Rs 15,000 crore fake ITC claims found in special drive, says CBIC chief Vivek Johri

The Central Board of Indirect Tax and Customs have found fake input tax credit claims of Rs 15,000 crore in a special drive that they are undertaking to identify bogus entities, it's Chairman Vivek Johri said. "60,000 entities have been identified for physical verification under a special drive to plug fake ITC cases under GST," Johri told reporters on the sidelines of the conference on Trade Facilitation organised by CII.

So far, physical verification has been done for 43,000 entities out of which 10,000 were found non-existent and bogus, which have claimed Rs 15,000 crore of ITC. "10,000 entites found were bogus out of 43,000 under GST drive after physical verification. Rs 15,000 crore is the fake ITC claimed by these 10,000 entities," he said.

The Centre is also thinking of measures to resolve fake ITC claims issue which will be taken up in Council meeting on July 11.