GST (Goods and Services Tax) dozing has proved dear for Assam, where as many as 350 fake GST firms have been preparing fake invoices, leading to the evasion of ITC (Input Tax Credit).
Sleuths of the GST Commissioner have been conducting raids in several firms for their notoriety of evading GST. The Commissioner of GST has already cancelled the licences of several fake GST firms that have been issuing fake invoices to different parties for evading ITC. This unscrupulous practice dupes the state government of crores of rupees.
A few days back, the sleuths arrested Varun Goel of Shiva Traders from the Fancy Bazar area for evading around Rs 9.90 crore in tax. The sleuths also arrested Ishak Ahmed, Director of Khushi Digital Private Ltd., from Silchar, on June 16 for availing fake billing and fraudulent ITC amounting to over Rs 25 crore. Since June 16, the sleuths have been raiding Ashok Auto Agency located in the Chatribari area.
The Commissioner of Taxes, Assam, said, “The arrest of such unscrupulous taxpayers will create deterrence for such activities, and it will make them think twice before indulging in such activities. It is for the warning of all concerned that any fraudulent activities of taxpayers which result in evasion of tax of more than Rs 2 crore may lead to their arrest.”
The sleuths produced Ishak Ahmed before the court that sent him to 14-day judicial custody.
According to sources, the accused had fraudulently availed a total ITC amount of Rs 15.28 crore without actual receipt of any goods or services or both. The accused has also issued fake invoices to different taxpayers without actual supply of goods or services or both and passed on Rs 10.64 crore of bogus ITC to those taxpayers.
Source from: https://www.sentinelassam.com/topheadlines/assam-crores-of-rupees-defrauded-through-fake-gst-invoices
