- Significant Tax Evasion Detected: Central GST officers identified tax evasion amounting to Rs 1.95 trillion across 25,397 cases in the April-January period of the current fiscal year, contributing to a total of over Rs 6.79 trillion in evasion detected over the past five years.
- Voluntary Deposits and ITC Fraud: During this period, voluntary deposits related to tax evasion cases reached Rs 21,520 crore, while 13,018 cases of Input Tax Credit (ITC) fraud were reported, involving Rs 46,472 crore, with a voluntary deposit of Rs 2,211 crore for these cases.
- Compliance Measures Implemented: The government has undertaken various initiatives to enhance compliance and tackle tax evasion, including advanced analytics, facial recognition technology, and scrutiny of suspicious activities, which have proven effective in identifying fraudulent activities and safeguarding revenue.
Source A2ztaxcorp
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