GST Evasion Of Rs. 5.7 Crore During July-November FY 18 Uncovered By Govt

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    As per the finance ministry, Goods and Service tax (GST) evasion to the tune of Rs. 5.7 crore has been uncovered by the government for the July-November period of the ongoing financial year in relation to some 16 cases. The new indirect tax regime came into force on July 1, 2017 that subsumed a dozen of local and central taxes including excise and service tax.

    GST Evasion Of Rs. 5.7 Crore During July-November FY 18 Uncovered By Govt

    Service tax evasion of Rs 9,660 crore during the April-December period of FY 2017-18 has further been earthed by the government in respect of 2,938 cases. The evasion in central excise and customs duty has also been unearthed which stood at Rs 7,242 crore and Rs 3,987 crore respectively for 614 and 26,969 cases respectively during the April-December period of the ongoing fiscal year.

    The minister added that as suitable the tax department takes action against evasion which may be in either of the following ways searches, seizure operation, income assessment, tax levy, prosecution filing before criminal courts or penalty.

    With Inputs From PTI

    Story first published: Tuesday, February 6, 2018, 18:47 [IST]
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