Ludhiana:
Unearthing another fake billing and Input Tax Credit (ITC) scam, the Directorate General of Goods and Service Tax Intelligence (DGGI) arrested father –son duo for availing and utilizing ineligible input tax credit of Rs 56.52 crores through bogus billings to the tune of Rs 314 crores without any receipt of goods.
The accused have been identified as Pawan Kumar Goyal and Peeyush Goyal of M/s Sona Castings Pvt. Ltd. in Mandi Gobindgarh. M/s Sona Castings Pvt. Ltd which is engaged in manufacturing of MS Billets, Hot Rolled (HR) Coils and ERW Pipes and Tubes.
According to the officials, besides availing ineligible ITC through bogus billings, the accused were engaged in clandestine clearance of goods without invoices further hampering the government revenue.
During the search operation, digital devices like, CPU, mobile phones and other incriminating documents like hand written kacha (without bill) slips, diaries were seized from the residential and official premises of the key persons.
DGGI official stated that the accused are the masterminds and they have availed and utilized fraudulent ITC of about Rs 56.52 crores without underlying supply of goods through fake billing of Rs 314.02 crores in violation of the provisions of CGST Act, 2017 and the rules made there under. During the search, evidence was also found about clandestine removal of finished items having tax implication of 0.80 Crore. Additionally, there was also the stock shortage involving the tax liability of Rs. 0.85 crore.
In series of action, DGGI Ludhiana has arrested 5 individuals in multiple cases of fraudulent ITC passing and availment to the tune of around Rs 200 crores in fake billing scams of Rs 1250 crores in last two weeks.
DGGI Ludhiana is further identifying and focusing on various entities that are involved in the fraudulent activity of bogus billing and clandestinely removal of goods without paying of taxes.