Govt detects Rs 20,000 crore leak in GST

India today By India today February 28, 2019 04:07 IST

Stating that only 5-10 per cent of the businesses are black sheep and bring bad name to the industry, he said the government will take more measures to increase compliance, and act against evaders in a way such that genuine businesses do not suffer.

The GST Council earlier this week decided to cut tax rates on under-construction apartments.

The government has detected Rs 20,000 crore worth GST evasion so far in 2018-19 and 50 per cent of it has been recovered, Central Board of Indirect Taxes and Customs member (Investigation) John Joseph said on Wednesday.

"Between April-February 2018-19, GST evasion worth Rs 20,000 crore has been detected of which Rs 10,000 crore was recovered," he said at an Assocham event here.

He said the tax officers detected on Tuesday fake invoice worth Rs 1,500 crore which was used to claim illegal GST credit of Rs 75 crore. "We have already recovered Rs 25 crore and the rest is on the way," Joseph said.

Stating that only 5-10 per cent of the businesses are black sheep and bring bad name to the industry, he said the government will take more measures to increase compliance, and act against evaders in a way such that genuine businesses do not suffer.

He also said the department would soon call a meeting of the representatives of the real estate sector to understand transition issues faced by the sector post reduction in GST rates.

The GST Council earlier this week decided to cut tax rates on under-construction apartments.

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