All India: Fake Invoicing Racket Of 338 Crore Busted In Assam, 2 Arrested

Guwahati: An astounding ₹ 338 crore racket of phony invoicing has been uncovered by GST authorities in a significant bust of tax avoidance trick in Assam.

As per a media explanation, the Directorate General of GST Intelligence (DGGI), Guwahati Zonal Unit, said that a city-based financial specialist and a duty expert were behind the trick.

The Additional General (ADG) of GST Intelligence in Guwahati Unit said Amit Kumar, proprietor of Maruti and duty specialist Sourav Bajoria have been captured under a few areas of the GST act.

The pair had additionally produced counterfeit credit of Input charge (TTC) including ₹ 28.97 crores of GST.

“Amit Kumar, was occupied with receipt and issuance of phony solicitations of coal. The firm showed acquisition of coal from Gujarat, Punjab and Delhi to his Guwahati unit to profit input tax reduction (ITC) The unit accordingly gave solicitations to solidify producers, coke makers, and different dealers and so on in upper east without supply of any merchandise. The phony solicitations/bills of coal by the firm were utilized as cover record for the coal obtained furtively and to pass on sporadic ITC,” the ADG said.

He likewise added that Amit Kumar had made two more phony substances by a similar name Maruti Traders at Ludhiana and Gandhidham and showed deals between these organizations on paper with no inventory of products.

“This enormous racket of phony invoicing included different firms in Delhi, Punjab and Gujarat which were discovered to be non-existing,” the authority said.

On the job of the assessment expert the high ranking representative said, “He (Sourav Bajoria) connived with Amit Kumar and caused the commission of the extortion. He was instrumental in managing exchanges for Amit. Sourav kept up with the books of records, arranged the Financial Accounts and got the record evaluated and documented the GST returns relating to M/s Maruti Traders of Guwahati, Gujarat and Ludhiana which ended up being non-existent elements during search.”

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