CBIC finds 1,377 exporters as untraceable; detects Rs 1,875 crore fraud claims by these exporters – The Economic Times

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Field formations of Central Board of Indirect Taxes and Customs (CBIC) have found that 1,377 exporters, which have fraudulently claimed integrated goods and service tax (IGST) refund of Rs 1,875 crore, to be untraceable at their place of business.

Of this large number of risky exports, 10 star accredited exporters have wrongfully claimed refunds of Rs 28.9 crore. Official sources said that 7516 exporters were on the risky exporter list as on date, of which IGST refund or drawback of 2830 exporters worth Rs 1363 crore has been suspended.

“Adverse reports have been received in respect of 2197 risky exporters,” sources said, asking not to be named.

CBIC field formations have detected offence cases amounting to Rs 115 crore against identified risky exporters, of which 234 suppliers’ verification have been received but 82 suppliers have been found non-existing at their principal place of business.

Exporters are identified as “risky” on the basis of specific risk indicators based on customs, GST, income tax and Director General of Foreign Trade data.

The identified risky exporters are shared with the CGST formations for physical and financial verification as standard procedure of GST policy wing for Central GST formation.

Sources said that in 695 cases positive reports have been received from CGST formations, where supply chain analysis has been done to find that their suppliers have availed ineligible input tax credit.

Out of these, in 461 cases IGST refund or drawback amounting to Rs 273 crore is under suspension.

“These risky suppliers have been shared with jurisdictional field formations for their physical or financial verification and to verify the ineligible ITC availed by them,” sources added.

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