BSH NEWS
BSH NEWS “Protect your personal data which may be used for creating fake entities in GST for evasion of taxes,” the CBIC tweeted
Topics
Aadhar card | Pan card | tax evasion
The CBIC on Thursday cautioned the public against sharing Aadhaar and PAN details without a valid reason or for monetary gains, saying that the information could be misused by fraudsters for GST evasion.
In a tweet, the Central Board of Indirect Taxes and Customs (CBIC) said Aadhaar and PAN details can be used for creating fake entities in GST for evasion of taxes and hence people should refrain from sharing these without a valid reason.
“Protect your personal data which may be used for creating fake entities in GST for evasion of taxes,” the CBIC tweeted.
Over the past years, Goods and Services Tax (GST) officers have busted several bogus firms, which were used to raise fake invoices without any actual supply of goods. The sole intention is to fraudulently claim input tax credit (ITC).
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
BSH NEWS 
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
First Published: Thu, March 03 2022. 14:46 IST