look news india
Ludhiana News: The Directorate General of GST Intelligence (DGGI) has arrested two masterminds involved in a fake GST billing scam of over Rs 700 crore. The accused have been identified as Manish and his brother Amit, residents of Gurmukh Singh Colony, Mandi Gobindgarh. The accused allegedly created fake firms by committing fraud. In this elaborate scam, fake invoices and Input Tax Credit (ITC) were created. Due to which the government has suffered a tax loss of more than Rs 100 crore.
According to officials, both the accused ran a strong network of fake firms, which fraudulently passed on ITC to the intermediary companies. The fraudulent funds were transferred to seven APMC accounts from where the two brothers withdrew over Rs 717 crore from the same bank branch.
During raids at their residences and official places, DGGI seized important evidence including 11 mobile phones, 7 pen drives, 2 laptops, 56 check books linked to various bank accounts, 27 identity documents, 7 tickets and 46 ATM cards of various persons. . Were recovered. Both the brothers have reportedly confessed to their involvement in the fraud. Both were arrested. He has been sent to judicial custody as the investigation is ongoing.
DGGI Ludhiana is now focusing on identifying more dummy entities involved in such fraudulent activities related to fake billing and tax evasion. Authorities have stepped up efforts to tackle the growing menace of fraudulent billing in the region and more arrests are expected in the near future.
