With the help of data analytics and certain risk parameters the Tax Research Unit, Excise and Taxation Department identified 234 Suspicious Taxpayers across the state. Subsequently, based on this information, a special drive for investigation/enquiry against these taxpayers was conducted by the field formations from August 10, 2021 to August 25, 2021.
It was found that out of these 234 taxpayers, 225 were physically verified, of which 89 taxpayers were found to be bogus / fake / non-existent. These fake/non-existent firms had a combined turnover of ₹1323.43 Crores during F.Y. 2020-21 and had claimed Input Tax Credit worth ₹303.63 Crores from the date of their inception.
As a preventive measure, Input Tax Credit (ITC) of these suspicious taxpayers worth ₹21.86 Crores has been blocked and an amount of ₹35.52 lakhs has been recovered through ITC and Cash so far. Further investigation is under process.
It is reiterated that the Government of Haryana has zero tolerance for fake / bogus firms and appropriate action under the Act will be taken against people floating such bogus firms and recipients availing ITC from such bogus firms.
The Press Release can be accessed at: http://www.a2ztaxcorp.com/wp-content/uploads/2021/09/Haryana-Govt.-Press-Release-01092021.pdf