The Enforcement Directorate (ED) has attached 10 immovable properties worth ₹15.41 crore in Kolkata and Howrah in connection with a massive ₹734 crore GST fake input tax credit (ITC) fraud spanning three states. The attachment, carried out under the Prevention of Money Laundering Act (PMLA), 2002, targets assets belonging to Amit Gupta, one of the key masterminds of the fraud and his associates.
GST Fraud Across Jharkhand, West Bengal and Delhi
The case, originating from a complaint filed by the Directorate General of GST Intelligence (DGGI), Jamshedpur, revealed that the accused orchestrated a sophisticated racket through a web of 135 shell companies.
According to the ED, the syndicate issued bogus GST invoices without actual supply of goods, thereby generating and selling fake ITC worth over ₹734 crore. End-user entities then used these fraudulent credits to evade their legitimate GST liabilities, causing a huge loss to the government exchequer.
Commission and Money Laundering
The syndicate allegedly earned around ₹67 crore in commission by selling fake ITC. Amit Gupta, identified as the financial manager of the syndicate, laundered these illicit gains by purchasing multiple immovable properties. The ED noted that Gupta attempted to hide these assets by transferring them to his relatives and associates after the investigation began.
Arrests and Previous Attachments
Search operations conducted on May 8, 2025, led to the arrest of Amit Gupta along with Shiva Kumar Deora (alleged syndicate head), Mohit Deora, and Amit Agarwal. All are currently in judicial custody.
The Special PMLA Court in Ranchi has already taken cognisance of the offences. This is the second major attachment in the case. Earlier, on July 3, 2025, the ED had attached properties worth ₹5.29 crore belonging to Shiva Kumar Deora.
Ongoing Crackdown
"The present attachment of properties worth ₹15.41 crore is part of ongoing efforts to trace and attach the proceeds of crime," the ED said. Investigations into the wider network of shell companies and beneficiaries of the fraudulent ITC are still underway.
CAclubindia
