A worker holds his goods and services tax (GST) papers in his store at a wholesale market (Photographer: Anindito Mukherjee/Bloomberg)

GST Evasion Worth Rs 3,026 Crore Detected In A Year: Government

The government has detected goods and services tax evasion worth Rs 3,026 crore in the last one year in relation to misuse of input tax credit and non-payment of taxes, the Rajya Sabha was informed today.

In a written reply, Minister of State for Finance Shiv Pratap Shukla said between July 2017 and June 2018, a total of 1,205 cases of tax evasion were detected. In a separate reply, Shukla said a total of 487 cases involving an amount of Rs 1,320 crore have been detected in the months of May and June this year.

Businesses with turnover of over Rs 500 crore account for 79.5 percent of the total taxes collected by the government, he said. “Government is taking necessary measures to increase tax compliance for all categories of tax payers.”

In another reply, the minister said 3,634.5 kilograms gold worth Rs 1,078.7 crore has been seized since the implementation of GST, from July 1, 2017. “All Directorates have been alerted to be vigilant and to carry out proper checks to thwart and detect the cases of smuggling of gold,” Shukla said, adding GST aids to control the unofficial import of gold into India.

Also read: GST Rate Cuts Credit Negative For India, Says Moody’s