The Enforcement Wing, south zone Bengaluru of Commercial Taxes Department, Government of Karnataka busted a fake GST bill operators’ racket under which a syndicate was run to help companies in the service sector of manpower and labour supplies to avail fake Input Tax Credit (ITC) and inflate the turnover artificially.
According to an official release, this is the first of its kind of operation where fake invoice racket in the service sector has been busted.
The Enforcement Wing’s probe revealed that around 30 fake entities were floated using the credentials of family members, relatives, friends and other persons. While the transaction under the scanner involves a total turnover of Rs.525 crore, the enforcement wing suspects a revenue loss of approximately Rs.90 crore to the government, a release said.
Source file – The Hindu
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