GST Officers Bust 304 Syndicates & Expose Rs 25,000 Crore Fraudulent GSTINs And Tax Credit Claims

During the ongoing crackdown on fraudulent firms, GST officers have successfully dismantled 304 syndicates involving 9,000 counterfeit GSTINs and fraudulent input tax credit claims amounting to a staggering Rs 25,000 crore.

CBIC chairman Vivek Johri brought attention to a worrisome statistic, revealing that a mere 40 percent of the corporate income taxpayer base has enrolled in the Goods and Services Tax (GST) system.

Despite being introduced six years ago on July 1, 2017, only 1.39 lakh businesses have taken the step to register under GST.