Fraudulent disclosure of 49850 crore rupees by 26 companies, 1 arrested

Jan 09 2021 10:27 AM
Fraudulent disclosure of 49850 crore rupees by 26 companies, 1 arrested

Mumbai: In Maharashtra, fraudulent transactions worth Rs 498.50 crore have been revealed by 26 companies. The Directorate General of GST Intelligence (DGGI) has recently reported that it also includes fake input tax credit (ITC) of Rs 12.78 crore. It is being told that a person was recovered from the spot and arrested.

These days a campaign is going on against fake bills and according to this the officers of Nagpur area unit of DGGI raided various industrial areas in the state last fortnight. During this time it was also revealed that the commercial companies concerned were trading in different types of taxable goods. It includes betel nut, coal to cloth and iron and steel. Many companies did not exist nor did they get their non-commercial residential property.

These companies had uploaded fake bills of electricity and rent agreement on GST portal for the business address. Now, in this case, fake input tax credit of Rs 89.73 crore has been received on fake transaction of Rs 498.50 crore. Out of this, cash amounting to Rs 12.78 crore was found during the raid. It is being told that another fake bill racket is expected to be busted in the interrogation of the arrested person.

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