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1300 exporters who claimed GST refunds are now untraceable

  • Sep 30, 2020 | Divita S Gupta

Over 1300 exporters who have fraudulently claimed ITC worth ₹1875 crore have been found to be untraceable and do not operate from their registered place of business. In a bid to reduce tax fraud numbers and mitigate tax risk, the CBIC created a risky exporters list. This list has over 7,500 exporters of which the IGST refund claims (worth ₹1,300 crore) of over 2,800 exporters has been suspended. These risky exporters have been identified on the basis of risk specific parameters created using data provided by Customs, GST, Income Tax and DGFT. 

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Avalara Author
Divita S Gupta
Avalara Author Divita S Gupta
Divita has served as a writer and editor for top financial services organizations in India. She has written on topics like mutual funds, insurance, taxes, SME financing for globally recognized banking and financial organizations including ICICI, Aditya Birla Group, News Corp. With a Masters in Business Administration from Symbiosis International University, she currently owns a small business in Mumbai.