Massive GST Invoice Fraud Uncovered in Jharkhand and West Bengal
The Enforcement Directorate conducted raids in Jharkhand and West Bengal, targeting an alleged fraudulent GST invoice racket. Nine locations were searched, focusing on suspects Shiv Kumar Deora, Sumit Gupta, and Amit Gupta, who reportedly fabricated invoices worth Rs 14,325 crore, claiming illegal ITC worth Rs 800 crore.
- Country:
- India
The Enforcement Directorate intensified its anti-money laundering operations on Thursday, conducting a series of raids across Jharkhand and West Bengal. These actions are part of an investigation into the creation of fraudulent goods and services tax (GST) invoices.
The agency targeted nine locations in cities including Ranchi, Jamshedpur, and Kolkata. The suspects, identified as Shiv Kumar Deora, Sumit Gupta, and Amit Gupta, are believed to have issued fake invoices amounting to Rs 14,325 crore, resulting in questionable Input Tax Credit (ITC) claims of over Rs 800 crore.
Officials aim to collect extensive documentation and assets that link back to these alleged illicit activities, in accordance with the Prevention of Money Laundering Act (PMLA), indicating how critical financial propriety is to maintaining India's economic integrity.
(With inputs from agencies.)
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