{"id":9110,"date":"2024-06-14T14:12:23","date_gmt":"2024-06-14T14:12:23","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=9110"},"modified":"2024-06-14T14:12:23","modified_gmt":"2024-06-14T14:12:23","slug":"gujarat-loses-rs-171-crore-to-gst-evasion-in-q1","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/gujarat-loses-rs-171-crore-to-gst-evasion-in-q1\/","title":{"rendered":"Gujarat loses Rs 171 crore to GST evasion in Q1"},"content":{"rendered":"

The state exchequer inGujaratlost Rs171 crore in the first quarter of 2021-22. The involvement of some 99 trading entities is suspected in this evasion. The details came to Light<\/a> after the state GST (SGST) department began probing traders who tend to claim excessITC.
During the first quarter of 2021-22, the department identified some 99 big trading entities involved in such practice. Inquiry has been initiated against the culprits. Further investigation revealed that some 78 trading entities did not exist at all, indicating a fake billing scam.<\/p>\n

The department was compelled to use technology to fish out such culprits as it came to their notice while examining sales and purchase returns that excess ITC is being claimed by traders to evade taxes.<\/p>\n","protected":false},"excerpt":{"rendered":"

The state exchequer inGujaratlost Rs171 crore in the first quarter of 2021-22. The involvement of some 99 trading entities is suspected in this evasion. The details came to Light after the state GST (SGST) department began probing traders who tend to claim excessITC. During the first quarter of 2021-22, the department identified some 99 big … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1084],"tags":[805],"class_list":["post-9110","post","type-post","status-publish","format-standard","hentry","category-gujarat","tag-13-08-21"],"yoast_head":"\nGujarat loses Rs 171 crore to GST evasion in Q1 - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/2024\/06\/14\/gujarat-loses-rs-171-crore-to-gst-evasion-in-q1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gujarat loses Rs 171 crore to GST evasion in Q1\" \/>\n<meta property=\"og:description\" content=\"The state exchequer inGujaratlost Rs171 crore in the first quarter of 2021-22. The involvement of some 99 trading entities is suspected in this evasion. The details came to Light after the state GST (SGST) department began probing traders who tend to claim excessITC. During the first quarter of 2021-22, the department identified some 99 big ... 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The involvement of some 99 trading entities is suspected in this evasion. The details came to Light after the state GST (SGST) department began probing traders who tend to claim excessITC. During the first quarter of 2021-22, the department identified some 99 big ... 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