Multi-state GST, Input Tax Credit fraud of around Rs 200 crore detected
The Central Goods and Service Tax department has detected a fraud of GST in the metal scrap business across Madhya Pradesh, Maharashtra and Gujarat
- Dec 18, 2018,
- Updated Dec 18, 2018 9:43 AM IST
The Central Goods and Service Tax (CGST) department has detected a fraud of Goods and Service Tax (GST) and Input Tax Credit (ITC) in the metal scrap business across Madhya Pradesh, Maharashtra and Gujarat.
The fraud amount is likely to around Rs 200 crore, an official said.
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According to officials, the fraud was committed during the past one-and-half years through bogus business and fake invoices and e-way bills.
An official associated with the investigation told PTI, "In the case, more than 1,100-crore of metal scraps business of more than 400 firms across three states are under the purview of our investigation. We suspect illegal benefit of Rs 200 crore through input tax credit."
He, however, said the real fraud amount would be known after the investigation.
So far, statements of 14 people have been recorded, the official added
Meanwhile, a CGST press release said officials have raided 17 places in Madhya Pradesh's Indore, one place in Bhopal and two places in Jabalpur during the past four days.
Besides, two campuses in Mumbai, five in Thane in Maharashtra and five places in Gujarat's Bhavnagar district were also raided, it added.
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The Central Goods and Service Tax (CGST) department has detected a fraud of Goods and Service Tax (GST) and Input Tax Credit (ITC) in the metal scrap business across Madhya Pradesh, Maharashtra and Gujarat.
The fraud amount is likely to around Rs 200 crore, an official said.
Also Read: Aadhaar to be voluntary for mobile connections, bank accounts
According to officials, the fraud was committed during the past one-and-half years through bogus business and fake invoices and e-way bills.
An official associated with the investigation told PTI, "In the case, more than 1,100-crore of metal scraps business of more than 400 firms across three states are under the purview of our investigation. We suspect illegal benefit of Rs 200 crore through input tax credit."
He, however, said the real fraud amount would be known after the investigation.
So far, statements of 14 people have been recorded, the official added
Meanwhile, a CGST press release said officials have raided 17 places in Madhya Pradesh's Indore, one place in Bhopal and two places in Jabalpur during the past four days.
Besides, two campuses in Mumbai, five in Thane in Maharashtra and five places in Gujarat's Bhavnagar district were also raided, it added.
Also Read: MP CM Kamal Nath gives nod to farmer loan waiver up to Rs 2 lakh
Also Read: Ujjwala Yojana: Govt now extends LPG scheme to all poor households