The GST Council on July 11 will discuss some more measures to tighten the noose on fake registration and fraudulent generation of input tax credit (ITC) as it looks to check tax evasion, a top official said on Friday.
“We are thinking of some other measures and we will take them through the due process of the law committee and GST council,” Central Board of Indirect Taxes and Customs Chairman Vivek Johri told reporters.
The 50th meeting of the GST Council is scheduled on July 11.
The Council will also discuss the GoM report on online gaming, casinos and horse racing and will circulate it to the states soon. The GoM submitted its report to the Council in December last year, but the Council has not taken it up for discussion.
Further, the Council will also decide on a convenor for the Group of Ministers (GoM) on rate rationalisation.
Former Karnataka Chief Minister Basavaraj Bommai was the convenor of the panel and now with the change of Government in Karnataka, the Council has to select a new convenor.
The GST officers already have initiated a two-month special drive against fake registration.
During the drive, GST Network has identified 60,000 entities which could be having fake registration and for that central and state tax officers have initiated physical verification of the premises.
“We have completed 43,000 verifications. Of which 10,000 have been found to be bogus involving fake ITC claims of Rs 15,000 crore,” Mr Johri added.
Sources said the rationalisation of the GST rate is not under consideration by the council. Currently, cement attracts a GST of 28 per cent.
(Except for the headline, this story has not been edited by String Reveals staff and is published from a syndicated feed.)