trillion GST evasion was detected, including ₹24,140 crore of fake ITC claims.
In FY'22 and FY'21, GST evasion stood at ₹73,238 crore and ₹49,384 crore respectively. This included ITC fraud of ₹28,022 crore and ₹31,233 crore respectively.
In the last five years (2020-21 to 2024-25), total GST evasion detected by CGST field officers stood at about ₹7.08 trillion in 91,370 cases. Taxes recovered during the period by way of voluntary deposit stood at over ₹1.29 trillion.
The evasion data includes ITC fraud of about ₹1.79 trillion in 44,938 cases between FY'21 to FY'25.
Chaudhary said the central government and GSTN are taking various steps to prevent tax evasion, such as digitization through E-invoicing, GST analytics, highlighting of outliers based on system-flagged mismatches, providing actionable intelligence and selection of returns for scrutiny and selection of taxpayers for audit based on various risk parameters.
"These measures are helpful in safeguarding the revenue and nabbing the evaders," Chaudhary said in a written reply in the Lower House.
To a question on the actual net Central GST collection compared to the Revised Estimates (RE), Chaudhary said net CGST collection was 96.7 per cent of the RE in 2024-25 fiscal.
Net CGST includes CGST+Integrated GST+compensation cess.
Actual collection stood at over ₹10.26 trillion in FY'25, as against RE of nearly ₹10.62 trillion.
In FY'24, net CGST collection was over ₹9.57 trillion, or 100.1 per cent of the RE of over ₹9.56 trillion.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
40 minutes ago
- Time of India
ET Make in India SME Regional Summits: A call for agro-industrial revival in Punjab
Live Events On August 7, the ET Make in India SME Regional Summit pitstopped in Chandigarh for the first time. For Taranjeet Singh Bhamra , Founder and CEO of AgNext Technologies and Chairman, CII Chandigarh UT , the occasion wasn't just symbolic. It was edition of the nationwide ET SME Summits had IDBI as banking and lending partner and Canon as tech enabler.'Thirty years ago, I came here with almost nothing except a degree in agricultural engineering. Chandigarh was a welcoming city even then, with an open culture and scope for expansion.,' he recalled in his special address.'Panchkula and Mohali were barely developed, and the city had one flight from Delhi. Today, we have 30-40 flights connecting us to all parts of the country. The tri-city has emerged as a hub serving not just Punjab, but also Himachal Pradesh, Jammu & Kashmir, and Haryana.'Bhamra spoke of watching the CII (Confederation of Indian Industry) building rise from the ground up, wondering what it would become. Today, this division serves as the headquarters for the Northern Region, helping businesses of all sizes network, share information, and speak with a collective his optimism was tempered with a reality check. Up until 40 years ago, Punjab was among the top states in India, he shared; today, it's around 10th or 11th. This can be an opportunity if the industrial ecosystem identifies its weaknesses and turns them into Bhamra, the path forward starts with the region's traditional strength: agriculture. While Punjab is still a leading manufacturer of agricultural equipment, agro-processing lags far behind. 'We need to process what we grow, right here, into high-value products,' he urged, warning of persistent water stress in the state. His vision blends agriculture with solar energy, saving water while feeding power into the grid, and harnessing rural potential for industry. Villages offer cheaper self-generated power, biomass for energy, and direct access to raw other call to action was to make it easier for entrepreneurs to start and scale. He harked to a time when there was no GST on machinery purchases, which saved him 20-30% in startup costs back then.'We must back industries based not on subsidies or grants, but on strong, sustainable ideas that can thrive independently. Identifying such companies and giving them full policy and financial support will help the region regain its leadership, particularly in agriculture-based industries,' he sectors like auto and IT are important, Bhamra said the region's leadership will come from doubling down on agriculture-based MSMEs , powered by technology, smart policy, and rural innovation. For instance, recent CII efforts include training nearly 1,000 people in applying AI to industry.'Small challenges are where big opportunities begin,' he concluded at the ET SME Summit. 'Let's turn our fields into the foundation of our future.'The ET Make in India SME Regional Summits, ET MSME Day, and ET MSME Awards are flagship initiatives to celebrate the versatility and success of India's MSME sector. If you lead or are part of a micro, small, or medium enterprise, register for the ET MSME Awards 2025 before August 31, 2025.
The Hindu
an hour ago
- The Hindu
Indian Ports Bill will strengthen maritime sector, says MP Sribharat
Highlighting the role of maritime infrastructure in India's economic growth, Visakhapatnam MP M. Sribharat on Tuesday extended his support to the Indian Ports Bill, 2025, during a discussion in the Parliament. Speaking in the Lok Sabha, Mr. Sribharat described the Bill as a much-needed step towards streamlining port development, improving ease of doing business, ensuring effective dispute resolution, and creating a unified framework for port identification and regulation across the country. The MP noted the significant progress achieved in Andhra Pradesh's port sector in the past decade. 'The turnaround time for ships at major ports has halved, and India's international shipment ranking has risen sharply,' he said. He said that Chief Minister N. Chandrababu Naidu's plan to establish a themed port, every 50 km, specialising in sectors such as petrochemicals, ship repair, and shipbuilding, as a major driver of regional growth. The MP also referred to the recent conclave in Visakhapatnam, attended by Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal and representatives from seven Bay of Bengal nations, as a testament to the State's growing prominence in international maritime cooperation. 'Andhra Pradesh is already emerging as a leader in cruise tourism, with successful cruise operations and more in the pipeline,' he observed. Mr. Sribharat urged the House to adopt the Bill 'in the spirit of nation-building', emphasising that it would strengthen India's maritime capabilities and bring lasting benefits to coastal communities.
Economic Times
2 hours ago
- Economic Times
New Income Tax Bill provides simple framework to enhance ease of doing biz: ICAI
Synopsis The ICAI hailed the new Income Tax Bill, passed by Parliament, as a framework that simplifies taxation and boosts ease of doing business. Effective from April 1, 2026, the bill incorporates around 90 suggestions from ICAI, including AMT applicability and refund claim rules. ICAI believes this will make India a more attractive investment destination. Agencies Representative AI Image Chartered accountants' apex body ICAI on Wednesday said the new Income Tax Bill provides a simple and clear framework that will enhance the ease of doing business and support India's goal of becoming the favoured investment destination. On Tuesday, Parliament passed a new income tax bill to replace the six-decade-old Income Tax Act, 1961, that will come into force from April 1, 2026. The Institute of Chartered Accountants of India (ICAI) said the bill incorporates a significant number of suggestions from the Parliamentary Select Committee, which consulted ICAI and other stakeholders. Around 90 suggestions of the institute have been considered in the bill, ICAI said in a statement on Wednesday. The suggestions included the applicability of Alternative Minimum Tax (AMT) to only those persons who have claimed deductions in respect of certain income or investment-linked tax deduction, and removal of requirement to file return on or before due date for claiming refund. "By streamlining the structure and provisions, the new Bill reflects the government's commitment to enhancing ease of doing business by providing a tax framework that is simple and clear, thus, supporting India's goal of becoming the favoured destination for investment," ICAI said. Other suggestions made were those related to the year of allowability of expenditure where tax deduction takes place in the subsequent year and the applicability of the presumptive rate of 6 per cent for receipts in online mode up to the due date of filing of return.
