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CBIC Found Nearly 25% of GST Accounts to be Fake, Rs 5,000 Crore of Tax Evasion

They have launched the Aadhaar authentication of taxpayers on a pilot basis.

The Central Board of Indirect Taxes and Customs (CBIC) has found significant evidence in its two-month special drive that around 25% of the 69,000 suspected Goods and Services Tax (GST) accounts do not exist. The fake accounts have availed benefits with Rs 15,000 core. The special drive found 17,000 accounts to be fraudulent.

CBIC authorities used artificial intelligence and data analytics to highlight around 69,000 suspected accounts to be fraudulent after scratching the GST database. Currently, there are 1.39 crore taxpayers registered under the GST.

On July 1, the finance ministry announced, The GST collections for June increased by 12% to Rs 1.61 lakh crore. The gross GST collection had crossed the Rs 1.60 lakh crore mark for the fourth time.

Among all the states, the capital has the largest number of fake accounts from the list of suspected accounts; the report further revealed, “There are some decisions that the GST Council has already taken on the issues; we will implement them. The idea is to ensure that leakages are prevented,”

The issue will likely be raised in the GST Council meeting on July 11, where the information will be shared with all the state finance ministers.

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