STOCK MARKET BSE NSE

Rs 1,819 crore fake GST invoice racket busted, two held in Odisha

The racket had availed bogus input tax credit (ITC) of Rs 323 crore by raising fake purchase and sale invoices in the names of 13 fictitious firms incurring a loss of Rs 58.14 crore to the treasury.

Published: 03rd September 2021 09:20 AM  |   Last Updated: 03rd September 2021 09:20 AM   |  A+A-

Representational Image, GST carpet

For representational purposes. (Photo | EPS)

By Express News Service

BHUBANESWAR:  In one of the biggest GST frauds detected in Odisha in recent times, the enforcement wing on Thursday, September 2, 2021, busted a racket involved in fake invoicing of Rs 1,819 crore and arrested two persons.

The racket had availed bogus input tax credit (ITC) of Rs 323 crore by raising fake purchase and sale invoices in the names of 13 fictitious firms incurring a loss of Rs 58.14 crore to the State exchequer. Masterminds behind the racket Chartered Accountant Amit Kumar Agrawal and proprietor of SS Syndicate Satindra Kumar Yadav have been arrested.

Commissioner of CT and GST Sushil Kumar Lohani said the duo in collusion with others has availed and passed on bogus ITC to the recipients outside the State. Taking advantage of simplification of GST, the fraud has been committed by the culprits, he said.  

Since the tax fraud has spread over different states including West Bengal, Jharkhand, Chhattisgarh and Delhi, the enforcement officers have moved to different places and conducted investigations taking the help of the jurisdictional officers.  

Of the 13 fictitious firms, the proprietors of three companies are found to be jute mill workers and sweepers in Dalhousie Jute Mill located at Champdani in West Bengal. The places of business of 10 other fictitious firms were shown on a barren land at Bagdehi and Beheramal in Jharsuguda and Sambalpur. All house rent agreements, consent letters and genuineness certificates uploaded for registration under the VAT and GST Act are found to be forged.  

“One photograph has been uploaded in three different names while obtaining three different GST registrations under different proprietorship. A person having the same father name has different PAN numbers and four mobile phone numbers have been mentioned as authorised contact numbers of all 13 firms,” Lohani said. The enforcement wing has so far arrested 23 fraudsters for their involvement in issuance of fake invoices.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp