Tax Frauds Worth Rs 38,000 Crore Detected Last Year
Posted On : Tuesday, July 16, 2019, 6:49 PM
The Finance Ministry on Tuesday informed the Parliament the tax officials detected tax frauds worth Rs 37,946 crore in the financial year 2018-19 and Rs 6,520 crore in the April-June 2019 period after the implementation of GST (goods and service tax) regime. The Minister of State for Finance Anurag Thakur, in a written reply to the Rajya Sabha also informed that the cases of availing tax credit by issuing fake invoices were of Rs 11,251 crore in 2018-19 and Rs 2,805 crore in April-June 2019. In the first year of GST implementation, only 5 cases of tax credit availment by fake invoicing were detected by Central GST formations involving an amount of Rs 12.67 crore.