Fake Invoicing Racket Of Rs 338 Crore Busted In Assam, 2 Arrested

Fake Invoicing Racket Of Rs 338 Crore Busted In Assam, 2 Arrested

Fake Invoicing Racket Of Rs 338 Crore Busted In Assam, 2 Arrested

Both the accused have been despatched to 14 days judicial custody (Representational)


A whopping Rs 338 crore racket of faux invoicing has been unearthed by GST officers in a significant bust of tax evasion rip-off in Assam.

According to a media assertion, the Directorate General of GST Intelligence (DGGI), Guwahati Zonal Unit, mentioned {that a} city-based businessman and a tax advisor had been behind the rip-off.

The Additional General (ADG) of GST Intelligence in Guwahati Unit mentioned Amit Kumar, proprietor of Maruti and tax advisor Sourav Bajoria has been arrested beneath a number of sections of the GST act.

The duo had additionally generated faux credit score of Input tax (TTC) involving Rs 28.97 crores of GST.

“Amit Kumar, was engaged in receipt and issuance of faux invoices of coal. The agency confirmed buy of coal from Gujarat, Punjab and Delhi to his Guwahati unit to avail enter tax credit score (ITC) The unit issued invoices to cement producers, coke producers, and different merchants and so on in northeast with out provide of any items. The faux invoices/payments of coal by the agency had been used as cowl doc for the coal procured clandestinely and to go on irregular ITC,” the ADG mentioned.

He additionally added that Amit Kumar had created two extra faux entities by the identical title Maruti Traders at Ludhiana and Gandhidham and confirmed enterprise transactions between these companies on paper with none provide of products.

“This enormous racket of faux invoicing concerned different companies in Delhi, Punjab and Gujarat which had been discovered to be non-existing,” the official mentioned.

On the position of the tax advisor the highest official mentioned, “He (Sourav Bajoria) colluded with Amit Kumar and brought on the fee of the fraud. He was instrumental in coping with transactions for Amit. Sourav maintained the books of accounts, ready the Financial Accounts and obtained the account audited and filed the GST returns pertaining to M/s Maruti Traders of Guwahati, Gujarat and Ludhiana which turned out to be non-existent entities throughout search.”

Both the accused have been produced earlier than the Chief Judicial Magistrate, Kamrup Metro and despatched to 14 days judicial custody.

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