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LATEST NEWS UPDATES | Government ropes in I-T department to crack down on GST fraud -Vikas Dhoot

Government ropes in I-T department to crack down on GST fraud -Vikas Dhoot

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published Published on Jan 3, 2021   modified Modified on Jan 4, 2021

-The Hindu

Data being pooled to track evasion, says Finance Secretary.

Tightening the noose around fraudsters rigging the Goods and Services Tax (GST) regime, the government has roped in the Income tax department to tap illicit incomes as part of a crackdown against 7,000 fraud companies, identified using data analytics tools, Finance Secretary Ajay Bhushan Pandey told The Hindu.

Any income traceable to the use of fake bills and other GST frauds shall be considered concealed income and attract severe penalties so direct tax collections may also get a leg-up while better compliance pushed GST collections to a record high of 1.15 lakh crore in December 2020.

“GST collections in December show the economy is undoubtedly on the fast recovery track. We have also been working on improving compliance for more than a year now, at the systemic level and at the enforcement level,” Mr. Pandey said.

“We will be honouring the honest, but at the same time, we will not hesitate from doing things to deter those who try to cheat the system. I think there is now a sense among the fringe elements, who were trying to game the system that it is not going to be so easy to continue in that fashion as the times have changed. And that is leading to better compliance,” he added.

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The Hindu, 3 January, 2020, https://www.thehindu.com/business/Economy/government-ropes-in-i-t-department-to-crack-down-on-gst-fraud/article33488214.ece?homepage=true


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