State finance ministers' panel discusses ways to curb ITC frauds, sector-specific tax evasion

Sawant-chaired GST GoM meeting flags input tax credit frauds – The Navhind Times

Special Correspondent Panaji: Chief Minister Pramod Sawant on Friday chaired a meeting of the group of ministers (GoM) on goods and services tax (GST) revenue analysis to review state-wise revenue trends and identify actionable strategies for improved GST collections. The meeting held in New Delhi also discussed sector-specific tax leakages and corrective action to curb over Rs 2 lakh crore input tax credit (ITC) frauds. The GoM identified ITC f…

State finance ministers' panel discusses ways to curb ITC frauds, sector-specific tax evasion

New Delhi, Jul 4 (PTI) A panel of state finance ministers on Friday discussed tax evasions in specific sectors as it mulled over policies to check input tax credit (ITC) fraud which has reached a staggering Rs 2 lakh crore. The Group of Ministers (GoM) on GST revenue analysis under Goa Chief Minister Pramod Sawant also discussed comparative analysis of pre- and post-GST revenue trends, e-invoicing and IT system enhancements for better traceabili…