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1,377 exporters who claimed IGST refunds worth Rs 1,875 crore cannot be traced

1,377 exporters who claimed IGST refunds worth Rs 1,875 crore cannot be traced

1,377 exporters who claimed IGST refunds worth Rs 1,875 crore cannot be traced
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By Timsy Jaipuria  Jul 17, 2020 6:16:11 PM IST (Updated)

The revenue department recently came across to as many as 1,377 exporters who fraudulently claimed IGST refund amounting to Rs 1,875 crore.

In a bid to curb fake input tax credits being claimed under the goods and services tax (GST) regime, the revenue department in a recent drive came across to as many as 1,377 exporters who fraudulently claimed IGST refund amounting to Rs 1,875 crore, sources said.

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According to Finance Ministry sources, “the government found these 1,377 exporters untraceable at their principal place of business. Out of these, seven exporters are accredited star exporters.”
Additionally, government also received “adverse reports against three more star exporters.”
Star exporters are those who have excelled in international trade and successfully achieved a certain minimum amount of export performance.
“These 10 star exporters claimed IGST refund amounting to Rs. 28.9 crore deceitfully,” sources said.
The government has marked as many as 7,516 exporters as risky, based on assessment arrived at using indicators from customs, GST, income tax and DGFT data.
“The government has suspended IGST refund/drawback worth Rs 1,363 crore for 2,830 risky exporters. While adverse reports have been received with respect to 2,197 risky exporters,” sources added.
Indirect tax field formations too “detected offence cases amounting to Rs 115 crore against identified risky exporters. Also, out of the 234 suppliers' verification received so far, 82 suppliers were found non-existing at their principal place of business,” sources added.
As of today, “the government has shared details of these risky exporters with the central GST formations for physical and financial verification.”
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