STATE GST DEPARTMENT BUSTED A BOGUS BILLING SCAM OF RS.100 CRORE
THREE ACUSSED ARRESTED
Fatehgarh Sahib, September 25 : ALPHA NEWS INDIA desk:—In an investigation probed by State GST department it was identified that a network of firms was engaged in issuance of fake invoices and passing the bogus input tax credit to various firms in State of Punjab. The department unearthed in its investigation that three firms of Mandi Gobindgarh namely M/s Tarun steel industries, M/s Fortune alloys & metals and M/s Broadways sales corporation had in connivance with each other issued fake invoices worth Rs. 100 crores involving tax of Rs. 19.83 crores.
In all these firms, there was a cash withdrawal from various banks worth Rs. 96.24 crores. These firms have issued bills without actual movement of goods and there is a direct loss to State exchequer of Rs. 19.83 crores.
The State GST department has arrested three persons namely Rajinder Bassi proprietor of Tarun steel industries, TarunBassi proprietor of M/s Broadways sales corporation and Manish Paul proprietor of M/s Fortune alloys & metals, as these were major kingpin of tax evasion scam. After medical examination, all three of them were presented before Duty Magistrate who had sent them in Judicial custody for 14 days.
The department has impounded account books, Laptop & mobile phones from the business premises and residence of the accused which shall be further investigated and all those beneficiaries shall be identified who have received these fake invoices, to recover the tax. The beneficiaries who have utilised the input tax credit above that the prescribed limit as per section of 132 of the Act, the prosecution proceedings shall also initiated against them.
This scam was busted under the supervision of Additional commissioner of State Tax Ravneet khurana (IRS), AIG Sh. G.S.Dhanoa and DCST LUDHIANA DIVISION Sh.Pawan Garg by the GST officers Team comprising ACST Sh.Magnesh Sethi Fatehgarh Sahib, ACST SH.V.P.SINGH Ludhiana, ACST Inderjit singh Nagpal Mobile wing Ludhiana, STO Amanpreet singh, STO Arvind Sharma Fatehgarh Sahib,STO Aman Gupta,STO Amandeep Singh,STO Saurav singla,STO Japinder kaur,STO jasmeet singh,STO Naresh khokhar, STO Anupam Mor, STO Soniya Gupta.