JKSTD initiates special drive against fake claims of Input Tax Credit

JAMMU, MAY 29: Jammu and Kashmir State Taxes Department (JKSTD) today initiated a special drive against the practice of claiming fake Input Tax Credit (ITC) to plug the leakage in Government revenue.

As per officials, the drive was carried at various business units across Jammu simultaneously by jurisdictional officers under supervision of Additional Commissioner (Administration and Enforcement) Namrita Dogra and overall directions of Commissioner State Taxes, J&K P. K. Bhat.

The official spokesperson said that suspected dealers have been identified after a thorough scrutiny of transactional history with the help of advanced technical tools for data analytics besides using its intelligence network across the country to collect such information. The teams collected vital documents from the premises of inspected units for verification.

An officer of JKSTD said that the drive was initiated against the dealers to tackle the menace of GST evasion, particularly the fake ITC claims and circular trading leading to tax evasion.

He said department develops specific intelligence, after which these units were inspected.

Sharing further details, the officer said that visiting teams collected vital information and further assessment of documents is going on.

Warning the tax evaders, the officer further added that to curb fraud in Goods and Services Tax (GST) and increase compliance, such inspections will intensify in coming days across Jammu and Kashmir.