Crackdown on Fake Firm in Iron Industry Uncovers Massive GST Evasion
The Central GST officers dismantled a fraudulent firm in the iron and steel sector that issued fake bills worth Rs 29.43 crore, resulting in a Rs 5.29 crore GST evasion. The firm, established to deceitfully facilitate input tax credit, was caught by the Ludhiana CGST Commissionerate.
- Country:
- India
In a significant bust, Central GST officers have dismantled a fraudulent firm in the iron and steel industry that was responsible for generating fake bills totaling Rs 29.43 crore, leading to GST evasion of Rs 5.29 crore.
This fraudulent firm was established in Mandi Gobindgarh, district Fatehgarh Sahib, and was uncovered by the Ludhiana CGST Commissionerate, according to an official statement released on Friday.
The investigation disclosed that the firm generated bogus e-way bills and other supporting documents to evade GST enforcement scrutiny. The firm's proprietor was arrested on Thursday and is now in judicial custody.
(With inputs from agencies.)
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