Three booked by GST dept for Rs 43 crore input tax credit fraud
Three booked by GST dept for Rs 43 crore input tax credit fraud Goods and Services Tax (GST) The Goods & Services Tax (GST) department has lodged a criminal offence against three persons for their alleged involvement in an Input Tax Credit fraud of Rs 43 crore. Input credit means at the time of paying tax on output, one can reduce the tax he/she has already paid on inputs and pay the balance amount. After the alleged fraud came to light, the GST department got a criminal offence registered against the trio with the Mahim police station on Monday, the officials said.
Source: freepressjournal.in