Excelsior Correspondent
JAMMU, Mar 9: In a major enforcement action, 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 utilizing inadmissible Input Tax Credit (ITC) to the tune of Rs.9.32 crore.
An official spokesman said that 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, two companies admitted to have wrongful availed Input Tax Credit (ITC) and have now deposited the total amount of Rs.9.32 crore.
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 crore from period between 1st February, 2018 and 09th March, 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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