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Introduction In a significant crackdown, the Karnataka Commercial Taxes Department of Bengaluru South Zone has exposed an intricate Input Tax Credit (ITC) scam orchestrated by scrap dealers. The fraudsters employed a sophisticated scheme involving bogus invoices, resulting in a tax fraud amounting to Rs 64 crore against the government. Details of the Operation The Commercial Taxes Department, led by Commissioner C Shikha, initiated raids against 86 vendors after an extensive two-month-l
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FAQ :
Tax officials uncovered a large-scale Input Tax Credit (ITC) scam involving fake invoices, amounting to £64 million in tax fraud.
The scam was orchestrated by scrap dealers in Bengaluru, with 86 vendors targeted in the raids.
The targeted vendors manipulated invoices for business transactions exceeding £352 million, with the fraudulent ITC claims totalling £64 million.
They used bogus invoices, exploited suspended or cancelled GST registrations, and forged documents to register fictitious businesses for claiming fake ITC refunds.
The Karnataka Commercial Taxes Department has vowed to take stringent legal action against the perpetrators and stressed the need for enhanced vigilance.
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