GST Evasion of ₹7.08 Lakh Crore Uncovered Over Five Years, ₹1.79 Lakh Crore in ITC Fraud

Quick Summary

• GST Evasion Data (2020-21 to 2024-25):

– Total GST evasion detected: ₹7.08 lakh crore across 91,370 cases.
– input Tax Credit (ITC) fraud accounted for ₹1.79 lakh crore in 44,938 cases.

• FY’25 GST Evasion:

– Detected evasion: ₹2.23 lakh crore across 30,056 cases.
– ITC fraud constituted more than half of the cases (15,283), valued at ₹58,772 crore.

• Yearly Breakdown of GST Evasion:

– FY’24: ₹2.30 lakh crore with ITC fraud worth ₹36,374 crore.
– FY’23: ₹1.32 lakh crore with fake ITC claims valued at ₹24,140 crore.- FY’22: ₹73,238 crore including ITC fraud of about ₹28,022 crore.
– FY’21: ₹49,384 crore involving ITC-related fraud totaling to about ₹31,233 crores.

• Taxes Recovered:

– Voluntary deposits recovered during these five years exceeded ₹1.29 lakh crores.

• Government Measures to Combat Tax Fraud & Evasion:

Steps include e-invoicing digitization methods; use of analytics; system-mismatch data identification identifying “outliers flagged,” actionable intelligence.

> Read more article here; https://www.thehindu.com/n