Commercial Tax department finds 13 fake firms in Rajasthan

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Rajasthan’s Commercial Tax Department has found 13 fake firms, running only on papers, across the state. Simultaneous survey action was taken against different firms at 26 locations across the state on the direction of SGST Chief Commissioner, an official statement said. Action was taken after analysing the data available on various sites of GSTN.

Out of 26 firms, 13 firms were found to be running on papers with a total turnover of Rs 324.11 crore. Bogus input tax credit (ITC) of Rs 30 crore was found to be used by them and other firms attached to them, it said.

The department has immediately “blocked” the transactions of the paper firms and has informed the CGST for taking action against the firms, it added.

Source from: https://www.moneycontrol.com/news/trends/current-affairs-trends/commercial-tax-department-finds-13-fake-firms-in-rajasthan-6162101.html

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