Sunday, March 16, 2025 | 03:16 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Govt sends 'GST evasion' letters to 150 companies for forged sales data

The data analysed belonged to the first eight months of the GST rollout

Govt sends ‘GST evasion’ letters to 150 companies for forged sales data
Premium

gst ,return filing

Indivjal dhasmana New Delhi
Indirect tax officials have issued letters to over 150 companies in Pune, Hyderabad and Bangalore, for suspected underreporting of their sales figures and payment of less goods and services tax (GST).
 
Basically, data mining by the Central Board of Indirect Taxes Customs (CBIC) showed that these companies are paying 95 per cent tax from input tax credit and five per cent from cash. As such, the letters asked these companies to produce documents as such a low value addition looks fishy, officials said.
 
"This indicates that the value addition is very low, which technically does not appear to

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in