GST officers bust community of 46 faux companies used to fraudulently declare Rs 82 crore enter tax credit score
1 min read Image Source : FILE/INDIA TV GST officers bust community of 46 faux companies used to fraudulently declare Rs 82 crore enter tax credit score
GST officers have busted a community of 46 faux companies which used to generate faux invoices and fraudulently avail enter tax credit score (ITC) price Rs 82.23 crore, the finance ministry mentioned on Tuesday. Through the usage of in depth knowledge analytics, officers of Delhi East GST had been capable of establish and unravel a community of 46 faux companies which had been working since 2017 and had handed on faux ITC to a number of of beneficiaries, it mentioned in a press release.
“The investigation conducted revealed that the fictitious firms were being controlled by Arvind Kumar and his associates. He was arrested on January 17 and is in judicial custody till date,” the ministry added.
The ministry additional mentioned Kamal Singh (alias Kamal Solanki), a key affiliate of Kumar, additionally has confessed to have been concerned within the racket of faux billing via which faux invoices of Rs 541.13 crore had been raised involving faux ITC of Rs 82.23 crore, which is predicted to extend because the investigation progresses.
Kamal Singh has additionally been arrested and remanded to judicial custody until February 23.
Since the inception of the GST Central Tax Delhi Zone, 21 have been arrests in varied instances involving GST evasion amounting to greater than Rs 3,791.65 crore, the Ministry mentioned.
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