Fake GST receipt alert! Vadodara Commissionate busts racket generating fake invoices

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New Delhi | Published: December 23, 2018 3:31:54 AM

Based on fake invoices valued at about Rs 70 crore received through courier and other means, the said company also availed more than Rs 12 crore of fake input tax credit.

gst, gst council meeting, arun jaitley, fm arun jaitleyAbout Rs 14 crore worth of fake GST credit was on the company to certain Ahmedabad-based firms, a statement said.

The Goods and Services (GST) commissionerate in Vadodara busted a racket of fake GST invoices used to claim nearly Rs 26 crore in illegal input tax credit, a statement issued by commissionerate said. During the search operations, officers also found a racket of a web of fake companies engaged in iron and steel sector, assistant commissioner Dhananjay Singh said. Based on records/documents seized during the searched and the confessional statement of the industrialist, involvement of various persons including professionals with the intent to fraudulently inflate company’s turnover and merely issuing fake GST invoices to the tune of Rs75 crore was detected.

About Rs 14 crore worth of fake GST credit was on the company to certain Ahmedabad-based firms, a statement said. Further, based on fake invoices valued at about Rs 70 crore received through courier and other means, the said company also availed more than Rs 12 crore of fake input tax credit, resulting in huge loss to the government exchequer.

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