https://www.taxtmi.com/news?id=21960 Coordinated enforcement action targeted schemes of exporters claiming fraudulent IGST refunds by using bogus Input Tax Credit. Data analytics applied red-flag indicators to Customs export and GST data revealing negligible cash tax payments, ineligible or fake supplier invoices, and exporters utilizing purported ITC to pay IGST and claim refunds. Simultaneous pan India searches uncovered many non existent or fictitious entities; preliminary records indicate substantial alleged bogus ITC and IGST refunds under examination, and intercepted export consignments are being examined for mis-declaration. en-us Thu, 12 Sep 2019 18:40:32 +0530 Thu, 12 Sep 2019 18:40:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=21960 Coordinated enforcement action targeted schemes of exporters claiming fraudulent IGST refunds by using bogus Input Tax Credit. Data analytics applied red-flag indicators to Customs export and GST data revealing negligible cash tax payments, ineligible or fake supplier invoices, and exporters utilizing purported ITC to pay IGST and claim refunds. Simultaneous pan India searches uncovered many non existent or fictitious entities; preliminary records indicate substantial alleged bogus ITC and IGST refunds under examination, and intercepted export consignments are being examined for mis-declaration. News - Thu, 12 Sep 2019 18:40:32 +0530 https://www.taxtmi.com/news?id=21960