Rs 62,000 Crore GST Evasion Detected

Tax authorities have detected Rs 62,000 crore (Rs 620 billion) worth of goods and services tax (GST) evasion (or frauds) using fake invoices during the past three years, said a senior official of the Central Board of Indirect Taxes and Customs (CBIC). This is the primary reason the government kept such offences out of the increased monetary threshold of Rs 2 crore (Rs 20 million) in the recent GST…