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The finance ministry tightened the grip on the thieves of GST | The Finance Ministry took this motion in opposition to white-collar who wrongly took benefit of GST – jj
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The finance ministry tightened the grip on the thieves of GST | The Finance Ministry took this motion in opposition to white-collar who wrongly took benefit of GST

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new Delhi: The Finance Ministry has again clamped down on the GST thieves. The Finance Ministry found that some exporters of the Star category are unfairly taking advantage of the GST. Any exporters in the Star category have to export 3 million dollars annually. They also get GST refunds. But these 'stars' took refunds but their turnover was not as a star exporter.

The data for the year 2017-18, 2018-19 of Inter State GST Refunds showed that in 241 cases 82 data are mismatching. In 40 cases, the turnover is less than Rs 1 crore. While refunds have been taken in lakhs and crores. A readymade garment exporter exported Rs 50 crore. A refund of Rs 3.90 crore was demanded on this, while GST paid was only Rs 1650. Due to such antics, the CBIC had instructed them to keep a close watch in the risky exporter group so that they can be caught. Their income tax, GST and refund were all being matched. Data matching caught theft.

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Investigations found that while 9 exporters could not be found, they are missing. While the offices of two exporters were sealed, it was found that the bank has sealed due to NPA. The Finance Ministry asked DGFT to pay attention to these and create the right system for export. DGFT ie Director General of Foreign Trade, is the department of commerce ministry that controls and monitors import exports.

Under the Foreign Trade Policy, those who export $ 3 million for four consecutive years are encouraged to increase their exports. Star category is also part of the same. But seeing the misuse of it, the Finance Ministry has directed that a full proof system should be made for this category so that the right exporter gets the benefit and action is taken to identify the wrong people.

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