Ludhiana: Acting on specific intelligence, officers of the Central Goods and Services Tax (CGST) Commissionerate, Ludhiana, conducted multiple search operations and uncovered a massive fake GST invoice racket worth Rs 455 crore, an official statement said on Thursday.
The racket involved three related firms that availed bogus invoices and utilized ineligible Input Tax Credit (ITC) worth Rs 69.41 crore to set off their GST liabilities.
Following the search operations, two individuals—a man and his son who were operating and controlling these firms—were arrested under the provisions of the Central GST Act, 2017. They were subsequently sent to judicial custody.
The investigation is ongoing to uncover the full extent of the network and identify other entities involved, the statement added.
https://www.freepressjournal.in/business/punjab-central-goods-services-tax-officers-unveil-fake-gst-invoice-racket-worth-455-crore
