Home GST Faux GST Registrations of greater than 4,900 canceled thus far; Drive to run until July 15

Faux GST Registrations of greater than 4,900 canceled thus far; Drive to run until July 15

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Faux GST Registrations of greater than 4,900 canceled thus far; Drive to run until July 15

GST Particular Drive: Faux GST Registrations of greater than 4,900 canceled thus far; Drive to run until July 15

The Items and Providers Tax (GST) officers have thus far cancelled over 4,900 bogus GST registrations as a part of a nationwide drive. Moreover, the marketing campaign has found 17,000 GSTINs that don’t exist, a senior tax official acknowledged.

In the meanwhile, round 1.40 crore corporations or enterprises are registered beneath GST. Previous to the implementation of GST, this determine was half within the earlier direct tax construction. A member of the Central Board of Direct Taxes and Customs (CBIC), acknowledged that, as of July 4, area officers have picked over 69,600 GST Identification Numbers (GSTINs) for bodily verification within the drive in opposition to pretend registrations.

Over 59,000 GSTINs have been verified, whereas 16,989 are non-existent. Greater than 11,000 GSTINs have been suspended, and 4,972 registrations had been cancelled out of those 69,600 GSTINs. In these instances, tax fraud of over Rs.15,000 crore was discovered, ITC of round Rs.1,506 crore has been blocked, and a tax refund of Rs.87 crore was realised, CBIC member advised. Restoration has additionally happen.

The 2-month particular marketing campaign to fight pretend GST registration, which started on Could 16, will conclude on July 15. Faux registration is a major concern beneath GST, since fraudsters submit false payments or invoices with a view to get hold of ITC and cheat the federal government.

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