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Fake ITC claims detection by central GST officers up 51% at Rs 36,374 crore in FY24: MoS Finance informs Lok Sabha  

Fake ITC claims detection by central GST officers up 51% at Rs 36,374 crore in FY24: MoS Finance informs Lok Sabha  

In the financial year 2023-24, the central GST officers filed 9,190 cases involving fake ITC of Rs 36,374 crore and 182 persons were arrested, and voluntary deposits of Rs 3,413 crore were made in the cases. 

Business Today Desk
Business Today Desk
  • Updated Jul 29, 2024 4:07 PM IST
Fake ITC claims detection by central GST officers up 51% at Rs 36,374 crore in FY24: MoS Finance informs Lok Sabha  Adopting dubious methods to take benefit of input tax credit (ITC) or fake ITC claims has emerged as a major cause of concern for Goods and Services Tax (GST) authorities.

Adopting dubious methods to take benefit of input tax credit (ITC) or fake ITC claims has emerged as a major cause of concern for Goods and Services Tax (GST) authorities amid action against frauds, evasion and registration of bogus entities under the indirect tax regime. 

Fake input tax credit (ITC) claims detection by central GST officers increased by 51 percent to Rs 36,374 crore in 2023-24, the Parliament was informed on July 29.  

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Minister of State for Finance Pankaj Chaudhary shared details of the fake input tax Credit (ITC) cases booked by central tax formations during the 2022-23 and 2023-24 fiscals in a written reply to the Lok Sabha. 

In the financial year 2023-24, the central GST officers filed 9,190 cases involving fake ITC of Rs 36,374 crore and 182 persons were arrested, and voluntary deposits of Rs 3,413 crore were made in the cases. 

During 2022-23, such cases filed stood at 7,231 cases involving Rs 24,140 crore fake ITC with 152 arrests and Rs 2,484 crore in taxes were deposited voluntarily. 

The number of cases booked by central tax formation during 2021-22 was 5,966. 

Chaudhary said the challenges in tracking fake ITC fraudsters relate to masterminds, who operate the fake ITC generation through control and management of a complex web of entities created across jurisdictions. 

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“Such challenges are being met through coordination with multiple stakeholders, including law enforcement agencies,” he added. 

Published on: Jul 29, 2024 4:07 PM IST
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