Quick Summary
In a major crackdown on tax evasion, officers of the CGST Commissionerate, Ludhiana, have busted a massive fake GST invoice racket involving transactions worthRs 455 crore. According to an official statement issued on Thursday, searches were conducted at multiple locations based on specific intelligence inputs. The investigation revealed that three interlinked firms were engaged in generating bogus invoices and fraudulently availing ineligible Input Tax Credit (ITC) worth Rs 69.41 crore to offs
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FAQ :
The fake GST invoice racket involved transactions worth Rs 455 crore.
The fraudulent claims for Input Tax Credit (ITC) amounted to Rs 69.41 crore.
A father and son duo, allegedly operating and controlling the firms involved, were arrested.
Both individuals were produced before a magistrate and remanded to judicial custody under the Central GST Act, 2017.
Yes, further investigations are underway to trace the complete network of fraudulent entities and identify other beneficiaries.
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