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| Central GST Commissionerate recovers Rs.10.38 crores | | | Early Times Report
Jammu, Mar 9: In a major case of enforcement action against GST tax evasion in the State, the officers of the Central GST Commissionerate, Jammu have unearthed irregularities in GST tax payments by two companies. These companies were found to be claiming and utilising inadmissible Input Tax Credit (ITC) to the tune of Rs.9.32 crores.
These companies had inflated the figures of ITC credit in their GST accounts by misusing the transitional provisions for the transfer of tax credits from the pre-GST tax systems, like state VAT and Central Excise Duty. Such inflated credit amounts were wrongly used to off-set their GST tax liability, in lieu of making these payments in cash.
As a consequence of the detection by the officers of the Central GST, the two companies admitted to the wrongful availment of Input Tax Credit (ITC) and have now deposited the total amount of Rs.9.32 crores.
Further, the Anti-Evasion wing of Central GST Commissionerate under the supervision of Gyan Sarvar Commissioner has recovered the GST revenues to the tune of Rs. 10.38 Crores from period starting 1st February,2018 to March 9, 2018. He said that a dedicated task -force led by Assistant Commissioner (Anti-Evasion) Iftikhar Ahmed Chowdhary under the guidance of Additional Commissioner C.L.Dogra is undertaking a detailed scrutiny of such suspect ITC claims and strict actions would be taken as per law to safeguard the government revenues. |
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