2 held for bogus GST billing worth ₹400 crore
KANPUR : Following raids by directorate general GST intelligence, two businessmen from Kanpur were arrested on Thursday for their alleged involvement in massive bogus billing and tax evasion worth over Rs 60 crore. In the last one year, the accused allegedly issued bogus invoices worth Rs 400 crore, which involved GST evasion of about Rs 60 crore.
KANPUR: Following raids by directorate general GST intelligence, two businessmen from Kanpur were arrested on Thursday for their alleged involvement in massive bogus billing and tax evasion worth over Rs 60 crore. Manoj Kumar Jain and Chandra Prakash Tayal are the owners and promoters of various firms which had helped companies evade Goods and Services Tax (GST).
They were running their firms from Nayagunj, a commercial hub, in Kanpur.
It was also discovered that the Jain and Tayal were issuing bogus bills for supply of cement, bitumen, raw hides, plastic granules, BOPP films and metals without the supply of any goods or services.
Such invoices were issued with the intention of passing the benefits of income tax credit (ITC) for GST to their clients.
In the last one year, the accused allegedly issued bogus invoices worth Rs 400 crore, which involved GST evasion of about Rs 60 crore. They also connived with transporters to get a bogus consignment date to show movement of goods on paper and created fake e-way bills. The duo made payments through RTGS for the bogus supply of goods and returned the amount in cash after deducting their commission. In a statement, director general of the GST Intelligence, Lucknow unit, said the searches were conducted at various locations in Kanpur of firms owned and managed by the accused. The raids and investigation resulted in detection of bogus billing under GST to pass on wrong ITC.
The operation was conducted under the supervision of additional DG, GST intelligence Rajendra Singh. The team headed by deputy director Kamlesh Kumar conducted raids and searches at offices and the residence of the two accused.
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