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Fake ITC bill scams busted in Delhi and Maharashtra

Separately, the central GST commissionerate in South Delhi busted a syndicate of firms involved in availing invoices and e-way bills issued on the GST identification numbers of fake firms and obtaining IGST refunds on these documents.Separately, the central GST commissionerate in South Delhi busted a syndicate of companies concerned in availing invoices and e-way payments issued on the GST identification numbers of pretend companies and acquiring IGST refunds on these paperwork.

The GST intelligence directorate has arrested a Maharashtra lawmaker’s (MLA) son for issuing faux invoices price Rs 520 crore of enter tax credit score (ITC), sources within the tax division stated. The arrest was a part of a pan-India drive undertaken by the oblique tax division’s intelligence wing.

Sunil Gutte, son of MLA Ratnakar Gutte, was arrested alongside along with his affiliate after it was discovered that the agency wherein he’s a director had been engaged in availing `304 crore price of ITC fraudulently whereas additionally passing Rs 216 crore price of ITC to different a number of entities. The ITC was availed primarily based on faux invoices with out precise provide or receipt of products and companies.

“It appears the main objective was to inflate the turnover of his firm artificially, and obtain enhanced credit limit from the bank,” an official stated.

About two yr in the past, Gutte’s brother, a film director, was additionally arrested for availing fraudulent IGST refunds. “Their father who owned a sugar mill was also booked by Maharashtra police and enforcement directorate for allegedly availing loans worth Rs 328 crore from six banks, using names of 2,298 farmers, some of whom were dead, from some villages in Parbhani district,” one other official stated.

Separately, the central GST commissionerate in South Delhi busted a syndicate of companies concerned in availing invoices and e-way payments issued on the GST identification numbers of pretend companies and acquiring IGST refunds on these paperwork.

The agency in query M/s Baan Ganga Impex availed invoices from the faux entities amounting to about Rs 685 crore involving GST of Rs 50 crore and succeeded to get refund of Rs 35 crore.

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