- Gujarat has seen a 515% increase in GST evasion over the past four and a half years.
- Reasons for the increase could be poor compliance and increased detection of fake billing scams.
- In FY 2023-24, Gujarat reported an evasion of Rs 12,066.8 crore, which is 19.36% higher than the previous fiscal year.
- Over the past four and a half years, the state has seen GST evasion of Rs 38,245.7 crore, with only 24% of the evaded taxes being recovered.
- Industry sources attribute the rise in evasions to better detection by the department and amendments to the law.
- The use of data analytics and biometric verification is being implemented to detect evasion and prevent fake registrations.
Source: a2ztaxcorp.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "India"
- GST on Hotel Rooms ≤ Rs 7,500: 5% Rate, No ITC for Hotels or Business Travellers
- GSTN Releases Key FAQs on GSTR 9/9C Filing for Financial Year 2024-25
- Supreme Court: VAT Credit Cannot Be Denied Due to Supplier’s Tax Default
- Trickiest countries in which to achieve compliance
- India announces changes in the Invoice Management System
