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Punjab Finance, Planning, Excise and Taxation Minister Harpal Singh Cheema announced on Monday that the investigative wings of the state’s Taxation Department detected transactions worth Rs 1,549 crore involving bogus billing or paper transactions and successfully blocked fraudulent Input Tax Credit (ITC) claims amounting to Rs 108.79 crore in the current fiscal.
In a major breakthrough, the GST Department unearthed a massive bogus billing scam in Ludhiana, involving transactions worth Rs 163 crore over the past two years.
After a series of bogus billing scams dented the exchequer’s revenues through massive tax evasion, the state and central goods and services tax departments in Gujarat have launched a drive to identify bogus GST registrations. The drive is part of a nationwide effort to curb tax evasion through fake billing.
CID crime on Thursday busted a major GST bogus billing racket, running into Rs 1000 crore.
City crime branch on Thursday arrested Ismail Khokhar of Bhavnagar and Aamirkhan Pathan, a resident of Sarkhej for Rs. 60 crore fraud…
Industrialists, who had been asking GST departments to take action against rising menace of bogus billing, have welcomed the central…