new Delhi. The Central Board of Indirect Taxes and Customs (CBIC) has revealed that over 1300 exporters, including some star exporters, fraudulently claimed the Integrated Goods and Services Tax (IGST) refund of Rs 1,800 crore to the exchequer. Has lime over.
A source in the Finance Ministry said that a total of 1377 exporters have claimed an IGST refund in a fraudulent manner and have received an amount of Rs 1875 crore. The source also said that when all these exporters were searched, they were not found at their business addresses. According to sources, those who took IGST refunds in fake way include 7 star export status exporters who took fake ICST refunds of Rs 28.9 crore.
According to sources, the list of at-risk taxpayers includes 7516 exporters. The IGST refund / drawback of Rs.1363 crore made by 2830 risk exporters has been suspended. An adverse report has been received against 2197 risk-averse exporters.
Sources said that the CBIC field officers have identified fake cases of Rs 115 crore against the identified risky exporters. Verification of 234 suppliers has been obtained, out of which the registered address of 82 suppliers has also been found to be fake.
Risk exporters are identified on specific risk signals based on custom, GST, income tax and DGFT data. Information about these identified risk exporters is given to CGST under standard operating procedure to enable physical and financial verification of the same.
According to sources, in 995 cases, positive reports have been received from CGST. Of these, IGST refund / drawback of Rs 273 crore has been suspended in 461 cases. The information of these risk exporters has been handed over to the jurisdictional authority, who will do physical and financial verification of the Invalid Input Tax Credit (ITC) acquired by them.
This post was published on July 17, 2020 1:57 pm
Photo: PTI (FILE) Nitin gadkari new Delhi. Union Minister Nitin Gadkari said on Friday that India could become a major…