The government is considering more intense technology-based advance risk profiling to pre-empt input tax credit (ITC) frauds and block suspected claims until they pass through scrutiny as Goods and Services Tax (GST) evasion worth over ₹4 lakh crore has been detected in just four years with less than 30% recovery, two officials aware of the development said.
Source a2ztaxcorp
Latest Posts in "India"
- Goa Notifies VAT Amendment Act 2026: Strengthens Composition Scheme, Settlement, and Refund Procedures
- GST Not Applicable on Assignment of Leasehold Rights; Eligible for Refund on Past Payments
- ICAI Releases Revised 2026 Handbook on Cross-Border Transactions, Investments, and International Taxation
- High-Value Transactions Now Automatically Reported to Tax Authorities, Even If Not Disclosed in ITR
- GST Compliance for CFOs: Strategic Risk Mitigation and Operational Efficiency in Indian Enterprises
