Involuntary reversal of ITC: GST intelligence Department realises GST of Rs.343.56 Crores

The Central of Board of Indirect Taxes and Customs(CBIC) issued a newsletter for the month of February wherein the CBIC Chairman informed that the GST Intelligence Department has realized GST of Rs. 343.56 Crores for involuntary reversal of ITC.

The Letter stated, “On the enforcement front, last week saw the Directorate General of GST Intelligence (DGGI) realize an amount of Rs.343.56 Crore in a case involving non-payment of GST on certain taxable supplies and non-reversal of Input Tax Credit on loss of inputs on which credit had been availed. Hearty Congratulations to Pr. Director General, Directorate General of GST Intelligence and his team of officers for an excellent detection.”

Last week, officers of the Directorate Revenue Intelligence (DRI) interdicted a passenger arriving at the Mumbai International Airport. Examination of the passenger’s baggage resulted in the recovery of 11. 94 kg of Heroin valued at about Rs. 84 Crores in the illicit market. Following up on the interdictions, the officers also apprehended the supposed recipients of the contraband.

In another case, officers from Nagpur Customs detected a case of smuggling of Areca Nuts concealed and misdeclared as Dry Dates. The detection led to the recovery of over 33 MTs of Areca Nuts attracting Customs Duty to the tune of Rs. 6.41 Crores. Kudos the officers for their hard work.

For Official News Letter Download PDF Given Below: