GST Registration Cancelled: GST officials have so far canceled more than 4,900 fake GST registrations as part of a nationwide campaign. Apart from this, 17,000 such GSTINs have been identified in the campaign, which do not exist.
Fake GST Registration: Goods and Services Tax (GST) officials have so far canceled over 4,900 fake GST registrations as part of a nationwide campaign. Apart from this, 17,000 such GSTINs have been identified in the campaign, which do not exist. A senior tax official gave this information on Wednesday. At present there are about 1.40 crore companies or businesses registered under GST. Before GST was implemented, this number was half in the old indirect tax regime.
Thousands of GSTINs suspended and canceled
Central Board of Indirect Taxes and Customs (CBIC) member Shashank Priya said that till July 4, field officers have selected over 69,600 GST identification numbers (GSTINs) for physical verification in the drive against fake registrations. Of these, over 59,000 GSTINs have been verified and 16,989 are non-existent. Out of these 69,600 GSTINs, more than 11,000 GSTINs have been suspended and 4,972 registrations have been cancelled.
Campaign against fake GST registration will continue till July 15
In these cases, tax evasion of over Rs 15,000 crore has been detected, input tax credit (ITC) of about Rs 1,506 crore has been blocked and tax refund of Rs 87 crore has been realized in these cases, Priya said at industry body Assocham’s GST National Convention. Recovery has taken place. The two-month long special drive, which began on May 16, to curb bogus registration under GST, will end on July 15. Fake registration under GST is a big risk, as fraudsters issue fake bills or invoices to wrongly claim ITC and defraude the government.
