A Jamnagar-based chartered accountant was booked for his alleged involvement in running a bogus billing racket of ₹560 crore involving fraudulent Input Tax Credit (ITC) claims of ₹112 crore through 14 non-genuine taxpayer firms, the Gujarat State Goods and Services Tax (SGST) Department on Thursday said.
Acting on specific intelligence, the department carried out search operations on October 3 at 25 locations across the state, including a private office in Jamnagar, where CA Alkesh Pedhadiya is a partner, and his residence, according to a press release.
Twenty-seven teams drawn from GST offices across Gujarat conducted the searches under the provisions of the Gujarat Goods and Services Tax Act, 2017, the department said in its statement.
Documents, computers and digital records containing evidence of fake invoices and manipulated financial data were seized during the operations. The department said its preliminary analysis found multiple layers of financial transactions routed through various bank accounts, indicating complex fund diversion mechanisms.
According to the release, several firms under investigation have admitted to the irregularities and agreed to pay about ₹33 crore towards tax, interest and penalties.
