𝗚𝗦𝗧 𝗲𝘃𝗮𝘀𝗶𝗼𝗻 𝗼𝗳 𝗼𝘃𝗲𝗿 𝗥𝘀 𝟰𝟰,𝟬𝟬𝟬 𝗰𝗿𝗼𝗿𝗲 𝗱𝗲𝘁𝗲𝗰𝘁𝗲𝗱 since May: Finance Ministry Ministry revealed that total of 29,273 bogus firms, implicated in suspected Input Tax Credit ITC evasion amounting to Rs 44,015 crore, have been unearthed since May 2023

The Ministry highlighted that the extensive drive against fake registrations has resulted in savings of Rs 4,646 crore, with Rs 3,802 crore attributed to ITC blocking and Rs 844 crore through recovery.

Furthermore, the Ministry reported a total of 121 arrests in connection with these cases. In the October-December quarter, 4,153 bogus firms, involving suspected ITC evasion of approximately Rs 12,036 crore, were identified.

Among these, 2,358 were detected by Central GST Authorities, safeguarding revenue amounting to Rs 1,317 crore. Out of this, Rs 319 crore has been realized, and Rs 997 crore has been protected by blocking ITC, the Finance Ministry said.