LI Network
Published on: 25 July 2023 at 13:25 IST
The Indian government has revealed startling figures related to Goods and Services Tax (GST) invoice fraud, indicating a substantial financial dent. According to data presented by the finance ministry in the Lok Sabha, the country has witnessed over 26,250 cases of GST invoice fraud between the financial years 2018-19 and 2022-23.
The total estimated amount detected in these fraudulent activities amounts to a staggering Rs 1,15,457 crore.
Junior Minister for Finance, Pankaj Chaudhary, while responding to a question, disclosed that 1,239 individuals have been arrested in connection with these fraudulent cases. However, the realization of funds from these cases has been relatively limited, standing at just over Rs 10,000 crore.
A detailed analysis of the official data highlights Maharashtra as the state with the highest number of GST invoice fraud cases, reaching 5,021, with a detected amount of Rs 30,000 crore. Gujarat follows closely with 4,486 cases, and Delhi ranks second in terms of the detected amount, amounting to Rs 14,00 crore.
Another alarming aspect is the misuse of Aadhaar and PAN for fraudulent GST registrations. The government has identified a significant 5,070 cases between July 2017 and June 2023, where individuals resorted to illegal means to gain GST registration benefits, resulting in a financial impact of over Rs 27,400 crore.