DGGI Detects Rs 2.01 Lakh Crore GST Evasion in FY24; Online Gaming, BFSI Most Prone to Evasion

Investigation arm DGGI has really found 6,084 situations entailing Rs 2.01 lakh crore of GST evasion in 2023-24 financial, with on the web computer gaming and BFSI in options and iron, copper, scrap and alloys in objects turning into the fields most susceptible to evasion.

The amount is twin of over Rs 1.01 lakh crore found in 2022-23 in 4,872 situations. Out of those, volunteer tax obligations of Rs 26,605 crore was paid in 2023-24, up from Rs 20,713 crore in 2022-23.

As per the yearly file of the Directorate General of GST Intelligence (DGGI), regarding 46 p.c of the evasion situations linked to non-payment of tax obligation (with personal provide and undervaluation), 20 p.c pertaining to phony Input Tax Credit (ITC), and 19 p.c to incorrect availment/non-reversal of ITC.

In 2023-24, on the web computer gaming market noticed optimum evasion with Rs 81,875 crore in 78 situations, complied with by Banking, Financial and Insurance (BFSI) with Rs 18,961 crore evasion in 171 situations. Works settlement options and pharmaceutical had 343 situations and 22 evasion situations with tax obligation evasion entailing Rs 2,846 crore and Rs 40 crore, particularly.

In 2023-24, 1,976 situations of Goods and Services Tax (GST) evasion have been found in iron, copper, scrap and alloys fields entailing Rs 16,806 crore of tax obligation averted.

Pan masala, cigarette, cigarette and bidi got here 2nd with 212 situations entailing an evasion of Rs 5,794 crore. Plywood, hardwood and paper had 238 situations entailing tax obligation evasion of Rs 1,196 crore. Electronic issues noticed 23 situations (Rs 1,165 crore), complied with by marble, granite and ceramic tiles 235 situations (Rs 315 crore).

During 2023-24 financial, the entire GST evasion found by DGGI policemans and Central GST space mored than Rs 2.37 lakh crore in 20,576 situations. This consists of Rs 2.01 lakh crore found by DGGI in 6,084 situations and Rs 35,377 crore by CGST areas in 14,492 situations.

The discovery of GST evasion by DGGI has really been step by step climbing on condition that the roll-out of GST in 2017. In 2017-18, Rs 7,879 crore was found, complied with by Rs 19,319 crore in 2018-19, Rs 21,739 crore in 2019-20, Rs 31,908 crore in 2020-21 and Rs 50,325 crore in 2021-22.

(This story has really not been modified by News 18 staff and is launched from a syndicated info agency feed – PTI)