The government has confronted Rs 20,000 crore GST evasion in 2018-19, out of which Rs 10,000 crore has been recovered, rest 50% are yet to be retrieved from the corrupt businessmen who follow these illegal practices of GST dodging.
“Between April-February 2018-19, GST evasion worth Rs 20,000 crore has been detected of which Rs 10,000 crore was recovered, ” Central Board of Indirect Taxes and Customs member (Investigation) John Joseph declared on Wednesday at an Assocham event.
He also told about the investigation done by tax officers on Tuesday where they exposed bogus invoice worth Rs 1,500 crores which was used to illicit GST credit claim of Rs 75 crore, out of which 25 crores are already recovered while full-fledged efforts are going to recoup the remaining.
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Considering the fact that there are only some unprincipled reprobate, say 5-10%,in the society who follow these unfair practices but bring a lousy label to the whole industry, he stated that government will introduce elixir to increase tractability, and take relevant actions against evaders in a manner that will not bring headache for genuine businesses & will keep them safe and secure.
He also briefed about a meeting of the representatives of the real estate sector, which is to be held by the department very soon to get in-depth knowledge about the transition issues dealt by the sector after the contraction in GST rates.
Recently, the GST Council has made decisions to abbreviate tax rates on under-construction apartments.
