GSTN to share information with ED and FIU


New Delhi: Those who evade tax through fake bills are no longer safe. Now the government has decided to bring the Goods and Services Tax Network (GSTN) under PMLA. Notification has been issued for this. GSTN has been included in the list of entities whose information is required to be shared with the ED and the Financial Intelligence Unit (FIU). This means that now ED and FIU will be able to directly interfere in GST related matters. Along with this, ED will be able to take direct action against GST evasion firm, trader or organization. This will help ED in cases related to GST evasion.

According to the notification issued by the government, the data of GST network will be shared with ED and FIU. There are now a total of 26 entities in this list. If FIU and ED find any suspicious forex transaction of any GST assessee, they will share the information with GSTN. The ED is probing a case of fake GST registration. In this case, it has come to light that some people got GST registration using stolen PAN and Aadhaar and created shell companies for money laundering.

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11,000 GSTN numbers suspended

60,000 GST Identification Numbers have been selected for physical verification by the Central and State Government GST authorities. Field tax officers across the country are verifying them. Of these, more than 50,000 numbers have been verified. Out of this, 25% have turned out to be fake and till now more than 11,000 GSTNs have been suspended. The Central Board of Indirect Taxes and Customs (CBIC) is taking several steps to check tax evasion. CBIC Chairman Vivek Johri had said last month that the government was serious about checking bogus billing and bogus invoicing and identifying shell businesses.

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