New Delhi: 4181 firms have been hit by fraudulent transactions in the GST by the paper business, amounting to crores of rupees. In about 8 months, the Commerce Tax Department has started the investigation by canceling the registration of all these firms. The owners of these firms are accused of making false claims of ITC claim by doing paper business and not filing returns.
According to the sources of the Commerce Tax Department, the mastermind businessman of GST's online registration system charges crores of rupees from the paper business to the Commercial Tax Department. Action is taken by the department by investigating the firms involved in fraudulent transactions from the GST portal. In the same sequence, the department conducted a closely scrutinized registration during the lockdown period caused by corona. Investigations by departmental officers revealed that the months of May and June were virtually unregistered.
From July to February, 14, 478 firms registered in the GST were monitored on the business activities from the portal, the fraud involved in the paper, and tax evasion of the firm was caught. The Central Goods and Services Tax Department has arrested five fraudulent traders in two and a half months. It has batteries, building materials, and tobacco products businesses. Under the guise of one or two registered firms, dozens of fake firms were traded and made crores.
Also Read:
Hema Malini receives COVID-19 vaccine jab in Mumbai
Big announcement of Jharkhand govt, farmers loans up to Rs 1 lakh will be waived soon
