India launches two-month drive to identify and eliminate fake GST registrations for ITC fraud.

India launches a two-month special drive to identify and eliminate fake GST registrations responsible for input tax credit (ITC) frauds, with a focus on tracking masterminds and beneficiaries. Following the identification of over 59,000 potential fake firms, the Directorate General of GST Intelligence reports tax evasion of Rs 1.2 trillion through fake ITC since 2020. The initiative emphasizes striking a balance between enforcement actions and ease of doing business while combating fraud.

August 20, 2024
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