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DGGI unearths yet another fake billing racket of Rs 42 crore

Another big scam detected by the Surat zonal unit of the Directorate General of GST Intelligence (DGGI).

On Wednesday, GST investigator carried out search operation at many places in the city and unearthed bogus billing racket without the supply of goods worth more than Rs. 42 crores with fraudulent ITC involving Rs. 7.7 crores.

During search operation, Aslam Sheikh, one of the kingpings in the fake billing racket has shown purchases from 19 different firms of which 16 firms were found to be fake and non­existent.

During investigation, Sheikh confessed that he took ITC Rs 7.7 Crores (approx.) on the basis of invoices issued by the bogus firms without receipt of any goods and he never met any of the proprietors.

The accused (Mr. Sheikh) was presented before the district and sessions court and that he has been remanded in the judicial custody on Wednesday.

It is said that the racket involves many more accused and firms who are also under active investigation and yet to be identified.

As per the preliminary estimate, the fake ITC of more than Rs 100 crore has been issued without supply of goods by these bogus firms. During the course of investigation, 54 fake firms have been identified for cancellation of registration under GST and 33 bank accounts linked with these firms have been provisionally attached.

Press Release: http://pib.nic.in/PressReleaseIframePage.aspx?PRID=1581465

Author: Niranjan Reddy

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