27 thousand returns, 28000 crore refund claims, many of these staggering figures are being raised in the investigation related to frauds. Apart from this, the data analytics wing of GST found that the claims of input tax credit are being grossly fraudulent. Now a big provision has been made in the budget to curb this fraud. How much business is being done in the market, how many purchases have been made, how much is the shopkeeper selling, this figure will be known through consumer invoices.
For this, the QR code will be printed on the consumer bill, which can be printed when issuing the bill online. This can indicate the final sale ie the purchase made by the consumer. This data will be collected with the data wing of GST. The same customers also ask for Q-R code bill, for which they will be given an incentive. Consumers paying with Q-R code will get a discount in cash payment. The customer has taken a bill containing the Q-R code, his Q-R code can be known as soon as he makes the payment. The GST data analysis wing analyzed the claims for input tax credit (ITC) refunds after filing returns. Apart from this, it was found that a big fraud has been made in the claims of ITC. Many fake companies have claimed fake ITC by doing fake billing. About 6600 such cases were caught.
The highest number of cases occurred in Kolkata, then Delhi, Haryana and Rajasthan. In this fraud, fake bill makers, dealers, distributors, fake sales companies and fake purchase companies were involved. To prevent this from happening further, the government is going to take the step of billing the QR code after Aadhaar verification, in which a large number of customer bills will be issued. It was told in the budget that more than 800 crore invoices were issued this year. This number may increase further. In such a situation, the data from them will become the basis of preventing tax evasion and fraud. These invoices will have a dynamic QR code. Customers will also pay by QR code. They will also be given an incentive for doing so.
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