Excelsior Correspondent
JAMMU, June 6: Directorate General of Goods and Service Tax Intelligence (DGGI) has detected evasion of GST worth several crores of rupees by a company in Anantnag district of the Kashmir valley. More searches are underway throughout the Valley and figures of evasion are likely to go up considerably.
According to the sources, on the basis of specific intelligence and in a drive against the menace of fake input tax credit and fake GSTINs, Directorate General of Goods and Service Tax Intelligence (DGGI) conducted searches at the premises of a company in Anantnag, which is engaged in road construction business in various districts of Union Territory of Jammu and Kashmir.
During searches, the management of the company admitted its indulgence in availing fake ITC on the basis of good-less invoices after they were confronted with irrefutable evidences of tax evasion, sources said, adding “the modus operandi adopted by the unscrupulous evaders was that they fraudulently took and utilized input tax credit on the basis of fake invoices of non-existent suppliers, which are paper transactions only, as goods mentioned in such bills were never received”.
“There are more searches underway throughout the Kashmir valley and more evasion of GST is likely to be detected”, sources further said.
The DGGI is an apex intelligence organization functioning under the Central Board of Indirect Taxes & Customs, Department of Revenue , Ministry of Finance, Government of India, entrusted with the task of collection, collation and dissemination of intelligence relating to evasion of Goods and Service Tax (GST) on all India basis.
It is pertinent to mention here that Central Board of Indirect Taxes has a very good reward policy for the informers who provide specific information relating to evasion of GST.
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