Latest news with #GSTINs
Hindustan Times
6 days ago
- Business
- Hindustan Times
Punjab govt to set up special unit to tackle GST violations
To institutionalise tax enforcement, finance and taxation minister Harpal Singh Cheema on Monday announced the decision to establish a state-level special fraud detection unit (SFDU) headquartered at Patiala. This dedicated Unit will streamline the detection and bring consistency in investigating complex cases involving Goods and Services Tax (GST) violations. Punjab cabinet minister Harpal Singh Cheema Cheema stated that the SFDU will be tasked with uncovering and probing high-value GST frauds, with particular focus on breaking down circular trading operations, unearthing benami (anonymous) transactions, and eliminating the practice of fake invoicing. 'The unit will be empowered to initiate stringent enforcement actions, including cancellation of suspicious GST identification numbers (GSTINs), blocking wrongful claims of input tax credit (ITC), and recommending prosecution against offenders to uphold legal accountability', he added. The FM highlighted that the SFDU will leverage advanced technologies, including artificial intelligence (AI), data analytics, and centralised backend operations, to enhance its detection capabilities. The Unit will conduct comprehensive data mining and pattern recognition across the state to identify anomalies in tax returns, transaction networks, and goods movement. He further stated that the Unit will use data-driven red flags to selectively verify only dubious or miscreant taxpayers, protecting honest taxpayers from unnecessary scrutiny. This strategic approach aims to strike a balance between effective enforcement and taxpayer facilitation, ensuring a more efficient and taxpayer-friendly administration, he emphasised. Detailing the composition of the SFDU, Cheema stated that the Unit will comprise a multidisciplinary team consisting of experienced tax officers, skilled IT professionals, a chartered accountant, and a legal officer. He said that this team will be equipped with real-time access to critical datasets such as GSTN information, e-way bill tracking, toll records, and RFID trail analytics, enabling prompt and precise action against tax evasion. The minister informed that SFDU will be empowered by robust legal provisions under Sections 67, 70, 74, and 132 of the CGST/PGST Acts, complemented by relevant sections of the Indian Penal Code (IPC).
Hindustan Times
6 days ago
- Business
- Hindustan Times
GST officers bust fake ITC racket in iron, steel sector
GST officers have busted a racket that fraudulently availed Input Tax Credit (ITC) worth ₹47.12 crore in the iron and steel sector and arrested one person, the finance ministry said on Monday. The case involves fraudulent availment and passing on of ITC totalling ₹ 47.12 crore, The Anti-Evasion Branch of CGST Delhi South Commissionerate has unearthed a large-scale fraudulently availed Input Tax Credit (ITC) racket involving a city-based taxpayer engaged in the trading of iron and steel items. The case involves fraudulent availment and passing on of ITC totalling ₹47.12 crore, based on bogus invoices against a taxable value of approximately ₹261 crore, without any actual supply of goods. Acting on specific intelligence developed by the Anti-Evasion wing, an investigation was initiated into a suspicious supply chain. The inquiry revealed that the firm had fraudulently availed and passed on ITC without any actual movement of goods. Further investigation established that the firm had availed ITC from cancelled and suspended GSTINs, in gross violation of the provisions of the CGST Act 2017. The firm was found to be non-functional at its declared place of business during a search conducted under the GST law. The proprietor was arrested on August 1, 2025, an official statement said.
India.com
08-05-2025
- Business
- India.com
GST Fraud Worth Rs 7.85 Crore Busted In South Delhi, CA Arrested
New Delhi: In a major crackdown, a Central Goods and Services Tax (CGST) team has uncovered a fraud on a large-scale involving fraudulent input tax credit (ITC) claims amounting to nearly Rs 7.85 crore by a South Delhi-based chartered accountant who has been arrested, it was announced on Thursday. Investigations revealed misuse of over 80 GSTINs (Goods and Services Tax Identification Numbers), mainly in the Palam/Dwarka area, linked to the chartered accountant's email IDs and contact numbers, according to a Finance Ministry statement. A core group of 31 GSTINs engaged in circular trading was identified, with no actual supply of goods or services. According to the ministry statement, search proceedings were conducted at 12 premises, and multiple firms were found non-existent. During searches, several electronic devices relevant to investigation were seized, and statements of the relevant people were recorded, the ministry informed. Multiple taxpayers admitted to having been relying entirely on the chartered accountant for GST filings, with login credentials and filings centrally controlled by him. "The offences committed by the accused are covered u/s 132(1)(b) and 132(1)(c) of the CGST Act, 2017 which is cognizable and non-bailable offence under Section 132(5) and punishable under Section 132(1)(i) of the Act ibid," said the Ministry. "Accordingly, the said chartered accountant was arrested under Section 69(1) of the CGST Act, 2017 and produced before the Duty Magistrate on 07.06.2025, who remanded him to judicial custody for 14 days till 21.05.2025," it informed. The case highlights a systemic abuse of the GST framework through impersonation, credential misuse, and collusive circular trading. The Finance Ministry further stated that investigations were going on under the CGST Act, 2017, to uncover the full scale of the fraud and identify all beneficiaries of the ineligible input tax credit.
Hans India
08-05-2025
- Business
- Hans India
GST fraud worth Rs 7.85 crore busted in South Delhi, CA arrested
New Delhi: In a major crackdown, a Central Goods and Services Tax (CGST) team has uncovered a fraud on a large-scale involving fraudulent input tax credit (ITC) claims amounting to nearly Rs 7.85 crore by a South Delhi-based chartered accountant who has been arrested, it was announced on Thursday. Investigations revealed misuse of over 80 GSTINs (Goods and Services Tax Identification Numbers), mainly in the Palam/Dwarka area, linked to the chartered accountant's email IDs and contact numbers, according to a Finance Ministry statement. A core group of 31 GSTINs engaged in circular trading was identified, with no actual supply of goods or services. According to the ministry statement, search proceedings were conducted at 12 premises, and multiple firms were found non-existent. During searches, several electronic devices relevant to investigation were seized, and statements of the relevant people were recorded, the ministry informed. Multiple taxpayers admitted to having been relying entirely on the chartered accountant for GST filings, with login credentials and filings centrally controlled by him. "The offences committed by the accused are covered u/s 132(1)(b) and 132(1)(c) of the CGST Act, 2017 which is cognizable and non-bailable offence under Section 132(5) and punishable under Section 132(1)(i) of the Act ibid," said the Ministry. "Accordingly, the said chartered accountant was arrested under Section 69(1) of the CGST Act, 2017 and produced before the Duty Magistrate on 07.06.2025, who remanded him to judicial custody for 14 days till 21.05.2025," it informed. The case highlights a systemic abuse of the GST framework through impersonation, credential misuse, and collusive circular trading. The Finance Ministry further stated that investigations were going on under the CGST Act, 2017, to uncover the full scale of the fraud and identify all beneficiaries of the ineligible input tax credit.
