New Delhi, December 9, 2024: GST officers have uncovered cases of Input Tax Credit (ITC) evasion amounting to Rs 35,132 crore by 17,818 fake firms between April and October 2024, leading to the arrest of 69 individuals, according to a statement made in the Lok Sabha on Monday.
Pankaj Chaudhary, the Minister of State for Finance, informed the Parliament that the authorities have been employing data analytics and intelligence gathering, in coordination with central and state officials, to detect and act against such fake firms. A special drive was also launched from August 16 to October 30, 2024, as part of efforts to crack down on fraudulent activities.
In total, 18,876 cases of ITC fraud were detected during the fiscal year 2024-25, involving the 17,818 fake firms. These actions helped save Rs 6,484 crore, with Rs 5,422 crore blocked through ITC suspensions and Rs 1,062 crore recovered.
So far, 69 individuals have been arrested in connection with these fraud cases during the current fiscal year. The government continues to strengthen efforts to combat such frauds and protect revenue generation through the GST system.
