Fake ITC cases, trade fraud, fraudulent refunds under GST to be investigated by IT dept

The Centre and States have joined hands to formulate a nine-point strategy to streamline the Goods & Services Tax (GST) and plug revenue leakage. These include linking foreign exchange remittances with IGST refund for risky and new exporters, investigation of fraudulent ITC cases by the IT department, a single bank account for foreign remittance receipt, and refund disbursement, beside others.…