Quick Summary
The Enforcement Directorate (ED) on Thursday launched extensive search operations across Arunachal Pradesh, Haryana, Delhi, Tamil Nadu and Telangana in connection with a massive Rs 650 crore fake ITC scam, officials confirmed. The raids, led by ED's Guwahati unit in coordination with state police f
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited News Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
The ED is investigating a large-scale fake Input Tax Credit (ITC) scam amounting to Rs 650 crore.
The ED's search operations are being conducted across Arunachal Pradesh, Haryana, Delhi, Tamil Nadu, and Telangana.
The scam is believed to involve the creation of shell firms and bogus transactions to illegally claim ITC without any actual supply of goods or services.
The searches are being carried out under the Prevention of Money Laundering Act (PMLA).
These raids highlight the Centre's aggressive stance against economic crimes, particularly those exploiting tax credit loopholes, and are expected to uncover evidence leading to further arrests.
Yes, the ED recently raided 12 locations in connection with a similar Rs 750 crore ITC fraud in Jharkhand, West Bengal, and Maharashtra.
CAclubindia
