Fake Billing Racket

GST officers have unearthed two fake billing rackets involving 246 shell/fake entities involved in fraudulently passing input tax credit (ITC) of Rs 557 crore and arrested three key operatives.

Tax officers will give reasonable time to traders to explain reasons for mismatch in turnover reported in sales return GSTR-1 and tax payment form 3B

The Income Tax Department has busted a fake billing racket, involving bank officials, running into several hundred crores based on documents seized during its raids on Monday at 42 locations across Delhi-NCR, Haryana, Punjab, Uttarakhand and Goa, the Finance Ministry officials said today.

GST officers have unearthed two fake billing rackets involving 246 shell/fake entities involved in fraudulently passing input tax credit (ITC) of Rs 557 crore and arrested three key operatives.

Tax officers will give reasonable time to traders to explain reasons for mismatch in turnover reported in sales return GSTR-1 and tax payment form 3B

The Income Tax Department has busted a fake billing racket, involving bank officials, running into several hundred crores based on documents seized during its raids on Monday at 42 locations across Delhi-NCR, Haryana, Punjab, Uttarakhand and Goa, the Finance Ministry officials said today.