Rs 2 trn GST evasion detected in FY24, online gaming most prone to evasion
Investigation arm DGGI has detected 6,084 cases involving Rs 2.01 lakh crore of GST evasion in 2023-24 fiscal, with online gaming and BFSI in services and iron, copper, scrap and alloys in goods emerging as the sectors most prone to evasion. The amount is double of over Rs 1.01 lakh crore detected in 2022-23 in 4,872 cases. Out of these, voluntary taxes of Rs 26,605 crore was paid in 2023-24, up from Rs 20,713 crore in 2022-23. As per the annual report of the Directorate General of GST Intelligence (DGGI), about 46 per cent of the evasion cases related to non-payment of tax (through clandestine supply and undervaluation), 20 per cent related to fake Input Tax Credit (ITC), and 19 per cent to wrong availment/non-reversal of ITC. In 2023-24, online gaming sector saw maximum evasion with Rs 81,875 crore in 78 cases, followed by Banking, Financial and Insurance (BFSI) with Rs 18,961 crore evasion in 171 cases. Works contract services and pharmaceutical had 343 cases and 22 evasion case
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