GST authorities have arrested as many as 140 persons, including five chartered accountants, in about a month’s time on charges of issuing fake invoices, and have now trained their guns on entities transporting under-valued goods.
In its nationwide drive against fake invoice frauds since the second week of November, the Directorate General of GST Intelligence (DGGI) have also unearthed cases of GST evasion by way of transporting under-valued and unaccounted goods, they added.
Revenue Department sources said some companies of Delhi and Himachal are under investigation for under-valuation of goods and its transportation through transporters of Ludhiana and Jalandhar.
During searches and surveys, the field formations have seized unaccounted goods as well.
DGGI sources said that it appears that a good number of transporters too are involved in this kind of GST evasion activities through under-valued goods transportation and further investigations are required to ascertain the evasion to the exchequer.
Sources said that preliminary investigation done so far shows under valuation of goods by 20-30 percent and a number of unaccounted goods, which have been seized.
Since the second week of November, GST officers have booked 1,488 cases against 4,839 fake entities and arrested 140 unscrupulous persons including five chartered accountants and a woman, for allegedly being involved in fake invoicing.
Source : newindianexpress.com
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Frah Saeed is a law graduate specializing in the core field of indirect taxes and is the Co-founder of taxwallah.com. She has authored many publications on GST and is into full-time consultancy on GST to big corporates. She as a part of taxwallah.com heads a team comprising of Chartered Accountants and Advocates and plays a key role in our mission to disseminate GST knowledge to all.
