Ahmedabad: Rs 400 cr fake GST billing scam busted

  • | Saturday | 12th January, 2019

Of these, only one company is involved in the issuance of fake bills worth Rs 100 crore and 18-20 crore worth of ITC. "Key persons involved in the offence have confessed to the crime and have admitted having issued invoices fraudulently. Close to a dozen companies are found to have been involved in the scam but just one company had conducted fake bills worth Rs 100 crore and got Rs 18 crore worth of ITC in a fraudulent manner. Intelligence wing of Central Board of Indirect Taxes, on Friday, said it has arrested three persons from Ahmedabad in a Rs 400 scam of fake billing involving fraudulent utilization of Rs 70 crore worth of Input Credit Tax (ITC). This revealed issuance of fake invoices without supply of goods involving an amount of more than Rs 400 crore with total tax evasion worth Rs 70 crore in form of claiming ITC through fraudulent means.

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